other material
confidence high
sentiment positive
materiality 0.50
ARET NAV per share rises to $7.7262; $251M in acquisitions, portfolio 94.6% leased
Ares Real Estate Income Trust Inc.
- NAV per Fund Interest $7.7262 as of June 30, up from $7.7039 in May; aggregate NAV $2.592B.
- Portfolio: 129 properties, 25.2M sq ft, 94.6% leased; leverage ratio 35.9%, avg interest 4.95%.
- Acquired 5 industrial + 1 residential for $251.3M; sold 1 industrial for $8.3M during quarter.
- Rent growth on commercial leases: +27.4% cash / +42.9% GAAP; industrial +36.7%/+55.5%.
- Raised $257.9M gross proceeds; redemptions $31.7M; monthly distribution $0.03333/share.