Ares Management has collected $1.1 billion for its Ares US Real Estate Opportunity Fund III, according to a recent SEC filing. The fund was backed by 12 investors.
The fund could not be reached for comment at the time of publication and it was unclear whether this was a final close. An equity fundraising target was not disclosed in the filing.
The opportunistic fund was launched in November 2019 and will follow an opportunistic investment strategy targeting primary property types in major markets throughout the United States.
Ares’ real estate equity strategy is to focus on cash-flowing quality assets and de-risked developments with an opportunity to create value through repositioning, lease-up, re-tenanting, redevelopment, and/or complex recapitalizations, according to the firm’s website.
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