Redevco and Ares Management Launch €500 Million Iberian Retail Real Estate Joint Venture.

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London, 9 September 2015 – Redevco, the pan-European retail real estate specialist, and funds
managed by Ares Management (NYSE:ARES), the global alternative asset manager, announced
today a €500 million commercial real estate joint venture, Redevco Iberian Ventures. The joint
venture will invest in shopping centres, retail parks and high street properties in Spain and
Portugal.
Redevco Iberian Ventures will be seeded with a combination of assets in the Iberian peninsula
from funds managed by Redevco and Ares that have a combined value of approximately €110
million. The effort will be led by Israel Casanova Lafuente and Rafael Aviles on behalf of Redevco
and Ares, respectively, and the partnership will jointly use the members’ existing deep relationships
in Spain and Portugal to source and execute potential investments. Redevco will be the local
manager of the joint venture’s assets.
Redevco CEO Andrew Vaughan said: “This is an important step for Redevco building its thirdparty
real estate investment management business. We have highly experienced teams on the
ground throughout Europe to maximise the value of our unique retail property platform for investors
and retailers alike. We’ve been looking to join up with like-minded investors who share our values
and investment horizons. Ares is a natural partner in this respect.”
Bill Benjamin, Partner of the Ares Real Estate Group and Head of European Real Estate,
said: “We believe that with the scale of Ares’ market-leading global real estate investment platform
and Redevco’s deep experience in retail real estate investing, especially in the Spanish and
Portuguese market, Redevco Iberian Ventures will be well-positioned to tap into the significant
value-add and opportunistic investment opportunities we have been seeing in this resurgent
market.”

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