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February 23, 2026
Kirkland Advises Ares on Joint Venture Acquisition of Plymouth Industrial REIT for $2.1 Billion

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- • Kirkland & Ellis advised Ares Alternative Credit funds on a joint venture with Makarora Management LP to acquire Plymouth Industrial REIT, Inc. • The acquisition was an all-cash transaction valued at approximately $2.1 billion. • Plymouth shareholders will receive $22.00 per share in cash as part of the transaction. • Following the acquisition, Plymouth Industrial REIT will no longer be traded or listed on any public securities exchange. • The Kirkland legal team included real estate lawyer Michelle Kelban.
Kirkland & Ellis advised Ares Alternative Credit funds on a joint venture with Makarora Management LP, in which the firms have acquired Plymouth Industrial REIT, Inc. in an all-cash transaction valued at approximately $2.1 billion. Pursuant to the terms of the transaction, Plymouth shareholders will receive cash consideration of $22.00 per share. With the completion of the acquisition, Plymouth will no longer be traded or listed on any public securities exchange. Read the transaction press release The Kirkland team included real estate lawyer Michelle Kelban.
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