Ares Management Fund Acquires 300-Unit Residential & Retail Complex near Frankfurt, Germany
July 26 2017 - 1:00AM
Business Wire
Ares Management, L.P. (NYSE:ARES) announced today that a fund
managed by its real estate group has acquired an approximately
300-unit, 24,000-square-meter residential and retail complex in the
Frankfurt Rhine-Main metropolitan region of Germany.
This acquisition is the latest addition to Ares’ substantial and
growing German residential real estate portfolio, which is now
comprised of more than 4,100 units across approximately 260,000
square meters.
“This property strengthens Ares’ residential portfolio in
Germany, which we have been amassing and repositioning for the past
several years to include attractive multifamily assets in
metropolitan and suburban areas across the country,” said John
Ruane, Partner in the Ares Real Estate Group. “Ares continues to
believe that the market fundamentals in Germany are strong for
multifamily property, particularly in areas near major city
centers.”
Ares will continue to work with Forte, a Frankfurt-based real
estate asset manager that Ares partnered with to acquire and manage
its existing German residential investments, in order to add value
through refurbishment, repositioning and vacancy reduction across
the expanded portfolio.
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 and Asia. 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 Forte
Forte is a German housing company managing residential
portfolios with over 7,000 apartments from its six offices across
Germany with headquarters in Frankfurt and Berlin. Forte owns the
portfolios together with institutional investors and high net worth
individuals. For more information, visit www.fortecap.de.
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version on businesswire.com: http://www.businesswire.com/news/home/20170725006579/en/
For Ares Management:Media:Mendel CommunicationsBill Mendel, +1
212-397-1030bill@mendelcommunications.comorInvestors:Carl Drake, +1
800-340-6597cdrake@aresmgmt.comorPriscila Roney, +1
212-808-1185proney@aresmgmt.comorFor Forte:Tom Zeller / Daniel
GabelManaging Partner / Senior AssociateFeldhoff & Cie.
GmbHEschersheimer Landstraße 5560322 Frankfurt am MainT
+49.69.2648.677-18F +49.69.2648.677-20M
+49.152.21.90.33.48tz@feldhoff-cie.de / dg@feldhoff-cie.de
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