Real Estate Journal — Owners, Developers & Managers — July 26 - August 8, 2019 — 3B
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333-unit property in Rockville, MD and a 268-unit property in Winter Park, FL Black Creek Group expands footprint with acquisition of two multifamily properties R
active start to 2019, with over $450 million of acquisi- tion and disposition activity. Since the beginning of the year, it has increased its industrial holdings with the acquisition of a 245,000 s/f asset in San Antonio, TX and a 218,000 s/f asset in Greater Cincinnati. In addition to the sale of the office properties in San Francisco and Austin, the fund also disposed of two retail outparcels in Raleigh, NC. Currently, Black Creek Diversified Property Fund holds 49 properties totaling 8.2 million s/f and is currently 92% leased.
sectors,” said Greg Moran , Black Creek Diversified Prop- erty Fund’s Chief Investment Officer. “Focusing on value creation across market cycles, we understand that demand for property types will change which is why we are an active portfolio manager prepared to capitalize on opportunities as conditions change. Multifamily and industrial are two sectors that continue to exhibit strong demand and fundamentals so our expansion within those areas is likely to continue to be a priority.” Black Creek Diversified Property Fund has had an
Owners, Developers &Managers Doug Haines is owner/ CEO of Haines Security Solutions, LLC in Ventura, CA. OCKVILLE, MD & W I NTER PARK , FL — Black Creek Group , a Denver-based real estate investment manager and development firm an- nounced the acquisition of two multifamily properties through its investment plat- form, Black Creek Diversified Property Fund–a perpetual- life, non-traded monthly NAV REIT that owns and operates high-quality commercial real estate across the industrial, office, retail and multifamily sectors. The first property, The Dal- ey at Shady Grove Metro, is a 333-unit property in Rockville, MD that was 95% leased at the time of closing. The second property, Broadstone Winter Park, is a 268-unit property they use; stationary or mov- ing vehicle, different types of weapon usage, forced entry, etc. Each tactic uses a different set of tools. That said, each type of tool use has a countermeasure available to reduce its effective- ness. If we understand their mo- tives, tactics and tools, we can design countermeasures into inhabited space that reduces the possibility that they will occur and when that falls short reduces their effects. continued from page 2B Understanding your building . . .
The Daley at Shady Grove Metro
in Winter Park, FL that was 85% leased at the time of closing. The acquisition of the properties comes shortly after the firm completed the sale of 655Montgomery St., a 263,000 s/f office building in San Fran-
cisco, CA and Rialto, a 155,000 s/f office project in Austin, TX. “Black Creek Diversified Property Fund is committed to providing investors with ex- posure to institutional-quality assets that span the four major
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S ection P ublisher Steve Kelley skelley@marejournal.com S ection E ditor Karen Vachon editor@marejournal.com
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