Ares Management Fund Acquires Logistics Warehouse in Harlow, England
May 09 2017 - 3:00AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170509005200/en/
For Ares Management:Media:Mendel CommunicationsBill Mendel,
212-397-1030bill@mendelcommunications.comorInvestors:Carl Drake,
800-340-6497cdrake@aresmgmt.com
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