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BlackRock Unveils RE Exchange-Traded Fund
Investment manager BlackRock yesterday debuted an exchange-traded fund that will buy a combination of government debt and publicly traded American real estate entities. The new ETF aims to capitalize on the growing appetite for property investments as safe harbors benefitting from low interest rates. Blackrock execs said they hope the fund will grow to roughly $750M in the next couple of years.
BlackRock is the world's largest asset manager, with a reported $4.59T in assets. And its iShares platform is the world's biggest provider of ETFs. The new fund comes at a time of stratospheric investor interest in real estate investment trusts like SL Green, which last month raised its yearly dividend by 20%.
