Arel Capital

• Arel Capital is a real-estate focused investment company, formed in January of 2013 by Richard Leibovitch and Gabriel Bousbib. • The principals combined over 50 years of investment experience in real estate, asset-based lending, and debt and equity capital markets; having held senior positions at large asset management firms. • Mr. Leibovitch was a founding partner and the former Chief Investment Officer of Gottex Fund Management, an $8 billion publicly-traded asset management firm. Mr. Bousbib was the Chief Operating Officer of Gottex Fund Management. The two have worked closely and successfully together in the past. • The principals bring institutional-quality due diligence and investment processes to a segment underserved by large real-estate allocators. • The principals leverage their network of property managers, lenders and intermediaries to identify deals before or as they come onto the market. • The team partners with local property managers and brokers who bring the granular knowledge and oversight capabilities of particular neighborhoods and individual properties. • The principals will co-invest in any proposed transaction.