BlackRock Buys Real Estate Firm

616726_handshakeBlackRock has reached an agreement to acquire MGPA, an independently managed private equity real estate investment advisory company in Asia-Pacific and Europe.

Financial terms of the deal were not disclosed.

“Today’s agreement advances BlackRock’s growth strategy in Asia-Pacific and Europe, where we are seeking to enhance our local offerings and build on the firm’s real estate experience,” said Jack Chandler, global head of real estate for BlackRock.

MGPA is focused on real estate funds management, co-investments and separate account mandates for institutional investors.

The transaction is expected to close in the third quarter of 2013, subject to customary regulatory approvals and closing conditions.