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Stock impact report

Ares Real Estate Group and Specht Development Acquire 1,000,000-Square-Foot Industrial Facility

Ares Management Corporation Class A (ARES) 
Last ares management corporation class a earnings: 2/13 06:00 am Check Earnings Report
US:NYSE Investor Relations: ares-ir.com
Company Research Source: Business Wire
MILWAUKIE, Ore.--(BUSINESS WIRE)-- A joint venture between real estate funds managed by Ares Management, L.P. (NYSE: ARES) and an affiliate of Specht Development, Inc. announced today the $48.5 million purchase of an industrial facility located on 62 acres at 6433 SE Lake Road in Milwaukie, Oregon, a submarket of the greater Portland, Oregon area. The transaction closed on October 26, 2018. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20181107005286/en/ The property is currently used as a distribution center for grocery wholesaler and retailer SUPERVALU, which will continue to occupy the facility. At the end of SUPERVALU’s lease, the joint venture plans to renovate and modernize the property, including such improvements as new roofing, dock doors, and structural upgrades. The 992,190-square-foot property includes warehouse, distribution and m Show less Read more
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