AIREX Portfolio 7 DST
Industrial — 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?
AIREX Portfolio 7 DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — sponsored by Ares Industrial Real Estate Exchange. It holds a multi-property industrial portfolio whose individual buildings are not identified in public filings. The Trust is closed to new investors; its final Form D/A was filed September 5, 2024.2
Minimum investment
$500k
Offering size
$219.2M
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?
The Trust was assembled as a multi-property industrial portfolio under the AIREX DST program, and the sponsor does not publicly disclose the individual buildings outside its offering documents. As of September 2, 2026, the reviewed public record does not identify the properties, their markets, or their square footage. What the record does establish is affiliation: Ares Industrial Real Estate Income Trust listed the Trust among its Delaware subsidiaries at December 31, 2023.5
Who is the tenant, and what's the lease?
No tenant, lease term, or occupancy detail for this portfolio appears in the public record. The parent REIT's subsidiary list does show AIREX Portfolio 7 Master Tenant LLC beside the Trust — the affiliated entity that leases the real estate from the trust in a DST structure, so investors hold beneficial interests rather than a direct landlord relationship.5
How did it end?
Still operating
No dedicated dated news coverage for AIREX Portfolio 7 DST was found. Sponsored by Ares Industrial Real Estate Exchange LLC, headquartered at 1200 17th Street, 29th Floor, Denver, CO 80202. Per SEC EDGAR Form D, Total Offering Amount was $241,487,603, first filed 2023-08-23 with subsequent D/A filings in 2024. AIREX 7 is a multi-property industrial portfolio under the AIREX DST Program; specific properties are not publicly disclosed outside the SEC filings.
Supporting evidence
Counted on Ares (ADREX)’s Record Card as: No outcome recorded · under 7 years Document
Who's behind it?
Ares Industrial Real Estate Exchange LLC sponsors the AIREX DST program from Denver, Colorado, and builds its 1031 exchange offerings around industrial real estate. The Trust is affiliated with Ares Industrial Real Estate Income Trust, a non-traded REIT whose subsidiary lists included this Trust and its manager, master tenant, and depositor entities at December 31, 2023 and again at December 31, 2025.3 That REIT's Form 10-K reported Portfolio 7 DST interests issued and outstanding as of December 31, 2025.4
- 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 Form D set out a $241,487,603 offering with a $500,000 minimum, and four later amendments tracked the raise before the final one reset the stated offering size downward and reported an October 9, 2023 first sale.2 Interests were sold privately to accredited investors — those meeting SEC income or net-worth tests — without public advertising.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- AIREX Portfolio 7 DST
- Filings on record
- 5
- 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 AIREX Portfolio 7 DST?
AIREX Portfolio 7 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 AIREX Portfolio 7 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 properties does AIREX Portfolio 7 DST actually own?
The public record does not say. Top1031's pipeline data and the sponsor's program materials describe it as a multi-property industrial portfolio, but the specific buildings, cities, tenants, and square footage are not disclosed outside the sponsor's private offering documents. An investor would need the PPM — the private placement memorandum, the offering's full legal disclosure book — to see the asset list.
Can I still invest in this Trust?
No. The Trust is closed to new investors. The final Form D/A, filed September 5, 2024, reported the offering fully subscribed, and no later Form D has been filed.
What was the minimum investment?
The Form D filings reported a $500,000 minimum investment, unchanged from the initial August 23, 2023 filing through the final amendment on September 5, 2024. That is high for a DST; many offerings set minimums of $100,000 or less.
Who sponsors this Trust, and how large is that platform?
Ares Industrial Real Estate Exchange LLC, headquartered at 1200 17th Street in Denver, Colorado, sponsors the AIREX DST program. The Trust and its affiliated manager, master tenant, and depositor entities appeared on the subsidiary list of Ares Industrial Real Estate Income Trust, a non-traded REIT, as of December 31, 2025.
Has the portfolio been sold or rolled into a REIT?
No exit is on record. Ares Industrial Real Estate Income Trust's Form 10-K reported Portfolio 7 DST interests issued and outstanding as of December 31, 2025, and no filing reviewed establishes a sale, conversion, or other disposition. No outcome has been reported yet.
How much debt is on the portfolio?
Unknown from public sources. Form D filings do not report property-level mortgage debt, and no reviewed record states the portfolio's loan balance, lender, or loan-to-value. Leverage would be described in the PPM.
Chapter 8DST fundraising trends January 2024 (Ares launches AIREX Portfolio 7 DST)Ares Industrial Real Estate Exchange launched AIREX Portfolio 7 DST in January 2024 as part of its industrial 1031 DST program.