Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Ares Management Acquires German Residential Property Portfolio.

Document Cited in Related
Vincent

M2 EQUITYBITES-March 20, 2015-Ares Management Acquires German Residential Property Portfolio

(C)2015 M2 COMMUNICATIONS http://www.m2.com

20 March 2015 - US-based alternative investment manager Ares Management L.P. (NYSE: ARES) has added to its existing residential portfolio in Germany through the acquisition by funds it manages of an additional 303 residential and 28 commercial units, totaling 22,000 square meters of lettable space, the company said on Friday.

The properties are located in North Rhine-Westphalia and were acquired from a fund managed by Norway-based Obligo Investment Management. Ares now owns more than 2,000 units across Germany.

This transaction is the first add-on acquisition for Ares' existing residential real estate portfolio in Germany, which consists of almost 1,700 units totaling 108,807 square meters located across several large cities in west and northwest Germany.

Ares said it will continue to work with...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT