The New York-based asset manager BlackRock said it is planning to buy as much as €2.5bn European properties over the next three years, more than doubling its pace of investment as its clients seek to take advantage of a weak euro. A record number of European properties have been bought by investors from Asia, the Middle East and North America in recent months, with €32.5bn worth of deals closed by the end of September, up 53 percent from the previous year, according to news reports.
