X0306 4 2020-01-01 0 0001327978 Black Creek Diversified Property Fund Inc. NONE 0001046633 MULVIHILL JAMES R 518 17TH STREET, SUITE 1700 DENVER CO 80202 1 0 0 0 Class I Operating Partnership Units 2020-01-01 4 J 0 167964.022 0 A Class I Common Stock 167964.022 167964.022 I See footnote See Remarks. On 1/1/2020, a total of 503,892.066 Units were issued to the Sponsor. Of those 503,892.066 Units, the Reporting Person's proportionate interest was 167,964.022 Units. All of these Units reported in column 9 of Table II were subsequently transferred by the Sponsor to a limited liability company owned indirectly by the Reporting Person via a pro rata distribution by the Sponsor to its members. (1) 503,892.066 Class I operating partnership units (the "Units") were issued to Black Creek Diversified Property Advisors Group LLC (the "Sponsor") in lieu of a $3.8 million cash payment of the performance component of the advisory fee that was payable to the Sponsor by Black Creek Diversified Property Operating Partnership LP, a subsidiary of the Issuer (the "Partnership"). The NAV per Unit at the time of the issuance of the Units was $7.4937. The holder of the Units may cause the Partnership to redeem the Units for cash, unless the Issuer's board of directors determines that the redemption of the Units for cash would be prohibited by applicable law or the Issuer's charter, in which case the Units will be redeemed for shares of the Issuer's Class I common stock with an equivalent aggregate net asset value. Any such redemption of Units for shares of the Issuer's common stock is expected to be on a one-for-one basis. The Units reported above may be attributed to the Reporting Person based upon the fact that the Reporting Person is one of several individuals and/or their affiliates that directly or indirectly controls the Sponsor. The Reporting Person is reporting his proportionate interest in the Units issued to the Sponsor on 1/1/20, which is 167,964.022 Units. The Reporting Person disclaims beneficial ownership of the Units held by the Sponsor except to the extent of his pecuniary interest therein. /s/ Sarah Wadsworth, Attorney-in-Fact 2020-04-01