Black Creek Industrial REIT IV’s Remarkable Increase in NAV
October 19, 2021 | James Sprow | Blue Vault
On October 15, Black Creek Industrial REIT IV announced a revised NAV per share of $11.5332 for all share classes as of September 30, 2021. This marked an increase of 5.48% over the NAV as of August 31, 2021, of $10.9342. The NAV announced as of June 30, 2021, was $10.5692, and the NAV as of December 31, 2020, was $10.1437. Therefore, the rate of increase in the NAV YTD through September 30, 2021, was an impressive 13.7%.
Black Creek Industrial REIT IV owned 118 properties as of June 30, 2021, that were 97.3% occupied. All of the properties were classified as industrial. Among the REIT’s top tenants were eBay Enterprise with 7.6% of all rental revenues and 9.7% of area leased, Steelcase Inc. with 4.9% of rental revenues, and The Kroger Co. with 4.0% of rental revenues.
The REIT has made three acquisitions since June 30, 2021, including a Prologis portfolio of 48 buildings acquired on July 14, 2021, consisting of 8,300,000 square feet, for $920 million, that was 96.4% occupied.
Sources: SEC, S&P Market Intelligence
