BlackRock’s fund took out the loan of about 780 million yuan ($144.36 million) for two towers it bought in 2018 at Waterfront Place in China’s financial hub, the people added.
A BlackRock fund forfeited a Shanghai office complex to Standard Chartered after it didn’t make a loan payment for the property, according to people familiar with the matter.
A fund unit of the New York-based asset manager opted not to make a payment for a syndicated loan led by Standard Chartered due at the end of September, said the people, who asked not to be identified because the information is private.
