China Property Woes Deepen With Vanke Slump, Country Garden Halt
One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
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One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus, according to people familiar with the matter, moving two of America’s biggest high-end department stores closer to a deal after years of on-and-off courtship.
Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
Plunging demand for commodity offices in the US is driving growth for the highest-quality properties, a Morgan Stanley executive said.
Jan 23, 2018
The Canadian Press
TORONTO -- While Ontario landlords are looking to ban marijuana use in their rental units and several municipalities don't want legal cannabis stores in their neighbourhoods, a U.S. study suggests that pot could lift property values.
Property prices for homes in Colorado close to shops that converted to recreational marijuana from medical marijuana in 2014 saw a roughly eight per cent boost, the study by professors based in Wisconsin, Georgia, and California found.
Experts say it's too early to tell if Canadian homeowners can expect a similar effect, but note that retail locations could benefit neighbourhoods by driving foot traffic to merchants, as well as reducing crime.
The president of the Canadian Federation of Apartment Associations said Monday that landlords should be allowed to prohibit marijuana usage in their properties in Ontario, where proposed provincial law will limit pot consumption to private residences.
That comes after the Ontario government in December appeared to backtrack on its earlier statement that municipalities could not opt out of hosting marijuana stores as a City of Richmond Hill committee unanimously endorsed a statement saying it was not willing to host one.
Queen's University real estate professor John Andrew says a legal cannabis store could potentially drive more customer traffic to nearby retailers, boosting interest in the surrounding area that may eventually spillover into the residential neighbourhood.