Ares Management has expanded its industrial real estate holdings in South Florida with the purchase of a large warehouse in Broward County. The Los Angeles-based investment firm, led by Michael Arougheti, acquired Meridian at Weston for $56 million. The property, located at 3425 Meridian Parkway in Weston, consists of 230,976 square feet and was bought at approximately $242 per square foot.
Records indicate that the previous owner, an affiliate of Cabot Properties based in Boston, purchased the 15.9-acre site for $33 million in 2019. The warehouse was originally built in 1995.
Ares has been active in acquiring industrial properties across South Florida. Earlier this year, an Ares-affiliated trust purchased the former Miami Herald headquarters in Doral for $25.9 million. That site had been partially demolished by its previous owner, Panattoni Development from Atlanta, which had planned to redevelop it into two warehouses but did not proceed with construction.
In October, Ares completed another major transaction by acquiring Midway Miami Park—a complex of four warehouses in Miami Lakes—for $147 million. This deal ranked as one of the largest industrial transactions in South Florida during 2024.
Beyond warehousing investments, Ares is also involved in significant development projects throughout the region. The firm is collaborating with Jorge Mas and David Beckham on Miami Freedom Park—a mixed-use project anchored by a new stadium for Inter Miami’s Major League Soccer team—with a reported value of $1 billion and supported by a recent $450 million construction loan as the stadium nears completion.
Additionally this year, Ares joined Monarch Alternative Capital to provide a $413 million loan supporting One Twenty Brickell Residences—a planned condominium development featuring two towers and more than 800 units under PMG’s direction.
“Ares is among the most active institutional investors for South Florida industrial properties.”
