What is the fine-grained topic of the following text: MILWAUKIE, ORE.– November 7, 2018 – A joint venture between real estate funds managed by Ares Management, L.P. (NYSE: ARES) and an affiliate of Specht Development, Inc. announced today the $48.5 million purchase of an industrial facility located on 62 acres at 6433 SE Lake Road in Milwaukie, Oregon, a submarket of the greater Portland, Oregon area. Only return the topic.
Joint real estate venture purchasing an industrial facility in Milwaukie, Oregon