Ares US Real Estate Opportunity Fund III
Detailed Summary of AREOF III Investments
$71 million committed to closed transactions with seven additional in-closing investments
Closed investments as of June 30, 2020
Washington, D.C. Multifamily^
Ground Lease Aggregation
Project LaGrange
Investment
1425 New York Avenue
Tropical Logistics Park
Total Closed:
Closed and In-Closing Investments as of October 1, 2020
Washington, D.C. Office
Texas A&M Student Housing
Industrial JV
Single Family Rental Portfolio
Total Closed and In-Closing:
Property
Type
Office
Industrial
GRAND TOTAL:
Multifamily
Mixed-Use
Industrial
Office
Student Housing
Location
Industrial
Single-Family
Washington, D.C.
Las Vegas, NV
Washington, D.C.
National
National
Washington, D.C.
Houston, TX
National
National
^This investment closed in August 2020.
*Represents equity required for Phase I should Ares decide to proceed with vertical development.
**Expected net of co-investment.
Size
+Initial equity commitment of $59 million expected with total potential equity commitment of $200 million.
++Initial equity commitment of $78 million expected with total potential equity commitment of $150 million.
Confidential - Not for Publication or Distribution
37
277K SF
1.3MM SF
1,200 units
2.3MM SF
176K SF
1,872 beds
3.2MM SF
10,000+ homes
Equity
Acquisition Committed (¹)
Date
($mm)
Jan-20
$35.8
Feb-20
35.0
$70.8
Anticipated Equity
Commitment (5)
($mm)
Please refer to notes on page 36 and endnotes on pages 65-66. These investments reflect the closed and in-closing investments in AREOF III as of October 1, 2020.
$50.0*
100.0**
59.0*
32.0
38.0
78.0++
120.0
$477.0
$547.8
Equity
Funded (2)
($mm)
$14.1
26.0
$40.1
Equity
Funded (2)
($mm)
$0.0
0.0
0.0
0.0
0.0
0.0
0.0
$0.0
$40.1
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