Courtesy of Benzinga.
Ares Management, L.P. (NYSE: ARES) 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
