Black Creek Group Acquires Two Multifamily Properties

DENVER, CO – Black Creek Group LLC has acquired two multifamily properties through its investment platform, Black Creek Diversified Property Fund.

The recently acquired properties include The Dave at Shady Grove Metro, a 333-unit property located in Rockville, MD, and Broadstone Winter Park, a 268-unit property located in Winter Park, FL. The properties were 95% leased and 85% leased respectively, at closing.

Black Creek Diversified Property Fund is a perpetual-life, non-traded NAV REIT that owns and operates commercial real estate assets across industrial, office, retail and multifamily sectors, offering investors accessibility through its platform. The fund currently holds 49 properties at 92% leased, totaling 8.2 million square feet.

This year the fund has had more than $450 million in acquisition and disposition activity, increasing its industrial holdings through four sales and two dispositions. Prior to its two previously mentioned acquisitions, the fund’s 2019 completed sales include a 263,000-square-foot office building in San Francisco, CA, a 155,000-square-foot office project in Austin, TX, a 245,000-square-foot asset in San Antonio, TX and a 218,000-square-foot asset in Greater Cincinnati, OH. The fund also disposed two retail outparcels in Raleigh, NC, earlier this year.

Black Creek Group LLC is a Denver-based, real estate investment management and development firm with more than 300 professionals spanning nine offices across North America. The firm has bought or built more than $19 billion in investments in its more than 25-year history.