Sears leans on real estate values again to generate cash

April 13, 2015 11:24 AM

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Sears announced its second deal this month intended to extract value from its sizeable real estate holdings as the retailer struggles to offset falling sales.

Sears will contribute 10 properties valued at $228 million to a joint venture with the mall operator Simon Property Group Inc. and will take a 50 percent interest in the business. Sears will lease back the stores which it will continue to operate, it said Monday.

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