Ares Industrial Real Estate Income Trust Inc. filed a Current Report on Form 8-K on August 31, 2026, disclosing the appointment of a new independent valuation advisor and providing an update on its financial position and portfolio activities.
The Company announced that its board of directors, including a majority of independent directors, has engaged Altus Group U.S. Inc. to serve as the independent valuation advisor. Altus Group will assist in administering the valuation and review process for the real properties in the portfolio, providing monthly appraisals, reviewing annual third-party appraisals, and assisting in the development of valuation procedures.
Regarding financial metrics, the Company reported an Aggregate Fund Net Asset Value (NAV) of $5,097,562 as of August 31, 2026. The NAV per Fund Interest was $13.3703 for all share classes. The Company’s leverage ratio was approximately 40% as of the same date.
In terms of portfolio details, Ares Industrial Real Estate directly owned and managed a portfolio of 262 industrial buildings totaling approximately 53 million square feet across 31 U.S. markets, with an occupancy rate of 89%.
The Company also disclosed a strategic partnership with the Public Sector Pension Investment Board (PSP Investments). On August 31, 2026, the Company established a joint venture to invest up to approximately $2.4 billion in logistics real estate opportunities in the United States. Ares Industrial Real Estate holds a 51% interest in the joint venture, while PSP Investments holds the remaining 49%. The joint venture includes a seed portfolio contributed by the Company consisting of approximately 5 million square feet across 14 properties in key logistics markets.
Additionally, the Company amended and restated its Distribution Reinvestment Plans. Effective September 14, 2026, the amendments require a majority vote of the Board, including a majority of independent directors, to amend, suspend, or terminate the plans. The amendments also prohibit the plans from being amended to eliminate a participant's right to terminate participation.
