At Black Creek, we invest in real estate from the ground up, building by building. ItÍs how we manage every aspect of every transaction and create value for investors through all market cycles. For more than 25 years, Black CreekÍs investment professionals have developed, acquired, operated, financed and sold commercial and residential real estate in the United States and Mexico through our wide range of investments, all of which capitalize on our experience as real estate developers. The strengths that make Black Creek unique also set us apart from the competition. We intentionally avoid the capital allocator model and the extensive distance it puts between investors and their investments. Instead, we take a rigorous, hands-on approach that requires proximity to our real estate investments to the benefit of our investors. Since the early 1990s, we have executed more than $18 billion of real estate transactions through hundreds of separate closings. The reason for this success? Our competitive advantages drive innovative solutions for our investors. We own properties in dozens of key markets which we access from our nine offices in the U.S. and Mexico. Our strategically located offices put us close to our investments, facilitates developing strong relationships with local real estate partners and informs our market intelligence. Each property type is run as an autonomous business unit and managed by a real estate industry veteran. By combining acquisition and disposition functions along with asset management, our vertically integrated approach ties underwriting, financing, property management and strategic decisions together, which we believe leads to better results.