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Ares Real Estate Group Announces Sale of Stake in Gaylord Rockies Resort & Convention Center

ARES MGMT LP (ARES)  More Company Research Source: Business Wire
Last ares mgmt lp earnings: 8/1 09:18 pm Check Earnings Report
US:NYSE Investor Relations: ares-ir.com
PDF LOS ANGELES--(BUSINESS WIRE)-- Ares Management, L.P. (NYSE: ARES) announced today that funds managed by its Real Estate Group have agreed to the sale of its investment in the Gaylord Rockies Resort & Convention Center, a 1,500-room hotel and convention center under construction in Aurora, Colorado. As part of the transaction, Ryman Hospitality Properties, Inc. (NYSE: RHP) and RIDA Development Corporation, Ares’ other partners in the development’s joint venture, will pay a combined total of approximately $270 million to acquire Ares’ investment. The transaction is subject to customary closing conditions, including joint venture lender consent, and is expected to close by the end of 2018. Located less than 10 minutes from the Denver International Airport and 25 minutes from downtown Denver, Gaylord Rockies Resort & Convention Center is ideally situated for both business and leisure travelers. Construction [Read more]

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