Black Creek Group Reports $1.5 Billion Equity Raise in 2020
Black Creek Group, a real estate investment management firm and sponsor of non-traded real estate investment trusts, has reported its 2020 activity highlights.
Black Creek Group, a real estate investment management firm and sponsor of non-traded real estate investment trusts, has reported its 2020 activity highlights.
The Denver-based firm acquired $1.5 billion of new investments across the U.S. and raised $1.5 billion in capital, with $1.3 billion coming from individual and high net worth investors and $200 million from institutional investors.
“Coming off a record-breaking year in 2019, we were well-positioned for the unprecedented operating conditions that 2020 brought,” said Raj Dhanda, Black Creek Group’s chief executive officer. “In a year of market turmoil and economic uncertainty, our teams remained focused on sourcing new investments and executing on our business plan. Ultimately, 2020 reaffirmed the resilience of our team as well as the durability of the real estate we invest in and I look forward to a strong 2021.”
2020 highlights include:
- Acquired 9.9 million square feet primarily in the industrial and multifamily space
- Purchased 367 acres, with plans for future development of 4.8 million square feet of industrial space
- Developed 3.8 million square feet of industrial space
- Executed 9.8 million square feet of leasing across industrial, office and retail sectors bringing the firm’s holdings to 95.5 percent leased
Black Creek Group has bought or built more than $22 billion of investments throughout its 25-year history. The firm manages investment offerings across the spectrum of commercial real estate – including industrial, multifamily, office and retail. As of December 31, 2020, the firm had a national footprint of 70.6 million square feet across 31 markets.
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