How to angle bottom of one word and top of another in Illustrator

Hello,

Noob question but I cannot figure out how to do this. I want to angle the bottom of a word, and the top of another, so they have a similar treatment like the example here. I thought arc'ing would do it, however I can only get it to arc both the top and bottom of each word. Not just one side. I have tried to figure this out for far too long... can anyone suggest the right way to achieve something like this?

Thanks!