Hudson's Bay eyes REIT for Saks stores

07/30/2013 | Commercial Observer (New York City), The

Hudson's Bay is considering setting up a REIT as part of its proposed acquisition of Saks. The properties involved include the Saks Fifth Avenue on Fifth Avenue in New York and Wilshire Boulevard in Beverly Hills and Lord & Taylor's Fifth Avenue store. Analysts warn that three properties are not enough to create cash flow for a REIT.

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Commercial Observer (New York City), The

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