Ares and PSP create a US logistics-property venture with $2.4 billion capacity

Ares ($ARES) and PSP Investments established a joint venture that can invest up to $2.4 billion in US logistics real estate. The partnership is seeded with 14 properties totaling approximately 5.2 million square feet across California, Texas and New Jersey. The initial portfolio gives the venture an operating base while leaving room for additional acquisitions.

Ares’ Marq Logistics platform will source and manage investments, combining the asset manager’s real-estate capabilities with PSP’s institutional capital. The arrangement is being undertaken through Ares-managed real-estate funds rather than representing a $2.4 billion purchase funded entirely by Ares’ listed parent. The headline amount is investment capacity, not a statement that all capital has already been deployed or that Ares will recognize it as corporate revenue.

Sources:

• Ares — PSP logistics joint venture, Business Wire reprint