Ares Management Corp. has closed its Ares US Real Estate Opportunity Fund III.
Ares' Opportunity Fund III will target distressed, repositioning, and selective development opportunities. It was oversubscribed with approximately $1.7 billion of commitments compared to its $1.5 billion target. This fund is the largest US real estate equity fundraise for Ares and represents a significant increase from the $1 billion of commitments raised for the predecessor fund and related vehicles.
The Opportunity Fund III has nine investments committed to date. Ares intends to rely on its proprietary sourcing capability through long standing relationships and dry powder to find and secure opportunities.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
