NEW YORK & LOS ANGELES & COLOGNE, Germany--(BUSINESS WIRE)--(All amounts in US dollars) - HBS Global Properties, the real estate joint venture between Hudsons Bay Company (HBC) (TSX:HBC) and Simon Property Group Inc. (Simon) (NYSE:SPG), is pleased to announce the sale of $533 million of equity, previously held by HBC, to three new investors. The third party investment of $533 million values HBS Global Properties portfolio at $4.5 billion(1)(2), based on a blended capitalization rate of 5.90%. The investment is comprised of individual investments from the following premier real estate investors: $250 million equity investment by Ivanho Cambridge; $150 million equity investment by Madison International Realty; and $133 million equity investment by a large U.S. pension. HBC received all proceeds from the transaction. As a result of this transaction and the expected contribution of Simon...
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