HBS Global Properties Welcomes Three New Premier Real Estate Investors

NEW YORK & LOS ANGELES & COLOGNE, Germany--(BUSINESS WIRE)--(All amounts in US dollars) - HBS Global Properties, the real estate joint venture between Hudsons Bay Company (HBC) (TSX:HBC) and Simon Property Group Inc. (Simon) (NYSE:SPG), is pleased to announce the sale of $533 million of equity, previously held by HBC, to three new investors.

The third party investment of $533 million values HBS Global Properties portfolio at $4.5 billion(1)(2), based on a blended capitalization