Ares Management Funds and TruAmerica Multifamily Acquire 240-Unit Apartment Community in Phoenix for $31 Million

Los Angeles and Phoenix (June 13, 2017) – Funds managed by Ares Management, L.P. (NYSE: ARES) and TruAmerica Multifamily announced today the acquisition of Broadstone Gateway, a 240-unit family community in the Phoenix, AZ metro area. The transaction was valued at $30.75 million. Broadstone Gateway is located at 1700 North 103rd Avenue in Avondale, 20…