Ares Industrial REIT’s NAV Slips 1.7% in January

Ares Industrial Real Estate Income Trust Inc., a monthly net asset value REIT sponsored by Ares Wealth Management Solutions, reported that its total NAV declined in value by more than 1.7% month-over-month as of the close of January.

Its declared monthly NAV per share (inclusive of Class T, Class D, and Class I shares) declined month-over-month by 1.44%, from $13.23 per share as of Dec. 31, 2023, to $13.04 per share as of Jan. 31, 2024.

Ares Industrial REIT’s leverage ratio was approximately 39.7%.

Also as of Jan. 31, 2024, the REIT directly owned and managed a real estate portfolio that included 254 industrial buildings totaling approximately 53.7 million square feet located in 29 markets throughout the United States, with 429 customers, and was 94% leased. In January, it originated one debt-related investment comprised of a senior loan with an aggregate commitment of up to $36.4 million. Additionally, it disposed of two industrial properties for an aggregate gross sales price of $35.1 million.

Ares Industrial REIT raised gross proceeds of approximately $37.8 million, including proceeds from its distribution reinvestment plan and the sale of DST Interests. The aggregate dollar amount of common stock redemptions requested for January, which were redeemed in full on Feb. 1, 2024, was $31.2 million. The company has raised gross proceeds totaling approximately $1.7 billion since its inception.

The company paid its normal monthly gross distribution of $0.05 per share for each share class for the month of January 2024 and were paid to all stockholders of record as of the close of business on Jan. 31, 2024.

Ares Industrial Real Estate Income Trust is an industrial-focused real estate solution that seeks to deliver consistent distributions, capital preservation, and capital appreciation by investing in high-quality bulk and last-mile distribution facilities in key logistics markets across the nation.

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