BlackRock, the global investment management corporation, is reported to be selling an office complex in Shanghai, China, at approximately a 30% discount to its original purchase price. The property, consisting of two towers at Waterfront Place, was acquired from PGIM Real Estate in 2018 for a reported 1.2 billion yuan (US$167 million). The towers have a combined area of 27,805 square meters (299,290 square feet). This move by BlackRock reflects the broader downturn in the commercial real estate market, particularly in China's largest city, Shanghai.
Blackstone’s, $BX, defaulted NYC office tower loan up for sale at a 50% discount, per NYP.
BlackRock is seeking to sell an office complex in Shanghai at about a 30% discount to its purchase price, sources say, reflecting the sluggish commercial property market in China’s biggest city https://t.co/tabF5MNQXu
BlackRock, $BLK, is seeking to sell an office complex in Shanghai at about a 30% discount to its purchase price, per Bloomberg.
BlackRock plans to take a 30% discount on their sale of the Shanghai Office Towers property as the office building commercial real estate rout continues globally https://t.co/oIS8xCcUK1
BlackRock $BLK is reportedly seeking to sell an office complex in Shanghai, China 🇨🇳 at a ~30% discount to its purchase price - Bloomberg
$BLK (+0.0% pre) BlackRock said to list Shanghai office complex at 30% discount - SA https://t.co/D0jctef6fp
BlackRock to Sell Shanghai Office Towers at 30% Discount, Sources Say https://t.co/9aycwKsrnh
Blackrock is selling a Shanghai office complex for 30% less than what it paid for it https://t.co/1Ad8U2ceLb
🇺🇸 BlackRock is seeking to sell an office complex in Shanghai at about a 30% discount to its purchase price. BlackRock bought two towers at Waterfront Place from PGIM Real Estate for a reported 1.2 billion yuan (US$167M) in 2018. They have a total area of 27,805 sq m (299,290 sq… https://t.co/AkMoDHuoSH