Deal snapshot: ARES MANAGEMENT FUND ACQUIRES UK LOGISTICS WAREHOUSE FROM COMMERZ REAL.
MANews-(C)2009-2017
A fund managed by the real estate group of California, US-based alternative asset manager Ares Management, L.P. (NYSE: ARES) has acquired the Harlow, England DC380 logistics warehouse from Germany based financial institution Commerzbank AG subsidiary Commerz Real AG, the company said.
IPE International Publishers Limited reported the German fund manager sold the DC 380 property in Harlow for EUR 40.5m. DC380 is a 389,444-square-foot distribution warehouse with office space located in an established industrial and trade area of in the southeast of England between London and Stansted Airport. This property is currently leased to Industrial Tool Supplies Ltd., an independent suppliers of power tools...
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