TORONTO & NEW YORK--(BUSINESS WIRE)--Hudsons Bay Company (HBC) (TSX:HBC) and RioCan Real Estate Investment Trust (RioCan) (TSX:REI.UN) announced today that they have closed the second tranche of their joint venture (the RioCan-HBC JV) focused on real estate growth opportunities in Canada. The joint venture will enable HBC and RioCan to build on the strength of existing real estate assets and identify new real estate growth opportunities. Unless otherwise indicated, all amounts are expressed in Canadian dollars. As part of the second tranche closing: HBC indirectly contributed three ground-leased properties consisting of Yorkdale Shopping Centre, Scarborough Town Centre and Square One (collectively the YSS Properties) totaling 735,926 square feet to the RioCan-HBC JV. The transaction values this second tranche of the HBC real estate contribution at approximately $379 million based on a capitalization...
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