Form D · Other Investment Fund
Ares US Real Estate Fund XI, L.P.
Los Angeles, CA · CIK 0002046604
Offering snapshot reported Dec 31, 2025 · SEC filing
- Reported sold
- $2.28B Indefinite offering
- Investors reported
- 61 Form D · investor count
- Minimum accepted
- $0 Reported outside-investor minimum
- First sale
- Dec 23, 2024 As reported in this filing
Fundraising history
Reported soldDates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.
What changed?
Latest filing versus its linked predecessor, where available.
- Reported investors0 → 61
Filing history
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| Filed | Filing type | Reported sold | Change vs linked filing | Investors | Source |
|---|---|---|---|---|---|
| Dec 31, 2025 | Amendment | $2,277,100,000 | No comparison | 61 | SEC filing |
| Dec 22, 2025 | Amendment | $2,166,100,000 | No comparison | 58 | SEC filing |
| Dec 20, 2024 | Initial | Yet to sell | No comparison | 0 | SEC filing |
Offering details
- Securities
- Pooled investment fund
- Exemptions
- 06b, 3C, 3C.7
- Duration over one year
- No
- Business combination
- No
- Sales commissions
- $0 (estimated)
- Finders' fees
- $0 (estimated)
- Form D file number
- 021-532972
Amounts to be paid to certain Recipients listed in Item 12 (Sales Compensation) will be based on a percentage of capital raised from certain limited partners.
Sales compensation recipients
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| Recipient | CRD | Associated broker-dealer |
|---|---|---|
| Ares Management Capital Markets LLC | 166219 | |
| Korea Asset Investment Securities Co., Ltd. | None | |
| Mirae Asset Securities Co., Ltd. | None |
Source: Form D, filed Dec 31, 2025. Minimum accepted may differ from a standard advertised minimum.
Fund connections
No confirmed ADV fund connection is available for this issuer.
People & organizations
Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.
| Name | Reported role |
|---|---|
| Manager Ares Real Estate Management Holdings, Llc | Executive |
| General Partner Ares Us Real Estate Advisors Xi, L.P. | Executive |
| Michael Arougheti | Executive |
| William Benjamin | Executive |
| Jay Glaubach | Executive |
| Andrew E Holm | Executive |
| Keith Kooper | Executive |
| Jessica Mattoon | Executive |
| David Roth | Executive |
| Julie Solomon | Executive |
Issuer details
Industry: Pooled Investment Fund (See others in industry)
Address:Los Angeles, CA, 90067