Connect with us

Hi, what are you looking for?


Kohl’s receives a bid that could help monetise its real estate

Kohl’s Corporation (NYSE: KSS) ended more than 5.0% up on Friday after Oak Street Real Estate Capital LLC said it was interested in buying up to $2.0 billion worth of its property and lease it back to the retailer.

Oak Street already has such deals with other retailers

The private equity company has a history of making such deals with a number of other retailers, including Big Lots and the Reddit’s favourite Bed Bath & Beyond.

Negotiations with Kohl’s that currently operates 1,100 stores in total are now ongoing. How many of these will be covered in the agreement is yet to be known.

Both the parties have refrained from making an official comment on the stock market news so far and there’s no guarantee that an agreement will indeed be signed. Kohl’s shares are down more than 50% versus the year-to-date high.

Kohl’s had been wanting to monetise its real estate

Earlier this year, Franchise Group had shown interest in buying Kohl’s Corp for about $8.0 billion – a deal that Oak Street wanted to help finance.

In July, however, those “talks” were terminated on deteriorating retail landscape and a slowdown in the broader economy. At the time, Kohl’s had said it will explore ways to monetise its real estate.

On Friday, Oak Street offered $1.5 billion to $2.0 billion for it to realise that goal. Last month, Kohl’s warned its sales will be hit up to 6.0% this year after net income crashed 63% year-on-year in Q2.  

The post Kohl’s receives a bid that could help monetise its real estate appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...


    U.S. District Court Judge Reed O’Connor recently ruled to uphold the rights of employers granted in the Religious Freedom Restoration Act, rather than uphold...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023