Black Creek unit to draw down on revolver for portfolio purchase

By Wendy Van Sickle

Columbus, Ohio, May 15 – Black Creek Industrial REIT IV Inc. subsidiary BCI IV Operating Partnership LP plans to borrow under its revolving line of credit to fund a portion of a portfolio of four industrial buildings in Las Vegas, according to an 8-K filing with the Securities and Exchange Commission.

The borrower entered into a purchase agreement on Monday to purchase the buildings totaling approximately 369,000 square feet on about 24.3 acres for about $59.25 million.

BCI IV also plans to use proceeds from a public offering for the purchase.

Black Creek Industrial is a subsidiary of Black Creek Diversified Property Fund Inc., a real estate investment trust that is based in Denver.

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