ADREX Signature Series DST
Diversified portfolio (AREIT-sourced; Ares DST Program targets industrial/logistics, multifamily, self-storage) property — sponsored by Ares (ADREX)
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
ADREX Signature Series DST is a Delaware statutory trust — a passive co-ownership vehicle structured so that an investor's interest can serve as replacement property in a 1031 exchange — organized in 2025 by Ares Diversified Real Estate Exchange LLC.1 Its interests were offered under Rule 506(b), a private exemption with no general advertising and sales to accredited investors. The filings name no specific property.3
Minimum investment
$90.5M
Offering size
$90.5M
How much has sold
100.0%
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
No property is named in the public record. The Form D classifies the issuer under "Other Real Estate" but gives no address, portfolio list, acquisition price, or acquisition date.3 Top1031 classifies the Trust as a diversified portfolio sourced from Ares Real Estate Income Trust, an affiliated REIT whose December 31, 2025 subsidiary list includes this Trust and three related ADREX entities.4
Who is the tenant, and what's the lease?
The public record identifies no tenant, operator, lease term, or occupancy level.3 Ares Real Estate Income Trust's subsidiary list does include ADREX Signature Series Master Tenant LLC — the naming pattern used when a DST leases its real estate to an affiliated master tenant that then runs day-to-day operations.4
How did it end?
Still operating
No disposition or full-cycle event has been publicly reported; SEC EDGAR shows only Form D filings (original Sep 2 2025, amended Dec 18 2025, raising ~$90.5M) and the trust is in its initial operating period well within its typical 5-10 year DST hold window (sec.gov EDGAR CIK 2084064, whalewisdom.com).
Supporting evidence
Counted on Ares (ADREX)’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
The Form D reports equity interests only, and the offering record establishes no mortgage, lender, or loan-to-value figure. Whether the Trust carries property-level debt is unresolved from the filings reviewed.3
Who's behind it?
Ares Diversified Real Estate Exchange LLC operates the ADREX 1031 exchange program within Ares Management's real estate business; its filings name ADREX Signature Series Manager LLC as manager and signatory trustee and ADREX Signature Series TRS LLC as depositor.1 AltsWire, reporting Mountain Dell Consulting's year-end tracker on January 8, 2026, said Ares Real Estate Exchange raised roughly $1.6 billion across DST offerings during 2025, the largest share of that year's market.5
- Sponsor
- Ares (ADREX)
- May convert to a REIT
- No
- Offerings from this sponsor
- 5 active / 18 total offerings from Ares (ADREX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The initial notice was filed as a new offering stating that the first sale had not yet occurred.1 The later amendment reported a first sale date of September 16, 2025 and revised the sold and remaining figures.2
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- ADREX Signature Series DST
- Filings on record
- 2
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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
What happened to ADREX Signature Series DST?
ADREX Signature Series DST is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for ADREX Signature Series 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.
What real estate does ADREX Signature Series DST actually own?
The public filings do not say. The Form D and its amendment classify the issuer under "Other Real Estate" without naming a property, address, portfolio, tenant, or acquisition date, so the underlying real estate is unresolved from the SEC record.[3] Top1031 classifies it as a diversified portfolio sourced from Ares Real Estate Income Trust, the sponsor's affiliated REIT, which lists the Trust among its subsidiaries as of December 31, 2025.[4] The private placement memorandum (PPM) — the sponsor's full offering document — is the authority on what is held.
What does a Rule 506(b) offering mean for me as an investor?
Rule 506(b) is a private-placement exemption under Regulation D. The sponsor may not advertise or generally solicit the offering, and interests go to accredited investors — broadly, individuals with $1 million in net worth excluding their primary residence, or $200,000 in annual income ($300,000 with a spouse). In practice, 506(b) deals reach investors through advisers and broker-dealers with a pre-existing relationship rather than public marketing.
Is this Trust still open to new investors?
The December 18, 2025 Form D/A is the most recent filing on record for this Trust, and it reported updated sold and remaining amounts; the sales module on this page shows those reported figures.[2] No later Form D for CIK 2084064 was located in research through September 15, 2026. Availability can change between filings, so current status should be confirmed with the sponsor or your adviser.
Who controls the Trust day to day?
The Form D names Ares Diversified Real Estate Exchange LLC as sponsor, ADREX Signature Series Manager LLC as manager and signatory trustee, and ADREX Signature Series TRS LLC as depositor of the issuer.[1] Ares Real Estate Income Trust's subsidiary exhibit also lists ADREX Signature Series Master Tenant LLC as of December 31, 2025.[4] In a DST, beneficial owners hold passive interests and do not make operating decisions.
Does this Trust include a 721/UPREIT exit?
Top1031's record for this Trust shows no 721/UPREIT conversion feature — that is the structure in which DST investors exchange their real estate interest for operating-partnership units of a REIT rather than selling. The Form D filings say nothing about exit mechanics, so any conversion right, purchase option, or hold expectation would have to be confirmed in the PPM.
Why is so little detail in the SEC filings?
A Form D is a short notice of an exempt offering, not a prospectus. It reports the issuer, its control persons, the exemption claimed, the offering amount, and sales to date — nothing about the property, tenant, lease, or loan. For DSTs, the substantive disclosure lives in the PPM, which is delivered to prospective investors rather than filed publicly.
Chapter 9Form D/A ADREX Signature Series DSTForm D/A amendment notice for ADREX Signature Series DST during the Sep-Dec 2025 filing period; offering amount $90,510,204.