December 6, 2018
Los Angeles-based Ares Management Corporation reported the final closing of Ares U.S. Real Estate Fund IX, which primarily targets investments in multifamily, industrial, and office properties located across the United States, at roughly $1.04 billion. This fundraise represents a significant increase from its predecessor fund, Ares U.S. Real Estate Fund VIII, which closed at $825 million in December 2014.
Through U.S. Fund IX, the team is continuing its value-add investing strategy of acquiring and improving institutional quality assets through renovation and repositioning initiatives in order to generate attractive returns and high current income.
The U.S. Fund IX is approximately 50% committed with 12 investments across a diverse portfolio of properties representing more than 4,300 multifamily units and 15.7 million square feet of industrial and office space.
Ares’ Steven Wolf says, “It is very gratifying to receive the strong support from our long-term investors, and to attract many new investors to our expanding real estate platform.”
For comments, questions or concerns, please contact Dennis Kaiser