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

NASH BOND PROMOTES TALENTED STAFF

October 17, 2021 - 11:40

Leading Central London retail and leisure property advisors Nash Bond have promoted Emma Strang, Lottie Newman and Matthew Peters to Director. In addition, they have promoted Alex Hughes to Associate [...]

+ Read More

CBRE IM BOOSTS F&B AND RETAIL OFFER AT HAMMERSMITH BROADWAY SHOPPING CENTRE

October 7, 2021 - 12:01

CBRE IM, advised by GCW and Nash Bond, have boosted the retail and leisure offering at Hammersmith Broadway Shopping Centre in west London with two new lettings. Joe & The Juice will open in 1,154[...]

+ Read More

IV REAL ESTATE SHAKES UP BRISTOL’S CORN STREET WITH LONDON COCKTAIL CLUB DEAL

September 27, 2021 - 08:39

IV Real Estate has secured its first letting at Gilbert House, a recently redeveloped 12,475 sq ft retail and office building at 37-39 Corn Street, Bristol. The London Cocktail Club will open its seco[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR