Ares Management Real Estate Group has completed the $1B sale of it’s stake in a pan-European logistics portfolio to Investec Property Fund, it’s co-investment partner in the portfolio.
“The acquisition of the remaining interest in this pan-European logistics portfolio from Ares presents Investec Property Fund with a unique opportunity to execute on our intended strategy to deploy capital into portfolios that have a demonstrated track record, and are capturing growth stemming from positive underlying property fundamentals.”
Andrew Wooler & Darryl Mayers, Investec joint CEO’s
The portfolio consists of 40 properties across 31 locations near airports, ports, and population centres. Since acquiring the portfolio, the partnership has increased occupancy levels to 99% and increased average lease terms.