Ares Management LP said March 9 that it has acquired the DC380 logistics warehouse from Commerz Real AG. Financial terms weren’t announced. DC380, of Harlow, England, is a 389,444-square-foot distribution warehouse with office space. Berwin Leighton Paisner and DTRE advised Ares.
LONDON–(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.