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Ares Management LLC announced today that it has completed its
acquisition of AREA Property Partners, L.P., a top-tier real estate
management firm investing across North America, Europe, and India. As a
result, the Ares Real Estate Group now has a total of $8 billion in
committed capital under management, including the publicly traded real
estate investment trust Ares Commercial Real Estate Corporation
ACRE.
As previously announced, Lee Neibart, AREA's Chief Executive Officer, is
now a Senior Partner of the Ares Real Estate Group. Mr. Neibart joins
John Bartling, also a Senior Partner of the Ares Real Estate Group, as
the Global Co-Heads of the Group. William Benjamin, AREA's Head of
Europe
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