Ares Management sells stake in €900m pan-European logistics portfolio

Ares Management Corp. has sold its stake in a 40-property pan-European logistics portfolio to Investec Property Fund, its co-investment partner in the portfolio, for more than €900 million ($1.03 billion).

Ares began aggregating the portfolio in January 2018, and through 12 separate transactions, grew the portfolio to include 40 properties across 31 locations covering more than 1 million square meters. The properties are generally mid-sized and located near airports, ports and population centers in the major logistics corridors of six European countries, including Germany, France and the Netherlands. Since aggregating the portfolio, the joint venture improved occupancy levels to 99 percent and extended average lease terms.

“In embarking on this aggregation strategy, our objective was to build a scaled portfolio of well-located, income-generating logistics assets with clear value-add potential across Europe’s major logistics corridors,” said Wilson Lamont, partn