Ares Management has held the final closing of its Ares U.S. Real Estate Fund X. It was oversubscribed with $1.8bn of commitments relative to its $1.5bn target and is more than 75% larger than its predecessor fund, which closed at $1.04bn in November 2018.
“With the closing of the tenth fund in this series, we are proud of the continued strong support we received from our longstanding investors along with the significant demand from our new investors,” said David Roth, Partner and Co-Head of Ares U.S. Real Estate.
As part of an integrated global real estate team, the U.S. value-add strategy applies a cycle-tested approach to investing in high-quality real estate assets with in-place cash flows and defined opportunities to enhance property values. Through U.S. X, the Ares Real Estate team continues to acquire and improve institutional quality assets in historically attractive sectors, such as multifamily and industrial, with select investments in other major and adjacent property types to generate both income and appreciation for investors.
Read more: Business Wire
