Ares US Real Estate Opportunity Fund III, L.P Market and Portfolio Update
Las Vegas Industrial
Development of 1.1MM SF of bulk distribution industrial product in an infill Las Vegas submarket
Investment Summary and Rationale
Investment in the development of 1.1MM SF of bulk
distribution/warehouse space along the 1-15 Freeway
Investment Date:
Location:
Sector:
Size:
Investment Theme:
Key Metrics
February 2020
Las Vegas, NV
Industrial
1.1MM SF
Industrial development in
strong MSA
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Value Drivers
Strong Las Vegas market benefiting from in-migration driven by
unaffordability and space constraints facing the Inland Empire
Complex land assemblage and preferred basis
Construction risk mitigation
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Two add-on investments comprising an additional 572K SF in process,
with one closed and the other expected to close in Q2 2021
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Aim to capitalize on robust supply/demand fundamentals both in the
local market and across the southwestern region of the United States
Investment Status
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Lease executed with a major ecommerce company for 78% of space and
an additional 13% leased to a Fortune 500 packaging company
Construction commenced in Q4 2020 with expected completion in Q3
2021
As of December 31, 2020 unless otherwise noted. Please refer to the notes on page 9. This case study represents the first industrial transaction in AREOF III and the largest
transaction made by the fund to date in the West region of the U.S. Investments shown are for illustrative purposes only and are not representative of all fund investments
made by AREOF III. There can be no assurance that AREOF III will achieve its investment objectives. Forward looking statements are not reliable indicators of future events and
no guarantee or assurance is given that such activities will occur as expected or at all.View entire presentation