Denver-based Investment Development Firm Announces 2018 Highlights
DENVER — Black Creek Group, a Denver based real estate investment manager and development firm with a 25-year history, today announced its 2018 activity highlights.
“We are very pleased with the strong performance in 2018 as our team continues to deliver results across all fronts,” said Raj Dhanda, Black Creek Group’s chief executive officer. “Capitalizing on this momentum, we are already seeing 2019 begin on a positive note with activity remaining steady and real estate fundamentals continuing to be solid.”
During 2018 Black Creek Group raised $817 million of capital and acquired 4.6 million square feet of assets across the industrial, office and retail sectors. The firm also continued to expand its development program, completing 3.8 million square feet during 2018 and purchasing 347 acres to develop 4.7 million square feet.
The firm executed 11.4 million square feet of leasing across its industrial, office and retail assets bringing assets to 91.1 percent leased at year-end. As of December 31, 2018, the firm had a national footprint of 62.3 million square feet across 32 markets.
“Demand for space, especially in the industrial sector, remains strong being driven by a number of factors such as the continued shift to e-commerce, low unemployment rates and improved customer confidence,” said Dwight Merriman, Black Creek Group’s head of real estate. “With such a favorable environment going into 2019, we are prepared to continue to execute against our strategic plan as well as be open to new opportunities that may arise.”
Photo courtesy of Black Creek Group