Ares Real Estate Fund Acquires 358,000 Square Foot Industrial Asset From Triten Real Estate Partners

The property asset involved in this transaction is the Fairbanks Northwest Distribution Center, located at 7810 Fairbanks North Houston Road in Houston. This is a two-building Class A industrial asset with a total square footage of 358,000. The property is currently 80% leased and is part of a market that shows strong demand for industrial spaces in Houston's northwest submarket.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Address: 7810 Fairbanks North Houston Road
• Market: Houston
• Square Footage: 358,000
• Buyer: Michael Arougheti, Ares Real Estate fund
• Seller: Scott Arnoldy, Triten Real Estate Partners
• Brokers: Trent Agnew, Charlie Strauss, Lance Young & Brooke Petzold, JLL

This transaction showcases the involvement of key players in the real estate sector, with Michael Arougheti representing Ares Management in the acquisition, while Scott Arnoldy represented Triten Real Estate Partners as the seller. The brokerage services were provided by Trent Agnew, Charlie Strauss, Lance Young, and Brooke Petzold from JLL.