LONDON, Nov 6 (Reuters Breakingviews) - Canary Wharf tends to have a new owner every decade.
A recent 300 million pound equity injection implies they will buck the trend.
Brookfield and the QIA, which own the estate’s developer Canary Wharf Group through a 50-50 partnership, ostensibly look to be backing a losing horse.
Factoring in all its assets on the Canary Wharf estate, Brookfield as of September valued it all at $6.1 billion, or 5 billion pounds – over 2 billion pounds more than what the duo put in eight years ago.
Canary Wharf could be owned by highly leveraged, shallow-pocketed types.
Persons:
–, Paul Reichmann’s Olympia, Morgan, Breakingviews, dory, George Hay, Oliver Taslic
Organizations:
Reuters, HSBC, HK, London Docklands, Qatar Investment Authority, Canary, York, Morgan Stanley, Jefferies, Reuters Graphics Reuters, Brookfield, Wharf Group, Thomson
Locations:
Brookfield, –, CWG, City, Wharf