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News Breaks
July 7, 2014
05:08 EDTARESAres Management to acquire Pegasus Business Park for EUR 83.4M
Ares Management announced that real estate funds it manages have signed a definitive agreement to acquire Pegasus Business Park from SEGRO PLC, a large, listed UK REIT, for EUR 83.4M. Located near the Brussels International Airport and eight kilometres from the city centre, Pegasus Business Park was initially developed by SEGRO between 1999 and 2003 and today consists of nine office buildings and an underground car park extending over 83,384 square meters. The transaction also includes 11 plots of undeveloped land adjacent to existing buildings and encompassing more than 65,000 square meters. With an average occupancy rate of approximately 80%, Pegasus Business Park currently has 27 tenants.
News For ARES From The Last 14 Days
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February 3, 2016
06:02 EDTARESAres Management and McArthurGlen acquire two outlet centers in France
Ares Management has acquired two designer outlet centers located in the French regional cities of Troyes and Roubaix from Resolution Property for approximately EUR$200M. The centers will continue to be managed by McArthurGlen, which has made a minority investment in the centers as part of this transaction. The outlet centers together comprise a total of approximately 47,000 square meters.
January 27, 2016
08:04 EDTARESAres Management signs strategic investment partnership with Montage Hotels
Ares Management and luxury hospitality management company Montage Hotels & Resorts announced that a real estate fund managed by Ares has made a strategic investment in Montage. As part of the transaction, Ares will purchase a minority stake of up to 20% in Montage Hotels & Resorts. Ares also will provide up to $200M in future growth capital to Montage Hotels & Resorts, with a strategic focus on the continued expansion of its portfolio of Montage- and Pendry-branded hotels and resorts. Jay Glaubach, a Managing Director at Ares Management and Co-Portfolio Manager of Ares' opportunistic real estate funds, now joins the Montage Hotels & Resorts Board of Directors. This transaction marks the second Ares investment with Montage Hotels & Resorts.

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