Redevco And Ares Management Launch €500M Iberian Real Estate Joint Venture

September 12, 2015

Redevco, the pan-European retail real estate specialist, and funds managed by Ares Management (NYSE:ARES), the global alternative asset manager, announced today a €500 million commercial real estate joint venture, Redevco Iberian Ventures. The joint venture will invest in shopping centres, retail parks and high street properties in Spain and Portugal.

Redevco Iberian Ventures will be seeded with a combination of assets in the Iberian peninsula from funds managed by Redevco and Ares that have a combined value of approximately €110 million. The effort will be led by Israel Casanova Lafuente and Rafael Aviles on behalf of Redevco and Ares, respectively, and the partnership will jointly use the members’ existing deep relationships in Spain and Portugal to source and execute potential investments. Redevco will be the local manager of the joint venture’s assets.

Redevco CEO Andrew Vaughan said: “This is an important step for Redevco building its third-party real estate investment management business. We have highly experienced teams on the ground throughout Europe to maximise the value of our unique retail property platform for investors and retailers alike. We’ve been looking to join up with like-minded investors who share our values and investment horizons. Ares is a natural partner in this respect.”

Bill Benjamin, Partner of the Ares Real Estate Group and Head of European Real Estate, said: “We believe that with the scale of Ares’ market-leading global real estate investment platform and Redevco’s deep experience in retail real estate investing, especially in the Spanish and Portuguese market, Redevco Iberian Ventures will be well-positioned to tap into the significant value-add and opportunistic investment opportunities we have been seeing in this resurgent market.”

ENDS

Latest News

MOORGARTH LAUNCHES PM+U – A NEW KIND OF PROPERTY MANAGEMENT COMPANY

February 19, 2021 - 16:07

The highly successful team behind Moorgarth Property Management has launched a new property management company – PM+U – specialising in retail, office and leisure assets across the UK. Under the l[...]

+ Read More

ARLINGTON TO DEVELOP ONE OF LONDON’S FIRST DEDICATED LIFE SCIENCE DEVELOPMENTS

February 16, 2021 - 11:08

Arlington has received full planning consent for a building that is set to become one of London’s first fully lab-enabled buildings to be delivered by a commercial property investor. Known as Refine[...]

+ Read More

WILFORD LANE DEVELOPMENTS SELLS OFF WEST BRIDGFORD SCHEME IN NOTTINGHAM

February 9, 2021 - 12:36

Wilford Lane Developments Limited (WLDL) – a joint venture between Kuwaiti developer/investor Salhia Real Estate Co KSC and Simons Developments Ltd – has sold the commercial element of its Wes[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR