Michael Arougheti Of Ares Real Estate Acquires Industrial Portfolio From Luke J. Petherbridge In Houston

This transaction involves a significant industrial portfolio consisting of 1,020,722 square feet located in Houston's North and Northwest submarkets. The property is comprised of six facilities that are currently 95% leased to a total of 10 tenants, featuring various types of warehouses including cross-dock, rear-load, and inverted front-load designs with clear heights ranging from 26 to 36 feet.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not specified
• Buyer: Michael Arougheti - Ares Real Estate
• Seller: Luke J. Petherbridge - Link Logistics
• Brokers: Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold & Dawson Hastings - JLL

Ares Real Estate, through its new global logistics platform Marq Logistics, will oversee the management of the acquired assets. This acquisition reflects a strategic decision to enhance their logistics capabilities within a key market area.