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Hudson’s Bay Arranges $1.25 Billion Refi On Saks Fifth Ave. Flagship Store

Hudson's Bay Co. has arranged $1.25 billion, 20-year mortgage on the ground portion of its Saks Fifth Avenue flagship in New York City at 611 Fifth Ave. In connection with this transaction, lenders Bank of America, Morgan Stanley Bank, Goldman Sachs Mortgage Co. and The Bank of Nova Scotia, independently commissioned a leading international appraiser to provide appraisals of the land and the building. The independent appraiser valued the entire...