Asian Stocks Look Mixed as Traders Await Nvidia: Markets Wrap
European equities dropped Tuesday, pulling back from recent record highs, as investors retreated to the sidelines to await results this week from Nvidia Corp.
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European equities dropped Tuesday, pulling back from recent record highs, as investors retreated to the sidelines to await results this week from Nvidia Corp.
Retail investors pulled €10.2 billion from euro-denominated real estate funds in the year through April amid warnings that falling valuations could create liquidity pressures for the products.
Buying London star Daniel Daggers discusses the appeal of looking at London’s most expensive homes.
China Evergrande Group Chairman Hui Ka Yan’s former mansion in Hong Kong was sold at a significant discount, according to a person familiar with the matter.
China’s local governments raised the least revenue from land sales in eight years, another sign of the nation’s deepening housing crisis that has forced Beijing to pump in more cash.
Jun 22, 2017
The Canadian Press
TORONTO -- Dream Office REIT (D_u.TO) says it has struck a deal to sell office properties for $1.7 billion, with $750 million of that coming from the sale of its 50 per cent stake in Scotia Plaza in downtown Toronto to co-owners KingSett Capital and the Alberta Investment Management Corp.
The Toronto-based real estate investment trust says it will use some of the proceeds to buy back and cancel $440 million worth of its investment units.
It says it plans to cut its annual investor distributions from $1.50 to $1 per unit to boost cash flow to reinvest in its business.
Dream Office REIT says if completed, the sales will result in a total of $3.2 billion raised since it adopted a strategic plan early last year with a target of $1.2 billion over three years.
It says the value of its income properties portfolio will fall from $6.1 billion 18 months ago to about $2.9 billion, with about half of that centred in downtown Toronto.