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Ares Industrial REIT’s Total NAV Increases 0.78% at February’s Close

Ares Industrial REIT’s Total NAV Increases 0.78% at February’s Close. Ares Wealth Management Solutions, Ares Industrial REIT, real estate investment trust, REIT, alternative investments, NAV, net asset value

Ares Industrial Real Estate Income Trust Inc., a monthly net asset value REIT sponsored by Ares Management Corporation, reported that its total NAV increased in value by 0.78% month-over-month as of the close of February.

Its declared monthly NAV per share (inclusive of Class T, Class D, and Class I shares) transaction price declined month-over-month by 2.07%, from $13.04 per share as of Jan. 31, 2024, to $12.77 per share as of Feb. 29, 2024. The exception was its offering price for Class T NAV per share, which was $13.38 and included sales commissions and fees.

Ares Industrial REIT’s leverage ratio was approximately 40.5%.

As of Feb. 29, 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 424 customers, and was 93.8% leased. In February, it originated one debt-related investment comprised of a senior loan with an aggregate commitment of up to $36.4 million.

Ares Industrial REIT raised gross proceeds of approximately $67.8 million, including proceeds from its distribution reinvestment plan and the sale of Delaware statutory trust interests. The aggregate dollar amount of common stock redemptions requested for January and February, which were redeemed in full on Feb. 1, 2024, and March 1, 2024, respectively, was $76 million.

As of March 1, 2024, the company had raised gross proceeds since inception totaling approximately $1.7 billion from the sale of approximately 127.9 million shares in this offering, including proceeds from its distribution reinvestment plan of approximately $205.7 million. Also, as of March 1, approximately $3.3 billion in shares remained available for sale pursuant to this offering, including approximately $1.0 billion in shares available for sale through our distribution reinvestment plan.

The company paid its normal monthly gross distribution of $0.05 per share for each share class for the month of February 2024 and were paid to all stockholders of record as of the close of business on Feb. 29.

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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