Black Creek Group, a real estate investment management firm and sponsor of non-traded direct investment programs, has appointed Raj Dhanda as its first chief executive officer.
The company said that the creation of the CEO role and promotion of Dhanda, who was previously president of Black Creek Group, reflects its goals to develop new products and investment vehicles, and coordinate the investment process and multichannel product distribution.
“Over the last two-and-a-half decades, we’ve refined a deliberate and repeatable investment process while still fostering a nimble, entrepreneurial operating culture,” said Black Creek Group co-founder Jimmy Mulvihill. “With his significant executive experience at a leading investment bank and deep understanding of key distribution channels, we know Raj is the right person to tie it all together into a world-class commercial real estate firm.”
Dhanda is a 26-year veteran of Morgan Stanley who most recently serves as head of investment products and services in the firm’s wealth management division before joining Black Creek Group in late 2016.
Dhanda said that he expects Black Creek Group to continue creating and managing institutional-quality commercial real estate investment products but would like to expand their accessibility to individual investors via intermediary channels while continuing to serve the firm’s institutional clients.
Black Creek Group currently sponsors a number of investment programs including two non-traded REITs (the Black Creek Diversified Property Fund and Black Creek Industrial REIT IV) and a 1031 exchange program (Black Creek Exchange). Black Creek Group has approximately $7.9 billion in assets under management across the spectrum of commercial real estate – including office, industrial, retail and multifamily.