REAL ESTATE

Sale Agreement Reported for Canary Wharf: The 11 banks that own the London wharf have reached an agreement in principle to sell the development to the Paul Reichmann-led consortium for $1.24 billion, the Sunday Times reported. An announcement could be made next week, which would mean the sale could be made official within a month. One issue that remains to be resolved is whether some of the European banks that own Canary Wharf, such as Barclays Bank and Lloyds Bank, will get an equity stake, the London paper reported.