Taylor M. Paul - 02 Feb 2026 Form 4 Insider Report for Ares Real Estate Income Trust Inc.

Role: CFO and Treasurer
Signature: /s/ Andrew Ko, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 02 Feb 2026
Net transactions value: $0
Form type: 4
Filing time: 04 Feb 2026, 19:31:59 UTC
Previous filing: 19 Nov 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Paul Taylor M.	CFO and Treasurer	1200 SEVENTEENTH STREET, SUITE 2900, DENVER	/s/ Andrew Ko, Attorney-in-Fact	04 Feb 2026	0002003719

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction		Class I-R Operating Partnership Units	Other	$0	+17,727		$0.000000	17,727	02 Feb 2026	Class I-R Common Stock	17,727		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person acquired the Class I-R Operating Partnership Units ("Class I-R OP Units") on February 2, 2026 as consideration for the redemption of the reporting person's interest in a limited partnership. No cash consideration was paid. Beginning January 1, 2027, the reporting person may request that AREIT Operating Partnership LP, a subsidiary of the Issuer, redeem all or a portion of the Class I-R OP Units for cash, unless the Issuer's board of directors determines that such redemption for cash would be prohibited by applicable law, the Issuer's charter, or the Operating Partnership's limited partnership agreement (the "OP Agreement"), in which case the Class I-R OP Units will be redeemed for shares of the Issuer's Class I-R common stock, subject to any limitations on redemption in the OP agreement. Any such redemption of Class I-R OP Units will be priced at the then-current net asset value of such Class I-R OP Units.
F2	There is no expiration date for the reporting person's ability to request redemption of the Class I-R OP Units.

Content

The reporting person acquired the Class I-R Operating Partnership Units ("Class I-R OP Units") on February 2, 2026 as consideration for the redemption of the reporting person's interest in a limited partnership. No cash consideration was paid. Beginning January 1, 2027, the reporting person may request that AREIT Operating Partnership LP, a subsidiary of the Issuer, redeem all or a portion of the Class I-R OP Units for cash, unless the Issuer's board of directors determines that such redemption for cash would be prohibited by applicable law, the Issuer's charter, or the Operating Partnership's limited partnership agreement (the "OP Agreement"), in which case the Class I-R OP Units will be redeemed for shares of the Issuer's Class I-R common stock, subject to any limitations on redemption in the OP agreement. Any such redemption of Class I-R OP Units will be priced at the then-current net asset value of such Class I-R OP Units.

There is no expiration date for the reporting person's ability to request redemption of the Class I-R OP Units.