Neiman Marcus and Bergdorf Goodman join Saks Global portfolio

NEW YORK–(BUSINESS WIRE)–Saks Global, a leading luxury retail and real estate company, has finalized its acquisition of Neiman Marcus Group (NMG) for a total enterprise value of $2.7 billion. Saks Global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH, each continuing to serve customers under their own brand.

Richard Baker, Executive Chairman of Saks Global, said, “This milestone transaction marks a transformative moment for Saks Global and the luxury retail industry. By uniting Neiman Marcus, Bergdorf Goodman, and Saks Fifth Avenue, we have created an unparalleled multi-brand luxury portfolio with tremendous growth potential. With data and innovation at our core and a portfolio of prime real estate, we aim to redefine the luxury shopping experience.”

Marc Metrick will serve as CEO of Saks Global Operating Group, and Ian Putnam will serve as CEO of Saks Global Properties & Investments. Both will report to Richard Baker, Saks Global’s Executive Chairman.

Saks Global Operating Group

Powered by data-driven technology and with a strengthened financial position, Saks Global is primed to deliver personalized, inspiring shopping experiences, and to be a stronger partner to brands in reaching their target customers.

Marc Metrick, CEO, Saks Global Operating Group, said, “Bringing these iconic brands together is a significant step forward for luxury retail. As one company, we have an opportunity to transform the way we serve consumers, blending art and science to ensure each customer’s experience is unmistakably their own. With deep relationships across the industry, cutting-edge personalization and strategic technology partnerships, we are poised to drive innovation and growth. I look forward to working with the many talented leaders and employees from NMG and across Saks Global as we embark upon our journey to bring these businesses together.”

To ensure Saks Global is best positioned to drive the growth of its luxury businesses, the company has established the role of President & Chief Commercial Officer. Emily Essner, who previously served as Chief Marketing Officer at Saks, has been promoted into this role, leading the company’s go-to-market strategy by aligning key commercial functions to enhance the customer experience and drive revenue. Metrick added, “This role will break the mold for how we bring the luxury shopping experience to life. Emily is the ideal person to lead this critical new function and advance our strategy to meet customers’ increasing demand for individualized experiences.”

Bergdorf Goodman will remain a standalone business under the Saks Global umbrella, building upon its reputation for distinct, curated luxury shopping. Tracy Margolies, who previously served as Chief Merchandising Officer for Saks, has been appointed President. Metrick continued, “Tracy’s deep expertise and track record of leading results-driven strategies will propel Bergdorf Goodman into the future while honoring its unique legacy. I am confident she is the right person to lead this storied business’ next chapter and look forward to what Bergdorf Goodman will accomplish under her leadership.”

To support its transformation strategy, Saks Global has appointed Bill Bine to the new role of Chief Transformation Officer. Bine joins Saks Global from Neiman Marcus Group where he served as Chief Supply Chain Officer. Metrick added, “A highly strategic, results-oriented executive, Bill’s significant experience leading large-scale business transformation and operations in retail will be instrumental to our integration journey.”

Saks Global Properties & Investments

Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties with a $7 billion Gross Asset Value portfolio in luxury markets and is responsible for executing strategic transactions.

Ian Putnam, CEO of Saks Global Properties & Investments, said, “With the addition of the Neiman Marcus assets, our real estate and development teams look forward to continuing to opportunistically unlock value from our robust portfolio. Additionally, our investments team will continue to focus efforts on strategic opportunities to enhance both the operating business and our real estate portfolio.”

Strategic Relationships

As an investor, Amazon will work with Saks Global to innovate on behalf of customers and brand partners.

Authentic Brands Group (Authentic), a global brand owner and licensing company, is an investor in Saks Global, and is Saks Global’s joint venture partner in Authentic Luxury Group (ALG). ALG leverages the combined capabilities of Authentic and Saks Global to maximize the potential of Authentic’s luxury brands across key sectors, including fashion, retail, digital, hospitality, real estate, art, and travel.

Salesforce is an investor in Saks Global, and will support the business by enhancing its personalization strategy by utilizing first-party data and AI to create a highly customized shopping experience.

G-III Apparel Group is an investor in Saks Global, and will continue to support the company as a key merchandising partner.

Canadian Retail and Real Estate Assets

As a result of this transaction, HBC’s Canadian business and real estate assets and Saks Global will be separately financed. Hudson’s Bay, including its stores and TheBay.com, has been recapitalized and is positioned to execute on its business plan. Hudson’s Bay will continue to own or lease a CAD$2 billion real estate portfolio, either entirely or with its joint venture partner, RioCan Real Estate Investment Trust.

Transaction Details

The transaction is financed through a combination of equity contributions from new investors, including Amazon, Authentic Brands Group, Salesforce, M. Klein & Company, G-III Apparel Group, and others, an issuance of $2.2 billion of Senior Secured Notes, and an Asset-Based Lending (ABL) revolving credit facility. Existing investors, including Rhône, Insight Partners, Abu Dhabi Investment Council, Abrams Capital, and others are maintaining their ownership in the new structure.

Advisors

M. Klein & Company served as financial advisor and capital markets advisor to Saks Global on the acquisition of Neiman Marcus Group and related financings. Solomon Partners also served as a financial advisor to Saks Global.

Jefferies LLC served as a financial advisor to Saks Global and was also Lead Left Bookrunning Manager for the Senior Secured Notes issuance.

BofA Securities, RBC Capital Markets, Citigroup Global Markets Inc., and Morgan Stanley served as financial advisors to Saks Global, led the Asset-Based Lending (ABL) revolving credit facility, and served as Joint Bookrunning Managers for the Senior Secured Notes issuance.

Elm Street Advisors served as strategic, commercial and operational advisor. Deloitte served as a financial and tax advisor to Saks Global.

Willkie Farr & Gallagher LLP served as legal counsel to Saks Global.

About Saks Global

Saks Global is a combination of world-class luxury retailers, including Saks Fifth Avenue and Saks OFF 5TH, as well as a portfolio of prime U.S. real estate holdings and investments. Saks Global is deeply committed to helping luxury consumers discover the most sought-after established and emerging brands from around the world. Powered by data-driven technology and centered on the customer, Saks Global is on a mission to redefine the luxury shopping experience through highly personalized service, with greater opportunities for product discovery across all channels.

About Neiman Marcus Group

NMG is the parent company of leading U.S. multi-brand luxury retailers Neiman Marcus and Bergdorf Goodman. The company successfully transformed itself into a profitable luxury relationship business by Revolutionizing Luxury Experiences for customers, brand partners, communities, and associates. Its differentiated business model is anchored around integrated retail, an expertly curated product assortment, and a sales-assisted approach. For more information visit neimanmarcusgroup.com to view our Info Kit.

Contacts

sakspress@saks.com

WASHINGTON–(BUSINESS WIRE)–#barcelona–Historic Hotels Worldwide® represents more than 350 of the finest, most authentic historic hotels in more than 47 countries. In December and January, these historic hotels, inns, chateaus, castles, and haciendas are illuminated according to local customs for the holiday season, creating beautiful spaces for guests to celebrate one or more of the festive holidays and observances that take place during this time of the year. The historic hotels featured in The 2024 Top 25 Historic Hotels Worldwide Holiday Traditions and Spectacular Displays list host extraordinary parties, one-of-a-kind cultural performances, religious services, charitable campaigns, and festive Afternoon Teas for December holidays including the Winter Solstice, Hannukah, and Christmas, and/or January holidays, including New Year’s Eve and New Year’s Day. These hotels put up spectacular displays of Christmas or holiday trees, light exhibitions, magnificent gingerbread houses or chocolate sculptures, and greenery. Many historic hotels featured on the 2024 list incorporate charitable giving into their holiday programming: organizing food drives, collecting monetary donations and gifts for less fortunate children and families. Other historic hotels are featured for their festive activities and proximity to Europe’s finest Christmas markets in Barcelona, Helsinki, Prague, and Dresden. Wherever you are as 2024 ends, Historic Hotels Worldwide wishes travelers and explorers Bonne Année! Frohes Neues Jahr! Veselý Silvestr! Bliadhna Mhath Ùr! Srećna Nova Godina! Happy New Year!

Dromoland Castle (1014) Newmarket-on-Fergus, County Clare, Ireland

Nollaig Shona Duit means “Happy Christmas to you” in Irish Gaelic, and guests of Dromoland Castle in County Clare, Ireland, hear it often between December 12 and January 6. In fact, Dromoland Castle offers a weekly Irish Language Class with their resident Sustainability Officer. The hotel celebrates a traditional Irish Christmas every year to share ancient customs and new holiday traditions with guests. The halls are decked with deep green holly, laden with crimson berries, traditionally hung to represent a wish for better luck in the coming year. Christmas trees are a relatively new holiday custom in Ireland. Mistletoe is another ancient tradition that can be spotted at Dromoland Castle. Ancient Celts believed that mistletoe possessed healing powers. It was banned for centuries by Christians, as it was seen as a symbol of Paganism. Now incorporated into the Christian holiday, it symbolizes peace and goodwill—or somewhere to steal a kiss! One of Dromoland Castle’s newer holiday traditions is also a spectacular display: the gingerbread house. Every year, on December 12, the hotel erects its gingerbread display, a beloved tradition led this year by Head Pastry Chef Chandima Gamage. On St. Stephen’s Day (December 26, also called Boxing Day), the Wren Boys visit the castle to perform traditional dances and songs dressed in straw suits and other motley garb to raise money for charity. The tradition of the Wren Boys goes back centuries, if not more than a thousand years, and can be traced to both Pagan and Christian holiday traditions. Dromoland Castle was inducted into Historic Hotels Worldwide in 2011 and dates to 1014, enhances sustainability around the holidays by incorporating greenery from its own 500-acre estate and is the recipient of the Sustainability Champion for the 2022 Historic Hotels Worldwide Annual Awards of Excellence.

Sofitel Legend The Grand Amsterdam (1578) Amsterdam, Netherlands

Sofitel Legend The Grand Amsterdam is located between two historic canals in the heart of Amsterdam, and it offers five-star luxury accommodations featuring French elegance and grandeur. The Festive Season at The Grand promises guests timeless holiday grandeur, including special dining opportunities and extravagant holiday trees. On December 25 and December 26, guests can indulge in the hotel’s Festive Brunch, while enjoying sparkling holiday decorations, live music, and colorful desserts. Guests can enjoy holiday meals at restaurant Bridges and discover the rich scents and flavors of the dishes and perfectly paired wines that put guests into the holiday spirit. Guests can also celebrate the holidays in Mediterranean-style by enjoying lunch or dinner at Oriole Garden Bistro. When the hustle and bustle become too much, guests can relax at the Sofitel SPA and relax in its truly tranquil atmosphere. Sofitel Legend The Grand Amsterdam was inducted into Historic Hotels Worldwide in 2018 and dates to 1578.

Hacienda de los Santos (1710) Álamos, Sonora, México

Hotels are perhaps one of the most appropriate places to celebrate the Mexican tradition of Las Posadas (“The Inns,” in Spanish), and the historic Hacienda de los Santos in Álamos, Mexico, hosts one every Christmas Eve. An important part of any Las Posadas celebration is the dramatization of the Christian story of Mary, the mother of Jesus, and her husband, Joseph, arriving in Bethlehem, looking for lodging. At Hacienda de los Santos, La Posada features three guitarists, who lead a long procession from the hotel through a nearby neighborhood. The procession continues with Joseph leading the burro (donkey) carrying Mary, followed by Three Wise Men, and then around 75 hotel guests. The guests follow La Posada actors through Mary and Joseph’s journey until they arrive back at the hotel, where baby Jesus arrives. Hacienda de los Santos’s spectacular holiday display is a nativity scene. Each year, the hotel builds a structure for the live nativity scene, with palm sides and a roof, large enough for Joseph, Mary, and a baby to fit inside. The Las Posadas tradition can be traced back to the holiday planning during the season of Advent of early Catholic friars near Mexico City. Today, it is a custom in Mexico, with variations of the tradition celebrated among Catholics in the Philippines, the United States, and other Latin American countries. Hacienda de los Santos began this tradition 20 years ago. After La Posada, visitors celebrate with a toast and enjoy a four-course meal. Hacienda de los Santos was inducted into Historic Hotels Worldwide in 2015 and dates to 1710.

Hotel Claude Marbella (1650) Marbella, Spain

Located in the luxurious resort city of Marbella, Hotel Claude Marbella occupies the former summer residence of Eugénie de Montijo, Empress of France and wife of Napoleon III. The 17th-century manor house, built in 1650, has been fully converted to provide all of the modern comforts that guests require. Guests that stay at Hotel Claude Marbella on January 5 are perfectly situated to observe Los Reyes (“The Three Kings”) holiday celebrations taking place that afternoon and evening. Observed and celebrated across Spain, the Three Kings Day holiday honors the day when the Three Wise Men arrived in Bethlehem to honor baby Jesus. Celebrants observe the day through gift-giving, parades, and sweets for children. The modern celebrations of an ancient observance can be traced back to Alicante in 1866, where the first formally organized Three Kings Day parade took place. In Marbella today, the festivities begin around midday, when the city’s mayor welcomes the Three Kings as they step off a boat at Puerto Deportivo. In the evening, there is a carnival-like processional in the Old Town neighborhood along Avenida Ricardo Soriano. Roads are closed on January 5 in Marbella, so guests should plan accordingly. The hotel is about a 20-minute walk from Puerto Deportivo, where guests can wait for the Three Kings to arrive. Avenida Ricardo Soriano is half the distance, only a 10-minute walk from the hotel to the parade route. Hotel Claude Marbella provides a beautiful holiday display for its guests. The historic hotel is decorated with beautiful fairy lights and a Christmas tree, with holiday music playing throughout the holiday season. Hotel Claude Marbella was inducted into Historic Hotels worldwide in 2022 and dates to 1650.

Hotel Taschenbergpalais Kempinski Dresden (1713) Dresden, Germany

Built in the 18th century by the Saxon King, Augustus the Strong, Hotel Taschenbergpalais Kempinski Dresden is a beautiful combination of historic palace architecture and contemporary elegance. Faithfully restored in 1995, Hotel Taschenbergpalais Kempinski Dresden is located in Dresden’s historic city center. It is only a few steps away from the city’s most renowned sights and a block from one of the world’s most historic Christmas markets: Striezelmarkt, whose origins as a market can be traced to 1434, and is celebrating 590 years of holiday shopping in 2024. The market is open through Christmas Eve, with 240 vendors, and features special cultural events throughout the Christmas season, such as daily puppet shows, live music, and history tours of the area around the historic square. For guests at Hotel Taschenbergpalais Kempinski Dresden, their base for exploring Dresden is the perfect place to relax after a long day of shopping and exploring. One of the hotel’s most charming winter activities is the dining experience available in the impressive inner courtyard, transformed into an Alpine chalet between November 2024 and February 2025. Hotel Taschenbergpalais Kempinski Dresden was inducted into Historic Hotels Worldwide in 2017 and dates to 1713.

Hotel Maximilian’s (1722) Augsburg, Germany

According to oral traditions, the first iteration of Hotel Maximilian’s in Augsburg, Germany, appeared in the 1490s, when an inn in the same neighborhood offered accommodations to overnight travelers from across Europe. When asked about its time-honored holiday traditions, the staff are quick to tell a story that dates to the earliest recorded iteration of the hotel: the story of the four Abyssinian (Ethiopian) monks. In the winter of 1495, when the historic inn was located diagonally opposite to where its current building stands today, four holy men of the Abyssinian Church were traveling through Germany during a harsh winter. According to legend, they sought shelter but were turned away at every door. On the outskirts of Augsburg, one of the men lost his life to the merciless conditions, but the other three continued to search for help. The historic hotel’s innkeeper, Konrad Minner, brought the three survivors back to his inn, and aided in their recovery through the remainder of winter. Before their departure the following spring, the three men were immortalized in a blackboard sketch that then became the inn’s sign. Three terra cotta busts depicting the monks, original creations by sculptor Ehrgott Bernhard Bendl, hang in the hotel’s lobby today. Carrying on this spirit of charity over the centuries, one contemporary tradition at the hotel is its Christmas wishing tree. Children from the Frère-Roger Children’s Center in Augsburg are invited to write their wish for a certain gift on a letter, and to place their letter on the tree. Staff and guests of the hotel are encouraged to take one of these letters and fulfill the wish of a child. Shortly before Christmas, the children are invited to a festive tea event at the hotel and are presented with their gifts. The tradition began in 2016, and the hotel considers it part of its investment in the happiness and future of the city. Hotel Maximilian’s was inducted into Historic Hotels Worldwide in 2019 and dates to 1722.

Las Casas Filipinas de Acuzar (1780) Bagac, Philippines

Set on the sandy banks of Bagac Bay in the Philippines, Las Casas Filipinas de Acuzar is a prestigious collection of historic Spanish-Filipino, Colonial-style structures. Founded with the mission to celebrate and preserve Filipino cultural heritage, Las Casas Filipinas de Acuzar features a variety of magnificent holiday displays and traditions during the Christmas season. The lead-up to Filipino Christmas lasts for nine days, with the Catholic novena masses starting on December 16 and ending on December 24. The church within the resort, the Sanctuario de San Jose, also conducts an evening mass, Simbang Gabi (Filipino for “night mass”), every evening at 6 p.m. Guests can attend the mass while staying at the resort and partake in the traditional Filipino foods at the food kiosks stationed near the church. Bibingka (a rice cake made with sugar and coconut milk, baked in an oven) and Puto Bumbong (a purple rice cake steamed in bamboo shoots, served with toppings like butter, sugar, and coconut shavings) will also be available all day at La Parilla for guests to try these signature Christmas snacks. Las Casas Filipinas de Acuzar was inducted into Historic Hotels Worldwide in 2017 and dates to 1780.

Gamlebyen Hotell Fredrikstad (1835) Fredrikstad, Norway

Ideally situated along the captivating cobblestone streets of historic Old Town Fredrikstad, just an hour south of Oslo, Gamlebyen Hotell Fredrikstad is a small gem of a hotel in one of Scandinavia’s most historic and best-preserved fortified towns. Fredrikstad takes pride in preserving the authentic Scandinavian character of the town, and its holiday celebrations reflect this. Established in 1835, Gamlebyen Hotell Fredrikstad decorates for the holiday season in a traditional Norwegian style, using candles, pine trees, hay bales, and red bows. During the last weekend of November, the community gathers to decorate a tree on the town square, illuminate the village streets with fairy lights, and open its charming Christmas market. The hotel also kicks off an annual gingerbread house competition, which is open to the public. Guests of the Gamlebyen Hotell Fredrikstad can participate by entering their gingerbread creations or coming to admire the amazing gingerbread displays. Additionally, guests of the historic hotel can enjoy Christmas shows, indulge in a romantic dinner featuring both local and Norwegian holiday cuisine, and cozy up with a cup of mulled wine in front of the fireplace in the town’s historic debtors’ prison. The fortified town has a strong military history. It was built during a time of war, and for many years, it served as a training ground for mandatory army recruits. Fifteen years ago, the army moved out, but the town still retains a tiny nod to its military past: the local Santa Claus now drives around in his Christmas-themed army jeep! Gamlebyen Hotell Fredrikstad was inducted into Historic Hotels Worldwide in 2023 and dates to 1835.

Hotel Schweizerhof Luzern (1845) Lucerne, Switzerland

Owned and operated by the same family since the 19th century, Hotel Schweizerhof Luzern is among the most prestigious holiday destinations in Switzerland. It is located within the Old Town of Lucerne, a city center that has been settled for close to a millennium and is situated right on Lake Lucerne. The hotel is only steps away from countless cultural attractions, like the Chapel Bridge, Glacier Garden, the Lion Monument, and the Lucerne Culture and Congress Centre. From the hotel, guests can enjoy a 10-minute walk to the Lucerne Christmas Market on Franziskanerplatz. While taking this walk, guests will cross the Reuss on the historic, covered, wooden Chapel Bridge. The Christmas Market is held in a square near a medieval Franciscan Church, St. Maria zu Franziskanern, and is open from 11 a.m. through the evening, between December 5 and December 22, 2024. Approximately 70 vendors sell goods, foods, and mulled wine, and special events include yodeling and brass band performances. Back at the hotel, guests can enjoy live music and dancing. Hotel Schweizerhof Luzern was inducted into Historic Hotels Worldwide in 2011 and dates to 1845.

Hotel España (1859) Barcelona, Spain

In the historic heart of Barcelona, Spain, Hotel España is a historic gem with a long legacy of offering leisure and luxury to its guests. For travelers, it is a perfect place to stay while exploring one of Europe’s most cosmopolitan cities and is a perfect base for exploring Christmas markets during the holiday season. Spain is not known for its Christmas markets, so the Catalan city stands out this time of year, as Barcelona has many Christmas markets open between November and January each year. Well-known traditional Christmas markets are open through December 23. These include Fira de Santa Llúcia, which has been held at the city’s gothic cathedral for more than 225 years, and the Fira de Nadal de la Sagrada Familia, another traditional holiday market located at the Basílica de la Sagrada Familia. This year, a new holiday fair will be open daily, from 11 a.m. to 11 p.m., through January 6: Port Vell Christmas Fair, located by the waterfront of the Moll de la Fusta. These holiday markets are a brisk walk or a short car ride from the hotel. For example, guests can enjoy a 10-minute walk between the hotel and the Cathedral of Barcelona to visit Fira de Santa Llúcia. Back at the hotel, guests can enjoy holiday specials at the Fonda España restaurant, and take in views of the city, all lit up for the holiday season, atop the Alaire Ramblas terrace. Hotel España was inducted into Historic Hotels Worldwide in 2021 and dates to 1859.

Britannia Hotel (1870) Trondheim, Norway

Set in the historic and culturally significant metropolis of Trondheim, Norway, Britannia Hotel is a Neoclassical-style hotel dating to 1870, with historic connections to polar expeditions, Norway’s independence, and royal receptions. During the holidays, it celebrates the season with special musical and dining events, as well as unique and charming holiday décor. This year, the hotel’s talented pastry team crafted a beautiful holiday showpiece—almost completely edible—dedicated to the new Nye Hjorten Teater, which will open across the street from the hotel on January 15, 2025. As a welcome to its new neighbor, the sculpture is made from 25 kg of chocolate and 6 kg of marzipan. It features a tableau that combines the magic of theater with the magic of Christmas. The display depicts a theater, complete with seating, a stage, and bright-red curtains. Performers sing and fly around the stage. Atop the stage are edible sculptures of Santa Claus in a chocolate sleigh pulled by reindeer, complemented with marzipan trees and a shining gold star. This work of art can be seen during the holiday season in the hotel lobby. In 2025, guests of the Britannia Hotel can enjoy dinner at Palmehaven and a show across the road. Britannia Hotel was inducted into Historic Hotels Worldwide in 2024 and dates to 1870.

Grand Hotel Huis ter Duin (1885) Noordwijk aan Zee, Netherlands

Located an equal distance from both Amsterdam and The Hague, Grand Hotel Huis ter Duin is located in Noordwijk aan Zee, Netherlands, and is a historic seaside retreat that has been offering fantastic views of the North Sea for more than a century. Since 2009, the hotel has celebrated the December holidays with a massive Christmas tree in the hotel garden. At the beginning of the month, the hotel hosts a spectacular tree-lighting ceremony with a different ambassador visiting each year to illuminate the tree. According to tradition, the Christmas Tree Ambassador is kept secret until the last moment, and, during the ceremony, the anonymous ambassador is called forward to be revealed by the Director of Grand Hotel Huis ter Duin. The ambassador takes center stage, pronounces their wishes for the Christmas season, and then presses a big, red button. After a music and light show, the Christmas tree is officially lit, and the Christmas season starts at Grand Hotel Huis ter Duin. Ambassadors are chosen for different reasons during different years, but most of them have a background in sports, politics, cultural influence, or entrepreneurial success. This year’s ambassador was astronaut André Kuipers. Regular guests and staff and their families are invited to the ceremony. The tree, which stays up through the first week of January, is a popular place for holiday portraits and family photos throughout the holidays. Grand Hotel Huis ter Duin was inducted into Historic Hotels Worldwide in 2011 and dates to 1885.

Hamilton Princess & Beach Club, A Fairmont Managed Hotel (1885) Hamilton, Bermuda

Hamilton Princess & Beach Club, A Fairmont Managed Hotel opened in 1885 as an urban oasis in the Bermuda capital city of Hamilton. Built in honor of the British Empire’s Princess Louise after her 1883 visit to Bermuda, the hotel is still known as an ideal getaway that promises to delight guests any time of the year. During December, the delights get kicked up a notch at “The Pink Palace,” and there is no shortage of holiday traditions and spectacular displays for guests and visitors to enjoy. The annual Christmas tree and gingerbread displays can be found in the hotel lobby, as well as holiday decorations spread across the resort, including the popular and Instagram-worthy Tunnel of Lights in the hotel courtyard. This year, the hotel’s gingerbread house—standing at over six feet tall—is joined by a true-to-size gingerbread moongate, one of Bermuda’s most iconic symbols. One Hamilton Princess tradition that is unique to the island hotel is the Boxing Day dance performed by a troupe of masked Bermuda Gombey dancers. Although other islands share a similar tradition, Gombey dancing was recognized as a uniquely Bermudian art form at a UNESCO Cultural and Conservation Conference. During the holiday season, the Gombey dancers perform both on Boxing Day and New Year’s Day, as well as during other important events and festivals on the island. From its records, the hotel knows that its Boxing Day Gombey dance performances dates to at least the 1970s. Hamilton Princess & Beach Club, A Fairmont Managed Hotel was inducted into Historic Hotels Worldwide in 2018 and dates to 1885.

The Hotel Maria (1885) Helsinki, Finland

The Hotel Maria stands proudly in the heart of historic Helsinki, Finland. Located in the residential area of Kruununhaka, lovingly referred to by locals as Krunikka, this neighborhood has been the educational and governmental epicenter of the city since its growth in the early-19th century. The hotel was originally constructed in 1885 as Russian military barracks prior to Finnish independence from Russia, restored as a luxury hotel in 2023, and inducted into Historic Hotels Worldwide in 2024. The Helsinki Christmas Market is a 10-minute walk from The Hotel Maria, notably one of Europe’s most walkable cities. In addition to over 100 vendors, the market has an extensive musical and cultural program. Santa Claus visits on Saturday afternoons and the Sunday before Christmas, and traditional Finnish music plays through speakers throughout the market. Ahead of Christmas, the market embraces two additional holidays: on December 6, Finland celebrates its independence, and on December 13, a St. Lucia’s Day procession is held at Helsinki Cathedral next to the holiday market. The historic Christmas Market has been a local tradition since vendors gathered around the holiday season in smaller numbers to sell their wares in the 1800s and has been organized in its current form since the 1990s. At The Hotel Maria, guests can enjoy the market and return for Christmas programming at the hotel, including dining, music, and festive amenities.

The Savoy London (1889) London, England, United Kingdom

On November 25, 1882, Gilbert and Sullivan’s Iolanthe premiered at the Savoy Theatre. The theater was the world’s first fully electric public building, thanks to Sir Joseph Swan, the inventor of the incandescent lightbulb, who was hired to illuminate the theater. The show’s designers took advantage of the rare, new technology; they adorned the lead fairy characters in Iolanthe with small electric lights—named “fairy lights”—and delighted the audience. A year later, Edward H. Johnson, Vice President of the Edison Electric Light Company, took the new string light technology and used it to decorate the Christmas tree at his home on Fifth Avenue in New York City.

Contacts

Katherine Orr

Director, Marketing Strategy and Communications

Historic Hotels of America │ Historic Hotels Worldwide

Tel.: +1-202-772-8337

korr@historichotels.org

Read full story here

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announces the publication of its second Environmental, Social & Governance (“ESG”) Report, in which Primaris outlines its ESG plan and the material ESG factors, governance practices, accomplishments, and metrics that impact its business. Primaris also present its inaugural ESG targets. Consistent with the REIT’s financial disclosures, Primaris aims to provide clear and transparent disclosure and communication about the REIT’s business and ESG practices.

“Through a substantial amount of work across all our functional departments, Primaris is making great progress against our ESG plan,” said Alex Avery, Chief Executive Officer. “This year we made significant improvements in data collection across the organization, as well as year-over-year reductions to greenhouse gas emissions, and energy and water consumption. This is a testament to our very engaged and experienced property management team who are continuously looking for ways to optimize our properties. Primaris will continue to work to achieve our business and ESG objectives while acting in a manner consistent with our core values, and the best-in-class profile we have created, being a respected and sought-after partner and transaction counterparty, and a preferred place for employees to work.”

ESG Report Highlights

• Governance
  • Achieved GRESB 3-star rating in 2024 (scored 80 on a 100-point scale, 15-point improvement);
  • Achieved an “A” MSCI ESG Rating, up from “BBB”;
  • Developed ESG targets;
  • Integrated ESG into employee performance review process;
  • Maintained open and direct engagement between Primaris’ Trustees and Primaris’ investors, in the absence of management; and
  • 33% of Trustees are female.
• Environmental
  • Implemented utility data management software system;
  • -4.9% change in like-for-like greenhouse gas (“GHG”) emissions;
  • -3.7% change in like-for-like energy consumption;
  • -9.0% change in like-for-like water consumption;
  • 100% of shopping centres are green building certified; and
  • Incorporated green lease language into standard lease form.
• Social
  • Obtained an 83% satisfaction score pursuant to its 2023 tenant engagement survey;
  • Females comprise of the following:
    • 38% of executives;
    • 54% of senior management;
    • 56% of total employees; and
  • Formalized and launched tenant and community engagement program.

In 2024, as part of the ESG Plan, the REIT developed ESG targets informed by the material ESG factors and their link to key business performance metrics. These targets represent a further demonstration of the ESG commitment and are linked to business strategy:

Metric	Target	Current	Measurement Period
Board of Trustee Diversity by Gender	30% female	33% female	Annually
Absolute GHG Emissions Reduction1	25% reduction by 2035	4.9% reduction	Against baseline year, 2022
Green Building Certifications	100% Shopping centres LEED or BOMA BEST certified	100%	Annually
Employee Engagement	≥85%	86%	Every 3 years
Tenant Satisfaction	≥85%	83%	Annually
GRESB	≥80%	80 points	Annually

¹ This target includes scope 1, 2, and select scope 3 emissions. Select scope 3 emissions includes downstream leased assets such as tenant emissions.

Primaris’ inaugural ESG Report can be found here or at www.primarisreit.com.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing mid-sized markets. The current portfolio totals 13.4 million square feet valued at approximately $4.1 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities legislation which reflects the Trust’s current expectations regarding future events. Although the Trust believes that the expectations reflected in such forward-looking information are reasonable, assessing forward-looking ESG metrics and risks, and climate metrics and risks in particular, is more complex and longer-term in nature than traditional business metrics and risks. Many forward-looking methodologies are new and evolving, and there is limited guidance from methodology providers on the calculation or comparability of these measures. In particular, uncertainty around future climate-related policy can contribute to greater variation in transition pathway models. Future updates to factors such as changes in global emissions, available technologies or economic conditions may result in changes to the Trust’s reporting. A number of additional factors, including improvements to the coverage, quality, and availability of the Trust’s data and methodologies, may also necessitate changes. The information in this news release reflects what the Trust believes is the best available data. The Trust’s ability to achieve its ESG goals and targets are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information and may require the Trust to adjust its ESG initiatives, targets, activities or plans to reflect a changing landscape. Such risks and uncertainties include, but are not limited to; the availability, accessibility and suitability of comprehensive and high-quality data; the development of consistent, robust and comparable ESG metrics, targets, and methodologies, in particular in respect of climate change; the development and deployment of new technologies and industry-specific solutions; international cooperation; the development of provincial, national and international laws, policies and regulations in respect of ESG matters; and additional factors and risks discussed in the Trust’s 2023 Annual Information Form and Annual Report to Unitholders. The forward-looking statements in this news release are presented for the purpose of assisting investors and other stakeholders in understanding the Trust’s ESG priorities, strategies and objectives, and may not be appropriate for other purposes. Undue reliance should not be placed on the forward-looking information in this news release. The Trust does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this news release are made as of December 19, 2024, and are qualified by these cautionary statements.

For more information: TSX: PMZ.UN www.primarisreit.com www.sedarplus.ca

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

TORONTO–(BUSINESS WIRE)–#ChoiceProperties–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting fourth quarter 2024 results on Wednesday, February 12, 2025, after-market hours.

Management will host a conference call the next day on Thursday, February 13, 2025 at 10:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial 1 (888) 330-2379 or 1 (240) 789-2710 and enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through places where people thrive.

We are more than a national owner, operator and developer of high-quality commercial and residential real estate. We believe in creating spaces that enhance how our tenants and communities come together to live, work, and connect. This includes our industry leadership in integrating environmental, social and economic sustainability practices into all aspects of our business. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedarplus.ca.

Contacts

For more information:

Mario Barrafato

Chief Financial Officer

Choice Properties REIT

(416) 628-7872

Mario.Barrafato@choicereit.ca

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (NASDAQ: REAX), a technology platform reshaping real estate for agents, home buyers and sellers, is proud to announce the release of its inaugural Sustainability Report.

“Our first Sustainability Report marks a significant step in our journey toward responsible business practices and a sustainable future in real estate,” said Tamir Poleg, Chairman and CEO of Real. “While we are proud of the progress we’ve made to date, we recognize there is much more to accomplish. We look forward to continuing this journey alongside our stakeholders as we advance sustainability initiatives that create long-term value for our shareholders, agents, employees, communities, and partners.”

Key highlights from the report include:

• Innovative Technology Initiatives: Continued enhancement of Leo, an AI-powered virtual assistant that enhances agent productivity while promoting resource efficiency.
• Supporting Communities: Expansion of the One Real Impact program to support agents during times of hardship.
• Employee-Centered Policies: Implementation of a flexible PTO policy to promote employee well-being and work-life balance.
• Cybersecurity Measures: Development of a framework to protect sensitive data.

With over 23,000 agents across North America, Real’s rapid growth is underpinned by its dedication to responsible and sustainable business practices. The company’s innovative technology platform positions it uniquely to reshape the home buying and selling experience in a more efficient and sustainable way.

The inaugural Sustainability Report is available on Real’s website by following this link.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence throughout the U.S. and Canada, Real supports more than 23,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s initiatives and programs, and ability to continue to attract agents.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns, Real’s ability to attract new agents and retain current agents and those risk factors discussed under the heading “Risk Factors” in the Company’s Annual Information Form dated March 14, 2024, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

Investor inquiries:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

For media inquiries:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com
201.564.4221

LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), is pleased to announce the acquisition of its newest self-storage facility in Edmonton, Alberta, Canada.

Located at 14135 128 Ave NW in Edmonton, Alberta, this newly acquired Class A property spans approximately 65,200 net rentable square feet. It features a single-story building with approximately 480 interior climate-controlled units and two additional buildings offering approximately 80 drive-up units. The facility is easily accessible from St. Albert Trail, a major arterial road, and Yellowhead Trail, an expressway used by more than 80,000 commuters daily, and it serves both urban and suburban areas. The above-average median household incomes within a five-mile radius further highlight the site’s strong market potential. This facility is well-suited to serve the neighborhoods of Hudson, Wellington, Athlone, Kensington, Calder, Rosslyn, Prince Charles, Sherbrooke, Woodcroft, Dovercourt, North Glenora, Glenora, Westmount, Grovenor and Northwest Edmonton.

H. Michael Schwartz, CEO and President of SSGT III, expressed his enthusiasm for the acquisition, stating, “This property reflects our commitment to growing our presence in Canada and providing premium storage solutions. By expanding in the greater Edmonton area, we are excited to deliver unmatched convenience and security to the local community, further solidifying our reputation as a leader in the self-storage industry.”

About Strategic Storage Growth Trust III, Inc. (SSGT III):

SSGT III is a Maryland corporation that elected to qualify as a REIT for federal income tax purposes. SSGT III’s primary investment strategy is to invest in growth-oriented self-storage facilities and related self-storage real estate investments in the United States and Canada. As of December 18, 2024, SSGT III has a portfolio of six operating properties in the United States, comprising approximately 5,160 units and 556,400 rentable square feet; three operating properties in Canada, comprising approximately 1,640 units and 183,900 rentable square feet; and joint venture interests in two developments in two Canadian provinces (Québec and British Columbia). In addition, a subsidiary of SSGT III serves as the sponsor of a Delaware Statutory Trust, which owns two operating properties in the United States comprising approximately 1,040 units and 123,000 rentable square feet.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 525 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of December 18, 2024, SmartStop has an owned or managed portfolio of 206 operating properties in 22 states and four Canadian provinces, comprising approximately 145,700 units and 16.4 million rentable square feet. SmartStop and its affiliates own or manage 38 operating self-storage properties in Canada, which total approximately 33,000 units and 3.4 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U and TSX: DRR.UN) (“Dream Residential REIT” or the “REIT”) today announced its December 2024 monthly distribution in the amount of US$0.035 per unit (US$0.42 annualized). The December distribution will be payable on January 15, 2025 to unitholders of record as at December 31, 2024.

About Dream Residential REIT

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.

Contacts

For further information, please contact:

Dream Residential REIT

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Derrick Lau
Chief Financial Officer

(416) 365-2364

dlau@dream.ca

Scott Schoeman
Chief Operating Officer

(303) 519-3020

sschoeman@dream.ca