Sears taps ex-Rouse COO to head $2.5 billion property trust

April 22, 2015 10:10 PM

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April 22 (Reuters) - Sears Holdings Corp said it hired the former chief operating officer of Rouse Properties Inc to head a real estate investment trust being formed by the struggling retailer to buy some of its stores and generate $2.5 billion in cash.

Benjamin Schall, 40, will become chief executive of the Sears REIT, called Seritage Growth Properties, on May 4, the retailer said in a statement.

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