Ares Management, an alternative asset manager, has acquired the investment platform of Wrightwood Capital, a provider of debt capital to the US commercial real estate sector.
As part of this transaction, over 40 Wrightwood professionals have joined the Ares Private Debt Group to focus on middle-market lending in the commercial real estate sector.
Ares Management said the professionals will be part of the Ares Commercial Real Estate (ACRE) investment team, which will be headquartered in Chicago with other offices in Dallas, Los Angeles, New York, Newport Beach, and Washington.
According to Ares Management, ACRE will be led by John Bartling, a senior partner of ACRE and the global head of real estate at Ares Management, and by former Wrightwood CEO Bruce Cohen, who has been appointed as a senior partner of ACRE.
ACRE team will manage all of Wrightwood’s commercial real estate assets and sponsored funds, and benefit from the significant resources and investment expertise of Ares Management.
Bartling said the addition of the Wrightwood investment platform enhances ACRE’s ability to address a significant and growing need for financing solutions in middle-market commercial real estate.
Terms of the transaction were not disclosed.