• Daphne Howland
• 11 Feb, 2019

Hudson's Bay Company on Monday said it has closed the sale of its Lord & Taylor Fifth Avenue building to WeWork Property Investors for a total transaction value of CA$1.1 billion, or $850 million. As a result, HBC has eliminated the approximately $400 million Lord & Taylor mortgage and has reduced borrowings under its asset-based revolving facility, according to a company press release.
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