What: a new business unit for Canadian HBC

Why it is important: an investment in property to create new opportunities for the group

Canada’s Hudson’s Bay Corp. has launched HBC Properties and Investments (“HBCPI”), a dedicated real estate and investments business. The aim is to capitalise on the company’s robust portfolio of assets, and to eventually convert some of Hudson’s Bay’s real estate into mixed-use developments combining workplace, retail, residential and entertainment categories.

HBC controls 40 million square feet (approx. 37 square meters) of gross leasable area across North America; which includes retail banners Hudson’s Bay, Saks Fifth Avenue and Saks Off 5TH.

This is the latest step forward for the company to “shift to a […] structure with distinct portfolio businesses that operate at the intersection of retail and real estate.”

HBC Unveils HBC Properties and Investments