Ares US Real Estate Opportunity Fund III
AREOF III Portfolio and Pipeline
ARES
The following investments reflect all closed and in-closing investments in AREOF III as of June 30, 2020.
In-closing investments do not represent actual investments executed by Ares US Real Estate Opportunity Fund III, L.P. or any other Ares fund and are only provided as an illustration of the type of
investments that potentially may be available. The consummation of these investments depends upon, among other things, one or more of the following: satisfactory completion of our due
diligence investigation of the prospective investments, our acceptance of the terms and structuring of such investment and the execution and delivery of satisfactory transaction documentation.
There can be no assurance that these investments will be consummated, perform as expected, or avoid significant losses. This information is shown for illustrative purposes only and is not
necessarily representative of all transactions of a given type and is intended to be illustrative of some of the types of investments that may be made by Ares employing the investment strategies
detailed in this presentation, and are not necessarily representative of the investment opportunities that will be available to Ares US Real Estate Opportunity Fund III, L.P.
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