Ares Industrial Real Estate Income Trust Reports July 31, 2025 NAV Per Share.

Altus Group U.S. Inc. has given consent for references to their name and role in the valuation process described in Ares Industrial Real Estate Income Trust Inc.'s Current Report on Form 8-K. The consent does not imply that Altus Group is required under Section 7 of the Securities Act of 1933.

Altus Power Inc. ("Altus Power" or "the Company"), a leading clean electrification company, and CBRE Acquisition Holdings, Inc. ("CBAH") have announced a definitive agreement for a business combination that would result in Altus Power becoming a public company listed on the New York Stock Exchange under the new ticker symbol "AMPS". CBAH is a special-purpose acquisition company sponsored by CBRE Group, Inc. ("CBRE"), the world’s largest commercial real estate services firm [1].

The transaction is anticipated to generate gross proceeds of up to approximately $678 million of cash, assuming no redemptions by CBAH’s public stockholders. This includes a $275 million fully-committed common stock PIPE, anchored by CBRE Group, Inc. and existing investors, including Altus Power management and Blackstone Credit, as well as new investors, such as ValueAct Capital and Liberty Mutual Investments [1].

The pro forma implied equity value of the combined company is $1.58 billion at the $10 per share price in the transaction. The transaction will allow Altus Power to leverage the strength and reach of CBRE, further enhancing its ability to serve corporate and public clients with onsite clean energy generation and storage [1].

Altus Power’s leadership, including Co-Chief Executive Officers Lars Norell and Gregg Felton, will remain intact. The Board of Directors of the combined company will include representation from Altus Power, CBRE, Blackstone Credit, and ValueAct Capital, with a majority of independent directors [1].

The transaction has been unanimously approved by the boards of Altus Power and CBAH and is expected to close in the fourth quarter of 2021, subject to customary closing conditions [1].

References:
[1] https://www.businesswire.com/news/home/20210713005393/en/Altus-Power-Inc.-a-Market-Leading-Clean-Electrification-Company-Announces-Business-Combination-with-CBRE-Acquisition-Holdings-Inc.-Combined-Company-Expected-to-Be-Listed-on-New-York-Stock-Exchange