Ares US Real Estate Opportunity Fund III
Potential Market Opportunity
ARES
Note: The information contained in this presentation represents Ares Real Estate Group's views as of August 31, 2020. However, the situation surrounding COVID-19 is fluid and developing
rapidly. As such, our views are subject to change at any time. The views expressed in the foregoing are those of the Ares Real Estate Group as of August 31, 2020, and do not necessarily
reflect the views of Ares Management Corporation ("Ares Corp," together with Ares Management LLC or any of its affiliated entities "Ares"). The views are provided for educational or
informational purposes only, are not meant as investment advice, and are subject to change. The information set forth is provided merely to provide a framework to assist in the
implementation of an investor's own analysis and an investor's own views on the topic discussed herein. Moreover, while this document expresses views as to certain investment
opportunities and asset classes, Ares may undertake investment activities on behalf of one or more investment mandates inconsistent with such views subject to the requirements and
objectives of the particular mandate. Projections and forward looking statements are not reliable indicators of future events and no guarantee or assurance is given that such activities will
occur as expected or at all.
Certain information contained herein concerning economic trends is based on or derived from information provided by independent third-party sources. Ares believes that such
information is accurate and that the sources from which it has been obtained are reliable; however, it cannot guarantee the accuracy of such information and has not independently
verified the accuracy or completeness of such information or the assumptions on which such information is based. Moreover, independent third-party sources cited in these materials are
not making any representations or warranties regarding any information attributed to them and shall have no liability in connection with the use of such information in these materials.
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