Malhotra's Company Buys Hudson's Bay Ottawa Building

A significant real estate deal unfolds in Ottawa as a company linked to Neil Malhotra, Claridge Homes CFO, purchases the historic Hudsons Bay building. The sale, though details remain sealed, marks a new chapter for the long-vacant property, which has been empty since Hudsons Bays closure in 2021. The building, once a Freiman department store, gained heritage status last year. Hudsons Bay operated three Ottawa stores, but job cuts in 2017 signaled growing challenges. The receiver, FTI Consulting Canada, handled sales for other ex-Hudsons Bay sites, with the Ottawa sale set to be approved this Monday, potentially revitalizing the Rideau Street block. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/312b6d348a504e6b