King & Wood Mallesons has advised the US fund Ares Management on the establishment of a €500 million joint venture with the Dutch real estate company Redevco for the acquisition of commercial real estate assets in Spain and Portugal.

The joint venture will be seeded with a combination of assets provided by Redevco and Ares Management and will complete its investment commitments in the next few months. Redevco will manage the joint venture company and its assets.

Enrique Isla, Real Estate Partner at King & Wood Mallesons, said: “This deal shows the increasing interest of international investors in operating in the Spanish Real Estate sector through joint ventures with other companies that have deep experience and establishment in the country. In the last few months KWM has provided legal advice to similar joint ventures, in both residential and commercial sector”.

The KWM lawyers that have participated in this work included:

    * Real Estate: Enrique Isla (Partner), Marta Orce (Associate)
    * Corporate: Pablo Díaz (Partner), Victoria Ruenes (Associate)

Ares Management is a leading global alternative assets management company with $88 billion of assets under management, including real estate assets and debt.