Black Creek Industrial REIT IV / AIREIT Update (2026)
Black Creek Industrial REIT IV, the non-traded industrial REIT this page originally covered, no longer exists under that name. Following Ares Management’s acquisition of Black Creek Group, the REIT was renamed Ares Industrial Real Estate Income Trust (AIREIT). As of May 31, 2026, AIREIT reported an aggregate net asset value of $5.091 billion and a NAV per fund interest of $13.2898 — up from $13.2483 at the end of April, according to industry trade press citing the company’s own disclosures. That is well above the fund’s original $10.00 offering price. Investors who purchased shares as Black Creek Industrial REIT IV and want to understand what this history means for a potential claim can speak with a FINRA arbitration attorney about their options.
2026 Update: Ares Industrial REIT’s Current Performance
AIREIT’s portfolio, as of May 31, 2026, consisted of approximately 276 industrial buildings totaling roughly 58.4 million square feet across 31 U.S. markets, with occupancy of about 89.4 percent and a leverage ratio of approximately 45.1 percent. The fund authorized a monthly gross distribution of $0.0525 per share for May 2026, and reportedly satisfied all investor redemption requests in full for both April and May, totaling roughly $54.1 million paid out over the two months. Under AIREIT’s redemption program, monthly repurchases are generally capped at 2 percent of aggregate NAV and 5 percent per calendar quarter, with shares held less than one year redeemed at 95 percent of NAV.
These figures come from trade press coverage of the fund’s own disclosures rather than a direct White Law Group review of AIREIT’s SEC filings, and investors should confirm current NAV, distribution, and redemption terms directly with Ares or their financial advisor. Investors should also note that AIREIT’s steadier performance in 2026 stands in contrast to broader distress among some non-traded REIT peers, several of which have suspended redemptions or cut distributions this year.
Background: Black Creek Industrial REIT IV’s NAV Reduction
Black Creek Industrial REIT IV Inc. was an externally managed, non-traded REIT that acquired and operated distribution warehouses and other industrial properties. In 2020, the REIT reported a lower monthly net asset value for its Class T, Class W, and Class I common stock, with shares valued at $10.0597 as of May 31, 2020, down from $10.0629 in April, against an original offering price of $10.00 per share. The company cited pandemic-related disruption to the broader economy as a factor increasing investment risk across many asset classes, including real estate.
The White Law Group’s investigation into Black Creek Industrial REIT IV centered on whether FINRA-registered broker-dealers adequately disclosed the risks of this illiquid, high-fee, non-traded product, and whether it was suitable for the specific retail investors who purchased it, independent of how the fund has since performed under new ownership.
Why a Recovery in Value Doesn’t Resolve a Suitability Claim
A non-traded REIT’s later NAV recovery, or a subsequent sponsor’s operational improvements, does not retroactively establish that the original investment was suitable when it was recommended. Suitability is assessed based on what an investor was told at the time of purchase, and whether the recommending broker-dealer performed adequate due diligence given that investor’s age, risk tolerance, net worth, and investment objectives. Investors who were not adequately informed about the illiquidity, fees, or risk profile of Black Creek Industrial REIT IV at the time of purchase may still have grounds for a claim, even if the investment (now AIREIT) has since recovered in value.
Recovering Losses Through FINRA Arbitration
Broker-dealers are required to perform reasonable due diligence on any non-traded REIT they recommend and to ensure the investment is suitable for each investor. Most disputes over unsuitable recommendations are resolved through FINRA arbitration, a process that typically takes 12 to 18 months. If you purchased Black Creek Industrial REIT IV and are unsure whether you have a claim, contact a FINRA arbitration attorney to review your account.
Frequently Asked Questions
Is Black Creek Industrial REIT IV still available for purchase?
No. The fund is now operated as Ares Industrial Real Estate Income Trust (AIREIT) following Ares Management’s acquisition of Black Creek Group. Investors who purchased shares under the Black Creek name still hold an economic interest in the same underlying fund, now under new management and branding.
If AIREIT’s NAV has recovered, can I still bring a claim over my original Black Creek investment?
Potentially. A claim over an unsuitable recommendation or inadequate risk disclosure is based on what happened at the time of your original purchase, not on how the investment has performed since. Current NAV gains do not erase potential liability for a broker-dealer’s conduct at the time of sale.
How do I find out if my broker properly disclosed the risks of this investment?
Reviewing the prospectus, subscription agreement, and any risk disclosures you received at the time of purchase, alongside your account statements, can help establish what you were told. An attorney experienced in FINRA arbitration can review these documents with you.
Contact The White Law Group
The White Law Group is a national securities fraud law firm representing investors in claims against brokerage firms and financial advisors, with offices in Chicago and Seattle. If you invested in Black Creek Industrial REIT IV or Ares Industrial Real Estate Income Trust and have questions about your account, contact The White Law Group for a free consultation at (888) 637-5510.
