Macy’s seeks potential buyers for stakes in flagship stores

Thursday, 7 January 2016 10:52

U.S. department store Macy’s is looking to sell stakes in its flagship stores, including its landmark building on West 34th Street in Manhattan’s Herald Square, one of New York’s top tourist attractions. The company says it hired Eastdil Secured LLC, a real estate investment bank, to “approach potential interested parties” about forming partnerships or joint ventures for its stores. In a statement on Wednesday, Macy’s says Tishman Speyer has expressed interest in taking stakes in the four flagship stores as the company looks to capitalize on its real estate. David M. Levitt and Lindsey Rupp / Bloomberg

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