Scotiabank considers selling Toronto tower

[Richlord11]

Originally Posted by WhipperSnapper

Why should they hold on to a non-core asset like Scotia Plaza?

Because they will have enough liquidity through stock sales so there will be no need to get rid of it? At least now, when the RE market is quite steady. (but only my guess, please prove me wrong!)

[telyou]

That's the whole point. They will sell it now that the market has hit the ceiling and is still steady for the time being. Scotia knows what's coming. They're not going to look at selling when the market starts crashing. It's either this year or not for another decade.

[WhipperSnapper]

Originally Posted by Richlord11

Because they will have enough liquidity through stock sales so there will be no need to get rid of it? At least now, when the RE market is quite steady. (but only my guess, please prove me wrong!)

You won't find a better time to sell. Also, a billion dollars holed up in a non core asset like real estate is still a billion dollars holed up in a non core asset regardless of how much cash they have to spend. Divesting of non core assets has only positive affects on stocks and bonds which means more money to throw around.

[Waterlooson]

The Bank of NS has agreed to sell its head office building in Toronto for $1.266 billion to two REITS.