ADREX Diversified 11 DST
Diversified portfolio (AREIT-sourced; Ares DST Program targets industrial/logistics, multifamily, self-storage) property — sponsored by Ares (ADREX)
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
ADREX Diversified 11 DST is a Delaware statutory trust — the fractional-ownership vehicle 1031 exchangers use to hold replacement property — sponsored by Ares' exchange platform and organized in 2025. It filed its launch notice on February 27, 2026 as a Rule 506(c) offering, which may be advertised publicly but sold only to verified accredited investors, with a $500,000 minimum.1 No property, tenant, or loan appears in the public file.
Min $500k; $0 of $476.3M sold per initial Form D 2026-02-27 (newly launched); 506(c)
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The Trust was organized under Delaware law in 2025.1 Its launch filing identifies no property — no address, asset, or purchase price appears in the public record. Top1031 classifies it as a diversified portfolio drawn from Ares' real estate program, whose DST offerings target industrial and logistics, multifamily, and self-storage. Until the private placement memorandum is in hand, what this Trust will own remains unsettled.
Who is the tenant, and what's the lease?
No tenant, lease, or operator is named in the public file. DST offerings commonly lease the property to a sponsor-affiliated master tenant that runs operations and pays rent to the trust, but nothing public confirms that structure here — lease terms would sit in the private placement memorandum, the offering document given to accredited investors.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
Public filings do not settle how this Trust is capitalized: the launch notice reports offering terms only, naming no lender or loan. Whether the Trust carries debt matters directly to an exchanger, who must replace borrowed dollars as well as equity to complete a fully tax-deferred exchange.
Who's behind it?
Ares Diversified Real Estate Exchange LLC — the 1031 exchange arm of Ares' real estate business — is the named sponsor, with ADREX Manager LLC as manager and signatory trustee and ADREX Diversified 11 TRS LLC as depositor.1 AltsWire reported on June 3, 2026 that Ares led DST sponsors year to date with $804.9 million raised, a 21.5% share. AltsWire also reported on July 17, 2026 that Ares' non-traded REIT issued 25 million operating partnership units in exchange for DST interests.
- Sponsor
- Ares (ADREX)
- Legal Trust name
- ADREX Diversified 11 DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 4 active / 17 total offerings from Ares (ADREX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The launch notice remains the entire public record; no amendment has followed it as of August 18, 2026. Rule 506(c) lets the sponsor advertise the offering openly, but each buyer must be verified as an accredited investor — meeting the SEC's income or net-worth tests — rather than self-certify.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is ADREX Diversified 11 DST still raising money?
Top1031 lists ADREX Diversified 11 DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for ADREX Diversified 11 DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Why doesn't this page name a building or tenant?
The Trust's only SEC filing is a Form D notice, filed February 27, 2026, and a Form D discloses offering terms rather than real estate. It names no property, location, tenant, lease, occupancy, purchase price, or loan. Those details appear in the private placement memorandum (PPM), which sponsors distribute to accredited investors instead of filing publicly.
Who can invest, and what is the minimum?
The offering is made under Rule 506(c), which permits public advertising but limits purchases to accredited investors whose status the sponsor must actively verify — typically through tax documents, brokerage statements, or a letter from a CPA or attorney. The Form D filed February 27, 2026 states a $500,000 minimum investment from any outside investor.
Is the Trust leveraged or all-cash?
Public filings do not say. The Form D contains no lender, loan amount, or loan-to-value information, and no later filing or amendment appears in the issuer's EDGAR record as of August 18, 2026. Leverage is one of the first items to settle in the PPM, since it determines the replacement debt a 1031 exchanger can match.
Could my interest end up converted into REIT shares?
Top1031's record for this Trust shows no 721/UPREIT feature — no stated mechanism to exchange trust interests for operating partnership units in a REIT. Ares' non-traded REIT has absorbed DST interests in other transactions, according to AltsWire's July 17, 2026 report, so the exit language in this Trust's PPM and trust agreement is worth reading directly.
How large is Ares in the DST market?
AltsWire reported on June 3, 2026 that Ares led DST sponsors in year-to-date sales with $804.9 million raised, a 21.5% market share, and Top1031 reported on August 15, 2026 that the ADREX platform was the biggest raiser across 2023-26 DST vintages at 16.5%. Those are platform-level figures across the sponsor's programs, not results for this individual Trust.