LONDON--(BUSINESS WIRE)--
Ares Management, L.P. (NYSE:ARES) announced today that a fund managed by
its real estate group has acquired an approximately 300-unit,
24,000-square-meter residential and retail complex in the Frankfurt
Rhine-Main metropolitan region of Germany.
This acquisition is the latest addition to Ares’ substantial and growing
German residential real estate portfolio, which is now comprised of more
than 4,100 units across approximately 260,000 square meters.
“This property strengthens Ares’ residential portfolio in Germany, which
we have been amassing and repositioning for the past several years to
include attractive multifamily assets in metropolitan and suburban areas
across the country,” said John Ruane, Partner in the Ares Real Estate
Group. “Ares continues to believe that the market fundamentals in
Germany are strong for multifamily property, particularly in areas near
major city centers.”
Ares will continue to work with Forte, a Frankfurt-based real estate
asset manager that Ares partnered with to acquire and manage its
existing German residential investments, in order to add value through
refurbishment, repositioning and vacancy reduction across the expanded
portfolio.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative
asset manager with approximately $100 billion of assets under management
as of March 31, 2017 and more than 15 offices in the United States,
Europe and Asia. Since its inception in 1997, Ares has adhered to a
disciplined investment philosophy that focuses on delivering strong
risk-adjusted investment returns throughout market cycles. Ares believes
each of its three distinct but complementary investment groups in
Credit, Private Equity and Real Estate is a market leader based on
assets under management and investment performance. Ares was built upon
the fundamental principle that each group benefits from being part of
the greater whole. For more information, visit www.aresmgmt.com.
About Forte
Forte is a German housing company managing residential portfolios with
over 7,000 apartments from its six offices across Germany with
headquarters in Frankfurt and Berlin. Forte owns the portfolios together
with institutional investors and high net worth individuals. For more
information, visit www.fortecap.de.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170725006579/en/
For Ares Management:
Media:
Mendel Communications
Bill
Mendel, +1 212-397-1030
[email protected]
or
Investors:
Carl
Drake, +1 800-340-6597
[email protected]
or
Priscila
Roney, +1 212-808-1185
[email protected]
or
For
Forte:
Tom Zeller / Daniel Gabel
Managing Partner / Senior
Associate
Feldhoff & Cie. GmbH
Eschersheimer Landstraße 55
60322
Frankfurt am Main
T +49.69.2648.677-18
F +49.69.2648.677-20
M
+49.152.21.90.33.48
[email protected]
/ [email protected]
Source: Ares Management, L.P.
