---
schema_version: "secwatch.filing_event.v1"
accession: "0001327978-25-000016"
form_type: "8-K"
ticker: "ZARE"
cik: "0001327978"
company_name: "Ares Real Estate Income Trust Inc."
filed_at: "2025-04-07T23:59:59+00:00"
generated_at: "2026-05-23T19:30:40.734957+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Ares Real Estate Income Trust sells $10.6M shares, replaces two directors, approves equity plan

## Summary
- Issued 1,394,850 Class I-PR shares for $10.6M in exempt offering on April 1, 2025.
- Directors Rajat Dhanda and Daniel Sullivan resigned April 3, 2025; Andrew Holm and Paula Schaefer appointed.
- Scott Recknor, Head of Asset Management, notified retirement; effective date not yet determined.
- Board adopted Equity Incentive Plan authorizing up to 5.0M shares for awards to directors, officers, and consultants.
- Paula Schaefer appointed as independent director and to audit and nominating committees.

## SEC filing metadata
- accession: 0001327978-25-000016
- form_type: 8-K
- ticker: ZARE
- cik: 0001327978
- company_name: Ares Real Estate Income Trust Inc.
- filed_at: 2025-04-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327978/000132797825000016/0001327978-25-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327978/000132797825000016/are-20250401x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001327978-25-000016
- JSON: https://secwatch.observer/filing/0001327978-25-000016.json
- Plain text: https://secwatch.observer/filing/0001327978-25-000016.txt

## Key facts
- Executive change
  Andrew E. Holm was appointed as Director at Ares Real Estate Income Trust Inc..
  - Action: appointed
  - Role: Director
  source text: the Board appointed Andrew E. Holm and Paula Schaefer to serve as directors, with Ms. Schaefer serving as an independent director, effective as of April 3, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327978/000132797825000016/0001327978-25-000016-index.htm
- Executive change
  Paula Schaefer was appointed as Director at Ares Real Estate Income Trust Inc..
  - Action: appointed
  - Role: Director
  source text: the Board appointed Andrew E. Holm and Paula Schaefer to serve as directors, with Ms. Schaefer serving as an independent director, effective as of April 3, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327978/000132797825000016/0001327978-25-000016-index.htm
- Executive change
  Daniel J. Sullivan resigned as Director at Ares Real Estate Income Trust Inc..
  - Action: resigned
  - Role: Director
  source text: On April 3, 2025, Rajat Dhanda and Daniel J. Sullivan, each a member of the board of directors (the “Board”) of the Company, notified the Company of their decisions to step down from their positions on the Board, which resignations became effective on that day.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327978/000132797825000016/0001327978-25-000016-index.htm
- Executive change
  Rajat Dhanda resigned as Director at Ares Real Estate Income Trust Inc..
  - Action: resigned
  - Role: Director
  source text: On April 3, 2025, Rajat Dhanda and Daniel J. Sullivan, each a member of the board of directors (the “Board”) of the Company, notified the Company of their decisions to step down from their positions on the Board, which resignations became effective on that day.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327978/000132797825000016/0001327978-25-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.