David M. Fazekas - Dec 26, 2024 Form 4 Insider Report for ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. (NONE)

Role: Partner, Co-President, Director
Signature: /s/ Andrew Ko, Attorney-in-Fact
Stock symbol: NONE
Transactions as of: Dec 26, 2024
Transactions value $: $0
Form type: 4
Date filed: 12/30/2024, 03:09 PM
Previous filing: Feb 17, 2023

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-R Operating Partnership Units	Other		-736K	-100%		0	Dec 26, 2024	Class I-R Common Stock	736K		Direct	F1, F2
transaction	NONE	Class I-R Operating Partnership Units	Other		+736K			736K	Dec 26, 2024	Class I-R Common Stock	736K		By LLC	F1, F2

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

Explanation of Responses:

Id	Content
F1	Each Class I-R Operating Partnership Unit (formerly designated as Class I Operating Partnership Units) (the "Class I-R OP Units") in AIREIT Operating Partnership LP (the "OP"), a subsidiary of the Issuer, is redeemable by the holder for cash or, if the Issuer's board of directors determines that the redemption of the Class I-R OP Units for cash would be prohibited by applicable law, the Issuer's charter or the OP's limited partnership agreement (the "OP Agreement"), for shares of the Issuer's Class I-R common stock (formerly designated as Class I 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 holder's ability to request redemption of the Class I-R OP Units.
F2	On December 26, 2024, the reporting person transferred and assigned all of the Class I-R OP Units directly held by the reporting person to a limited liability company in which the reporting person is a member. As a result of the transfer and assignment, the reporting person no longer directly owns any Class I-R OP Units.

Content

Each Class I-R Operating Partnership Unit (formerly designated as Class I Operating Partnership Units) (the "Class I-R OP Units") in AIREIT Operating Partnership LP (the "OP"), a subsidiary of the Issuer, is redeemable by the holder for cash or, if the Issuer's board of directors determines that the redemption of the Class I-R OP Units for cash would be prohibited by applicable law, the Issuer's charter or the OP's limited partnership agreement (the "OP Agreement"), for shares of the Issuer's Class I-R common stock (formerly designated as Class I 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 holder's ability to request redemption of the Class I-R OP Units.

On December 26, 2024, the reporting person transferred and assigned all of the Class I-R OP Units directly held by the reporting person to a limited liability company in which the reporting person is a member. As a result of the transfer and assignment, the reporting person no longer directly owns any Class I-R OP Units.