Acquisition Consists of 159,000 Square Meters of Office Properties
across Germany, the Netherlands, Austria and Finland
LOS ANGELES & LONDON--(BUSINESS WIRE)--
Ares Management L.P. (NYSE: ARES) announced today that funds managed by
its real estate group have completed the acquisition of a portfolio of
seven office properties located in major cities in Germany, the
Netherlands, Austria and Finland, comprising 159,000 square meters.
This diversified portfolio includes assets located in four of the “Big
Seven” German office markets (Frankfurt, Munich, Dusseldorf and Hamburg)
as well as in Vienna, Rotterdam and Helsinki and marks the fifth
pan-European portfolio acquisition for the Ares Real Estate Group in
recent years. The Ares Real Estate Group utilizes its local presence in
each of the key European markets in order to identify, evaluate,
underwrite, and finance complex cross-jurisdictional opportunities.
“This transaction further demonstrates our proven expertise in
completing complex transactions across multiple countries, giving
sellers confidence in our ability to close in a timely manner,” said
James Piper, Partner in the Ares Real Estate Group. “This portfolio adds
to our array of high-quality properties in major European cities - and
in particular Germany – where we continue to see tightening supply and
strong occupational demand in the office markets. Furthermore, it
provides several compelling asset management opportunities, including
creating significant additional value from leasing as well as
repositioning some of the assets.”
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative
asset manager with approximately $106.4 billion of assets under
management as of December 31, 2017 and 18 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180423005040/en/
Media:
Mendel Communications
Bill Mendel, +1 212-397-1030
[email protected]
or
Investors:
Carl
Drake, 800-340-6597
[email protected]
Source: Ares Management L.P.
