Black Creek Group, a Denver-based real estate investment manager and sponsor of non-traded direct investment offerings, announced that institutional investors advised by J.P. Morgan Asset Management have committed to invest $400 million of equity into programs focused on industrial real estate. The programs span different investment strategies focused on core, value add and development, and the equity commitment may grow over time, the company said.
“We are thrilled to partner with J.P. Morgan and that they have made such a substantial commitment to our industrial capabilities,” said Raj Dhanda, CEO of Black Creek Group. “We look forward to further strengthening our relationship with them as well as continuing to be a national leader in the acquisition, development and operation of industrial real estate.”
Black Creek Group manages investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily. The company’s investment programs include the Black Creek Diversified Property Fund, Black Creek Industrial REIT IV, and Industrial Property Trust.
Black Creek Group has bought or built more than $18.5 billion of investments during its 25-year history. Over the last five years, the company has completed 10.5 million square feet of industrial development and currently has approximately 11 million square feet under development.
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $130 billion in assets under management, the company offers strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds.