BlackRock could buy as much as $2.7 billion in European property over the course of the next three years. The company plans to take advantage of the weakening euro, as it has fallen by approximately 12 percent relative to the U.S. dollar over the past year. BlackRock’s focus will be to purchase āvalue-addā buildings where it can renovate or add new tenants. Founded in 1988, BlackRock is the world’s largest asset manager with over $4.5 trillion in assets under management. According to Real Capital Analytics, foreign buyers have acquired ā¬32.5bn worth of commercial property in Europe in the first 9 months of 2015. A large portion of the total hails from North America, Asia and the Middle East.
