Ares Management has closed two real estate funds focused on Europe and the US.
The Ares European Real Estate Fund IV exceeded its original $1bn (€1.3bn) target by $300m.
The fund, which is targeting the residential, retail, office and industrial sectors, is focused on the UK, Germany, and France.
The LA-based fund manager said its US Real Estate Fund VIII attracted $824m in commitments, exceeding its initial $750m target.
Ares will invest in income-producing properties in the multifamily, industrial, retail, hotel and office sectors across the US.
Steven Wolf, senior partner at Ares Real Estate Group, said market fundamentals for value-add real estate were “very strong”.
Ares last year bought a Brussels office park from Segro for €83.4m, shortly after it sold a portfolio of BBVA bank branches in Spain to Merlin Properties for €740m.
The Tree Inversiones portfolio had been owned since 2009 by Ares, Deutsche Bank, Europa Capital and Banca March.
In London, Ares last year invested £110m (€140m) in a majority stake in residential developer London Square.
The stake, gave Ares access to a pipeline of homes under development in the UK capital.
The takeover of AREA Property Partners by Ares in 2013 gave the company further exposure to European real estate.
AREA has invested in London’s St Katharine Docks, as well as in French offices, German mixed-use real estate and Polish retail.
