LONDON--(BUSINESS WIRE)--
Ares Management, L.P.(NYSE:ARES) announced today that a fund managed by
its real estate group has acquired the DC380 logistics warehouse in
Harlow, England, from Commerz Real AG.
DC380 is a 389,444-square-foot distribution warehouse with office space
that is strategically located in an established industrial and trade
area of Harlow in the south east of England between London and Stansted
Airport. The property is currently leased to Industrial Tool Supplies
Limited, one of the UK’s largest independent suppliers of power tools,
and Wincanton, the largest British logistics service provider.
“The logistics sector continues to be attractive due to favourable
long-term supply and demand dynamics, especially around major
metropolitan areas,” said Wilson Lamont, Partner in the Ares Real Estate
Group. “Given the property’s proximity to London and the M25, we think
it is well positioned to benefit from improving rents over the medium
term.”
Advisors for Ares on the transaction were Berwin Leighton Paisner and
DTRE.
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, Asia and Australia. 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 Commerz Real AG
Commerz Real is a fully-owned subsidiary of Commerzbank AG with more
than 40 years of market experience and approximately 32 billion euros in
assets under management. The company combines comprehensive know-how in
asset management and a broad-based structuring expertise to deliver its
signature range of services of fund products focused on tangibles and
bespoke financing solutions. The fund spectrum includes the open-ended
real estate fund hausInvest, institutional investment products as well
as entrepreneurial participations in real estate, aircraft, regenerative
energy and ships. In its role as leasing company of Commerzbank Group,
Commerz Real offers tailored equipment leasing concepts along with
bespoke financing arrange-ments for assets such as real estate,
big-ticket equipment and infrastructure projects. www.commerzreal.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170509005200/en/
For Ares Management:
Media:
Mendel Communications
Bill
Mendel, 212-397-1030
[email protected]
or
Investors:
Carl
Drake, 800-340-6497
[email protected]
Source: Ares Management, L.P.
