Ares Management Funds To Buy Graphite Capital's Stake In London Square

(RTTNews) - London Square, the fast-growing London residential developer and house builder, announced that private equity and real estate funds managed by Ares Management, L.P. (ARES) have entered into definitive agreements to acquire the majority stake in the company from Graphite Capital for an equity value of £110 million.

It is noted that Ares Management's funds, investing alongside management, will also deploy incremental capital to London Square's development in Greater London, with the target of building 1,000 homes a year. The transaction is expected to close by the end of July 2014.

Among the current projects is a development of 40 luxury townhouses in the heart of Fulham as well as the restoration and conversion of the historic Grade II listed Royal Star & Garter Home on Richmond Hill, both being jointly developed with Ares. In 2013, its Wimbledon development won the Best Family Home award at The Evening Standard New Homes Awards.