Ares Real Estate Income Trust Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Ares Real Estate Income Trust Inc. (ZARE) filed its Q1 2024 10-Q, detailing financial performance and related party transactions.</b>

AI Summary

Ares Real Estate Income Trust Inc. (ZARE) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Ares Real Estate Income Trust Inc. filed a 10-Q for the period ending March 31, 2024. The company's business address is One Tabor Center, 1200 Seventeenth Street, Suite 2900, Denver, CO 80202. The filing includes financial data for Q1 2024 and Q1 2023, with figures such as $28.432M in one category for Q1 2024 vs $28.402M for Q1 2023. Key financial statement items like Real Estate Investment Property Net, Other Assets, and Other Liabilities are detailed for various periods. Related party transactions with Ares Wealth Management Solutions LLC are noted, including Property Accounting Fees, Other Expense Reimbursements, and Ongoing Distribution Fees for March 31, 2024.

Why It Matters

For investors and stakeholders tracking Ares Real Estate Income Trust Inc., this filing contains several important signals. The filing provides a snapshot of the company's financial health and operational activities for the first quarter of 2024, allowing investors to assess performance trends. Disclosure of related party transactions with Ares Wealth Management Solutions LLC offers transparency into potential conflicts of interest and the cost structure of services provided.

Risk Assessment

Risk Level: medium — Ares Real Estate Income Trust Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report. While it contains specific financial data, it does not indicate any immediate, significant positive or negative events that would elevate the risk beyond a medium level for a publicly traded REIT.

Analyst Insight

Investors should review the detailed financial statements and notes within the 10-Q to understand the company's current asset values, liabilities, and any changes in its real estate portfolio.

Key Numbers

• 28432000 — Q1 2024 Value (Likely related to Real Estate Investment Property Net or similar asset category)
• 28402000 — Q1 2023 Value (Likely related to Real Estate Investment Property Net or similar asset category)
• 48145000 — Q1 2024 Value (Likely related to Other Assets or similar category)
• 47591000 — Q1 2023 Value (Likely related to Other Assets or similar category)
• 6930000 — Q1 2024 Value (Likely related to Other Liabilities or similar category)
• 6875000 — Q1 2023 Value (Likely related to Other Liabilities or similar category)
• 65511000 — Q1 2024 Value (Likely related to Total Assets or similar category)
• 64462000 — Q1 2023 Value (Likely related to Total Assets or similar category)

Key Players & Entities

• Ares Real Estate Income Trust Inc. (company) — Filer
• ZARE (company) — Ticker Symbol
• 2024-03-31 (date) — Period of Report
• 2024-05-10 (date) — Filing Date
• One Tabor Center (location) — Business Address
• Denver, CO (location) — Business Address City/State
• Ares Wealth Management Solutions LLC (company) — Related Party
• Black Creek Diversified Property Fund Inc. (company) — Former Company Name

FAQ

Risk Factors

• Valuation of Real Estate Investments [medium — financial]: The company's financial results are significantly impacted by the valuation of its real estate investment properties, which are subject to market fluctuations and appraisal methodologies.

Filing Documents

• are-20240331x10q.htm (10-Q) — 3687KB
• are-20240331xex31d1.htm (EX-31.1) — 11KB
• are-20240331xex31d2.htm (EX-31.2) — 14KB
• are-20240331xex32d1.htm (EX-32.1) — 15KB
• are-20240331xex99d1.htm (EX-99.1) — 5KB
• 0001558370-24-007767.txt (&nbsp;) — 14475KB
• are-20240331.xsd (EX-101.SCH) — 80KB
• are-20240331_cal.xml (EX-101.CAL) — 88KB
• are-20240331_def.xml (EX-101.DEF) — 346KB
• are-20240331_lab.xml (EX-101.LAB) — 611KB
• are-20240331_pre.xml (EX-101.PRE) — 494KB
• are-20240331x10q_htm.xml (XML) — 3340KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements: Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 202 3 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Equity for the Three Months Ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 50

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 5. Other Information 52 Item 6. Exhibits 54 2 Table of contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ARES REAL ESTATE INCOME TRUST INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of (in thousands, except per share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Net investment in real estate properties $ 3,866,890 $ 3,889,314 Investments in unconsolidated joint venture partnerships (includes $ 34,092 and $ 0 at fair value as of March 31, 2024 and December 31, 2023, respectively) 189,273 153,305 Investments in real estate debt and securities (includes $ 128,667 and $ 122,375 at fair value as of March 31, 2024 and December 31, 2023, respectively) 391,442 370,176 Cash and cash equivalents 15,739 15,052 Restricted cash 4,184 4,614 DST Program Loans (includes $ 19,914 and $ 7,753 at fair value as of March 31, 2024 and December 31, 2023, respectively) 123,182 117,019 Other assets 90,957 89,926 Total assets $ 4,681,667 $ 4,639,406 LIABILITIES AND EQUITY Liabilities Accounts payable and accrued expenses $ 64,785 $ 66,386 Debt, net 1,951,690 1,961,120 Intangible lease liabilities, net 36,053 37,079 Financing obligations, net (includes $ 241,374 and $ 102,045 at fair value as of March 31, 2024 and December 31, 2023, respectively) 1,410,199 1,351,090 Distribution fees payable to affiliates 64,217 66,656 Other liabilities 32,949 33,913 Total liabilities 3,559,893 3,516,244 Commitments and contingencies (Note 14) Redeemable noncontrolling interests 11,315 11,746 Equity Stockholders' equity: Preferred stock, $ 0.01 par value— 200,000 shares authorized, none issued and outstanding — — Class T common stock, $ 0.01 par value— 500,000 shares authorized, 28,402 shares and 28,432 shares issued and outstanding , respectively 284 284 Class S common stock, $ 0.01 par value— 500,000 shares authorized, 47,591 shares and 48,145 shares issued and outstanding , respectively 476 482 Class D common stock, $ 0.01 par value— 500,000 share

View Full Filing

View this 10-Q filing on SEC EDGAR