Troubled Canadian retailer group Hudson's Bay has sold its flagship Lord & Taylor property on Fifth Avenue in New York to WeWork Property Advisors for $850 mln (€645 mln), and inked an agreement allowing flexible office concept WeWork to leverage its global property platform, including assets in Germany and Belgium.
Opportunistic investors KKR and Baupost confirmed the acquisition of a portfolio of 33 Marriott International hotels across the UK from ADIA, while listed property group Covivio completed the purchase of 43 hotel properties in France, Belgium and Germany, in a €800 mln swap deal with AccorInvest.
