Ares Launches Marq To Unify Its Logistics Real Estate Platform
Alternative investment firm Ares Management Corp. is consolidating its logistics real estate platforms across the Americas, Europe and Asia-Pacific under a new brand, Marq Logistics.
Marq Logistics will manage a portfolio of about 2,000 properties totaling more than 600M SF, according to a press release. The move combines Ares’ logistics real estate platforms in North America and Europe, including Ares Industrial Management, with GLP Capital Partners' global logistics real estate platform.
Ares closed in March on its acquisition of Singapore-based GLP’s international business, excluding GLP’s operations in China. The company said the $3.7B deal positioned it to become the world's third-largest industrial landlord, nearly doubling Ares' assets under management to about $96B.
GLP Capital Partners managed 23 funds and a portfolio spanning 320M SF, and it had multiple hyperscale data center projects underway late last year.
Ares Management also bought a South Florida industrial portfolio from Blackstone in March for $120.5M and a 1.6M SF industrial portfolio in the Dallas-Fort Worth market in September.
Ares Real Estate had $110B in assets under management as of Sept. 30.
“Marq represents an exciting next chapter for the Ares Real Estate business, building on our top three global leadership position in one of our highest conviction sectors,” Julie Solomon, co-head of Ares Real Estate, said in a statement.
Amid a string of REIT merger and acquisition activity, Ares Alternative Credit agreed in October to pay $2.1B in cash for Plymouth Industrial REIT, the owner of 226 buildings across 10 markets.
