Ares Management Corporation Closes $3.8 Billion Net Lease Acquisition of Capital Automotive
17 Februar 2022 - 12:45PM
Business Wire
Latest Transaction Brings Ares’ Total Net Lease
Gross Asset Value to More Than $7 Billion Over the Last 15
Months
Ares Management Corporation (“Ares”) (NYSE: ARES) announced
today that funds managed by its Alternative Credit strategy and
Real Estate Group have acquired Capital Automotive LLC (“CARS”)
from a Brookfield private real estate fund for $3.8 billion. This
latest transaction highlights Ares’ increased focus on serving
sponsors and companies in need of flexible net lease solutions.
Headquartered in McLean, VA, CARS is a self-managed real estate
company that provides highly tailored, sale-leaseback capital to
automotive dealers in the U.S. and Canada to support them in
acquiring new locations and upgrading facilities. The company owns
a diversified portfolio of over 250 high-quality, operationally
essential real estate assets that are structured as long-term
triple net leases.
Using the complementary strengths of the Ares Real Estate and
Alternative Credit teams and a dedicated team of seasoned net lease
investment professionals, Ares has accelerated its net lease
activities. Including the recent investment in CARS, Ares’ funds
have invested in over 1,200 assets totaling approximately $7.2
billion of gross asset value in the U.S. and Europe over the last
15 months. This includes net lease investments spanning retail,
industrial and office assets leased to tenants with varying credit
profiles.
“Our net lease capabilities sit at the nexus of our leading
credit and real estate teams, providing us with a 360-degree view
through which we can offer highly flexible net lease solutions,”
said Joel Holsinger, Partner and Co-Head of Alternative Credit. “We
are excited by growing market demand from sponsors and companies
seeking a creative partner to help them unlock the value of their
real estate assets. We are committed to being a partner of choice
to them.”
“This is an area of the market that plays to Ares’ strengths as
a platform given the different disciplines that are in constant
collaboration. We believe that our ability to apply a hybrid real
estate and credit lens to assess opportunities is a key
differentiator,” said David Roth, Partner and Co-Head of U.S. Real
Estate. “We provide our partners with the advantages of scale and
experience to deliver a full suite of solutions that are
unconstrained by asset type, tenant profile and structure.”
“I’m excited to be partnering with the team at Ares and believe
that together we will be well positioned to take advantage of the
expanding opportunity set in the net lease market,” said Jay
Ferriero, President and Chief Executive Officer of CARS. “Beyond
the competitive edge of the Ares platform and the experience of the
team, the strength of this partnership is reinforced through our
shared commitment to accelerating positive social impact.”
Ares’ dedicated net lease investment team brings deep industry
experience combined with an integrated operating platform. The team
focuses on high quality real estate and tenants while seeking to
provide creative structuring and financing solutions in order to
maintain maximum capital flexibility.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of December 31, 2021, Ares Management Corporation's
global platform had approximately $306 billion of assets under
management, with approximately 2,100 employees operating across
North America, Europe, Asia Pacific and the Middle East. For more
information, please visit www.aresmgmt.com.
About Alternative Credit
Ares' Alternative Credit strategy focuses on lending to and
investing in assets that generate contractual cash flows and fills
gaps in the capital markets between credit, private equity and real
estate. Ares Alternative Credit targets investments across the
capital structure in specialty finance, lender finance, loan
portfolios, equipment leasing, structured products, net lease, cash
flow streams (royalties, licensing, management fees), and other
asset-focused investments. Co-Headed by Keith Ashton and Joel
Holsinger, Ares Alternative Credit leverages a broadly skilled and
cohesive team of approximately 50 investment professionals as of
December 31, 2021. Aligning Ares’ investment activities with its
societal impact, Ares and Alternative Credit portfolio managers
have committed to donating a portion of carried interest from
certain Alternative Credit funds to global health and education
charities.
About Ares Real Estate Group
The Ares Real Estate Group manages comprehensive public and
private, equity and debt strategies, with approximately $41.2
billion of assets under management and over 200 investment
professionals, as of December 31, 2021. The real estate team
maintains a time-tested and consistent investment approach across
equity and debt strategies focusing on major property types that
have value creation opportunities, located in liquid markets with
diversified economies.
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Media Carl Drake, +1 888-818-5298 or Brittany Cash, +1
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