Guelda Voien
The manager acquired two net-leased data centers in Virginia with equity from its real estate funds, and will develop a third via its infrastructure arm.
CIM-BGV Impact Ventures, a partnership between the manager and entrepreneur and financial literacy advocate John Hope Bryant, will fund the preservation and construction of low-income housing.
The transaction elbows out a rival bid by Sixth Street, made in August and widely expected to go forward.
The San Francisco-based manager has made a nonbinding offer for the Boston-based listed company and its 32 million-square-foot US warehouse portfolio.
Bigger firms, bigger deals and the ubiquity of data characterized the evolution of dealmaking in private real estate over the past decade.
Strong market conditions and lower risk make it an opportune time to invest in the asset class, said the firm’s CEO.
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The acquisition – which includes GCP assets in Japan, Brazil and the US – will nearly double Ares’ real estate assets under management.
Walton Street Mexico is focused on industrial properties in the Latin American country.
The building's owners have completed $250m in upgrades since 2020, but a lawsuit claims the renovations are too little, too late.