Retail and mixed-use REIT Seritage Growth Properties board said it is mulling its “strategic alternatives,” which could include a sale of assets or the REIT in its entirety. 

While the board cautioned that there can be no guarantee that the review process would result in a transaction of any kind, the board said it had retained Barclays as advisor and that a special committee of the board would be set up to handle the review process. Edward Lambert is resigning as board chairman effective immediately.

President and CEO Andrea Olshan said that opportunities for Seritage’s assets were “extremely strong, and we believe that embarking on this process represents the most efficient way to unlock the full potential of this portfolio. We are committed to exploring a variety of opportunities to pull forward this value and deliver it to Seritage shareholders in the near-term.”