Black Creek Industrial REIT IV adds 8.3msf of industrial assets for $920m

Black Creek Industrial REIT IV has closed on the acquisition of 48 industrial properties totaling 8.3 million square feet. The properties were purchased from affiliates of Prologis for approximately $920 million.

“This transaction demonstrates our continued commitment to the industrial sector, which is one of the strongest in commercial real estate backed by growing investor interest,” said Raj Dhanda, partner and global COO of the Ares Real Estate Group. “The addition of these properties not only further diversifies our holdings, but they are located in markets that are essential in linking national and regional supply chains, which is critical as we continue to see e-commerce demand increase.”

The transaction consisted of 48 properties located across 13 U.S. markets, totaling 8.3 million square feet spanning class A and B industrial holdings. The properties are currently 96.4 percent occupied.

On July 1, a subsidiary of Ares assumed the management of B