Ares Management’s Black Creek Industrial REIT IV Adds 8.3 Million Square Feet of Industrial Assets
14 Luglio 2021 - 11:21PM
Ares Management Corporation (NYSE: ARES) (“Ares”) today announced
that its managed fund, Black Creek Industrial REIT IV (“BCIIV”),
has closed on the acquisition of 48 industrial properties totaling
8.3 million square feet. The properties were purchased from
affiliates of Prologis, Inc. (NYSE: PLD) for approximately $920
million.
“This transaction demonstrates our continued commitment to the
industrial sector, which is one of the strongest in commercial real
estate backed by growing investor interest,” said Raj Dhanda,
Partner and Global Chief Operating Officer of the Ares Real Estate
Group. “The addition of these properties not only further
diversifies our holdings, but they are located in markets that are
essential in linking national and regional supply chains, which is
critical as we continue to see e-commerce demand increase.”
The transaction consisted of:
- 48 properties located across 13 U.S. markets
- 8.3 million square feet of Class A and B industrial holdings
that are currently 96.4% occupied
On July 1, 2021, a subsidiary of Ares assumed the management of
BCIIV as part of an agreement to acquire Black Creek Group’s U.S.
real estate investment advisory and distribution business.
“Our acquisition of Black Creek Group was highly attractive for
many reasons, including its ability to source and execute large
scale transactions in the highly attractive industrial sector,”
said David Roth, Partner and Head of U.S. Real Estate Private
Equity in the Ares Real Estate Group. “Black Creek’s industrial
track-record has made them a trusted buyer, owner and operator in
the sector, particularly in core / core-plus strategies, and we
look forward to continuing to expand Ares’ capability within one of
the most attractive verticals of commercial real estate.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of March 31, 2021, including the acquisition of Landmark
Partners, which closed June 2, 2021, and the acquisition of Black
Creek Group, which closed July 1, 2021, Ares Management's global
platform had approximately $239 billion of assets under management
with approximately 2,000 employees operating across North America,
Europe, Asia Pacific and the Middle East. For more information,
please visit www.aresmgmt.com. Follow Ares on Twitter
@Ares_Management.
About Black Creek Group
The U.S. real estate investment advisory and distribution
business of Black Creek Group, a leading real estate investment
management firm, was acquired by a subsidiary of Ares Management
Corporation on July 1, 2021. The firm has invested in institutional
quality commercial real estate across the U.S., managing diverse
offerings across the industrial, multifamily, office and retail
sectors and providing a range of investment solutions for both
institutional and wealth management channels. Over its more than
25-year history, Black Creek Group had bought or built over $23
billion of investments. As of March 31, 2021, the firm had a
national footprint of 75.8 million square feet across 31 U.S.
markets, including properties under control and development. For
more information, please visit www.blackcreekgroup.com.
Contacts:
Ares Management Corporation
Media:U.S. and InternationalBrunswick GroupJonathan Doorley /
Alex Yankus212-333-3810ares@brunswickgroup.comorAres
ManagementBrittany Cash,
212-301-0347bcash@aresmgmt.com
Investors:Ares Management CorporationCarl Drake,
888-818-5298cdrake@aresmgmt.comorGreg Mason,
314-282-2533gmason@aresmgmt.com
Black Creek Group
Briana Ochiltree,
720-728-3109briana.ochiltree@blackcreekgroup.com
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