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Real Estate Consultants and Other Fees Report
  Real Estate Partners Asset Management Fees Net Assets
Managed at Fair Value
Fees
(Dollars in Thousands)
  Aetos Capital Asia $189,912 $4,354
  AEW Capital Management 83,184 2,299
  AGI - TMG Housing Partners, LLC 9,446 625
  Alinda Infrastructure 29,133 1,401
  American Value Partners -1,757 840
  Apollo Real Estate Advisers 51,377 5,923
  Black Bear, LTD  28,519 2,996
  Buchanan Street Advisors, LP 246,491 1,710
  Caleast La Salle 3,577,918 19,508
  Calsmart, LLC 274,588 1,913
  Calwest RREEF 384,564 24,924
  Capmark Structured Real Estate Partners 45,192 777
  Capri Capital Management 143,544 1,234
  CBRE Strategic Partners 75,594 2,547
  CIM Urban Fund Gp, LLC 648,584 12,452
  CityView America Fund I, LLC 77,996 5,602
  CVE Affordable Housing 934 2
  CWP - Bishop Square 139,711 769
  Fifth Street Properties CWP  145,243 3,263
  Fillmore East Fund 50,473 183
  Fortress Investment Fund 233,371 1,779
  Global Innovation Partners 513,923 1,546
  Global Retail Investors, LLC 5,687 41
  Guggenheim 58,631 2,002
  Hampshire 47,751 606
  Harbert European 7,626 1,306
  Hearthstone Housing Partners 226,581 3,334
  Hines National Office Partnership - includes Int'l 46,178 6,403
  Institutional Housing Partners  509,750 10,348
  IL & FS India 27,660 1,833
  Institutional Mall Investors, LLC  1,691,557 11,166
  Integral Urban (1,215) 528
  JER Europe Fund III (2,075) 97
  Johnson Macfarland Partners 349,543 3,683
  Karec CA Development 95,605 896
  Kennedy Wilson 14,009 592
  KSC 38,701 347
  La Salle French Fund II 10,850 296
  Lowe Resort Community Fund 474 308
  Market Street Capital Partners 12,988 757
  Meriweather Farms  66,599 886
  MGP 117,419 1,622
  MW 326,377 55,212
  National Office Partners 808,332 5,472
  Next Block Medical I 20,280 1,250
  Olson Urban Housing LLC 33,234 119
  Ora Multi-Family Investment I 41,381 2,093
  Ora Residential Investments 84,803 7,248
  Pacific Vinyard 80,538 1,242
  Pacific City Homes (PCH) 60,847 6,663
  Page Mill Properties (9,835) 1,165
  PLA 92,390 3,251
  PRECO 32,966 750
  Principle Mortgage Value Investors Fund 3,614 295
  RE Senior Housing SHP 217,898 2,805
  RLJ Urban Lodging 78,690 2,776
  Rockpoint Group, LLC 37,153 753
  RREEF GBL Opportunity Fund 73,455 1,988
  San Diego Smart Growth 14,393 3,207
  Savanna Real Estate Fund (863) 479
  SDL Hospitality 92,355 1,095
  Secure Capital - Japan 112,337 4,781
  Shea (Capital/Mountain) 124,489 16,261
  Starwood Capital Hospitality Fund I 142,137 1,010
  Stockbridge Real Estate 13,941 803
  Strategic Capital Partners, LLC 11,982 1,158
  Sun Appolo India Real Estate Fund (1,462) 888
  Timber International - UBS 145,045 1,095
  TPG Hospitality Investments 140,841 84
  Urban America, LP 9,056 832
  Western Multifamily 2,835,960 10,759
  Windsor Realty 138,231 1,072
  Wells Fargo Housing Fund  48,503 2,577
Total Real Estate Partners Asset Management Fees   $282,881
     
Real Estate Partners Incentive Fees   215,009
     
Credit Enhancement Program   243
     
AIM Distributed Stock Management Fees   1,240
     
Internal Mortgage Loan Fees   1,165
     
Total Real Estate Partners, AIM, Mortgages & CEP   $500,538
Other Investment Consultants    
Consultant Fees Fees
(Dollars in Thousands)
  Altman Group Inc.  $           134
  Altura Capital Group 10
  Bard Consulting 75
  Blackrock Financial Management, Inc. 2,311
  Blomquist & Company 32
  Brock Capital Group LLC 50
  Corporate Library LLC 38
  Courtland Partners, LTD 30
  Eagle Management Group 15
  Ed Friend Inc 95
  Embassy Suites Hotel - Monterey Bay 8
  Eva Dimensions LLC 43
  Fan Asset Management 30
  Fitch Training 19
  Garland Associates, Inc. 38
  Hamilton Lane Advisors 400
  Innovest Strategic Value Advisors 50
  Ivy Planning Group LLC 25
  JDM Associates LLC 50
  Kearnford Applications System Design 193
  KPMG LLC 45
  Le Plastrier Consulting Group, Inc 210
  LP Capital Advisors 3,321
  Mayer Hoffman McCann 19
  McKinsey & Company Inc 1,109
  Mellon Investor Services 90
  Mosaic Investment Advisors 105
  Org Portfolio Management LLC 47
  Oxford Analyticia 62
  Pacific Corporate Group LLC 958
  Pacific Community Ventures 240
  Parent Contract/AIM Vendor Pool 130
  Parent Invt Corp Governance Research 44
  Parent Invt Corp Governance Proxy 265
  Parent Invt Diversity Consultant 1
  Parent Invt/HRD Executive Search 923
  Parent Invt RE/Special Project 641
  Pension Consulting Alliance, INC 1,587
  Pyramid Technical Consultants, LLC 336
  R.V. Kuhns & Associates, Inc 72
  Results Group 59
  R & G Associates, Inc 25
  Ridgeway Partners, LLC  298
  Runyon, Saltzman & Einhorn Inc 163
  Schweser/Kaplan CPA EDU 25
  Situs Realty Services 347
  Softsol Resources, Inc. 75
  Stanfield Systems, Inc. 642
  State Street - Private Edge 283
  Strategic Investment Solutions, Inc. 277
  Trinity Technology Group, Inc. 849
  Trucost PLC 30
  Westwood Consulting Group 13
  Wilshire Associates Inc.   3,454
Total Consultant Fees   $20,391

 

Attorneys & Master Custodian Fees
(Dollars in Thousands)
  Berman, Devalerio, Pease, Tabacco, Burt & P  $          16
  Bingham McCrutchen 34
  Chapman and Cutler LLP 441
  Christensen, Miller, Fink, Jacobs, Glaser 146
  Covington & Burling 277
  Cox, Castle & Nicholson, LLP 1,311
  Felderstein, Willoughby, Pascuzzi, LLP  14
  Foster, Pepper & Shefelman PLLC 239
  Gardner, Carton, & Douglas LLP                                              19
  Investor Responsibility Support Services Inc 45
  McDonough, Holland, & Allen 575
  Morgan Lewis 1,292
  Murphy, Austin, Adams & Schoenfeld LLP 247
  Orrick, Herrington, & Sutcliffe LLP 72
  Paul, Hastings, Janofsky & Walker 501
  Pillsbury Winthrop 1,450
  Preston, Gates & Ellis 1,225
  Tory's LLP 77
  State Street Bank and Trust Company    6,702
Total Attorney & Master Custodian Fees   $14,683
     
Total Other Investment Consultants   35,074
     
Miscellaneous Investment Expense   75,701
     
Directed Brokerage Expense   2,290
     
Total Investment Expenses - PERF   $754,139
Total Investment Expenses Other Funds   Fees
(Dollars in Thousands)
Brown Capital Management - IRC 457    
CalPERS Management Services - IRC 457    
CitiStreet - IRC 457    
Calif. Dept. of Personnel Admin. - IRC 457    
State Street Global Advisors - SPOFF    
Total Investment Expenses - All Funds   $754,139