Macy’s Negotiates Real Estate Sale: R.H. Macy...
From Times Staff and Wire Reports
Macy’s Negotiates Real Estate Sale: R.H. Macy & Co. said it is negotiating to sell the Bullock’s office building in downtown Los Angeles to Alexander Haagen Co. The building was put up for sale in October. No other details were disclosed. Macy’s also announced other moves to improve its financial condition, including the sale of a 1% stake in the company to the real estate group Corporate Property Investors for $15 million. The company also said its senior bank lenders have agreed to modify a lending agreement to give the retailer greater financial flexibility as it enters the important fall shopping season.
