Ares Management Real Estate Fund Acquires Two Designer Outlet Centers in France for ~€200M

Ares Management, L.P.

announced today that a real estate fund it manages has acquired two designer outlet centers located in the French regional cities of Troyes and Roubaix from Resolution Property for approximately €200 million. The centers will continue to be managed by McArthurGlen, which has made a minority investment in the centers as part of this transaction. The outlet centers together comprise a total of approximately 47,000 square meters and feature strong retail tenants, including Polo Ralph Lauren, Nike, and Hugo Boss, among many others. The Troyes location is the largest outlet center in France. The Ares Real Estate Group has invested in European outlet centers in the past, and continues to be an active investor