Black Creek Group acquires 5.7 million sq ft and leases 3.6 million sq ft in H1 2020

Black Creek Group, a Denver-based real estate investment management firm, entered 2020 with strong fundamentals and has continued to execute across all business fronts during the first six months of the year.

Industrial Property Trust Inc. (IPT), a Black Creek sponsored investment fund, completed the sale of its wholly-owned real estate assets to Prologis, Inc. (NYSE: PLD) in a deal valued at approximately USD4 billion

USD1.1 billion of capital raised, with USD935 million from individual and high net worth investors and USD180 million coming from institutional investors

A total of 5.7 million square feet acquired, increasing the firm’s holdings to 46.8 million square feet, with the largest transactions being:

• 691,000 square foot industrial facility in Indianapolis
• 671,000 square foot industrial facility in Las Vegas
• A two-building industrial property in Dallas, totalling 618,000 square feet
• 3.6 million square feet of leasing across industrial, office and retail sectors increasing the firm’s total operating portfolio to 95.3 percent leased
• 6.0 million square feet of industrial properties under construction

“What the firm has accomplished while adapting to the ongoing pandemic and evolving market conditions speaks to the strength and creativity of our team and the overall resiliency of the commercial real estate asset class,” says Raj Dhanda, Black Creek Group’s chief executive officer. “While not immune to the challenges the industry is facing, the firm is heading into the second half of the year with a clear focus on well located industrial, multifamily, office and retail real estate that is positioned for long-term growth and can weather all market cycles.”