J.P. Morgan and Black Creek Group Announce $400 Million Industrial Real Estate Partnership
DENVER – Black Creek Group, a Denver-based real estate investment manager with a history of $18.5 billion in development and acquisitions, announced today that institutional investors advised by J.P. Morgan Asset Management (J.P. Morgan) have committed to invest $400 million of equity into programs focused on industrial real estate.
“We are thrilled to partner with J.P. Morgan and that they have made such a substantial commitment to our industrial capabilities. We look forward to further strengthening our relationship with them as well as continuing to be a national leader in the acquisition, development and operation of industrial real estate,” said Raj Dhanda, CEO of Black Creek Group.
The programs span different investment strategies focused on core, value add and development. The commitment may grow over time and will take advantage of Black Creek’s extensive experience in developing industrial real estate in major U.S. distribution and logistics markets.
In the past five years, Black Creek Group has completed 10.5 million square feet of industrial development and currently has approximately 11 million square feet under development.
“Black Creek has an outstanding track record of uncovering great opportunities and building the industrial real estate that today’s tenants seek,” said Nick Firth, executive director of J.P. Morgan Asset Management. “We’re excited to partner with an outfit of Black Creek’s caliber and reputation on behalf of our clients.”