Ares (ADREX)
DST sponsorfirst SEC filing 2021ares.com
Counted by Top1031 from SEC Form D filings · updated Oct 15, 2026 · Record Card evaluated Oct 12, 2026
0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs.
Ares (ADREX) has sponsored 23 Delaware Statutory Trust (DST) programs found in SEC Form D filings since 2021, most often multifamily properties. Today its SEC filings show four active offerings; the newest was first filed on Oct 14, 2026.
Ares (ADREX) DST offerings (4 active)
Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest.
Ask a specialist about these offeringsAres (ADREX) Record Card
Ares (ADREX)
0 completed sales; 0 losses or impairments; 0 counted Programs. Fewer than three counted Programs. NR is not a failing grade. A letter needs 3 counted outcomes or 3 documented sales.
Completed sales 0Losses or impairments 0Counted Programs 0
Of 23 Programs, 0 count toward the Grade: 0 completed sales and 0 losses or impairments. The lines below describe all Programs, including those outside the Grade count.
- Programs found in SEC fundraising filings (Form D)
- 23
- Share of programs over 3 years old whose status we confirmed
- 20%
About Ares (ADREX)
Ares (ADREX) is the Delaware statutory trust platform of Ares Management, presented as Ares Real Estate Exchange, a program under Internal Revenue Code Sections 1031 and 721 for owners of appreciated real estate. The sponsoring entity, Ares Diversified Real Estate Exchange LLC, was formerly Black Creek Exchange LLC and is described in the parent's 2024 annual report as a wholly owned subsidiary of the taxable REIT subsidiary held by the operating partnership. The program offers interests in real properties placed into Delaware statutory trusts by the operating partnership or its affiliates. The issuer reported $2.08 billion of gross DST Program interests sold through December 31, 2023, and $797.0 million during 2024.
Sponsor-stated figures are as reported by the sponsor.Sources: ares.com · Web page · Undated · sec.gov · SEC filing · 2021 · sec.gov · SEC filing · 2021 · sec.gov · SEC filing · 2025 · sec.gov · SEC filing · 2024 · Top1031 sponsor record · +2 more
DST Program structure and reported scale
An August 22, 2024 parent filing describes the DST Program as offering interests in one or more real properties placed into one or more Delaware statutory trusts by the operating partnership or its affiliates, with those interests able to serve as replacement properties for Section 1031 like-kind exchanges; the same filing reported $2.08 billion of gross interests sold under the DST Program as of December 31, 2023 5. For 2024, the issuer reported selling $797.0 million of gross interests related to the DST Program, of which $63.3 million were financed by DST Program Loans 4.
Program series
Top1031 tracks 22 trusts across two parallel naming series. The record begins with ADREX Clearwater DST, first filed in 2021, followed in 2022 by ADREX Diversified I and II DST, ADREX Multifamily I DST, and AIREX Portfolio IV, V and VI DST. Sequentially numbered ADREX Diversified programs appear in each year through 2026, alongside AIREX Portfolio 7 through 11 DST and ADREX Signature Series DST, first filed in 2025 6. A February 27, 2026 amendment for ADREX Diversified 10 DST identified Ares Diversified Real Estate Exchange LLC as the sponsor of that trust 7.
Programs recorded as completed
Top1031's completed-program record for the platform lists four early trusts: ADREX Clearwater DST and ADREX Multifamily I DST, recorded as multifamily programs, and ADREX Diversified I DST and ADREX Diversified II DST, recorded as diversified programs. Each is named in the subsidiaries exhibit filed with the parent's annual report for 2024 8.
Show sources (8)Hide sources (8)
- ares.com · Web page · Undated ↗ Sponsor disclosure
- sec.gov · SEC filing · 2021 ↗ Public record
- sec.gov · SEC filing · 2021 ↗ Public record
- sec.gov · SEC filing · 2025 ↗ Public record
- sec.gov · SEC filing · 2024 ↗ Public record
- Top1031 sponsor record ↗
- sec.gov · SEC filing · 2026 ↗ Public record
- sec.gov · SEC filing · Undated ↗ Public record
Ares (ADREX) track record (23 programs)
Every program found in SEC Form D filings. Programs with a reported result are listed first, then the rest by first filing year. Each row links to its SEC filings.
Show all 23 programsShow fewer
Ares (ADREX) news
Sales report on ADREX Diversified 12 DST →
More Ares (ADREX) coverage (11)
Questions about Ares (ADREX) DSTs
- Does Ares (ADREX) have DST offerings available now?
- Ares (ADREX)’s SEC filings show four active DST offerings, with stated offering sizes from $459.3M to $537.9M. Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest. The newest was first filed on Oct 14, 2026.
- How many DST programs has Ares (ADREX) sponsored?
- Top1031 found 23 Ares (ADREX) programs in SEC Form D filings. The first was filed in 2021. Each is listed in the track record on this page with a link to its SEC filings.
- What kind of property does Ares (ADREX) put in its DSTs?
- Of the 24 Ares (ADREX) offering records on Top1031, nine are multifamily and eight industrial.
- What is the minimum investment for Ares (ADREX) DSTs?
- Each of its active offerings with a stated minimum lists $500,000, as shown on each offering’s page.
- What results has Ares (ADREX) published for its DSTs?
- On its Record Card, none of its 23 programs sold with a result reported by the sponsor yet. Of the rest, one moved into a REIT instead of being sold. Sponsor-stated figures are as reported by the sponsor; Top1031 does not compute or estimate returns.
- How do I ask about Ares (ADREX) offerings?
- Use the “Ask a specialist about these offerings” button at the top of Ares (ADREX)’s offerings list on this page. Top1031 is not a broker-dealer or investment adviser and does not provide tax, legal, or investment advice.
Answers are generated from the counts on this page and change when the record changes.
Other multifamily DST sponsors
What can I do next?
Use the record as a starting point. Compare the current offerings or save them to your Watchlist.