Ares Real Estate completes acquisition of Hotel Portfolio from Landsec to strengthen real estate holdings
Acquiring Company
Ares
Los AngelesProfessional ServicesEnergyOil And GasFinancial ServicesReal EstateFinanceReal Estate InvestmentVenture CapitalAngel InvestmentRenewable EnergyFintechLendingAsset ManagementDescription
Ares Management Corporation announced that funds managed by Ares Real Estate have acquired a hotel portfolio from Landsec alongside hotel operating partner EQ Group. The portfolio consists of 18 hotels with 3,028 rooms at a headline purchase price of £400 million. The acquisition provides the opportunity to enhance value through implementing various asset management initiatives including the refurbishment and repositioning of certain assets.
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