Apollo Real Estate Advisors is changing its name to AREA Property Partners effective from mid January next year. The company said the new name 'formalises the firm's independence and marks a new chapter in its history'.
Apollo Real Estate Advisors is changing its name to AREA Property Partners effective from mid January next year. The company said the new name 'formalises the firm's independence and marks a new chapter in its history'.
William Mack and Leon Black founded AREA Property Partners (AREA) 15 years ago as an independent real estate fund manager, with separate funds and professional staff. The firm was affiliated with Apollo Global Management, LLC until 2000.
AREA said that the name change will have no effect on its management, financial resources, investing focus or business operations. AREA will continue to be located at its global headquarters in New York City, with its European headquarters based in London's Knightsbridge and a further five offices across the US, Europe and India. The Pan-European operations of AREA, headed by William Benjamin, will continue to be managed by its principals, who include John Robertson, Mike Pashley, John Ruane, Wilson Lamont, Andrea Orlandi and debt specialist, David Ferguson.
AREA currently has investments under management in North America, France, India, Poland, Romania, Spain, Switzerland, Russia, Ukraine, Italy, Turkey and the UK and their most recent dedicated European fund was closed in March 2008 at a total of approximately $1.4 bn (EUR 1 bn).
'We are celebrating our milestone 15th year at AREA and the progress we have made in Europe and India since the establishment of the European headquarters in 2000,' said William Benjamin, managing partner of AREA's European activities. 'The current market is creating numerous interesting opportunities throughout Western and Central Europe and the next couple of years will be challenging and should be fruitful.'
