Ares Real Estate Announces Acquisition of Hotel Portfolio from Landsec
Ares Management Corporation Class A (ARES)
Last ares management corporation class a earnings: 2/13 06:00 am
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Source: Business Wire
Income-Generating Hotel Portfolio Concentrated in London and Other Major UK Cities LONDON--(BUSINESS WIRE)--Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today that funds managed by Ares Real Estate have acquired a hotel portfolio from Landsec alongside hotel operating partner EQ Group (“EQ”), a leading European hospitality investment and management platform.Prior to the acquisition, the properties were fully let to AccorInvest under long-term leases. In parallel with the closing of the acquisition, Ares entered into an agreement with AccorInvest to surrender these leases and transfer operations of the relevant hotels to Ares. As a result of these transactions, Ares has acquired 18 hotels with 3,028 rooms (the “Portfolio”) at a headline purchase price of £400 million.The Portfolio consists of midscale and economy properties with the majority of value in Central London and the remaining assets primarily located in major
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ARES
Earnings
- 5/2/24 - Miss
ARES
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- ARES's page on the SEC website