Ares Management LP (NYSE: ARES) is making another acquisition this time for the Pegasus Business Park in a 83.4 million (U.S. $113.4 million) deal.
Pegasus Business Park is located in Brussels, near the airport and city center. The compound includes nine office buildings and a parking lot, plus 11 plots of undeveloped land. Tenants include Cisco Systems (Nasdaq: CSCO), Regus plc (LON: RGU), Stanley Black & Decker Inc. (NYSE: SWK) and Jonson Controls Inc. (NYSE: JCI).
The Pegasus Business Park is being sold by Segro plc, a real estate investment trust based in the U.K. Segro developed the land between 1999 and 2003.
For Ares, which went public in May, the news comes after a few other acquisition announcements. On July 3, the firm announced that it was buying a majority stake in London real estate developer London Square for about $189 million.
Before that, in June, Ares bought affiliated commercial finance commercial Keltic Financial Services LLC and Keltic Financial Partners II LP.
For more on deals in Europe, see "Transatlantic Transactions."