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Hudson's Bay Company takes out $1.25-billion mortgage on Saks Fifth Avenue's flagship store in New York

from Financial Post

Savvy real estate investor Richard Baker dipped into another prized Hudson's Bay Co. property to improve the Toronto retailer's capital structure. But his U.S. $1.25-billion refinancing of its flagship Saks Fifth Avenue store in New York is just one a step of a more ambitious plan to unlock the value of the company's real estate assets in the spring. more

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