Black Creek Diversified Property Fund Inc., a publicly registered NAV-based perpetual life real estate investment trust managed by Ares Management Corporation (NYSE: ARES), has updated its net asset value per share for its Class T, Class S, Class D, Class I, and Class E shares of common stock, as of October 31, 2021.
As of October 31, 2021, all share classes were valued at nearly $7.93, compared to approximately $7.83 last month.
The NAV per share is based on the estimated value of the company’s assets, less the estimated value of its liabilities divided by the number of outstanding shares. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
Total investments in real estate properties increased from $2.88 billion in September to $3.04 billion in October. Debt related investments hovered around $47.9 million, while DST program loans increased slightly from $58.3 million in September to $58.9 million.
Cash and cash equivalents decreased from $12.5 million in September to $10.3 million in October. Restricted cash increased from $10.5 million to $14 million, and other assets decreased slightly from $32.4 million to $32.1 million.
Line of credit, term loans and mortgage notes increased from ($921.3 million) in September to ($1.02 billion) in October. Financing obligations associated with its DST program increased from ($629.7 million) to ($651.3 million) month-over-month, and other liabilities decreased slightly from ($56.7 million) to ($56.3 million).
As of October 31, 2021, Black Creek Diversified Property Fund owned a portfolio of 63 real estate properties totaling approximately 12.8 million square feet that were 94.8 percent leased.
The REIT launched in January 2006 and has raised more than $2.73 billion in multiple offerings. In its current offering, it has raised approximately $566.7 million from the sale of approximately 74.7 million shares, including proceeds from the distribution reinvestment plan of approximately $42.5 million, as of November 1, 2021.