Ares Management Corporation has acquired a 1.2m sqft UK portfolio of industrial and logistics assets from Royal London Asset Management Property.
91传媒在线 understands that Ares funds bought the assets located in the South East and Midlands for around 拢200m (鈧�235m).
The companies said the portfolio comprises a mix of multi-let industrial and single-let distribution assets with a strong tenant line-up, spread across a wide range of industries.
Wilson Lamont, co-head of European real estate at Ares, said the acquisition underscores the firm鈥檚 鈥減ositive outlook for the UK logistics market and our ability to take advantage of evolving industry tailwinds over the long term鈥�.
Lamont added: 鈥淟ooking ahead, following a period of significant repricing, we are seeing signs of stabilisation in certain pockets of the European real estate markets 鈥� starting in the UK 鈥� and we anticipate a notable increase in transaction activity in 2024.
鈥淲ith almost 30 years of transacting in Europe鈥檚 major markets, the Ares team is confident that we are well-positioned to capitalise on attractive opportunities to invest in quality assets in our highest-conviction sectors.鈥�
Royal London Asset Management Property will continue to asset manage the portfolio for Ares.
Mark Evans, head of property at Royal London Asset Management Property, said: 鈥淭his strategic partnership with Ares aligns with our long-term vision to adapt to evolving market dynamics and elevate the overall performance of Royal London Asset Management Property. The current landscape offers an opportunity to allocate capital towards growing our development pipeline across the sectors and larger assets, positioning us for sustained growth and success.
鈥淲ith a strong tenant line-up and a favourable outlook in the industrial market, we recognise this as a timely and advantageous move. Additionally, there are significant prospects to implement refurbishment strategies that will not only improve asset quality but also drive enhanced performance for Ares.鈥�
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