UK: US investor Ares has acquired a 70 per cent stake in London operator Go Native for an undisclosed sum.
According to a report in Property Week, Ares is understood to have acquired Go Native as a vehicle to support future acquisitions in the serviced apartment and build-to-rent sectors. The move follows its joint acquisition with Capital & Centric of The Place Aparthotel in Manchester for around £30 million in June, which Go Native has been appointed to manage.
Go Native, founded by CEO Guy Nixon, operates 1,750 apartments across 13 developments in London. The company posted a turnover of £17.7 million for the year to 31 December 2015. It is looking to expand its portfolio in the capital to 3,000 apartments within four years. Target locations for new acquisitions include east London, the City and Heathrow.
Go Native has recently moved in to the letting and management of build-to-rent developments.
www.gonative.com
www.aresmgmt.com</p
