MARCH 20, 2020

To Our Clients and Friends Regarding the Coronavirus (COVID-19)

In light of rising concerns about Coronavirus (COVID-19), we want to let you know what steps ASB Real Estate Investments has taken to ensure there is no interruption to our activities on behalf of our clients.

First, we have operational systems and business continuity plans in place (including capabilities for employees to work remotely with secure access to servers) and expect to continue to function with minimal, if any, disruption. Our investment management team continues to work closely with our local partners and property management teams to monitor and manage our real estate assets effectively.  We have also proactively communicated with our property management teams to ensure that they have communicated with our various tenants and implemented best practices related to this issue.

Second, we are following national Center for Disease Control (CDC) and local public health advice in relation to Coronavirus. Consistent with the CDC’s preventative guidance, if our employees are feeling ill or caring for others who are, or could be ill, they have been instructed to stay home and seek medical attention. We have in place established policies and procedures to deal with working remotely and any business disruption should the situation change, in order to safeguard our employees and to minimize the risk to those with whom we do business.

Third, based on developments across the country and internationally, we have canceled all international business travel, and for the time being, we are limiting non-critical business travel. As an alternative to face-to-face meetings, whenever a meeting can reasonably be conducted by video conference or phone, we are doing so.

We are implementing these measures out of an abundance of caution. As you know, many organizations, including many of our peer firms, are taking similar measures. All decisions are being made to protect our colleagues and our clients, and to do our part to responsibly contribute to containing the spread of the virus.

We believe we have a responsibility to do all we can to minimize the risk to those with whom we do business and protect the community while also maintaining our standards of high-quality service and communication.

The American spirit is strong and resilient. Our history has shown that there is no challenge that we cannot surmount together. We strongly believe that our country and our business will emerge from this crisis on stronger footing. We are grateful for your patience and support and hope that you remain safe and in positive spirits.

Robert Bellinger, President & CEO