Ares Management, L.P. (NYSE:ARES) announced today that a real estate fund it manages has signed a definitive agreement to acquire a 240,000 m² office portfolio consisting of 30 properties located across six European countries, including the U.K., France, the Netherlands, Belgium, Finland and Spain, from IVG Institutional Funds. The portfolio was valued at more than €400 mln, and this transaction is the second pan-European portfolio acquired from IVG by Ares this year, following the 45,000 m², eight-property office and retail portfolio it announced in February.
For two decades, the Ares Real Estate Group has invested in several portfolios of properties across Europe, utilising its local presence in each of the key European markets in order to identify, evaluate, underwrite, and finance complex cross-jurisdictional opportunities.
Source: Ares Management
