Ares Management Corporation, through its real estate funds and in conjunction with EQ Group, has acquired an 18-hotel portfolio from Landsec for a headline price of £400 million. The properties were previously fully let to AccorInvest under long-term leases. However, as part of the acquisition, the leases were surrendered and Ares assumed operations for the hotels, comprising 3,028 rooms primarily in London and other significant UK cities. This strategic move enables Ares to optimize the value of the portfolio through asset management initiatives that include refurbishing and repositioning as well as improving energy efficiency and carbon emissions profiles. John Ruane, Partner and Co-Head of Ares European Real Estate, notes the acquisition enables access to assets in a dislocated market, with a focus on value-add opportunities. Ares Real Estate manages $48.8 billion in assets with over 270 professionals, while EQ Group boasts a history of over €3.3 billion in hospitality real estate investments. Ares Management Corporation is described as a diverse global alternative investment manager, managing $428 billion in assets as of March 31, 2024, with a footprint that spans across various continents and nearly three thousand employees.

Real Estate Investment & Management, Hospitality, Private Equity,United Kingdom, Global

https://ir.aresmgmt.com/news/ares-real-estate-announces-acquisition-of-hotel-portfolio-from-landsec/5eb2c463-5956-4da6-a58a-1f0ddf96bbf9