Exhibit 10.3
[ ], 202[_]
Timberline Holdco LLC
c/o Timberline Real Estate Ventures, LLC
2 School Street
Rye, NY 10580
Attn: Andrew N. Stark
RE: AREIT Operating Partnership LP Profit Interest Letter Agreement
Dear [__]:
AREIT Operating Partnership LP (“AREIT OP”) is pleased to provide Timberline Holdco LLC (the “JV Profit Interest Partner”), with this letter agreement (the “Letter Agreement”) to admit the JV Profit Interest Partner as a limited partner in AREIT OP and grant a performance participation interest in [tranche name] more particularly described on Exhibit A (the “[Tranche Name] Profit Interest”) to JV Profit Interest Partner, under the terms set forth in Exhibit A, in consideration of services rendered and to be rendered by the JV Profit Interest Partner.
AREIT OPERATING PARTNERSHIP LP By: Ares Real Estate Income Trust, Inc., its General Partner | |
| By: |
| TIMBERLINE HOLDCO LLC By: [ ] |
| By: |
2
Exhibit A
Exhibit B