Ares Industrial Real Estate Income Trust is a non-traded net asset value real estate investment trust formed in August 2014 and sponsored by Ares Management Corporation. The REIT focuses on acquiring and managing high-quality bulk and last-mile distribution warehouses throughout the United States. Operating under an UPREIT structure through its operating partnership, AIREIT holds a diversified portfolio of industrial logistics facilities leased to creditworthy corporate tenants across key distribution markets nationwide. The trust began operations in 2017 and targets income-producing industrial properties that serve e-commerce fulfillment, supply chain logistics, and distribution operations. AIREIT employs a strategy of acquiring stabilized properties alongside select value-add opportunities, emphasizing properties with strong tenant credit profiles and long-term lease structures. The portfolio features predominantly triple-net lease arrangements, transferring operating cost responsibilities to tenants and supporting predictable cash flows. AIREIT's portfolio spans markets throughout the country, with exposure to primary and secondary logistics markets positioned along major transportation corridors and population centers. The trust maintains a diversified tenant base across retail, manufacturing, third-party logistics, and e-commerce sectors. Geographic holdings reflect concentration in markets that benefit from supply chain proximity to major metropolitan areas and transportation infrastructure. The REIT is externally managed by Ares Commercial Real Estate Management LLC, drawing on the resources of Ares Management Corporation's global real estate platform. Ares Management operates a real estate division with experience in industrial logistics acquisitions, asset management, and debt investments across North America. AIREIT supplements its equity strategy with debt and securities investments, including senior loans and mezzanine positions secured by industrial properties. AIREIT offers shares through continuous private offerings to accredited investors and operates a distribution reinvestment program. The trust also facilitates Section 1031 exchange transactions through a Delaware statutory trust program that allows investors to acquire beneficial interests in specific properties. This structure provides capital-raising flexibility while serving investors seeking replacement properties for like-kind exchanges. Leadership oversight comes from Ares Real Estate, with portfolio management directed by professionals within Ares' North America logistics investment group. The trust maintains conservative leverage policies and utilizes third-party valuation advisors to determine monthly net asset value per share, providing transparency for non-traded share pricing.