INVESTMENT OPERATIONS REAL ESTATE, CONSULTANT, AND OTHER FEES
Real Estate Managers, Advisors & Partners Net Assets Managed at Fair Value Fees

   
Real Estate Advisors Asset Management Fees    
Andrew Miller Capital Advisors 726,030 2035
Eastern Shopping Center 609 2614
Lend Lease (538) 458
   
Total Real Estate Advisors Asset    
Management Fees $5,107
     
Real Estate Partners Asset Management Fees    
AEW Capital Management 53,333 448
Buchanan Street Advisors, LP 24,352 87
Campbell Group 406,563 3,346
Capri Capital Management 3,008 2
CIM Urban Fund Gp, LLC 2,217 1,875
CNL Net Lease Investors 138,622 526
CWP Capital Advisory, LLC 1,059,304 5,738
General Investment & Development 426,564 3,455
Global Innovation Partners 62,101 6,250
Great Eastern Timber Group 684,532 2,707
Hearthstone Housing Partners 17,522 935
Hines National Office Partnership 2,063,021 6,937
Infill Investments 30,226 104
Institutional Housing Partners 286,812 8,384
Johnson/MacFarlane 69,634 586
Kennedy Associates 65,049 258
La Salle 745,649 4,456
Lend Lease (EQK) 196,040 1,032
MacFarlane/Weyerhaeuser 43,451 2,309
National Retail Partners 758,546 4,899
Newland Capital Advisors 145,855 636
Olympic Realty Advisors 53,646 3,321
Pical 13,968 270
Residential 27,759 2,885
RREEF 2,397,354 12,651
SSR 533,481 2,190
UBS Brinson 48,089 80
Wells Fargo Housing Fund 16,340 1,272
Total Real Estate Partners Asset    
Management Fees $77,639
     
Real Estate Partnerships Operating Expenses
Administrative, Property Maintenance & Support, and Other
680,501
     
Total Real Estate Partners Asset $680,501
   
Real Estate Partners Incentive Fees 
  103,620
Total Real Estate Advisors & Partners Management & Performance Fees   $866,867
     
     
Other Investment Consultants 
  Fees
     
Consultant Fees    
Hamilton Lane Advisors, Inc.   171
KPMG 3,465
McKinsey & Company, Inc.   272
Miller, J. Sanford 50
Pacific Corporate Group, Inc.   106
Pacific Corporate Finance
306
Pacifie Gateway Group
98
Pension Consulting Alliance/  
891
  Ernst & Young Kenneth Leventhal Co.  
Pension Consulting Alliance   198
PricewaterhouseCoopers 153
Project International 115
R.V. Kuhns & Associates   105
State Street-Private Edge 640
Strategic Investment Solutions   77
Thomas Weisel Partners 90
Wilshire Associates   1,167
Total Consultant Fees   $7,905
     
     
Attorneys & Master Custodian    
Paul, Hastings, Janofsky & Walker   274
McDonough, Holland, & Allen   190
Pillsbury, Madison, Sutro   320
Hogan & Hartson 175
Foley & LA 25
Preston 450
Orrick 325
Christensen 159
State Street Bank and Trust Company   7,835
   
Total Attorney & Master Custodian Fees   $9,753
     
Total Other Investment Consultants   $17,659
   
Incentive Fees AIM Partnership Investment & Corporation Governance Limited Partnerships   $3,852
   
Internal Mortgage Loan Fees   $2,347
   
Miscellaneous Investment Expense   12,713
     
Total Investment Expenses   $1,069,008