Joshua J. Widoff - Feb 1, 2023 Form 4 Insider Report for ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. (NONE)

Role
Partner, GC and Secretary
Signature
/s/ Andrew Ko, Attorney-in-Fact
Stock symbol
NONE
Transactions as of
Feb 1, 2023
Transactions value $
$0
Form type
4
Date filed
2/2/2023, 04:27 PM

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 NONE Class I Operating Partnership Units Other $0 +138K $0.00 138K Feb 1, 2023 Class I Common Stock 138K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class I Operating Partnership Units ("Class I OP Units") were acquired by the reporting person on February 1, 2023 as consideration for the redemption of the reporting person's interest in a limited partnership. No cash consideration was paid. Beginning on January 1, 2024, the reporting person may request that AIREIT Operating Partnership LP, a subsidiary of the Issuer, redeem all or a portion of the Class I OP Units for cash, unless the Issuer's board of directors determines that the redemption of the Class I OP Units 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 OP Units will be redeemed for shares of the Issuer's Class I common stock, subject to any limitations on redemption in the OP agreement. Any such redemption of Class I OP Units will be priced at the then-current NAV of such Class I OP Units.
F2 There is no expiration date for the reporting person's ability to request redemption of the Class I OP Units.

Remarks:

Exhibit 24 - Power of Attorney.