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26 Nov

Saks Parent HBC Raises $340M Through ‘Real Estate Monetizations’

Saks Parent HBC Raises 0M Through ‘Real Estate Monetizations’
HBC has used its property savvy to secure one other $340 million in money that could be used to bolster its retail operations — and chief executive officer Richard Baker can also be using the sale as a possibility to underscore his company’s real estate backbone. “HBC is a holding company,” Baker told WWD in what become a Sunday explainer on his business empire. “Our largest business is our real estate business. Everyone seems to have forgotten that I used to be an actual estate guy, still am, and that HBC is primarily an actual estate company. We own $7 billion value of real estate.  “We recurrently monetize, on a pre-organized campaign, our real estate assets,” he said. “We have now a...
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