You Must First Receive a Copy of the Prospectus - AIREIT

This website is neither an offer to sell nor a solicitation of an offer to buy the securities described in the Ares Industrial Real Estate Income Trust Inc. (AIREIT) prospectus. Offerings are made only by means of a prospectus, which should be read in order to fully understand all of the implications and risks associated with an offering.

Please acknowledge that you have received a copy of the AIREIT prospectus prior to entering our website. If you have not yet received a copy, please use the following link to access a copy of the AIREIT prospectus:

View Ares Industrial Real Estate Income Trust Prospectus

Each person investing through an employee pension benefit plan subject to the Employee Retirement Income Security Act of 1974, such as a profit sharing, section 401(k) or pension plan, or any other retirement plan or account subject to Section 4975 of the Internal Revenue Code of 1986, as amended, such as an IRA, or any entity that includes such assets, which we refer to collectively as the “Benefit Plans,” should only view these materials in consultation with a qualified independent fiduciary, such as an independent financial advisor. Ares Industrial Real Estate Income Trust Inc., its advisor, its dealer manager and their affiliates have financial interests associated with an investment as outlined in the prospectus. These materials do not constitute a recommendation to invest, and should not be construed as investment advice. If you are a person investing through a Benefit Plan, you must agree that you will only view these materials in consultation with your independent financial advisor or other qualified independent fiduciary.

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Investment Solutions

Ares Industrial Real Estate Income Trust

Distribution Warehouses: Investing in the Power of E-Commerce and Logistics

Product Overview Performance Investment Strategy Literature & Forms Properties Corporate Governance Regulatory Filings Tax Information¹ Request Information

Class I Share

(ZAIRIX)

$15.03¹ NAV per share and Transaction Price For subscriptions accepted as of April 3, 2023 (and repurchased as of March 31, 2023) More Information

Class T Share

(ZAIRTX)

$15.03¹ NAV per share and Transaction Price For subscriptions accepted as of April 3, 2023 (and repurchased as of March 31, 2023) More Information

Class D Share

(ZAIRDX)

$15.03¹ NAV per share and Transaction Price For subscriptions accepted as of April 3, 2023 (and repurchased as of March 31, 2023) More Information

Introduction

Ares Industrial REIT is a pure-play industrial real estate solution that seeks to deliver capital appreciation and consistent monthly income² by investing primarily in institutional-quality bulk distribution, light industrial and last-mile distribution facilities.

Investment Structure

Offering Type: Continuous offering	NAV Frequency: Monthly
Purchases: Monthly	Shareholder Distributions: Monthly²
Liquidity: Monthly³	Tax Reporting 1099-DIV

Investment Objectives²

Capital Appreciation: Realizing capital appreciation from active investment management and asset management
Current Income: Providing current income to stockholders in the form of regular cash distributions²
Capital Preservation: Preserving and protecting stockholders’ capital contributions²

PORTFOLIO AT-A-GLANCE

As of December 31, 2022

$9.1B Total Asset Value ⁴

243 Buildings ⁵

29 Geographic Markets ⁵

50.2M NET RENTABLE SQ FT ⁵

99.1% LEASED ⁶

418 TENANTS ⁵

PROPERTIES AT-A-GLANCE^5,7

As of December 31, 2022

Targeting High Barrier-to-Entry Locations Near Major Distribution Hubs and Dense Populations

Share Class Overview

As of February 28, 2023

Class I Share

(ZAIRIX)
Class T Share

(ZAIRTX)
Class D Share

(ZAIRDX)

$15.03¹

NAV per share and Transaction Price

For subscriptions accepted as of April 3, 2023 (and repurchased as of March 31, 2023)

3.63% Annualized Distribution Rate^2,⁸

Offering Terms⁹

Availability: Through transactional/brokerage accounts, registered investment advisors and other institutional and fiduciary accounts.

Minimum Initial Investment:¹⁰ $1 million (unless waived)

Share Class Specific Fees:

Up-front Selling Commission: None
Up-front Dealer Manager Fee: None
Annualized Distribution Fee (trailing compensation): None

Advisory Fees:

Asset Management Fee: 1.25% per annum of NAV, payable monthly
Performance Participation Allocation: 12.50% of the annual total return, subject to a 5% hurdle amount, catch-up and loss carryforward
Development Fee: 4.0% of total project cost of a development property

Fact Sheet

$15.03¹

NAV per share and Transaction Price

$15.74¹¹

Offering Price

For subscriptions accepted as of April 3, 2023 (and repurchased as of March 31, 2023)

2.82% Annualized Distribution Rate^2,⁸

2.69% Annualized Distribution Rate with Sales Charge^2,⁸

Offering Terms⁹

Availability: Through transactional / brokerage accounts

Minimum Initial Investment:¹⁰ $2,000 ($2,500 for NY residents, except for IRAs)

Share Class Specific Fees:¹²

Up-front Selling Commission: Up to 2.0% of offering price
Up-front Dealer Manager Fee: Up to 2.5% of offering price
Annualized Distribution Fee (trailing compensation): 0.85% of NAV per share

Advisory Fees:

Asset Management Fee: 1.25% per annum of NAV, payable monthly
Performance Participation Allocation: 12.50% of the annual total return, subject to a 5% hurdle amount, catch-up and loss carryforward
Development Fee: 4.0% of total project cost of a development property

Fact Sheet

$15.03¹

NAV per share and Transaction Price

For subscriptions accepted as of April 3, 2023 (and repurchased as of March 31, 2023)

3.39% Annualized Distribution Rate^2,⁸

Offering Terms⁹

Availability: Through fee-based (wrap) programs, transactional/brokerage accounts, registered investment advisers and other institutional and fiduciary accounts

Minimum Initial Investment:¹⁰ $2,000 ($2,500 for NY residents, except for IRAs)

Share Class Specific Fees:¹³

Up-front Selling Commission: None
Up-front Dealer Manager Fee: None
Annualized Distribution Fee (trailing compensation): 0.25% of NAV per share

Advisory Fees:

Asset Management Fee: 1.25% per annum of NAV, payable monthly
Performance Participation Allocation: 12.50% of the annual total return, subject to a 5% hurdle amount, catch-up and loss carryforward
Development Fee: 4.0% of total project cost of a development property

Fact Sheet

Performance

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Properties

Explore the range of assets in our portfolio.

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Investment Strategy

Target investment profile, criteria and process

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Featured Properties

View All Properties

Legacy Logistics Center

Industrial

View Property

I-80 Distribution Center (4 buildings)

Industrial

View Property

Las Vegas Light Industrial Portfolio (4 buildings)

Industrial

View Property

Industrial Track Record

Ares has extensive experience within the industrial property sector of commercial real estate. We have sponsored and managed numerous industrial-focused investment vehicles that cater to the global logistics network, manufacturing supply chain and e-commerce revolution.

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Financial professionals may access more information on our suite of solutions and educational resources here. If you are an individual investor, please contact your financial professional.

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¹NAV is calculated in accordance with valuation procedures adopted by AIREIT’s board and is not subject to accounting principles generally accepted in the United States (“GAAP”). NAV will likely differ from the GAAP value of our equity reflected in our financial statements. As of September 30, 2022, our total equity under GAAP, excluding third party JV interests, if any, was approximately $2,623,916,000 and our GAAP total equity per share/unit was approximately $8.29. GAAP total equity per share/unit is presented on a “blended” share class/unit basis and is calculated as total equity divided by the aggregate number of outstanding shares issued by AIREIT and units issued by AIREIT Operating Partnership LP. Please click here for a reconciliation of our GAAP total equity, excluding third party JV interests, if any, to our NAV. Investors should review this information prior to making an investment decision.

²There can be no assurances that AIREIT will attain its investment objectives. The amount of distributions AIREIT may make is uncertain, is not guaranteed, may be modified at the program’s discretion, and is subject to board approval. Substantial fees and expenses will be paid to AIREIT’s advisor, dealer manager and other affiliates of AIREIT’s sponsor for services they provide to AIREIT in connection with the offering and the operation of AIREIT’s business and the acquisition, management and disposition of AIREIT’s investments. Distributions may be paid from sources other than cash flow from operations. Distributions to stockholders may represent a return of capital. For the six months ended June 30, 2022, approximately 52.2% of our total gross distributions were paid from cash flows from operating activities, as determined in accordance with generally accepted accounting principles (GAAP), and 47.8% of our total gross distributions were funded from sources other than cash flows from operating activities, as determined on a GAAP basis; specifically, with proceeds from shares issued pursuant to our distribution reinvestment plan.

³The terms of AIREIT’s share redemption program (“SRP”) are presented for informational purposes and qualified in their entirety by the more detailed information set forth in the AIREIT prospectus. Generally, shares that are redeemed but were held for less than one year will be redeemed at 95% of NAV. AIREIT’s board of directors reserves the right to reject any request for redemption for any reason, or to modify or suspend the SRP at any time. Investors should not assume that their shares will be redeemed by AIREIT pursuant to the SRP.

⁴Total asset value is calculated as fair value of AIREIT’s real estate investments, fair value of AIREIT’s net investment in an unconsolidated joint venture partnership, plus cash and cash equivalents.

⁵Represents portfolio information for our wholly owned properties.

⁶Percent leased represents AIREIT’s operating portfolio, which includes properties that are more than 90% leased or have been owned for more than a year.

⁷Southern California market consists of Inland Empire and Los Angeles markets.

⁸Annualized distribution rate is based on the gross monthly distribution rate. The actual net annualized distribution rate for a particular stockholder will vary based on the NAV and the actual amount of distribution fees payable, as applicable, at any point in time.

⁹Terms summarized are for informational purposes and qualified in their entirety by the more detailed information set forth in the AIREIT prospectus. See prospectus for complete descriptions of these and other fees and expense reimbursements payable to AIREIT’s advisor and its affiliates. Certain financial professionals may have different suitability standards and may not offer all share classes.

¹⁰Minimum initial investment may vary by state and/or broker dealer.

¹¹The public offering price of Class T Shares in the primary offering is equal to the transaction price plus upfront selling commissions and dealer manager fees.

¹²The amount of selling commissions and dealer manager fees paid to certain broker dealers may vary, provided that the sum will not exceed 4.5% of the public offering price. The distribution fees are subject to a cap as described in the prospectus, and these expenses are allocated to all Class T Shares and reduce the distributions otherwise payable to all Class T stockholders.

¹³The distribution fees are subject to a cap as described in the prospectus. These expenses are allocated to all Class D Shares and reduce the distributions otherwise payable to all Class D stockholders.

Any properties shown are owned by AIREIT.

Please read the applicable Ares REIT or Fund Prospectus prior to making any investment decision and consider carefully the REIT’s or Fund’s investment objective, risks, charges, expenses and other important information described therein. A copy of our REIT and Fund Prospectuses, which contain this and other information about the REIT or Fund, must be made available to you in connection with any offering of the Shares. Click here to view the REIT and Fund Prospectuses. The REIT and Fund’s Prospectuses are not an offer to sell Shares and are not soliciting an offer to buy their Shares in any state where the offer or sale is not permitted.

Investments in the Ares Private Markets Fund or Ares REITs are not suitable for all investors. Investing in shares of the Fund or REITs involves a high degree of risk, including the risk that payment of distributions is uncertain and cannot be guaranteed, the risk that an investment is not liquid, and the risk that stockholders may lose the entire amount of their investment. Please review the Summary Risk Factors and the Prospectus for a complete list of the risks associated with Ares Fund and REIT investments.

No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the SEC nor any other state securities regulator has approved or disapproved of the securities described in the prospectus or determined if the prospectus is truthful or complete. In addition, the Attorney General of the state of New York has not passed on or endorsed the merits of the offering. Any representation to the contrary is unlawful. Fund and REIT shares will be offered to the public through Ares Wealth Management Solutions, LLC, member FINRA and SIPC, which will act as the dealer manager, and through other members of the Financial Industry Regulatory Authority (FINRA) or with the assistance of registered investment advisors. Unless noted otherwise, all properties shown are owned by AREIT.

Check this firm’s Form CRS Customer Relationship Summary.

Check the background of this firm on FINRA’s Broker Check.

Our prospectuses are provided in Adobe PDF format. The Adobe Reader software can be downloaded here.

NOT A DEPOSIT • NOT FDIC INSURED • NOT GUARANTEED BY THE BANK • MAY LOSE VALUE • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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You Must First Receive a Copy of the Prospectus - AIREIT

Ares Industrial Real Estate Income Trust

Introduction

Investment Structure

Investment Objectives2

PORTFOLIO AT-A-GLANCE

PROPERTIES AT-A-GLANCE5,7

Share Class Overview

Offering Terms9

Offering Terms9

Offering Terms9

Performance

Properties

Investment Strategy

Featured Properties

Legacy Logistics Center

Industrial

I-80 Distribution Center (4 buildings)

Industrial

Las Vegas Light Industrial Portfolio (4 buildings)

Industrial

Industrial Track Record

Request Information

Are You A Resident of Ohio?

Are You A Resident Of New Jersey?

Are You A Resident Of New Jersey or Ohio?

Are You A Resident Of Washington?

Investment Objectives²

PROPERTIES AT-A-GLANCE^5,7

Offering Terms⁹

Offering Terms⁹

Offering Terms⁹