A joint venture of Ares Management Real Estate Secondaries funds and Cedar Capital Partners has recapitalized a portfolio of five European hotels.
According to the Clifford Chance law firm, which advised Ares both on its entrance into the joint venture and the recapitalization, the portfolio consists of “five leading lifestyle hotels in European gateway cities and will be owned by Cedar Investment Partners III SCSp, a Cedar-managed fund.”
No further information was made available.