Ariel provides consulting, operations and property management, leasing and development management, and marketing services for a range of assets in the retail industry. Ariel’s services are suited to a broad range of owners’ requirements. Ariel serves U.S. and international developers, retailers and investors seeking to establish or expand a retail investment or operating program; institutional owners and financial institutions seeking to complete and/or reposition assets; owners of smaller portfolios seeking to benefit from a greater market reach and critical mass in the value retail sector or broader retail industry; owners/lenders of assets that are in transition and may require an interim operating solution; investors seeking to expand investment or operating programs in the retail sector; and domestic and international tenants and manufacturers seeking to expand their retail footprint in the U.S. and internationally. Ariel’s services include: Consulting Services Design and planning for new and existing centers Assisting in graphic design and branding Development of marketing and advertizing programs and strategies Assessing repositioning, re-tenanting, and development options Developing budgets for capital expenditures, leasing, and marketing strategies Feasibility and valuation analyses Development of operating projections and associated sensitivity analyses Assessment of capital market and financing options Creation of project websites Project/Development Management Services Confidential site selection, including acquisition services and/or space and ground lease negotiations Project planning and pre-development services Oversight of third party consultants, including economics and demographics, architectural and engineering, as well as zoning feasibility, costing, marketing graphics, public relations and/or other specialists Development management, including negotiation of construction contracts and oversight of construction contractor and associated subcontractors Full-Service Property Management and Maintenance Services Communication with tenants and owners Contractor/vendor supervision Bid comparisons for larger maintenance projects Regular professional property inspections Oversee owner approved renovations and upgrades to the property Tenant relations and retention Performance of contract and preventative maintenance service Construction and tenant improvement supervision Leasing Services Development of merchandising plans Development of leasing plans Creation of collateral leasing materials (including lease forms, landlord work letters, estimates of tenant allowance and landlord work, etc.) Creation of leasing pro-forma's Evaluation of lease economics Lease preparation Lease negotiation Financial Advisory Services Evaluation of alternative capital structures Structuring joint ventures Evaluation of asset, portfolio, and or corporate investment opportunities Development and implementation of retail investment programs Acquisition analyses and management of due diligence and acquisition process Assistance in raising investment or project capital Preparation of fairness opinions Reporting and Accounting Services Lease administration Collection of rents Timely processing and payment of invoices Monthly detailed financial reporting Annual budgeting and periodic re-forecasting Cash management and treasury services Debt service management and loan servicing Real property tax assessment and insurance review and consultation Development of operating projections and associated sensitivity analysis Troubled asset consulting

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