Hudson’s Bay, Simon Close on $1.8B JV
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The JV includes the Saks store in Beverly Hills and 41 other HBC properties.
TORONTO and NEW YORK CITY—Hudson’s Bay Co.and Simon Property Group said Wednesday they had closed on their US$1.8-billion joint venture, first announced in February. The two companies said the JV would enable them to build on the strength of existing real estate assets, including 42 HBC-owned or ground-leased properties, and identify new real estate growth opportunities.
Those 42 HBC properties included the Saks Fifth Avenueflagship store in Beverly Hills, CA and Lord & Taylor stores in Scarsdale, NY and Manhasset, NY. In all, the JV portfolio totals 5.4 million square feet and is valued at $1.7 billion…
Hudson’s Bay, Simon Close on $1.8B JV
