Who Owns Ares Industrial Real Estate Income Trust (AIREIT)?
Ares Industrial Real Estate Income Trust (AIREIT) is a non-traded, perpetual-life real estate investment trust sponsored and advised by Ares Management Corporation (NYSE: ARES), headquartered in Los Angeles, California. Formed in 2014 and previously known as Black Creek Industrial REIT IV, the fund invests in distribution warehouses and other industrial properties leased to corporate tenants across the United States. As of May 31, 2026, AIREIT reported aggregate net asset value of approximately $5.1 billion.
Ares Industrial Real Estate Income Trust (AIREIT) Timeline
Who Owns Ares Industrial Real Estate Income Trust (AIREIT)?
- Parent Company: Ares Management Corporation
- Ownership Type: Brand division
- Acquisition Year: 2021
- Company Type: Publicly Traded
- Stock Ticker: NYSE: ARES
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Ares Industrial Real Estate Income Trust (AIREIT) | Ares Management Corporation | Brand division |
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History of Ares Industrial Real Estate Income Trust (AIREIT)
- Founded: 2014
- Founders: Black Creek Group (original sponsor); Ares Management (current sponsor)
- Acquired by Ares Management Corporation: 2021
The fund was formed on August 12, 2014, as a Maryland corporation sponsored by Black Creek Group, the Denver-based real estate investment firm co-founded by Evan Zucker in 1993. Its original purpose was narrow: acquire high-quality distribution warehouses and industrial properties leased to creditworthy tenants, riding the e-commerce tailwind reshaping US logistics.
Through the late 2010s, the fund raised capital through a continuous public offering of non-traded shares, building a portfolio of industrial assets across major US distribution markets. The industrial focus proved prescient as warehouse demand outperformed offices and retail through the 2020s.
The July 2021 Ares acquisition of Black Creek's US advisory business transferred sponsorship to Ares Management. The fund was renamed Ares Industrial Real Estate Income Trust in February 2022, with Class W shares re-designated as Class D shares. In August 2024, the REIT added a private offering of Class S-PR, D-PR, and I-PR shares for accredited investors alongside its registered offering.
Under Ares, the fund has grown steadily. Aggregate NAV reached approximately $5.1 billion by May 31, 2026, with NAV per Fund Interest of $13.2898, well above the original $10.00 offering price from its early years. Leadership transitioned as Black Creek-era executives departed; Evan Zucker left after completing the transition of the business he co-founded.
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About Ares Management Corporation
What does Ares Management own?
Ares manages investment funds rather than owning operating companies. Its vehicles hold loans, real estate, infrastructure assets, and private equity positions across thousands of investments. It sponsors non-traded funds including AREIT and AIREIT.
Is Ares Management publicly traded?
Yes. Ares Management Corporation trades on the New York Stock Exchange under the ticker ARES. The company went public in May 2014.
Who founded Ares Management?
Ares was founded in 1997 in Los Angeles by Tony Ressler, Mike Arougheti, David Kaplan, John Kissick, and Bennett Rosenthal, a team with roots in Apollo Global Management and Merrill Lynch leveraged finance.
Where is Ares Management headquartered?
The firm is headquartered in Los Angeles, California, and operates more than 60 offices across North America, South America, Europe, Asia-Pacific, and the Middle East.
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How much does Ares Management manage?
Ares reported approximately $690.6 billion in assets under management as of September 30, 2026, with $416.4 billion in fee-paying AUM and $233.9 billion in perpetual capital.
Who owns Ares Management?
Ares is a public company owned by institutional and retail shareholders. Co-founders, led by executive chairman Tony Ressler, retain significant stakes, and CEO Mike Arougheti leads day-to-day operations.
What happened to Black Creek Industrial REIT?
Ares acquired Black Creek Group's US real estate advisory and distribution business in July 2021. Black Creek Industrial REIT IV was renamed Ares Industrial Real Estate Income Trust, and Black Creek Diversified Property Fund became Ares Real Estate Income Trust.
- Founded: 1997
- Headquarters: Los Angeles, California, USA
- Company Type: Publicly Traded
- Stock: NYSE: ARES
- Revenue: Management and related fees on $690.6 billion AUM (Q3 2026)
- Employees: approximately 4,400
Where Is Ares Industrial Real Estate Income Trust (AIREIT) Made / Based?
- Headquarters: Denver, Colorado, USA
Ares Industrial Real Estate Income Trust (AIREIT) Categories & Tags
Ares Industrial Real Estate Income Trust (AIREIT) Recalls & Controversies
The fund carries the standard scrutiny applied to non-traded REITs: investor law firms have investigated legacy share pricing, fees, and liquidity terms from the Black Creek era, as they have across the category. The successive renamings can confuse shareholders tracing interests purchased under earlier names. No adverse regulatory finding specific to AIREIT has been publicly resolved as of late 2026.
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Brands Owned by Ares Management Corporation
Ares Industrial Real Estate Income Trust (AIREIT) Ownership: Pros & Cons
Advantages
- +Pure-play industrial exposure backed by secular logistics demand
- +Managed within Ares's $690 billion platform with deep real estate capability
- +NAV per share well above original offering price
- +Monthly NAV pricing with disclosed repurchase terms
- +Longer operating history than most non-traded industrial funds
Considerations
- -Single-sector concentration in industrial real estate
- -Monthly liquidity subject to plan caps in stressed markets
- -Successive renamings complicate legacy shareholder records
- -Upfront and ongoing distribution fees reduce net returns
- -Industrial rents face normalization risk as supply delivers
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Frequently Asked Questions About Ares Industrial Real Estate Income Trust (AIREIT)
Sources & Further Reading
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Competitors to Ares Industrial Real Estate Income Trust (AIREIT)
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Ares Management | USA | 2005 | Premium | United states | All Genders | |
| Jpmorgan Chase | USA | 2021 | Premium | United states | All Genders | |
| Starwood Capital Group | USA | 2017 | Premium | United states | All Genders | |
| Prologis | USA | 1983 | Mass market | Global | All Genders |
Learn More About Competitors
Finance FintechAres Real Estate Income Trust (AREIT)
Owned by Ares Management Corporation
Non-traded diversified NAV REIT managed by Ares Management, tracing its lineage to the 2005 Dividend Capital funds and holding roughly $4 billion in net asset value.
reitnon-traded-reitreal-estate
Finance FintechJ.P. Morgan Real Estate Income Trust (JPMREIT)
Owned by JPMorgan Chase & Co.
Non-traded NAV REIT sponsored by J.P. Morgan Asset Management, formed in 2021 to invest in stabilized income-generating real estate for individual investors.
reitnon-traded-reitreal-estate
Finance FintechStarwood Real Estate Income Trust (SREIT)
Owned by Starwood Capital Group
Non-traded perpetual-life NAV REIT sponsored by Starwood Capital Group, formed in 2017 to invest in stabilized income-producing real estate for individual investors.
reitnon-traded-reitreal-estate
Real EstatePrologis
Owned by Prologis, Inc.
The global logistics real estate brand of Prologis, Inc., the world's largest owner of warehouses and distribution facilities.
real-estatereitlogistics
Competitive Analysis
Market Positioning: Ares Industrial Real Estate Income Trust (AIREIT) competes with 4 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Ares Industrial Real Estate Income Trust (AIREIT)
Looking for brands with different ownership structures? These similar brands are not owned by Ares Management Corporation, giving you alternative choices that support different corporate structures.
Finance FintechStarwood Real Estate Income Trust (SREIT)
Owned by Starwood Capital Group
Non-traded perpetual-life NAV REIT sponsored by Starwood Capital Group, formed in 2017 to invest in stabilized income-producing real estate for individual investors.
reitnon-traded-reitreal-estate
Privately Owned
Starwood Real Estate Income Trust (SREIT) is owned by Starwood Capital Group, a private company, a different structure than Ares Industrial Real Estate Income Trust (AIREIT)'s parent.
Finance FintechMastercard
Owned by Mastercard Incorporated
Flagship card brand and payment network of Mastercard Incorporated, the world's second-largest payment network, covering credit, debit, and prepaid cards globally.
credit-cardspayment-networkdebit-cards
Publicly Traded
Mastercard operates independently without a large parent corporation.
Finance FintechJ.P. Morgan Real Estate Income Trust (JPMREIT)
Owned by JPMorgan Chase & Co.
Non-traded NAV REIT sponsored by J.P. Morgan Asset Management, formed in 2021 to invest in stabilized income-generating real estate for individual investors.
reitnon-traded-reitreal-estate
Publicly Traded
J.P. Morgan Real Estate Income Trust (JPMREIT) is owned by JPMorgan Chase & Co., offering a different ownership alternative.
Finance FintechA-Mark
Owned by A-Mark Precious Metals, Inc.
The precious metals trading and minting brand of A-Mark Precious Metals, Inc.
precious-metalsbulliongold
Publicly Traded
A-Mark operates independently without a large parent corporation.
Finance FintechAmeriprise Financial
Owned by Ameriprise Financial, Inc.
Master brand of Ameriprise Financial, Inc., the Minneapolis wealth management and financial services company with $1.7 trillion in assets.
wealth-managementfinancial-advisorsretirement
Publicly Traded
Ameriprise Financial operates independently without a large parent corporation.
Finance FintechBank of America
Owned by Bank of America Corporation
Consumer and commercial banking brand serving roughly 70 million clients through approximately 3,500 financial centers and industry-leading digital banking.
bankingconsumer-bankingretail-bank
Publicly Traded
Bank of America operates independently without a large parent corporation.
Ares Management Corporation Stock Information
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Jobs at Ares Management Corporation
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