October 30, 2017 / 8:23 PM / a year ago

HBC, RioCan exploring sale of Vancouver Hudson's Bay store

TORONTO, Oct 30 (Reuters) - A joint venture between Canada’s Hudson’s Bay Co (HBC) and RioCan REIT is exploring the sale of HBC’s flagship store in Vancouver, the companies said in a statement on Monday.

The joint venture also expects to take out a C$200 million ($156 million), four-year mortgage on the property, the proceeds of which would be distributed on a pro-rata basis to the joint venture partners, they said.

The companies did not disclose the value of the property, but the Globe and Mail newspaper on Friday reported the store was valued at as much as C$900 million.

$1 = 1.2817 Canadian dollars Reporting by Nichola Saminather; Editing by Lisa Shumaker

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below