Black Creek Group Closes Record-Breaking Year

Denver-based Black Creek Group has closed a record-breaking year. In 2019, the firm raised $2.3 billion in capital, a 150% increase compared to 2018, and developed $2 billion in real estate.

“Executing against a strategic plan that was put into place a few years ago—one focused on local teams backed by national resources and institutional processes—we experienced great success in 2019, especially in raising and deploying capital,” Raj Dhanda, CEO at Black Creek Group, tells GlobeSt.com. “Having a strong team in place, we continued our long-standing track record of creating value for our investors. In particular, it was through our deep relationships that we were able to execute record capital deployment, leading to the acquisition of 13.4 million square feet of industrial and multifamily properties—three times more than what we did in 2018.”

In 2019, fundraising targeted institutional investors. Of the $2.3 billion in capital raised, $1.6 billion came from institutional investors with $700 million coming from private investors. In its development strategy, the firm focused on multifamily and industrial assets and leveraged local teams. “We started the year with the goal of expanding our industrial and multifamily holdings, and we were able to accomplish it through our local market teams and long-standing relationships,” Dhanda says. “We have found that by being close to our real estate, we are able to find deals that others may not and have a deeper understanding of each market’s nuances making us a better investor, owner and operator.”