Michael Arougheti Of Ares Acquires 36-Property Industrial Portfolio Across 13 States For $650.2M

Ares is acquiring a 7.3 million-square-foot, 36-property industrial portfolio across 13 states for $650.2 million. The portfolio is led by Illinois and Ohio and leased to 36 tenants, which contributes to its value in the United States market. The acquisition is structured with $168.2 million in equity and a $500 million CMBS loan.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $650,200,000
• Square Footage: 7,300,000
• Price Per Square Foot: $89
• Buyer: Michael Arougheti - Ares
• Lender: Wells Fargo, Barclays Bank & Bank of America

The acquisition further enhances Ares' growing U.S. industrial holdings following its $2.1 billion Plymouth Industrial REIT acquisition, marking a significant expansion in their investment portfolio.