GlobeNewswire Inc | Jul 28, 2020 11:00AM EDT

July 28, 2020

Firm raises $1.1 billion of capital, acquires 5.7 million square feet and leases 3.6 million square feet during first half of 20201

DENVER, July 28, 2020 (GLOBE NEWSWIRE) -- Black Creek Group, a Denver-based real estate investment management firm with a more than 25-year history, today announced its activity highlights as of June 30, 2020. Despite the market uncertainty triggered by coronavirus, commercial real estate and the firm entered 2020 with strong fundamentals and continued to execute across all business fronts.

Mid-year highlights include:

-- Industrial Property Trust Inc. (IPT), a Black Creek sponsored investment fund, completed the sale of its wholly-owned real estate assets to Prologis, Inc. (NYSE: PLD) in a deal valued at approximately $4 billion -- $1.1 billion of capital raised, with $935 million from individual and high net worth investors and $180 million coming from institutional investors -- 5.7 million square feet acquired, increasing the firms holdings to 46.8 million square feet, with the largest transactions being: - 691,000 square foot industrial facility in Indianapolis - 671,000 square foot industrial facility in Las Vegas - Two-building industrial property in Dallas, totaling 618,000 square feet -- 3.6 million square feet of leasing across industrial, office and retail sectors increasing the firms total operating portfolio to 95.3 percent leased -- 6.0 million square feet of industrial properties under construction

What the firm has accomplished while adapting to the ongoing pandemic and evolving market conditions speaks to the strength and creativity of our team and the overall resiliency of the commercial real estate asset class, said Raj Dhanda, Black Creek Groups chief executive officer. While not immune to the challenges the industry is facing, the firm is heading into the second half of the year with a clear focus on well located industrial, multifamily, office and retail real estate that is positioned for long-term growth and can weather all market cycles.

1 Aggregate capital and activity from all real estate platforms in the United States sponsored by affiliates of Black Creek Group.

About Black Creek Group

Black Creek Group is a leading real estate investment management firm that has bought or built over $21 billion of investments throughout its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate including industrial, multifamily, office and retail providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has seven offices across the United States with approximately 300 professionals. More information is available at blackcreekgroup.com.

Contact: Briana Ochiltreebriana.ochiltree@blackcreekgroup.comBlack Creek Group720-728-3109