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Freshfields advises Ares Management on its sale of a pan-European logistics portfolio to Investec Property Fund

 Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised funds managed by the Real Estate Group of Ares Management Corporation (ARES), a leading global alternative asset management firm, on the sale of its stake in a 40-property pan-European logistics portfolio to Investec Property Fund (Investec), the South African banking and investment management specialist and its co-investment partner in the portfolio, for more than €900 million. 
 
Ares acquired the portfolio in January 2018 - which Freshfields also advised them on – and then began aggregating it. Through 12 separate transactions, the portfolio grew to include 40 properties across 31 locations covering more than 1,000,000 square meters. The properties are generally mid-sized and located near airports, ports, and population centres in the major logistics corridors of six European countries; Germany, France, the Netherlands, Spain, Poland and Italy. Since aggregating the portfolio, the joint venture improved occupancy levels to 99% and extended average lease terms.
 
The deal signed and closed on 24 February 2020.
 
The Freshfields team was led by partner Alex Watt, supported by senior associate Palina Pradhan and associate Cassandra Steinmetz, with tax advice being given by partner Jill Gatehouse and associate Alex Cheetham.
 
ENDS
 
Notes for editors
About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms.  Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.
 

The Freshfields team was led by: