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Hudson’s Bay Company/ RioCan-HBC LP in completing its real estate joint venture transaction with RioCan Real Estate Investment and a related restructuring of HBC’s Canadian real estate holdings. On the closing of the contribution of the initial tranche of properties, the new joint venture acquired 9 retail properties from HBC and RioCan valued at C$1.6B. 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 to the RioCan-HBC JV.
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