Ares Real Estate Income Trust launches student housing JV with Timberline; fully satisfied May redemptions

Ares Real Estate Income Trust Inc.

Entered into Student Housing Investment Arrangement via JV with Timberline Real Estate Ventures to create a Product Specialist.
Company retains sole authority over investment decisions; Specialist paid market-rate fees for sourcing, management, and construction.
Fully satisfied all stockholder redemption requests in May 2023; experienced net inflows through May 31, 2023.
Amended Advisory Agreement and OP Agreement to permit separate fees for Product Specialists without affecting advisor compensation.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ares Real Estate Income Trust Inc. amended Second Amended and Restated Advisory Agreement (2023) with Ares Commercial Real Estate Management LLC valued at Amendment to provide that fees and expense reimbursements paid to Product Specialists are not subjec (effective 2023-06-03).

Action: amendment
Counterparty: Ares Commercial Real Estate Management LLC
Value: Amendment to provide that fees and expense reimbursements paid to Product Specialists are not subjec
Effective: 2023-06-03

Exact text from the filing

On June 3, 2023, the Company, the Operating Partnership and the Advisor amended and restated the 2023 Advisory Agreement by entering into the Second Amended and Restated Advisory Agreement (2023) (the “Amended Advisory Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ares Real Estate Income Trust Inc. amended Twelfth Amended and Restated Limited Partnership Agreement with AREIT Incentive Fee LP valued at Authorizes issuance of profits interests in multiple series via award letters and other immaterial c (effective 2023-06-03).

Action: amendment
Agreement: collaboration
Counterparty: AREIT Incentive Fee LP
Value: Authorizes issuance of profits interests in multiple series via award letters and other immaterial c
Effective: 2023-06-03

Exact text from the filing

On June 3, 2023, we and AREIT Incentive Fee LP, an affiliate of our Advisor, replaced the then-current limited partnership agreement of the Operating Partnership by entering into a Twelfth Amended and Restated Limited Partnership Agreement (the “Amended OP Agreement”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

Ares Real Estate Income Trust Inc. filing history →

Source: SEC EDGAR

accession 0001327978-23-000096

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