International law firm Simmons & Simmons has advised Slate Asset Management on the formation of a strategic joint venture with Ares Real Estate funds (“Ares”), affiliates of Ares Management Corporation.
The joint venture will acquire a portfolio of Polish retail parks valued at over €300 million from Trei Real Estate, marking the largest retail park transaction in Poland to date and a significant milestone for both Slate and Ares in the Central European real estate market.
The joint venture between Slate Asset Management and Ares will acquire a portfolio of 36 recently developed and fully occupied convenience-led retail parks across major Polish metropolitan areas. The assets are anchored by leading regional retailers and essential goods providers, including grocers and pharmacies, and are leased under CPI-linked agreements. This transaction marks Slate’s first investment in Poland and further strengthens Ares’ established presence in the region. The deal is expected to close by 31 December 2025, subject to customary and regulatory approvals.
The Simmons team was led by Oliver s’Jacob, supported by Tom Hutchinson and Jenny Diakabana in London and Thibaud Herberigs, Thierry Somma and Raphael Bonhomme in Luxembourg.
Oliver s’Jacob, the firm’s Private Equity Real Estate head and partner at Simmons & Simmons in London, commented: “We are delighted to have advised Slate Asset Management on their inaugural transaction in Poland. Successfully signing this JV within such a particularly compressed timeframe is a testament to the strength and agility of our cross-border team, and we are especially pleased to have worked alongside our new German real estate colleagues, led by Marc Bohne, whose long relationship with Slate and collaboration were instrumental to the deal’s success. We look forward to supporting Slate as they continue to expand their European platform.”
