Canadian retail giant Hudson’s Bay Co. (HBC) has entered into two blockbuster deals, forming joint ventures with Simon Property Group and Canada’s RioCan Real Estate Investment Trust to target real estate growth opportunities in the United States and Canada. Both ventures are structured to facilitate an IPO at a later date.
The National Retail Federation (NRF) is launching United for Patent Reform, a new coalition co-chaired by NRF and Oracle and comprised of grocery, hotel, retail, restaurant and technology associations and companies.
Ingenuity Development has entered into a strategic alliance with a New York Stock Exchange-traded Real Estate Investment Trust (REIT) to combine forces on joint venture opportunities for retail and mixed-use projects in the Mid-Atlantic and the Southeast.
American Realty Capital Properties has acquired Cole Real Estate Investments for $11.2 billion, creating the world’s largest net lease real estate investment trust, with an enterprise value of $21.5 billion.
Canadian Tire Corp. plans to spin off most of its real estate assets into a C$3.5 billion (approximately U.S. $3.49 billion) real estate investment trust, with an initial public offering expected later this year.