A joint venture between Hudson’s Bay Co. and RioCan Real Estate Investment Trust says it may sell its downtown Vancouver property. RioCan-HBC JV says in a statement that it’s engaged with CBRE and Brookfield Financial Real Estate Group to explore a sale. The Granville St. property is currently occupied by a Hudson’s Bay department store, which has a long-term lease. HBC Interim CEO Richard Baker says any sale would include the continued operation of the store. The joint venture also says it expects to close on a $200-million mortgage on the property and the proceeds will be distributed proportionally to its partners.

Source: thestar October 30, 2017 21:00 UTC