Ares enters Spanish logistics with a deal of €50M

Ares enters Spanish logistics with a deal of €50M

One of the logistics warehouses acquired by Ares Management
 

This is a first step in the roadmap set by the fund, which intends to add 250 million euros in logistics assets in the country in the next two years.

The five warehouses are distributed by Madrid, Gerona and Zaragoza and two more in Valencia. Together, the five assets acquired add more than 800,000 sqm of gross leasable area, according to Expansíon. Currently, the five warehouses are fully rented to logistics operators such as, among others, Logisfashion, Adler Pelzer or Importaco. Advisors such as RPE, JLL, CBRE, Arcadis, FBD and Deloitte have participated in the transaction operations.

The current investment strategy of Ares Management Corporation in Spain involves investing in assets with a Core investment profile - more secure transactions but offering lower profitability. Following that strategy the North American fund has signed an exclusive agreement with the platform specialized in investment and management of real estate logistics assets Dream Logistics, which allows adding the local knowledge of its partner to the international experience of the fund.

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