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During Macy's first quarter earnings name on Might 13, Chief Monetary Officer Karen Hoguet addressed the company's real property technique, suggesting that some estimates valuing its belongings have been accomplished "over simplistically." In response to its final annual report, Macy's property has a e-book value of $7.eight billion. Nicely, as Entrepreneur magazine factors out , real property generally is a blessing for those who struggle with financial savings.
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But rules of thumb haven't any relevance for skilled real property investors to set the acquisition worth. So whereas artwork and London actual property have outperformed gold, prime New York City real estate has lagged.
Thirty-one p.c of those surveyed chose actual property as their go-to long-time period funding, with shares and mutual funds following behind, with 25% satisfied of their lengthy-time period investment potential.
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Numerous distinguished hedge funds have just lately acquired stakes, though it's unclear which have approached Macy's administration with actual property proposals.
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