Top1031

AIREX Industrial 11 DST

Industrial property in Florida, GA · sponsored by Ares (ADREX)

Active offeringLatest Form D filed Apr 13, 2026 (opens in a new tab)

AIREX Industrial 11 DST is a DST sponsored by Ares (ADREX) that owns an industrial property in Florida, GA. Its latest Form D, filed Apr 13, 2026, lists a $459.3 million offering with a $500,000 minimum.

Key facts

Minimum investment
$500,000
From the Form D
Offering size
$459,338,843
Equity offered, per the Form D
Sold so far
None reported as of Apr 13, 2026
Form D, Apr 13, 2026
Selling commissions
$22,966,942 · 4.9% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
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 →

Sales so far

Latest Form D
Apr 13, 2026 · 1 filing

No sales reported in a Form D amendment yet. Latest notice Apr 13, 2026.

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Ask a 1031 specialist about this recordFree. About: AIREX Industrial 11 DST. Top1031 is not a broker-dealer.

No photo on record. Location not stated in the SEC filings.

What does AIREX Industrial 11 DST own?

The Form D classifies the Trust's holdings as industrial real estate. 1 AltsWire reported on April 6, 2026 that an Ares offering marketed as AIREX Industrial 11 comprises properties in Florida, Georgia, Ohio and Texas; that report does not tie specific buildings to this legal trust. 2

Reported location
Florida, GA

How is it financed, and what did it cost to sell?

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
$22,966,942 · 4.9% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$19,521,902 · 4.2% of offering
Form D Item 16
· The filing’s note: “Estimate includes Dealer Manager Fee, Facilitation Fee and Organizational Exp. and RE Transaction Cost Allowance that may accrue to one or more related persons.”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms
  • Ares Management Capital Markets LLC · CRD 166219

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
Minimum investment
$500,000

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.

What does the SEC record show?

Legal Trust name
AIREX Portfolio 11 DST
SEC CIK
2129379
First Form D
Apr 13, 2026
Latest Form D
Apr 13, 2026
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$459,338,843
$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

Is AIREX Industrial 11 DST an active offering?
AIREX Industrial 11 DST is an Active offering: its latest Form D was filed Apr 13, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
What kind of property does AIREX Portfolio 11 DST hold?
Industrial real estate, as classified in its April 13, 2026 Form D. AltsWire reported on April 6, 2026 that an Ares offering marketed as AIREX Industrial 11 is made up of properties in Florida, Georgia, Ohio and Texas, though that report does not tie specific buildings to this legal entity. The building list sits in the sponsor's offering documents.
Is AIREX Portfolio 11 DST the same as AIREX Industrial 11 DST?
AIREX Portfolio 11 DST is the legal issuer name on the SEC filing, CIK 2129379, while AIREX Industrial 11 is the marketing name used in trade press. AltsWire's May 7, 2026 DST sales roundup described AIREX Industrial 11 as an Ares industrial DST of about $459.3 million launched in April 2026. The Form D itself prints only the legal name.
Who sponsors the Trust?
Ares Industrial Real Estate Exchange LLC, named as sponsor on the April 13, 2026 Form D. It is the 1031 exchange arm of Ares' industrial real estate business, which also runs the ADREX exchange platform.
How may interests in the Trust be offered?
Under Rule 506(b), a private placement rule that allows sales only to accredited investors the sponsor already has a relationship with and bars general advertising. An accredited investor is someone who meets SEC income or net worth tests. The April 13, 2026 Form D states a $500,000 minimum investment accepted from an outside investor.
Can an investor roll into a REIT later through a 721 exchange?
A 721 or UPREIT exit, in which DST property is contributed to a REIT in exchange for operating partnership units, is not indicated for this Trust. Its data shows no REIT conversion path. Exit terms for a DST are set out in the trust agreement and described in the offering documents.

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.