Hudson’s Bay Co. (TSX: HBC), which owns retailers Saks Fifth Avenue and Lord & Taylor, is selling part of a stake in real estate joint venture HBS Global Properties to three investors for $533 million, as e-commerce and other industry shifts drive retailers to reevaluate real estate holdings.   For more on the factors prompting retail real estate restructuring, read American Apparel's Bankruptcy Underscores Challenges for Retailers.

Montreal-based real estate company Ivanhoe Cambridge is investing $250 million; Madison International, another real estate firm based in New York is putting $150 million; and an undisclosed U.S. pension fund is picking up a portion valued at $133 million.

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