A fund managed by the Ares Real Estate Group and Forte Capital have acquired 215 residential units with a total gross leasable area of 17,000 square meters (183,000 square feet) in Kiel, Germany. This is the latest example of Ares and Forte expanding their jointly held portfolio of residential properties in Germany, which today represents a total of approximately 4,500 units. Terms of the transaction were not disclosed.
In line with a longstanding investment strategy in the German multifamily residential market, Ares and Forte intend to retain the properties in their joint portfolio over the long term with a focus on expanding the range of renovated and affordable residential units in the region. The acquired units are part of a larger residential complex, which offers green, family-friendly surroundings as well as access to numerous schools and shopping facilities within walking distance.
“This expansion is part of a long-term commitment to Germany as a priority mar
