Ares Real Estate Income Trust Raises $21.14M Through Unregistered Equity Sales, Appoints New Independent Director
Ares Real Estate Income Trust Inc. (ZARE) completed an unregistered sale of equity securities on April 1, 2026, generating gross proceeds of $21,140,808. This capital raise involved the issuance of 2,590,932 shares across Class S-PR and Class I-PR, including activity from its distribution reinvestment plan. Concurrently, the company announced a change to its Board of Directors, with Brian P. Mathis stepping down and Bryan B. Sanchez being appointed as an independent director, effective April 7, 2026. Mr. Sanchez will also serve on the conflicts resolution and nominating and corporate governance committees, strengthening the board's oversight.
Key Highlights
- On April 1, 2026, Ares Real Estate Income Trust Inc. issued 1,020,998 Class S-PR shares, generating gross proceeds of $8,392,942.
- The company also issued 1,569,934 Class I-PR shares, resulting in gross proceeds of $12,747,866.
- In total, the unregistered sales of equity securities amounted to 2,590,932 shares and $21,140,808 in gross proceeds.
- Gross proceeds for Class S-PR shares included $102,443 in upfront selling commissions and dealer manager fees.
- Brian P. Mathis resigned from the Board of Directors, effective April 7, 2026, with his decision not being due to any disagreement with management or company practices.
- Bryan B. Sanchez was appointed as an independent director to the Board, effective April 7, 2026, and will serve on the conflicts resolution committee and nominating and corporate governance committee.
Price Impact
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