Quote:
Originally Posted by Frequitude
Who's more boned on their recent commercial real estate decisions, Cenovus or Manulife???
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Cenovus. Clearly they aren't getting good advice from their current broker
When you say Manulife do you mean for developing 707 5th (
http://www.707fifth.com/_/_downloads...h13-2015.pdf)?
Half of that building is leased to Brion Energy so Manulife hit the pre-lease threshold to make development economical. They are going to have a big problem with the other 260,000 SF but they are so big and so well capitalized that they can wait for the market to turn around.