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Sears hits its big with REIT offering
Hoffman Estates, Ill. – Sears Holding Corp. has met financial expectations for its new real estate investment trust (REIT) called Seritage Growth Properties. A 53.3 million-share Securities and Exchange Commission (SEC) subscription rights offering for Seritage that closed on July 2 was oversubscribed and generated about $1.6 billion, meeting expectations for gross proceeds of $1.57 billion.
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McArthurGlen Group to enter North America with Vancouver outlet
London - McArthurGlen Group, an owner, developer and manager of European designer outlets, is opening its first North American location on July 9, in Vancouver. McArthurGlen Vancouver Airport is designed in an open-air village style, with a luxury piazza and tree-lined streets.
On opening, the center will offer 240,000-sq.-ft. of retail space with 50 new stores, featuring Armani, Coach, J Crew, Hugo Boss, Ports 1961, Tommy Hilfiger and Polo Ralph Lauren, with more brands to come before the end of 2015.

