ADREX Signature Series DST
Diversified portfolio · sponsored by Ares (ADREX)
ADREX Signature Series DST was a DST sponsored by Ares (ADREX) that owned a diversified portfolio. Its last Form D, filed Dec 18, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Dec 18, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $90,510,204From the Form D
- Offering size
- $90,510,204Equity offered, per the Form D
- Sold
- 100%Form D, Dec 18, 2025; the % is our arithmetic
- Investors reported
- Form D, Dec 18, 20251
- Selling commissions
- Form D Item 15; the % is our arithmetic$905,102 · 0.9% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: ADREX Signature Series DST. Top1031 is not a broker-dealer.What did ADREX Signature Series DST own?
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
How was it financed, and what did it cost to sell?
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
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $905,102 · 0.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $905,102 · 0.9% of offeringForm D Item 16· The filing’s note: “Estimate includes Facilitation Fee that may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 2 named in the Form D
Show the firms
- Ares Wealth Management Solutions, LLC · CRD 119546
- Morgan Stanley · CRD 149777
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Sep 16, 2025
- Minimum investment
- $90,510,204
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind ADREX Signature Series DST?
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
- Offerings on record
What does the SEC record show?
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
- Legal Trust name
- ADREX Signature Series DST
- SEC CIK
- 2084064
- First Form D
- Sep 2, 2025
- Latest Form D
- Dec 18, 2025
- Filings on record
- 2
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $90,510,204 | $90,510,204+$90,510,204 | 1 | EDGAR | |
| Form D | $90,510,204 | $0 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to ADREX Signature Series DST?
- ADREX Signature Series DST is a Historical offering. The last Form D, filed Dec 18, 2025, reports the offering fully sold.
- 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. 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. The offering documents are 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.
- 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. Ares Real Estate Income Trust's subsidiary exhibit also lists ADREX Signature Series Master Tenant LLC as of December 31, 2025. 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 offering documents.
- 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 offering documents, which are delivered to prospective investors rather than filed publicly.
In the news
Sources
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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 offering documents before investing.