BlackRock Considers Sale Of $504M Aussie Property Trust

Law360, New York (February 21, 2012, 7:46 PM EST) -- Money management giant BlackRock Inc. said on Tuesday that it is considering selling off one of its Australian property trusts, worth about 468 million Australian dollars ($504 million), for failing to meet industry benchmarks over the last three years.

The BlackRock Property Trust, which has been nonliquid since July 2009, may be recapitalized, restructured or even have its entire portfolio sold off in an attempt to restore liquidity to unit holders, a BlackRock spokeswoman told Law360 via email on Tuesday.

According to the Australia's Corporations Act,...
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