Ares Management Corp.'s Black Creek Industrial REIT IV has acquired 48 industrial properties from affiliates of Prologis for approximately $920 million.
The 48 properties, which are located across 13 US markets, include 8.3 million square feet of Class A and B industrial holdings that are currently 96.4% occupied.
"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 said in a prepared statement. "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."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
