Ares Nabs $442M Euro Portfolio

LONDON—On behalf of a managed fund, Ares Management, L.P. has agreed to acquire from IVG Institutional Funds, a European office portfolio consisting of 30 properties located across six countries.

The counties include the U.K., France, the Netherlands, Belgium, Finland and Spain. The 2.5 million square foot portfolio was valued at more than $442 million (€400M). This transaction, announced Wednesday, is the second pan-European portfolio acquired from IVG by Ares this year, following the 484,000 square foot, eight-property office and retail portfolio it announced in February.