EFTA Document EFTA01374656

CONCLUSION • RXR believes that it is uniquely positioned in the New York metropolitan area real estate market, given its rank as one of Manhattan's largest landowners, its multi-disciplined, fully- integrated platform, management experience and Power of Local competitive advantage • Because of its understanding of the New York Metropolitan area real estate market, RXR employed its Emerging Submarket Strategy to be an early mover in peripheral submarkets • RXR's ESM Strategy investmen