Ares Industrial Real Estate Updates NAV, Engages Valuation Advisor, and Modifies Suitability Standards

Ares Industrial Real Estate Income Trust Inc. filed a Current Report on Form 8-K on October 31, 2026, providing an update on its net asset value (NAV), portfolio assets, and valuation procedures. The filing details the company's financial position as of October 31, 2026, and outlines recent capital activities and changes to investor suitability standards.

The company reported an Aggregate Fund NAV of $5.312 billion as of October 31, 2026, a decrease from $5.102 billion as of September 30, 2026. This decline was attributed to a decrease in investments in real estate debt and securities and a rise in financing obligations associated with the DST Program. The NAV per Fund Interest remained consistent across all share classes at $13.4088 for the month of October.

In a significant administrative update, the company’s board of directors approved the engagement of Altus Group U.S. Inc. as the Independent Valuation Advisor. Altus Group will oversee the valuation and review process for the real properties in the portfolio, provide monthly appraisals, and review internal valuations of loans and debt-related assets.

Regarding portfolio performance, Ares Industrial Real Estate directly owned and managed a portfolio of 270 industrial buildings totaling approximately 54 million square feet across 31 U.S. markets as of October 31, 2026. The portfolio was 90% occupied. The company’s leverage ratio was approximately 40% as of that date.

Capital activity during October included raising gross proceeds of approximately $47 million. The company issued 16 million operating partnership units in exchange for DST Interests for a net investment of $211 million. Additionally, the company authorized a monthly gross distribution of $0.0550 per share for October 2026, which was paid to stockholders of record as of October 30, 2026.

The filing also disclosed an update to the suitability standards for Class T-R, Class D-R, and Class I-R stockholders participating in the distribution reinvestment plan. Specifically, the standard for Missouri investors was updated to require a minimum net worth of $350,000 or a minimum annual gross income of $100,000 combined with a net worth of $100,000. The investor’s investment in the company may not exceed 10% of their liquid net worth.