Black Creek Industrial REIT IV Inc., a publicly registered non-traded real estate investment trust, has agreed to purchase a portfolio of four industrial buildings located in Las Vegas for approximately $59.3 million.
The Las Vegas Light Industrial Portfolio totals approximately 369,000 square feet and sits on 24.3 acres of land. The property is 100 percent occupied by 24 customers with a weighted-average remaining lease term (based on square feet) of approximately three years.
The acquisition is expected to close during the second quarter of 2019.
Black Creek Industrial REIT IV’s initial public offering was declared effective by the SEC in July 2017. The company has raised approximately $362.8 million in investor equity in the private and public offerings, including DRIP proceeds, as of May 8, 2019. The company oversees a $356.9 million portfolio comprised of 17 industrial buildings totaling approximately 3.2 million square feet, as of March 31, 2019.