"Astra Real Estate Corp. wants the 8th Avenue location in Calgary, a numbered company linked to Claridge Homes is after the Ottawa site on Rideau Street and Onni Development Capital Corp. is eyeing the former store on Granville Street in Vancouver."
"Circle Retail Properties LP wants the Devonshire Mall site on Howard Street. A receiver, which was appointed to take control of the Hudson's Bay Company (HBC) and RioCan joint venture last year, says it will ask a court next week to approve the Ottawa sale."
"Court filings do not show what the buyers have offered to pay for the properties, nor what they will do with them. The filings were made around the same time as Brookfield Properties and Larco Investments applied to the City of Toronto to turn the upper floors of a former HBC site on Bloor Street East into a self-storage facility."
Buyers have been secured for four properties previously owned by Hudson's Bay department stores in Calgary, Ottawa, Vancouver, and Windsor. Astra Real Estate Corp. is interested in the Calgary site, while a company linked to Claridge Homes is pursuing the Ottawa location. Onni Development Capital Corp. aims for the Vancouver property, and Circle Retail Properties LP is targeting the Windsor site. A receiver will seek court approval for the Ottawa sale and other transactions. Details on purchase offers and future plans remain undisclosed.
Read at www.cbc.ca
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