Ares US Real Estate Opportunity Fund III
Ares U.S. Opportunistic Strategy Portfolio Overview
AREOF, AREOF II, & Related Vehicles have deployed $1.5 billion of equity into 35 closed investments
$ in millions
Equity Raised (⁹)
Investment Period
Number of Closed Deals
Remaining Partially Realized / Unrealized Investments
Student Housing, Industrial,
2%
2%
Senior Housing,
3%
Office,
6%
Property Type Diversification
Mixed-Use,
7%
Hotel,
22%
Land,
1%
$1,730.3
2012-2019
Confidential - Not for Publication or Distribution
35
4/11
Multifamily,
58%
Capital Deployed (14)
Proceeds
$1,447.3
(1,790.1)
Pro Forma Projected Gross IRR / EM; Net IRR / EM (1)(2)(3)(4) 22% / 1.8x; 16% / 1.6x
Pro Forma Fair Value Gross IRR / EM; Net IRR / EM (1)(2)(3)(5)
22% / 1.6x; 16% / 1.4x
LTV(7)
59.1%
Geographic Diversification by Metro Area
Washington, D.C.,
3%
Seattle,
4%
Various,
5%
Los Angeles,
5%
San Francisco,
6%
61
Phoenix,
3%
Denver,
8%
Portland,
2%
Maui,
3%
Houston,
8%
San Diego,
2%
Chicago,
9%
New York,
23%
Miami,
9%
Performance and portfolio characteristics as of June 30, 2020, unless otherwise noted. Past performance is not indicative of future results. There is no assurance distributions will continue at
historical rates or at all.
Boston,
12%
Please refer to endnotes on pages 65-66 for detailed information regarding the methodology used to calculate the performance information in this table. Please refer to page 67 for a Summary of
Vehicle Definitions.
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