Home Alts News Ares Industrial REIT and Ares REIT Announce All Redemptions Have Been Satisfied

Ares Industrial REIT and Ares REIT Announce All Redemptions Have Been Satisfied

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In light of Starwood and Blackstone REITs limiting redemptions, Ares Industrial Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust managed by Ares Management Corporation (NYSE: ARES) and formerly known as Black Creek Industrial REIT IV Inc., and Ares Real Estate Income Trust Inc., a publicly registered NAV-based perpetual life real estate investment trust formerly known as Black Creek Diversified Property Fund, made a filing with the SEC that announced they “fully satisfied all stockholder redemption requests in October and November.”

The company noted that it “continued to experience positive net inflows in October and November from its capital raising efforts.”

Ares Industrial REIT recently updated its monthly NAV per share to show that Class T, Class D and Class I shares were valued at approximately $15.37 per share as of October 2022.

Ares REIT also updated its monthly NAV per share announcing that each class of stock was valued at $8.893 per share as of October 2022, compared to $8.887 the previous month.

Ares Industrial Real Estate Income Trust launched its initial public offering in July 2017 and as of Oct. 31, 2022, the company has raised a total of nearly $3.6 billion in multiple offerings, including its current $5 billion offering, which was declared effective in August 2021 and has raised approximately $1.3 billion as of Oct. 31, 2022. The REIT’s real estate portfolio is comprised of 241 industrial buildings totaling approximately 49.8 million square feet. The portfolio was 98.3% occupied (98.7% leased) with a weighted-average remaining lease term of 4.4 years. As of Oct. 31, 2022, the REIT’s leverage ratio was approximately 30.1%.

Ares Real Estate Income Trust launched in January 2006 and has raised more than $3 billion in multiple offerings. As of Sept. 30, 2022, the REIT owned a portfolio of 89 real estate properties totaling approximately 18.5 million square feet that were 95.7% leased and had a leverage ratio of 31.7%.

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