BASF suspended the sale of a major residential housing portfolio on Thursday. The chemical giant halted the divestment of 3,300 units owned by subsidiary BASF Wohnen + Bauen GmbH.
Management cited shifting interest rates and high market volatility as primary reasons for the decision. BASF concluded that current offers failed to meet the company's valuation targets.
The company will proceed with the sale of 1,100 individual condominiums. This remains part of an original plan to divest 4,400 total units.