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Black Creek Industrial REIT IV Completes $115 Million Acquisition

July 9, 2019

Black Creek Industrial REIT IV Completes $115 Million Acquisition

July 2, 2019 | Luke Schmidt | Blue Vault

On June 28, 2019, Black Creek Industrial REIT IV, Inc. (“BCIV”), a public non-traded REIT, purchased five industrial buildings for a total purchase price of $115.0 million.  BCIV funded the purchase using proceeds from their public offering and the assumption of two fixed-rate mortgage notes for an aggregate amount of $49.3 million.

The buildings contain a total of approximately 1.4 million rentable square feet located on approximately 71.1 acres in the Dallas market.  The buildings are currently 98.3% occupied by fifteen different tenants with a weighted-average remaining lease term of approximately 3.5 years.  Two tenants, Automotive Parts Distribution International and Cardone Industries, each lease approximately 0.4 million square feet, or approximately 28% of the portfolio’s rentable area.

As of March 31, 2019, BCIV owned 17 properties that contained approximately 3.2 million rentable square feet that were 99.3% occupied.  The weighted-average remaining lease term on these properties was 5.2 years.  Through the same date, BCIV had raised approximately $300.7 million in its public offering.

Black Creek Group was recently represented by Ryan Strauser, Senior Vice President of Product Management, on an educational webinar hosted by Blue Vault.  The webinar focused on finding value and opportunities in the commercial real estate marketplace.  Topics covered included the biggest benefits, advantages, risks, and opportunities present in the commercial real estate marketplace.

Sources:  SEC, Blue Vault

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.