Ares Industrial Real Estate Income Trust Inc.: reports NAV of $13.3993 per share

What happened

• Ares Industrial Real Estate Income Trust Inc. filed a Form 8-K on Oct 15, 2026 reporting an update to its net asset value (NAV), assets and portfolio. The Nov 1, 2026 transaction price for each share class equals that class’s NAV per share as of Sep 30, 2026.
• Aggregate Fund NAV was $5,101,592 as of Sep 30, 2026 (vs. $5,097,562 as of Aug 31, 2026). NAV per Fund Interest was $13.3993 as of Sep 30, 2026 (vs. $13.3703 as of Aug 31, 2026). The company engaged Altus Group U.S. Inc. as its independent valuation advisor for real property valuations.

Key details

• Investments in industrial properties: $9,195,750 as of Sep 30, 2026; total investments: $10,414,228. DST Program Loans: $108,154 as of Sep 30, 2026 (was $91,452 on Aug 31, 2026).
• Portfolio: 270 industrial buildings totaling approximately 54,000,000 square feet, 90% occupied and 91% leased as of Sep 30, 2026. Leverage ratio approximately 40%; weighted-average interest rate on consolidated borrowings 4.43%.
• Quarter ended Sep 30, 2026: raised gross proceeds of approximately $408,000,000, including $64,000,000 of DST Interests financed by DST Program Loans; redeemed aggregate requested redemptions of $76,000,000 for Jul, Aug and Sep. Acquired 8 industrial buildings for a contractual purchase price of $222,000,000 in the three months ended Sep 30, 2026.
• Valuation assumptions used by the independent valuation advisor: weighted-average exit capitalization rate 5.7%, discount rate/internal rate of return 7.3%, average holding period 10.1 years. A 0.25% decrease in exit cap rate would increase real property fair value by about 3.0%; a 0.25% increase would decrease it by about 2.8%.

Why it may matter

• Item reported: Item 8.01 (Other events) — the filing provides the company’s NAV calculation, the Nov 1, 2026 transaction price policy (transaction price = NAV as of Sep 30, 2026), valuation procedures and portfolio and financing metrics as of Sep 30, 2026.
• The filing also discloses distribution information (monthly gross distribution of $0.0550 per share for Sep 2026) and that the NAV does not deduct estimated future distribution fees or apply discounts for illiquidity. The filing includes forward-looking statement cautions and the consent of Altus Group U.S. Inc. The filing does not explain why the company acted or why the insider traded.