Ares bulks up South Florida industrial holdings with $56M Broward buy

Ares Management added a Broward warehouse to its South Florida industrial portfolio. An affiliate of Los Angeles-based Ares, led by Michael Arougheti, paid $56 million for Meridian at Weston, a 230,976-square-foot warehouse at 3425 Meridian Parkway in Weston, records and real estate database Vizzda show.  The buyer paid roughly $242 a square foot for the facility. Ares’ purchase was also $23 million above the previous sale price six years ago. The seller, an affiliate of Boston-based Cabot Properties, paid $33 million for the 15.9-acre site in 2019, records show. The building was completed in 1995.  Ares is among the most […]This article originally appeared on The Real Deal. Click here to read the full story.