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J.C. Penney considering real estate spinoff to raise cash
New York -- A Tuesday report by Bloomberg said that J.C. Penney has an additional plan to raise money; the retailer is said to be considering a spinoff of its real-estate holdings into a new unit that could issue debt.
Citing two unidentified sources, Bloomberg said Penney is also considering selling its real estate and then leasing it back as another avenue to free up money. And other assets, such as inventory, could be collateralized.
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Haven Riverfront to open at Edgewater Harbor
Edgewater, N.J. -- North Plainfield, N.J.-based Levin Management Corp. said that Haven Riverfront Restaurant & Bar will open a 6,500-sq.-ft. location at Edgewater Harbor, in Edgewater, N.J.
The new restaurant, opening in June, becomes the latest eatery to join the dining component at the mixed-use development on Hudson County’s Gold Coast, according to Levin, the exclusive retail leasing agent for the property.