July 8, 2013

Firm advises AREA Property Partners, L.P. in its acquisition by Ares Management LLC.

On May 10, it was announced that Ares Management LLC has signed a definitive agreement to acquire Willkie client AREA Property Partners, L.P., a leading real estate management firm investing across North America, Europe and India.   The transaction closed on July 1.  The transaction includes the acquisition of the minority stake in AREA held by National Australia Bank.   As a result of the transaction, Ares Real Estate Group will have approximately $8 billion of committed capital and more than 70 investment professionals upon closing. 

Based in New York, AREA is a top international real estate investor and fund manager on behalf of prominent government and corporate pension funds, sovereign wealth funds, insurance companies, foundations, endowments, and high net worth individuals.  Its funds have collectively invested in over 600 transactions with an aggregated value in excess of $70 billion. Ares Management is a global alternative asset manager and SEC registered investment adviser.  

The deal was handled by partners Jack Nusbaum, Russell Leaf, James Silk, Christopher Peters, Jordan Messinger and Judith Harger, special counsel Jonathan Konoff, and associates Delano Ladd, Amanda Burke, Christopher Wall, Brent Morowitz and DJ Stauber.

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