Los Angeles & London—19 August 2015—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-square-meter 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 million, and this transaction is the second pan-European portfolio acquired from IVG by Ares this year, following the 45,000-square-meter, 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, utilizing its local presence in each of the key European markets in order to identify, evaluate, underwrite, and finance complex cross-jurisdictional opportunities.
“This transaction further demonstrates our proven expertise in completing complex multi-jurisdictional transactions, which gives sellers confidence in our ability to close in a timely manner. It also fits with our strategy to deliver upside growth through diversification across geographies and asset types for our investors,” said Bill Benjamin, Partner in the Ares Real Estate Group. “We believe this portfolio provides several compelling asset management opportunities, including the ability to create significant value from leasing.”
“We continue to seek out the right market circumstances to identify and execute the disposal strategies for non-core assets on behalf of our investors. The disposal of this complex multi-fund, multi-country portfolio demonstrates IVG’s commitment to delivering above expectation performance to our clients,” said Martin Tartsch, Executive Director at IVG Institutional Funds GmbH. “Our investors continue to show their support to IVG Institutional Funds through new products and strategies across Europe.”
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $88 billion of assets under management as of June 30, 2015 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 four distinct but complementary investment groups in Tradable Credit, Direct Lending, 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.
About IVG Institutional Funds
IVG Institutional Funds GmbH is a leading provider and manager of structured real estate products for institutional investors with assets under management of EUR 10 billion. As an integrated investment platform with a network of branches spanning Europe and many years of expertise, the company offers its investors all services for the structuring and management of real estate investment products. IVG Institutional Funds essentially focuses on commercial properties in the office, retail and logistics sector in Europe.
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IVG Institutional Funds GmbH
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