Black Creek Diversified Property Fund Announces NAV
February 17, 2021 | James Sprow | Blue Vault
Black Creek Diversified Property Fund announced the January 31, 2021 NAV per share for all classes of its common stock. The transaction price for each share of common stock as of March 1, 2021, will be $7.5611, which is equal to the NAV per share as of January 31, 2021.
The previous NAV per share as of December 31, 2020, was $7.5412.
As of February 1, 2021, the REIT had raised gross proceeds of approximately $376.9 million from the sale of approximately 50.2 million shares in its offering, including proceeds from the distribution reinvestment plan of approximately $30.2 million. As of February 1, 2021, approximately $2.62 billion in shares remained available for sale pursuant to the current offering, including approximately $469.8 million in shares available for sale through the distribution reinvestment plan.
As of January 31, 2021, the REIT had $2.6 billion in assets under management (calculated as fair value of total investment in real estate properties and debt-related investments, plus cash and cash equivalents). The REIT’s investments include 57 real estate properties totaling approximately 11.9 million square feet, which were 93.1% leased as of January 31, 2021.
As of January 31, 2021, the REIT’s leverage ratio was 35.8% (calculated as outstanding principal balance of borrowings less cash and cash equivalents, divided by the fair value of real property and debt-related investments not associated with the DST Program, as determined in accordance with its valuation procedures).
Real property valuations were provided by Altus Group U.S. Inc., the “Independent Valuation Advisor.” Generally, all real properties are appraised each calendar month by the Independent Valuation Advisor, with such appraisals reviewed by the REIT’s external advisor. Additionally, each real property is appraised by a third-party appraiser at least once per calendar year, as described in the REIT’s valuation procedures.
Source: SEC
