Black Creek Group, LLC (Black Creek Group) founded by John Blumberg, Evan Zucker and Jim Mulvihill.
American Real Estate Investment Corporation launched. Raised $93 million of equity capital and acquired 21 properties, including in connection with strategic transactions in 1997, culminating in creation of Keystone Property Trust, which later sold to industrial REIT Prologis (NYSE: PLD) in 2004.1
1 Involvement by Black Creek Group and its founders ended in 1999 prior to sale to Prologis.
Corporate Properties of the Americas launched. Raised $490 million of equity capital and acquired 94 properties. Liquidity event in 2005: Sold to an institutional investor.
DCT Industrial Trust Inc. (DCT) launched. Raised more than $2 billion in equity capital from retail investors and acquired 388 properties. Liquidity event in 2006: Listed on the NYSE after an institutional IPO (NYSE: DCT).
Dividend Capital Exchange (DCX), a complete real estate exchange solution created. This tax-deferred program, under IRC Section 1031 and 721, allows real estate owners to exchange appreciated investment property for shares in high-quality commercial real estate.
Dividend Capital Total Realty Trust (TRT) launched as a non-traded real estate investment trust (REIT). Raised $1.8 billion in equity capital from retail investors and acquired 111 properties. In 2012, TRT restructured to become Black Creek Diversified Property Fund.
Industrial Income Trust Inc. (IIT) launched. Raised more than $2.2 billion of equity capital from retail investors and acquired 296 properties. Liquidity event in 2015: Merged into an affiliate of Global Logistic Properties.
North American Industrial Fund launched with a focus on value-add investments across a range of real estate sectors. Raised $300 million of equity capital and acquired and developed 37 buildings. Liquidity event in 2013: LP-owned portion of the portfolio sold to IIT for $547 million.
Black Creek Group opened regional offices in Newport Beach, CA and Rutherford, NJ, capitalizing on local market acquisition, development and operational expertise and relationships.
Black Creek Diversified Property Fund Inc. (DPF) launched as one of the first perpetual-life net asset value (NAV) REITs available to retail investors, owning and operating high-quality commercial real estate across multiple property types.
Black Creek Group opened office in Dallas, TX.
Industrial Property Trust Inc. (IPT) launched, a REIT that acquires and operates high-quality distribution warehouses. Raised $1.8 billion of equity capital from retail investors. Closed to new investors in 2017.
Build-to-Core Industrial Partnership I LLC (BTC I) created as a joint venture with an institutional partner. $490 million of capital committed to develop more than 60 properties.
1 As of September 30, 2019. $20.1B in historic development and acquisition volume represents the total cost of real estate projects and loans secured by real estate acquired and/or developed by Black Creek Group, its affiliates and its direct and indirect owners, including James Mulvihill and Evan Zucker, from inception through September 30, 2019.
Investing in real estate assets entails certain risks, including changes in: the economy, supply and demand, laws, tenant turnover, interest rates (including periods of high interest rates), availability of mortgage funds, operating expenses and cost of insurance. Real estate investments offer limited liquidity options for investors. There is no guarantee of any return on investment and stockholders may lose the amount they invest. Real estate investment trusts (REITs) are not suitable for all investors. Past performance does not guarantee of future results.