11/12/2013

Sears Canada will sell its 50% interest in eight Canadian retail centers to Montez Income Properties in a deal valued at about C$315 million, as part of its ongoing effort to leverage real estate holdings to raise cash. The Sears stores located in each of the centers are slated to stay open, the company said Monday. The deal comes after last month's $400 million sale of the retailer's Toronto flagship and four other stores.

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