RudyAsh
22 Jan 24
BlackRock (NYSE:BLK) is trying to sell an office complex in Shanghai at an ~30% discount to its purchase price, indicating weakened demand for commercial property in China's biggest city. The asset manager is marketing the property in northwestern Shanghai at a marked-down rate to encourage the sale...
BlackRock (NYSE:BLK) is trying to sell an office complex in Shanghai at an ~30% discount to its purchase price, indicating weakened demand for commercial property in China's biggest city. The asset manager is marketing the property in northwestern Shanghai at a marked-down rate to encourage the sale, as office rents in Shanghai dropped to the lowest in almost 10 years last quarter and may fall more due to increased supply. BlackRock (BLK) bought the two-tower property from PGIM Real Estate for a reported 1.2B yuan ($167M) in 2018, and the office complex has a total of 299,290 square feet of office space.
More about BlackRock Inc
BlackRock Inc, a multinational investment management corporation, has a market capitalization of $119.6 billion and a stock price of $911.08. The stock has a 52-week low of $20 and a high of $119.62, with a current price-to-earnings ratio of 22.07. The company has shown a 0.103% return on assets and a 0.068% return on equity. Market sentiment towards BlackRock Inc is bullish, with a strong upward trend in the stock price and positive financial metrics indicating healthy performance. However, potential risks and uncertainties in the market should be considered, as past performance does not guarantee future results.
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