Black Creek Exchange
17 Programs on record · filing history back to 2016 · 0 classified as raising now
Website not on recordSponsor-reported, from SEC filings and cited sources.
What the record shows
Black Creek Exchange was Black Creek Group's Delaware statutory trust platform, operated through Black Creek Exchange LLC. A 2018 SEC registration statement describes it as the exchange entity for a DST Program that placed interests in Delaware statutory trusts holding real properties intended to serve as Section 1031 replacement properties, using Section 506(b) private placements. Top1031 tracks 17 program entities with first filings from 2016 through 2021, beginning with DCX Springdale DST. Ares Management Corporation completed its acquisition of Black Creek Group's U.S. real estate investment advisory and distribution business, including this DST program, effective July 1, 2021, and the entity was later identified as Ares Diversified Real Estate Exchange LLC.
Sponsor-stated figures are as reported by the sponsor.Evidence 12345
The audit tracks 17 Programs, 13 of them lifecycle-eligible, over 10 yrs, with no documented material adverse events and no recorded floor. Among the lifecycle-eligible Programs, 7 have 721/UPREIT treatment corroborated in an acquiring REIT's SEC filing, 2 rest on sponsor or open-web evidence, 3 are seasoned with leverage unknown, and 1 was sold with the result unknown. The outcome-disclosure ledger shows 0 figures published, 3 acknowledged without a figure, and 7 silent, drawn from 14 citations at proof depth 5.
Raising money now
Classified active by Top1031 from the SEC filings. That does not confirm an offering is still available to buy.
No active offerings are on record for this sponsor.
How this Grade was computed
The four channels describe the documented public record. The published letter also applies evidence gates, ceilings, and adverse floors.
- Ceilings
- The result cannot exceed H + 10 or L + 15, so stronger sales evidence cannot wash out a weaker harm or lifecycle record.
- Evidence gates
- A and B require minimum proof depth, lifecycle history, and channel evidence. A also requires qualifying disclosure coverage.
- Adverse floors
- An Integrity alert sets an F floor. A dominant documented capital loss or multiple independent severe events sets D or lower.
- C2026-Q3 · Moved from C. Binding constraints: fewer than 10 lifecycle-eligible Programs; H below 85; T below 60.
Programs on the record
A Program is the filing-level offering record associated with this sponsor. Published-result figures are shown only with sponsor attribution and adjacent sources.
Show all 17 Programs
Who they are
Program architecture
A Black Creek Diversified Property Fund Inc. registration statement filed August 17, 2018 set out the trust-level architecture used by the DST Program: each trust's property was leased back to an indirect wholly owned subsidiary under a lease running up to 29 years, and the operating partnership held an option to acquire investors' DST interests at fair market value in exchange for OP Units. Interests were placed through Section 506(b) private placements 1.
Tracked program entities
Top1031's sponsor record lists 17 DST program entities associated with the platform, with first SEC filings spanning 2016 through 2021 — among them DCX Springdale DST (2016), BC Exchange Vasco DST (2017), BC Exchange Northgate DST and BC Exchange Yale Village DST (2018), BC Exchange Salt Pond DST and BC Exchange Suniland DST (2019), BC Exchange Perimeter DST and BC Exchange City View DST (2020), and BC Exchange Reno Logistics Center DST and BC Industrial Exchange Portfolio III DST (2021) 2.
Yale Village outcome
Fairstead announced on June 28, 2024 that it had acquired Yale Village Apartments, a 250-unit affordable-housing property in Houston 3. Top1031 identifies that acquisition as the full-cycle event for BC Exchange Yale Village DST, a program whose first SEC filing dates to 2018 2.
Ares acquisition and renaming
Ares Management Corporation completed its acquisition of Black Creek Group's U.S. real estate investment advisory and distribution business, including the Black Creek Exchange DST program, effective July 1, 2021 4. An Ares Real Estate Income Trust Inc. annual report dated March 6, 2025 identifies Ares Diversified Real Estate Exchange LLC as formerly Black Creek Exchange LLC 5.
Show sources (5)Hide sources (5)
- sec.gov ↗Public record
- Top1031 sponsor record ↗Top1031-derived
- fairstead.com ↗Sponsor disclosure
- sec.gov ↗Public record
- sec.gov ↗Public record