Black Creek Industrial REIT IV Inc. filed for a best-efforts offering of up to $2.00 billion of its common shares.
The offering comprises up to $1.50 billion of shares under a primary offering and up to $500.0 million of shares under a distribution reinvestment plan. The shares will be offered in any combination of class T, W and I shares.
The real estate investment trust, which invests in distribution warehouses and other industrial properties, aims to use the bulk of the proceeds to acquire real property, debt and other investments. The REIT, externally managed by BCI IV Advisors LLC, owned and managed seven buildings aggregating 1.3 million square feet across four markets as of Sept. 30, 2018. Its portfolio was 98.6% leased as of that date.
Black Creek Capital Markets LLC is the dealer manager for the offering.