Ares Management and Slate Asset Management have announced that their joint venture will acquire a portfolio of 36 convenience-led retail properties in Poland from Trei Real Estate for over €300 million. The portfolio comprises modern, fully leased retail parks strategically located near major Polish metropolitan areas, featuring CPI-linked leases that protect against inflation and are anchored by strong tenants in essential goods sectors such as grocery and pharmacy retail.
The acquisition expands Ares’ and Slate’s European real estate presence and underscores their conviction in the growth potential of Polish retail and broader European essential real estate markets. The properties, known collectively as Vendo Parks, are expected to provide stable, inflation-hedged income streams and opportunities for long-term value creation. The transaction is anticipated to close by December 31, 2025, pending customary regulatory approvals.
Ares Real Estate is one of the world’s most diversified and vertically integrated real estate managers, overseeing more than 720 million square feet and $108.7 billion in assets as of June 30, 2025. Slate, an active European investor since 2016, has transacted on more than 1,000 properties across nine countries and focuses on essential real estate that supports daily life and logistics operations.
KEY QUOTES:
“This transaction underlines our conviction in Polish real estate and the broader European retail sector, both of which are areas in which Ares has been investing for over two decades. We believe the Portfolio presents significant opportunities for additional value creation and we look forward to working closely with Slate to unlock its full potential.”
Kevin Cahill, Partner and Head of European Diversified Investments, Ares Real Estate Group
“This Portfolio of modern, high-quality properties is a natural fit for our income-focused essential real estate strategy, which specifically targets convenience and necessity-based retail and other mission-critical real estate across Europe. After years of studying the Polish market and underwriting essential real estate transactions, this acquisition presented the right opportunity to enter Poland and add a valuable new spoke to our growing Pan-European platform.”
Sven Vollenbruch, Managing Director, Slate Asset Management
“We are big believers in the further growth of retail parks and convenience retail in Poland. With ownership of Trei increasingly focusing on the USA, however, in Ares and Slate we found good and trusted new owners of our beloved Vendo Parks, enabling us to pursue other opportunities in the far west.”
Pepijn Morshuis, Chief Executive Officer, Trei Real Estate
