AREA Property Partners

AREA Property Partners was a New York City headquartered international real estate fund manager, that had been investing in the United States since 1993, and globally since 1995. It was headquartered in New York City, with additional offices in Atlanta, Purchase, London, San Francisco, Luxembourg, Amsterdam, Madrid, Paris, and Mumbai. In July 2013, Ares Management announced that it had completed its acquisition of AREA Property Partners.[1][2]

Overview

AREA Property Partners was founded in 1993, by William Mack and the private equity firm Apollo Global Management, LLC as Apollo Real Estate Advisors. AREA had invested over $13 billion in more than 570 transactions, with an aggregate value in excess of $65 billion.

History

William Mack recognized opportunities in the distressed property markets in the United States in the early 1990s. In 2004, the firm acquired the Value Enhancement Funds, which focus on the U.S. value-added segment of the real estate investment spectrum.

References

  1. ↑ "Ares Management Closes Acquisition of AREA Property Partners" (Press release). Los Angeles & New York: Ares Management. 1 July 2013. Retrieved 25 June 2016.
  2. ↑ Levitt, David M. (10 May 2013). "Mack's AREA Property Partners to Be Acquired by Ares". Bloomberg News. Retrieved 25 June 2016.

External links

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