In 2015, a joint venture between Ares Management and APF International purchased 18 office buildings with an opportunistic profile; a total of 150,000 m² with over 60,000 m² worth of vacancy.
Most of the buildings were renovated considerably once purchased with a focus on sustainability and comfort (both in terms of installations and aesthetics). Gorgeous newly-built entrances gave rise to a completely new look and feel.
Over 50,000 m² worth of new lease contracts and lease extensions was realised over the past 4 years. A total of 11,000 m² of real-estate was transformed to a hotel and homes. An 11,000 m² building will be demolished and replaced by over 42,000 m² of new construction to house 342 apartments.
The buildings were sold at an added value, in some cases following a period of cash returns. Over the past 4 years, eight buildings were sold through a portfolio structure, nine building were sold individually.
With yet another building (redevelopment) under its management, the objectives of the fund have been exceeded substantially.
Investment management by APF International is characterized by a proactive and committed approach. We combine data and insight of the current market with commercial instinct....
Future-proof real estate, where people like to live, work and meet each other. With that in mind, we (re)develop buildings..
APF regularly initiates real estate funds in which private individuals can participate....