CINCINNATI—Macy’s Inc. has stepped up its previously announced real estate initiatives, announcing Wednesday that it had hired Eastdil Secured to market partnerships or joint ventures on its mall properties as well as flagship urban locations, including the iconic Herald Square store. The retailer also announced 40 store closings, including four that have already occurred, along with a revamp of its operations.

Eastdil, which will be assisted by Credit Suisse and Goldman Sachs, joins “a team of experienced advisors in banking, real estate, law and tax who are focused on monetizing real estate assets in a manner consistent with Macy’s overall strategy,” Macy’s said Wednesday afternoon. Already part of that team is Tishman Speyer, which Macy’s announced this past November as an advisor on potential store redevelopment projects.

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