Man Behind ‘As Seen on TV’ PedEgg to Buy $100 Million Miami Home
Anand Khubani is negotiating one of the largest real estate purchases ever made in the Miami area, according to two people with knowledge of the matter.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Anand Khubani is negotiating one of the largest real estate purchases ever made in the Miami area, according to two people with knowledge of the matter.
The embattled head of the Federal Deposit Insurance Corp. told Republican lawmakers calling for his resignation that he was moving quickly to overhaul the agency’s workplace culture after a probe detailed dozens of sexual harassment and discrimination complaints.
Canada’s housing starts fell for a second consecutive month as the country’s construction shortfall continues.
TBD, a digital payment platform owned by Block Inc., has partnered with Chipper Cash, one of the largest financial technology firms in Africa to accelerate its global cross-border payments.
Canada’s housing market posted a surge in the number of properties available for sale, one of the biggest monthly gains in listed inventory on record, as homebuyer demand waned amid persistently high interest rates.
Feb 12, 2024
BNN Bloomberg
,The president and CEO of Sun Life Financial Inc. says headwinds in the office real estate sector are likely to continue this year, but he remains positive about the industry’s long-term outlook.
“Longer term, we see (real estate) as a good investment class,” Kevin Strain told BNN Bloomberg in a television interview on Monday.
Strain said that despite the challenging economic environment, the office real estate space will eventually “right itself” and will resume its growth trajectory over time.
“We think that people are coming back to the office… I don't think people are going back to work full-time anytime soon either, but you are seeing more and more flow back into the office space,” he said.
Strain’s optimistic comments come after Sun Life reported last week that the total value of its investment properties fell 3.8 per cent to $9.7 billion last year.
The company’s U.S. office investments saw the biggest decline – dropping from $647 million in 2022 to $476 million in 2023.
Strain said Sun Life has still seen strong returns from its real estate assets over the long term, and noted that the company had been preparing for anticipated changes in the industry by offloading some of its office spaces even before the pandemic.
“We are seeing the long-term investment returns being very strong here, so we're not looking to divest in general out of real estate,” he said.
“Although of course we look at different properties and we're always changing the mix of our real estate portfolio.”
Offsetting Sun Life’s loss in real estate value last year was strong insurance policy sales in Asia and the U.S., where Strain said the company is seeing “really good experience.”
“Broadly, we play in a bunch of different areas in the U.S. group benefits space, which is increasingly becoming a health business for us,” he said.
“Overall, that business performed very well during the year. We saw a tremendous lift in their earnings.”
The company reported last week that underlying net income in the fourth quarter increased 10 per cent from 2022 to $983 million, beating estimates from an analyst survey conducted by Bloomberg.
Meanwhile in Asia, the company’s underlying net income increased by six per cent to $143 million in the fourth quarter, behind a 49 per cent jump in individual sales.
With files from Bloomberg News