Ares Management has expanded its industrial real estate holdings in South Florida with the purchase of a warehouse in Broward County. The Los Angeles-based investment firm, led by Michael Arougheti, acquired Meridian at Weston for $56 million. The property is a 230,976-square-foot warehouse located at 3425 Meridian Parkway in Weston.
The purchase price equates to about $242 per square foot and represents a $23 million increase over the previous sale price from six years ago. The seller, an affiliate of Cabot Properties based in Boston, bought the 15.9-acre site for $33 million in 2019. The building was originally completed in 1995.
Ares Management has been active in acquiring industrial properties across South Florida. In May, an Ares-affiliated trust purchased the former Miami Herald headquarters site in Doral for $25.9 million. That property had previously been slated by Panattoni Development for redevelopment into two warehouses before those plans were abandoned; Ares acquired it for $4 million less than Panattoni paid last year.
In October, Ares spent $147 million on Midway Miami Park, a complex consisting of four warehouses in Miami Lakes. This transaction ranked as the fourth largest industrial deal in South Florida during 2024.
Beyond industrial acquisitions, Ares is also involved as a partner with Jorge Mas and David Beckham on Miami Freedom Park—a major mixed-use development centered around a new stadium for Inter Miami Major League Soccer team. In April, this partnership secured a $450 million construction loan for the stadium project, which is nearing completion.
Additionally this year, Ares joined Monarch Alternative Capital to provide a $413 million loan supporting One Twenty Brickell Residences—a planned two-tower condominium project with 803 units developed by PMG.
