Ares Real Estate Income Trust Inc. (OTC: ZARE)

Ares Real Estate Income Trust Inc. is a perpetual life REIT formed as a Maryland corporation. The company focuses on investing in and operating a diverse portfolio of real property and investing in real estate related assets. As of December 31 2025 the consolidated real property portfolio consisted of 143 properties totaling approximately 30.5 million square feet located in 34 markets throughout the United States. The company has elected to be treated as a REIT for U. S. federal income tax purposes since the taxable year ended December 31 2006. It uses an Umbrella Partnership Real Estate Investment Trust structure to hold substantially all of its assets through AREIT Operating Partnership LP a Delaware limited partnership of which it is the sole general partner and a limited partner.

The company generates revenue primarily from lease rental payments received from tenants occupying its properties. It also earns interest income from real estate debt investments and from loans made to purchasers of DST interests under its DST Program. Additionally, the company receives proceeds from the sale of DST interests which contribute to its overall income.

Ares Real Estate Income Trust Inc. operates in the competitive real estate investment sector where it faces rivals such as other REITs, pension funds, insurance companies, investment funds, and developers. The company also competes with other investment programs sponsored by affiliates of its advisor that may have overlapping strategies. Its competitive advantages include access to the Ares Management institutional quality real assets platform a diversified approach across property sectors and geographies and a focus on long term holdings in supply constrained markets. The firm maintains a target leverage ratio between 40 percent and 60 percent and seeks to allocate capital dynamically to achieve outperformance through diversification.

The company's customer base consists of tenants occupying its residential industrial retail office and data center properties. As of December 31 2025 no single tenant accounted for more than 10 percent of total annualized base rent or total leased square feet. The ten largest tenants together contributed 18.2 percent of total annualized base rent and 23.7 percent of total leased square feet.