| Most recent Comments - Ares Management LLC | ||
|---|---|---|
| Date | Deal | Comment |
| 10/07/2014 | PRP Real Estate Investors | 24-Mar-14 - Passed on office portfolio, still interested in multifamily - Investment team was not optimistic on the locations. On the multifamily front, they feel the existing assets have mostly undergone their value-add strategies, and are more core/core+ opportunities. They would be interested in looking at future deals with PRP. They don\'t do programatic ventures, but do a lot of deals with the same operators. On the multifamily front, they have money for development deals, and for value-add deals. For development deals they have capital looking for deals, but wait for all entitlements to be in-place prior to closing as they are IRR driven. For the value-add deals they are in the fundraising phase, and have their next fund closing around May, and would want to follow up afterwards once they know their appetite. On the apartment side, they currently have 5-8 deals going on comprising 1,000 units each, and have 20,000 units of value-add deals in their portfolio. -- duke |
| 10/07/2014 | PRP Real Estate Investors | 18-Mar-14 - He has presented the office and multifamily portfolio recaps to the investment guys. He is more interested now that there is an ability to recap specific deals. His gut is that they will likely not get there on the 2501 M Street asset as they tend to avoid acquiring vacant buildings. Regarding other markets, they tend to stick to the primary markets, so LA and Charlotte may still be in play. He should hear feedback from their investment committee within the next couple of days on the MF and Office portfolios, and will get back to us. He mentioned they have a debt group as well that specializes in transitional lending (~3yr loans with takeout funding upon stabilization). -- duke |
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