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Hudson's Bay Lease Sale May Negatively Impact Pension Fund: OMERS' Real Estate Arm
Oxford Properties warns Ruby Liu's planned redevelopment of 25 Hudson's Bay leases could reduce asset values, risking the retirement security of over 600,000 OMERS pension members.
- A real estate company executive stated that a plan to take over Hudson's Bay leases 'defies commercial common sense' and could negatively impact a pension fund's investments.
- The businessperson proposing the takeover, Ruby Liu, has allocated $325 million for repairing stores, hiring staff, and marketing her new brand, but property owners claim her plans are underfunded and lack transparency.
- Landlords argue that an 'unproven anchor tenant lacking established retail credibility' like Liu's proposed chain could diminish the overall value and customer experience of their malls.
12 Articles
12 Articles
The Toronto Star
The RecordB.C. billionaire wanting Hudson’s Bay leases says landlord concerns are ‘misguided’
TORONTO - A B.C. billionaire who wants to buy some Hudson’s Bay leases is pushing back on landlord claims that she won’t be able to run a successful business in their spaces.
The real estate investment branch of one of the country's largest pension funds is concerned about the value of its assets if a British-Colombian billionaire manages to acquire the leases of Hudson Bay in its properties.
Hudson’s Bay Lease Sale May Negatively Impact Pension Fund: OMERS' Real Estate Arm
The real estate investment arm of one of the country’s largest pension funds is worried about the value of its assets if a B.C. billionaire is able to buy 25 Hudson’s Bay leases at its properties. In court documents filed over the weekend, Oxford Properties Group argues Ruby Liu would diminish the value and stability of its real estate portfolio and by extension, adversely affect the long-term interests of millions of OMERS pension plan benefici…
The Hamilton Spectator
Hudson’s Bay lease sale may negatively impact pension fund: OMERS’ real estate arm
TORONTO - The real estate investment arm of one of the country's largest pension funds is worried about the value of its assets if a B.C. billionaire is able to buy Hudson's Bay leases at its properties.
Upper Canada Mall among Hudson's Bay leases billionaire wants to take over
Oxford Properties Group has filed court documents arguing Ruby Liu would diminish the value and stability of its real estate portfolio, adversely affecting the interests of OMERS pension plan beneficiaries
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