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Blackrock sold a Singapore building last month at a 34% markup
The pile of capital aimed at Asian real estate opportunities has just grown by $1.175 billion as the largest asset manager in the US announced its latest funding milestone today.
BlackRock raised the cash for BlackRock Asia Property Fund V, a value-add strategy that has now reached its closing.
“The successful fundraise demonstrates the strong confidence and trust our investors have placed in the investment capabilities and value offered by BlackRock,” said John Saunders, head of BlackRock Asia Pacific Real Estate.
The New York-based firm, which managed over $60 billion in real assets as of 31 December 2020, revealed the closing on the investment vehicle less than two years after it was first known to have begun raising funds.