Offering Overview

Why Invest in Black Creek Diversified Property Fund (DPF)?

Existing Portfolio

  • $2.3 billion portfolio1 of high-quality real estate assets

Disciplined Portfolio Construction Process

  • DPF can invest accross the property spectrum, including office, retail, industrial and multi-family in a single investment vehicle

Access to Institutional-Quality Assets

  • DPF provides individual investors the opportunity to invest in institutional-quality commercial real estate assets

Investor-Aligned Structure

  • DPF’s advisor is compensated through management fees and a performance participating allocation based on total return. DPF’s advisor is not compensated through acquisition, disposition, financing or development fees

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Investor-Aligned Structure2

Fund Type

  • Perpetual life, non exchange traded real estate investment trust (REIT)

Offering Price3

  • Generally, equal to most recently published net asset value (NAV) per share for each share class, plus applicable selling commissions and dealer manager fees
  • NAV published within 15 days of month end, and available on blackcreekdiversified.com and in prospectus supplements

Subscription / NAV Frequency

  • Subscription agreements accepted throughout the month
  • Purchases effective as of the first calendar day of each month (subscription requests must be received at least five business days prior to the first calendar day of the month)

Distributions4

  • Monthly

Distribution Reinvestment Plan5

  • Monthly-Automatic

Minimum Initial Investment6

  • $2,500
  • $1,000,000 for Class I (unless waived)

Suitability Standards6

  • Either (1) a net worth of at least $250,000 or (2) a gross annual income of at least $70,000 and a net worth of at least $70,000
  • Certain states have additional suitability standards. See the prospectus for more information

Redemption Program

  • Monthly redemptions will be made at the transaction price, which is generally equal to prior month’s NAV
  • Shares not held for at least one year will be redeemed at 95% of that month’s transaction price
  • Overall limit on net redemptions of 5% of aggregate NAV per calendar quarter
  • Redemption requests must be received in good order by the second to last business day of the applicable month
  • DPF is not obligated to redeem any shares and may choose to redeem only some, or even none, of the shares that have been requested to be redeemed in any particular month in its discretion
  • The redemption program is subject to other limitations and DPF’s board may modify, suspend or terminate the plan

Tax Reporting

  • Form 1099-DIV
Share-Class Specific Fees
Class T7 Class S7 Class D Class I
Availability Through transactional / brokerage accounts Through fee-based (wrap) programs, registered investment advisors and other institutional and fiduciary accounts
Up-front Selling Commission Up to 3.00% Up to 3.5% None None
Up-front Dealer Manager Fee Up to 0.50% None None None
Annual Distribution Fee (trailing compensation) 0.85% 0.85% 0.25% None
Advisor Fees
Management Fee 1.10% per annum of NAV, payable monthly
Performance Participation Allocation 12.5% of the annual total return, subject to a 5% hurdle amount and a high-water mark

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1 As of June 30, 2017.
2 Terms summarized are for informational purposes and qualified in their entirety by the more detailed information set forth in the DPF prospectus.
3 DPF may offer shares at a price that it believes reflects the NAV per share of such stock more appropriately than the prior month’s NAV per share, including by updating a previously disclosed offering price, in cases where it believes there has been a material change (positive or negative) to DPF’s NAV per share since the end of the prior month.
4 The amount of distributions DPF may make is uncertain, is not guaranteed, may be modified at the program’s discretion, and is subject to board approval. DPF may pay distributions from sources other than cash flow from operations including, without limitation, the sale of assets, borrowings or offering proceeds (including the return of principal amounts invested). The use of these sources for distributions would decrease the amount of cash DPF has available for new investments, repayment of debt, share redemptions and other corporate purposes, and could potentially reduce your overall return and dilute the value of your investment in shares of DPF common stock. Because borrowed funds were used to pay distributions, the distribution rate may not be sustainable. Prior to 2012, DPF’s distributions have historically exceeded its cash flow from operations. However, for each year from 2012 through 2015 and for the quarters ended June 30, 2016, September 30, 2016, December 31, 2016, March 31, 2017 and June 30, 2017, distributions were funded solely from cash flow from operations. The distributions for the three months ended March 31, 2016 were funded 95.3% from cash flow from operations and 4.7% from other sources.
5 Stockholders will automatically become a participant in DPF’s distribution reinvestment plan unless the stockholder is a resident of a state that prohibits automatic enrollment, is a client of a participating broker dealer that does not permit automatic enrollment in the distribution reinvestment plan, or the stockholder elects not to become a participant by noting such election on their subscription agreement. If a stockholder is a resident of a state prohibiting automatic enrollment, or a client of a participating broker dealer that does not permit automatic enrollment in the distribution reinvestment plan, the stockholder may choose to enroll as a participant in DPF’s distribution reinvestment plan. As a participant, the cash distributions attributable to the class of shares that the stockholder owns will automatically be reinvested in additional shares of the same class. The cash distributions the stockholder receives will be reinvested in shares of DPF’s common stock at the transaction price in effect on the distribution date. However, DPF’s board of directors may determine, in its sole discretion, to have any distributions paid in cash without notice to participants, without suspending the plan and without affecting the future operation of the plan with respect to participants. DPF’s board of directors may amend, suspend or terminate the distribution reinvestment plan in its discretion at any time upon 10 days’ notice to stockholders. DPF may provide notice by including such information (a) in a Current Report on Form 8-K or in its annual or quarterly reports, all publicly filed with the Commission or (b) in a separate mailing to the participants. Following any termination of the distribution reinvestment plan, all subsequent distributions to stockholders would be made in cash. Investors in the distribution reinvestment plan will experience immediate dilution of the net tangible book value of their shares.
6 Select broker / dealers may have different suitability standards, may not offer all share classes, and / or may offer DPF at a higher minimum initial investment.
7 With respect to Class T / S shares, the amount of upfront selling commissions and dealer manager fees may vary at select broker-dealers, provided that the sum will not exceed 3.5% of the transaction price.

 

You Must First Receive a Copy of the Prospectus

This website is neither an offer to sell nor a solicitation of an offer to buy the securities described in the Black Creek Diversified Property Fund (DPF) prospectus. This website must be preceded or accompanied by a prospectus, which should be read in order to fully understand all of the implications and risks associated with an offering. A copy of the DPF prospectus has been made available to you via the links below. Neither the Attorney General of the State of New York nor any other state regulators have passed on or endorsed the merits of this offering. Any representation to the contrary is unlawful.

Please acknowledge that you have received a copy of the DPF prospectus prior to entering our website. If you have not yet received a copy, please use the following link to access a copy of the DPF prospectus:

Black Creek Diversified Property Fund Prospectus