NRDC has completed five transactions since 2005, totaling almost $5 billion in enterprise values and has invested approximately $1.5 billion of equity for its transactions. NRDC targets transactions ranging from $250 million to $5 billion of enterprise value, requiring total equity investments of $50 million to $1.5 billion.[2][3]
Portfolio
NRDC's current portfolio consists of two of the leading companies in their sectors, Hudson's Bay Company (HBC) and Retail Opportunity Investments Corporation (ROIC).
HBC is the holding company that owns and manages over 57,000,000 square feet (5,300,000 m2) of retail properties located in Canada and the U.S. through its portfolio subsidiaries.
Hudson's Bay operates 90 department stores located in Canada[4]
Saks Fifth Avenue, technically owned by Hudson's Bay, operates 42 department stores and 65 OFF 5th outlet stores in the U.S.
NRDC formed its real estate investment trust portfolio company, ROIC, through a public equity raise of $414 million completed in October 2009. ROIC focuses on acquiring and growing high quality shopping centers. It has invested over $200 million and has completed/announced 14 transactions as of September 2010.[3]
NRDC owned Lord & Taylor from 2006 to 2019, operating 50 department stores and four outlet centers located in the U.S.[4] The sale of the chain to Le Tote Inc. was announced in August 2019.[5]Home Outfitters, another subsidiary, operated 69 kitchen, bath, and bed superstores across Canada until closing in 2019.[6]
From 2015 to 2019 NRDC owned Germany's largest department store chain, Galeria Kaufhof.[7][8][9] On April 9, 2024, it was announced that NRDC intends to once again acquire the department store chain which had become known as Galeria Karstadt Kaufhof from the insolvent Signa Holding company.[10]
