Black Creek Industrial REIT IV Inc., a publicly registered non-traded real estate investment trust managed by Ares Management Corporation (NYSE: ARES), has changed its name to Ares Industrial Real Estate Income Trust Inc.
The REIT also re-designated its Class W shares as Class D shares, thus, its offering now consists of Class T, Class D (formerly Class W) and Class I shares.
In July 2021, Ares Management Corporation, a global alternative investment manager, completed its acquisition of Black Creek Group’s U.S. real estate investment advisory and distribution business, which had $11.6 billion of assets under management.
As reported in early December, Black Creek Diversified Property Fund, another non-traded REIT managed by Ares, changed its name to Ares Real Estate Income Trust.
Black Creek Industrial REIT IV launched its initial public offering in July 2017 and has raised more than $2.7 billion in multiple offerings. The REIT’s follow-on offering was declared effective in August 2021 and has raised approximately $384.9 million, as of December 31, 2021.
As of December 31, 2021, the REIT’s $5.7 billion real estate portfolio included 193 industrial buildings totaling approximately 37.6 million square feet.
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