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Ares Management and Redevco’s Iberian Joint Venture

Friday, 02 February 2018

London, 2 February 2018 – Redevco Iberian Ventures, the joint venture between real estate
funds managed by global alternative asset manager Ares Management, L.P. (NYSE:ARES) and
pan-European retail real estate investment management company Redevco, has acquired more
than 70% of the gross leasable area in the Parque Corredor Shopping Center, one of the largest
retail centers in Madrid. The majority stake was acquired through transactions with Sareb, a fund
advised by Aermont Capital, and various other co-owners of the property for approximately €140
million. With more than 123,000 square metres of retail and leisure area, Parque Corredor is the
main shopping destination in Madrid’s east corridor, known as Corredor del Henares, attracting
more than 10.5 million visitors annually. This acquisition follows Redevco Iberian Venture’s
successful 2017 activity, which included the sale of a portfolio of nine retail parks across Spain for
€193 million in June as well as the acquisition of the Mercado San Miguel in Madrid for €70 million
in July.

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