Ares Buys Wrightwood Loan Platform
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|In case you missed it late last week, we think it's worth repeating: Ares Management has acquired the investment platform of Wrightwood Capital, bringing about 40 Wrightwood pros onto the Ares Commercial Real Estate investment team, former Wrightwood CEO Bruce Cohen confirmed for us. (Together they will combine forces to create: The CRE Avengers!)|
|Wrightwood will continue to keep its Chicago assets, but will be managed by Ares. Bruce (at his Wrightwood offices) will become a senior partner at ACRE, along with John Bartling. All of Wrightwood’s CRE assets and sponsored funds will be managed by the ACRE team, and Ares will retain Wrightwood's designation as a general and special servicer. Both Ares and Wrightwood are middle-market players. The combined companies give New York-based Ares a bigger presence in Chicago overnight.|