UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-9117 ---------------------------------------------- Morgan Stanley Real Estate Fund - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 1221 Avenue of the Americas, New York, New York 10020 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Amy Doberman, Esq. Managing Director Morgan Stanley Investment Advisors Inc. 1221 Avenue of the Americas New York, New York 10020 - -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 800-869-6397 ----------------------------- Date of fiscal year end: 11/30 ---------------------- Date of reporting period: 7/1/05 - 6/30/06 --------------------- ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-09117 Reporting Period: 07/01/2005 - 06/30/2006 Morgan Stanley Real Estate Fund ======================= MORGAN STANLEY REAL ESTATE FUND ======================== ACADIA REALTY TRUST Ticker: AKR Security ID: 004239109 Meeting Date: MAY 15, 2006 Meeting Type: Annual Record Date: MAR 31, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Kenneth F. Bernstein For For Management 1.2 Elect Director Douglas Crocker, II For For Management 1.3 Elect Director Alan S. Forman For For Management 1.4 Elect Director Suzanne Hopgood For For Management 1.5 Elect Director Lorrence T. Kellar For For Management 1.6 Elect Director Wendy Luscombe For For Management 1.7 Elect Director Lee S. Wielansky For For Management 2 Approve Omnibus Stock Plan For For Management 3 Amend Declaration of Trust to Eliminate For For Management 4% Excess Share Provision 4 Ratify Auditors For For Management 5 Adjourn Meeting For Against Management - -------------------------------------------------------------------------------- AMB PROPERTY CORP. Ticker: AMB Security ID: 00163T109 Meeting Date: MAY 11, 2006 Meeting Type: Annual Record Date: MAR 7, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Hamid R. Moghadam For For Management 1.2 Elect Director W. Blake Baird For For Management 1.3 Elect Director Afsaneh M. Beschloss For For Management 1.4 Elect Director T. Robert Burke For For Management 1.5 Elect Director David A. Cole For For Management 1.6 Elect Director Lydia H. Kennard For For Management 1.7 Elect Director J. Michael Losh For For Management 1.8 Elect Director Frederick W. Reid For For Management 1.9 Elect Director Jeffrey L. Skelton For For Management 1.10 Elect Director Thomas W. Tusher For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- AMERICAN CAMPUS COMMUNITIES, INC. Ticker: ACC Security ID: 024835100 Meeting Date: MAY 11, 2006 Meeting Type: Annual Record Date: MAR 24, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director William C. Bayless, Jr. For For Management 1.2 Elect Director R.D. Burck For For Management 1.3 Elect Director G. Steven Dawson For For Management 1.4 Elect Director Cydney Donnell For For Management 1.5 Elect Director Michael J. Henneman For For Management 1.6 Elect Director Edward Lowenthal For For Management 1.7 Elect Director Brian B. Nickel For For Management 1.8 Elect Director Scott H. Rechler For For Management 1.9 Elect Director Winston W. Walker For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- ARCHSTONE SMITH TRUST Ticker: ASN Security ID: 039583109 Meeting Date: MAY 17, 2006 Meeting Type: Annual Record Date: MAR 27, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director James A. Cardwell For For Management 1.2 Elect Director Ernest A. Gerardi, Jr. For For Management 1.3 Elect Director Ruth Ann M. Gillis For For Management 1.4 Elect Director Ned S. Holmes For For Management 1.5 Elect Director Robert P. Kogod For For Management 1.6 Elect Director James H. Polk, III For For Management 1.7 Elect Director John M. Richman For For Management 1.8 Elect Director John C. Schweitzer For For Management 1.9 Elect Director R. Scot Sellers For For Management 1.10 Elect Director Robert H. Smith For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- ARDEN REALTY, INC. Ticker: ARI Security ID: 039793104 Meeting Date: APR 28, 2006 Meeting Type: Special Record Date: FEB 24, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Merger Agreement For For Management 2 Adjourn Meeting For For Management - -------------------------------------------------------------------------------- AVALONBAY COMMUNITIES, INC. Ticker: AVB Security ID: 053484101 Meeting Date: MAY 17, 2006 Meeting Type: Annual Record Date: MAR 8, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Bryce Blair For For Management 1.2 Elect Director Bruce A. Choate For For Management 1.3 Elect Director John J. Healy, Jr. For For Management 1.4 Elect Director Gilbert M. Meyer For For Management 1.5 Elect Director Timothy J. Naughton For For Management 1.6 Elect Director Lance R. Primis For For Management 1.7 Elect Director H. Jay Sarles For For Management 1.8 Elect Director Allan D. Schuster For For Management 1.9 Elect Director Amy P. Williams For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- BOSTON PROPERTIES INC. Ticker: BXP Security ID: 101121101 Meeting Date: MAY 3, 2006 Meeting Type: Annual Record Date: MAR 15, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director William M. Daley For For Management 1.2 Elect Director Edward H. Linde For For Management 1.3 Elect Director David A. Twardock For For Management 2 Declassify the Board of Directors Against Against Shareholder 3 Performance-Based Against Against Shareholder - -------------------------------------------------------------------------------- BRANDYWINE REALTY TRUST Ticker: BDN Security ID: 105368203 Meeting Date: DEC 21, 2005 Meeting Type: Special Record Date: NOV 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Issue Shares in Connection with an For For Management Acquisition - -------------------------------------------------------------------------------- BRANDYWINE REALTY TRUST Ticker: BDN Security ID: 105368203 Meeting Date: MAY 2, 2006 Meeting Type: Annual Record Date: MAR 23, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Walter D'Alessio For For Management 1.2 Elect Director D. Pike Aloian For For Management 1.3 Elect Director Thomas F. August For For Management 1.4 Elect Director Donald E. Axinn For For Management 1.5 Elect Director Wyche Fowler For For Management 1.6 Elect Director Michael J. Joyce For For Management 1.7 Elect Director Anthony A. Nichols Sr. For For Management 1.8 Elect Director Michael V. Prentiss For For Management 1.9 Elect Director Charles P. Pizzi For For Management 1.10 Elect Director Gerard H. Sweeney For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- BRE PROPERTIES, INC. Ticker: BRE Security ID: 05564E106 Meeting Date: MAY 4, 2006 Meeting Type: Annual Record Date: MAR 15, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert A. Fiddaman For For Management 1.2 Elect Director Roger P. Kuppinger For For Management 1.3 Elect Director Irving F. Lyons, III For For Management 1.4 Elect Director Edward E. Mace For For Management 1.5 Elect Director Christopher J. Mcgurk For For Management 1.6 Elect Director Matthew T. Medeiros For For Management 1.7 Elect Director Constance B. Moore For For Management 1.8 Elect Director Jeanne R. Myerson For For Management 1.9 Elect Director Gregory M. Simon For For Management 2 Amend Non-Employee Director Omnibus Stock For For Management Plan 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- BROOKFIELD PROPERTIES CORP. Ticker: BPO. Security ID: 112900105 Meeting Date: APR 26, 2006 Meeting Type: Annual Record Date: MAR 15, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Mr. Gordon E. Arnell For For Management 1.2 Elect Director Mr. William T. Cahill For For Management 1.3 Elect Director Mr. Richard B. Clark For For Management 1.4 Elect Director Mr. Jack L. Cockwell For For Management 1.5 Elect Director Mr. J. Bruce Flatt For For Management 1.6 Elect Director Mr. Roderick D. Fraser For For Management 1.7 Elect Director Mr. Paul D. McFarlane For For Management 1.8 Elect Director Mr. Allan S. Olson For For Management 1.9 Elect Director Mr. Sam Pollock For For Management 1.10 Elect Director Ms. Linda D. Rabbitt For For Management 1.11 Elect Director Mr. Robert L. Stelzl For For Management 1.12 Elect Director Mr. William C. Wheaton For For Management 1.13 Elect Director Mr. John E. Zuccotti For For Management 2 Approve Deloitte and Touche as Auditors For For Management and Authorize Board to Fix Remuneration of Auditors - -------------------------------------------------------------------------------- CATELLUS DEVELOPMENT CORP. Ticker: CDX Security ID: 149113102 Meeting Date: SEP 14, 2005 Meeting Type: Special Record Date: AUG 8, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Merger Agreement For For Management - -------------------------------------------------------------------------------- CEDAR SHOPPING CENTERS, INC. Ticker: CDR Security ID: 150602209 Meeting Date: JUN 13, 2006 Meeting Type: Annual Record Date: APR 21, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director James J. Burns For For Management 1.2 Elect Director Richard Homburg For For Management 1.3 Elect Director Paul G. Kirk, Jr. For For Management 1.4 Elect Director Everett B. Miller, III For For Management 1.5 Elect Director Leo S. Ullman For For Management 1.6 Elect Director Brenda J. Walker For For Management 1.7 Elect Director Roger M. Widmann For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CENTRACORE PROPERTIES TRUST Ticker: CPV Security ID: 15235H107 Meeting Date: APR 27, 2006 Meeting Type: Annual Record Date: MAR 13, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Clarence E. Anthony For For Management 1.2 Elect Director Donna Arduin For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- COGDELL SPENCER INC Ticker: CSA Security ID: 19238U107 Meeting Date: MAY 4, 2006 Meeting Type: Annual Record Date: MAR 22, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director James W. Cogdell For For Management 1.2 Elect Director Richard B. Jennings For For Management 1.3 Elect Director Richard C. Neugent For For Management 1.4 Elect Director Frank C. Spencer For For Management 1.5 Elect Director Christopher E. Lee For For Management 1.6 Elect Director Randolph D. Smoak, Md For For Management 1.7 Elect Director John R. Georgius For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- EQUITY LIFESTYLE PROPERTIES INC Ticker: ELS Security ID: 29472R108 Meeting Date: MAY 3, 2006 Meeting Type: Annual Record Date: MAR 10, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Donald S. Chisholm For For Management 1.2 Elect Director Thomas E. Dobrowski For For Management 1.3 Elect Director Thomas P. Heneghan For For Management 1.4 Elect Director Philip C. Calian For For Management 1.5 Elect Director Sheli Z. Rosenberg For For Management 1.6 Elect Director Howard Walker For For Management 1.7 Elect Director Gary L. Waterman For For Management 1.8 Elect Director Samuel Zell For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- EQUITY OFFICE PROPERTIES TRUST Ticker: EOP Security ID: 294741103 Meeting Date: MAY 24, 2006 Meeting Type: Annual Record Date: MAR 31, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Marilyn Alexander For For Management 1.2 Elect Director Thomas E. Dobrowski For For Management 1.3 Elect Director William M. Goodyear For For Management 1.4 Elect Director James D. Harper, Jr. For For Management 1.5 Elect Director Richard D. Kincaid For For Management 1.6 Elect Director Sheil Z. Rosenberg For For Management 1.7 Elect Director Stephen I. Sadove For For Management 1.8 Elect Director Sally Susman For For Management 1.9 Elect Director Jan H.W.R. van der Vlist For For Management 1.10 Elect Director Samuel Zell For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- EQUITY RESIDENTIAL Ticker: EQR Security ID: 29476L107 Meeting Date: MAY 25, 2006 Meeting Type: Annual Record Date: MAR 31, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John W. Alexander For For Management 1.2 Elect Director Charles L. Atwood For For Management 1.3 Elect Director Stephen O. Evans For For Management 1.4 Elect Director James D. Harper, Jr. For For Management 1.5 Elect Director Boone A. Knox For For Management 1.6 Elect Director David J. Neithercut For For Management 1.7 Elect Director Desiree G. Rogers For For Management 1.8 Elect Director Sheli Z. Rosenberg For For Management 1.9 Elect Director Gerald A. Spector For For Management 1.10 Elect Director B. Joseph White For For Management 1.11 Elect Director Samuel Zell For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- ESSEX PROPERTY TRUST, INC. Ticker: ESS Security ID: 297178105 Meeting Date: MAY 9, 2006 Meeting Type: Annual Record Date: FEB 28, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director George M. Marcus For For Management 1.2 Elect Director Gary P. Martin For For Management 1.3 Elect Director William A. Millichap For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- FEDERAL REALTY INVESTMENT TRUST Ticker: FRT Security ID: 313747206 Meeting Date: MAY 3, 2006 Meeting Type: Annual Record Date: MAR 14, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Walter F. Loeb For For Management 1.2 Elect Director Joseph S. Vassalluzzo For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- FOREST CITY ENTERPRISES, INC. Ticker: FCE.A Security ID: 345550107 Meeting Date: JUN 15, 2006 Meeting Type: Annual Record Date: APR 17, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Michael P. Esposito, Jr. For For Management 1.2 Elect Director Joan K. Shafran For For Management 1.3 Elect Director Louis Stokes For For Management 1.4 Elect Director Stan Ross For For Management 2 Increase Authorized Common Stock For For Management 3 Increase Authorized Common Stock For For Management 4 Company Specific-Eliminate Class Voting For For Management Rights 5 Eliminate Reference to Common Stock For For Management Preference Dividend 6 Increase Authorized Preferred Stock For For Management 7 Authorize Board to Set Terms of Preferred For For Management 8 Modernization of the Existing Regulations For For Management in light of changes to the Ohio General Corporation Law 9 Company Specific--Establishment of the For For Management size of the Board of Directors by shareholders 10 Amend Nomination Procedures for the Board For For Management 11 Amend Articles/Bylaws/Charter-Non-Routine For For Management 12 Amend Director and Officer For For Management Indemnification/Liability Provisions 13 Company Specific-Issuance of For For Management Uncertificated Shares 14 Ratify Auditors For For Management - -------------------------------------------------------------------------------- FOUR SEASONS HOTELS INC. Ticker: FSH. Security ID: 35100E104 Meeting Date: MAY 17, 2006 Meeting Type: Annual/Special Record Date: APR 10, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Elect Directors Nan-b de Gaspe Beaubien For For Management and J. Robert S. Prichard 2 Elect Directors William D. Anderson, For For Management Brent Belzberg, H. Roger Garland, Charles S. Henry, Heather Munroe-Blum, Ronald W. Osborne, Lionel H. Schipper, Isadore Sharp, Anthony Sharp and Simon M. Turner 3 Approve KPMG LLP as Auditors and For For Management Authorize Board to Fix Remuneration of Auditors 4 Approve Multiple Classes of Stock/Same For Against Management Voting Rights - -------------------------------------------------------------------------------- GENERAL GROWTH PROPERTIES, INC. Ticker: GGP Security ID: 370021107 Meeting Date: MAY 16, 2006 Meeting Type: Annual Record Date: APR 3, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Adam Metz For For Management 1.2 Elect Director Robert Michaels For For Management 1.3 Elect Director Thomas Nolan For For Management 1.4 Elect Director John Riordan For For Management 2 Amend Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- HEALTH CARE PROPERTY INVESTORS, INC. Ticker: HCP Security ID: 421915109 Meeting Date: MAY 11, 2006 Meeting Type: Annual Record Date: MAR 23, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Mary A Cirillo-Goldberg For For Management 1.2 Elect Director Robert R. Fanning, Jr. For For Management 1.3 Elect Director James F. Flaherty III For For Management 1.4 Elect Director David B. Henry For For Management 1.5 Elect Director Michael D. Mckee For Withhold Management 1.6 Elect Director Harold M. Messmer, Jr. For For Management 1.7 Elect Director Peter L. Rhein For For Management 1.8 Elect Director Kenneth B. Roath For For Management 1.9 Elect Director Richard M. Rosenberg For For Management 1.10 Elect Director Joseph P. Sullivan For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management 4 Other Business For Against Management - -------------------------------------------------------------------------------- HERSHA HOSPITALITY TRUST Ticker: HT Security ID: 427825104 Meeting Date: MAY 25, 2006 Meeting Type: Annual Record Date: MAR 31, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Donald J. Landry For For Management 1.2 Elect Director Thomas S. Capello For For Management 1.3 Elect Director Jay H. Shah For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- HILTON HOTELS CORP. Ticker: HLT Security ID: 432848109 Meeting Date: MAY 24, 2006 Meeting Type: Annual Record Date: MAR 29, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Christine Garvey For For Management 1.2 Elect Director Peter M. George For For Management 1.3 Elect Director Barron Hilton For For Management 1.4 Elect Director John L. Notter For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Election Against Against Shareholder of Directors 4 Submit Shareholder Rights Plan (Poison Against For Shareholder Pill) to Shareholder Vote - -------------------------------------------------------------------------------- HOST HOTELS & RESORTS INC. Ticker: HST Security ID: 44107P104 Meeting Date: APR 5, 2006 Meeting Type: Special Record Date: FEB 22, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Issue Shares in Connection with an For For Management Acquisition - -------------------------------------------------------------------------------- HOST HOTELS & RESORTS INC. Ticker: HST Security ID: 44107P104 Meeting Date: MAY 18, 2006 Meeting Type: Annual Record Date: MAR 29, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert M. Baylis For For Management 1.2 Elect Director Terence C. Golden For Withhold Management 1.3 Elect Director Ann M. Korologos For For Management 1.4 Elect Director Richard E. Marriott For For Management 1.5 Elect Director Judith A. Mchale For For Management 1.6 Elect Director John B. Morse, Jr. For For Management 1.7 Elect Director Christopher J. Nassetta For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Election For For Shareholder of Directors - -------------------------------------------------------------------------------- LIBERTY PROPERTY TRUST Ticker: LRY Security ID: 531172104 Meeting Date: MAY 18, 2006 Meeting Type: Annual Record Date: MAR 14, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director William P. Hankowsky For For Management 1.2 Elect Director David L. Lingerfelt For For Management 1.3 Elect Director Jose A. Mejia For For Management 1.4 Elect Director John A . Miller For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- LTC PROPERTIES, INC. Ticker: LTC Security ID: 502175102 Meeting Date: MAY 4, 2006 Meeting Type: Annual Record Date: MAR 22, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Andre C. Dimitriadis For For Management 1.2 Elect Director Boyd W. Hendrickson For For Management 1.3 Elect Director Edmund C. King For For Management 1.4 Elect Director Wendy L. Simpson For For Management 1.5 Elect Director Timothy J. Triche, M.D. For For Management 1.6 Elect Director Sam Yellen For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- MACERICH CO., THE Ticker: MAC Security ID: 554382101 Meeting Date: JUN 1, 2006 Meeting Type: Annual Record Date: MAR 14, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Arthur M. Coppola For For Management 1.2 Elect Director James S. Cownie For For Management 1.3 Elect Director Mace Siegel For For Management 2 Ratify Auditors For For Management 3 Performance-Based and/or Time Based Against Against Shareholder Equity Awards - -------------------------------------------------------------------------------- MACK-CALI REALTY CORP. Ticker: CLI Security ID: 554489104 Meeting Date: MAY 24, 2006 Meeting Type: Annual Record Date: APR 7, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John R. Cali For For Management 1.2 Elect Director Mitchell E. Hersh For For Management 1.3 Elect Director Irvin D. Reid For For Management 1.4 Elect Director Robert F. Weinberg For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Election Against For Shareholder of Directors - -------------------------------------------------------------------------------- MERISTAR HOSPITALITY CORPORATION Ticker: MHX Security ID: 58984Y103 Meeting Date: APR 27, 2006 Meeting Type: Special Record Date: MAR 17, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Merger Agreement For For Management - -------------------------------------------------------------------------------- PARKWAY PROPERTIES, INC. Ticker: PKY Security ID: 70159Q104 Meeting Date: MAY 4, 2006 Meeting Type: Annual Record Date: MAR 21, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Daniel P. Friedman For For Management 1.2 Elect Director Roger P. Friou For For Management 1.3 Elect Director Martin L. Garcia For For Management 1.4 Elect Director Matthew W. Kaplan For For Management 1.5 Elect Director Michael J. Lipsey For For Management 1.6 Elect Director Joe F. Lynch For For Management 1.7 Elect Director Steven G. Rogers For For Management 1.8 Elect Director Leland R. Speed For For Management 1.9 Elect Director Lenore M. Sullivan For For Management 2 Approve Nonqualified Employee Stock For For Management Purchase Plan 3 Ratify Auditors For For Management 4 Other Business For Against Management - -------------------------------------------------------------------------------- POST PROPERTIES, INC. Ticker: PPS Security ID: 737464107 Meeting Date: MAY 18, 2006 Meeting Type: Annual Record Date: MAR 27, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert C. Goddard, III For For Management 1.2 Elect Director David P. Stockert For For Management 1.3 Elect Director Herschel M. Bloom For For Management 1.4 Elect Director Douglas Crocker, II For For Management 1.5 Elect Director Walter M. Deriso, Jr. For For Management 1.6 Elect Director Russell R. French For For Management 1.7 Elect Director Nicholas B. Paumgarten For For Management 1.8 Elect Director Charles E. Rice For For Management 1.9 Elect Director Stella F. Thayer For For Management 1.10 Elect Director Ronald de Waal For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Election Against Against Shareholder of Directors - -------------------------------------------------------------------------------- PRENTISS PROPERTIES TRUST Ticker: PP Security ID: 740706106 Meeting Date: DEC 21, 2005 Meeting Type: Special Record Date: NOV 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Merger Agreement For For Management - -------------------------------------------------------------------------------- PROLOGIS Ticker: PLD Security ID: 743410102 Meeting Date: MAY 26, 2006 Meeting Type: Annual Record Date: MAR 16, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director K. Dane Brooksher For For Management 1.2 Elect Director Stephen L. Feinberg For For Management 1.3 Elect Director George L. Fotiades For For Management 1.4 Elect Director Christine N. Garvey For For Management 1.5 Elect Director Donald P. Jacobs For For Management 1.6 Elect Director Walter C. Rakowich For For Management 1.7 Elect Director Nelson C. Rising For For Management 1.8 Elect Director Jeffrey H. Schwartz For For Management 1.9 Elect Director D. Michael Steuert For For Management 1.10 Elect Director J. Andre Teixeira For For Management 1.11 Elect Director William D. Zollars For For Management 1.12 Elect Director Andrea M. Zulberti For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management 4 Other Business For Against Management - -------------------------------------------------------------------------------- PROLOGIS Ticker: PLD Security ID: 743410102 Meeting Date: SEP 14, 2005 Meeting Type: Special Record Date: AUG 8, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Issue Shares in Connection with an For For Management Acquisition - -------------------------------------------------------------------------------- RAMCO-GERSHENSON PROPERTIES TRUST Ticker: RPT Security ID: 751452202 Meeting Date: JUN 14, 2006 Meeting Type: Annual Record Date: APR 18, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee Stephen R. Blank For For Management 1.2 Elect Trustee Joel M. Pashcow For For Management 1.3 Elect Trustee Michael A. Ward For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- RECKSON ASSOCIATES REALTY CORP. Ticker: RA Security ID: 75621K106 Meeting Date: MAY 25, 2006 Meeting Type: Annual Record Date: MAR 21, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Scott H. Rechler For For Management 1.2 Elect Director Michael Maturo For For Management 1.3 Elect Director Douglas Crocker, II For For Management 1.4 Elect Director Elizabeth McCaul For For Management 1.5 Elect Director Ronald H. Menaker For For Management 1.6 Elect Director Peter Quick For For Management 1.7 Elect Director Lewis S. Ranieri For For Management 1.8 Elect Director John F. Ruffle For For Management 1.9 Elect Director Stanley Steinberg For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- REGENCY CENTERS CORP. Ticker: REG Security ID: 758849103 Meeting Date: MAY 2, 2006 Meeting Type: Annual Record Date: MAR 17, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Martin E. Stein, Jr. For For Management 1.2 Elect Director Raymond L. Bank For For Management 1.3 Elect Director C. Ronald Blankenship For For Management 1.4 Elect Director A.R. Carpenter For For Management 1.5 Elect Director J. Dix Druce For For Management 1.6 Elect Director Mary Lou Fiala For For Management 1.7 Elect Director Bruce M. Johnson For For Management 1.8 Elect Director Douglas S. Luke For For Management 1.9 Elect Director John C. Schweitzer For For Management 1.10 Elect Director Thomas G. Wattles For For Management 1.11 Elect Director Terry N. Worrell For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- REPUBLIC PROPERTY TRUST Ticker: RPB Security ID: 760737106 Meeting Date: JUN 14, 2006 Meeting Type: Annual Record Date: APR 18, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee John S. Chalsty For For Management 1.2 Elect Trustee Steven A. Grigg For For Management 1.3 Elect Trustee Mark R. Keller For For Management 1.4 Elect Trustee Richard L. Kramer For For Management 1.5 Elect Trustee Ronald J. Kramer For For Management 1.6 Elect Trustee Gregory H. Leisch For For Management 1.7 Elect Trustee Ronald D. Paul For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- SENIOR HOUSING PROPERTIES TRUST Ticker: SNH Security ID: 81721M109 Meeting Date: MAY 9, 2006 Meeting Type: Annual Record Date: MAR 16, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Frank J. Bailey For For Management 1.2 Elect Director Barry M. Portnoy For For Management - -------------------------------------------------------------------------------- SIMON PROPERTY GROUP, INC. Ticker: SPG Security ID: 828806109 Meeting Date: MAY 11, 2006 Meeting Type: Annual Record Date: MAR 9, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Birch Bayh For For Management 1.2 Elect Director Melvyn E. Bergstein For For Management 1.3 Elect Director Linda Walker Bynoe For For Management 1.4 Elect Director Karen N. Horn, Ph.D. For For Management 1.5 Elect Director Reuben S. Leibowitz For For Management 1.6 Elect Director J. Albert Smith, Jr. For For Management 1.7 Elect Director Pieter S. van den Berg For For Management 2 Amend Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management 4 Require a Majority Vote for the Election Against Against Shareholder of Directors - -------------------------------------------------------------------------------- SL GREEN REALTY CORP. Ticker: SLG Security ID: 78440X101 Meeting Date: MAY 17, 2006 Meeting Type: Annual Record Date: MAR 15, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director John H. Alschuler, Jr. For For Management 1.2 Elect Director Stephen L. Green For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- STARWOOD HOTELS & RESORTS WORLDWIDE, INC. Ticker: HOT Security ID: 85590A203 Meeting Date: MAY 2, 2006 Meeting Type: Annual Record Date: MAR 14, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Steven J. Heyer For For Management 1.2 Elect Director Charlene Barshefsky For For Management 1.3 Elect Director Jean-Marc Chapus For For Management 1.4 Elect Director Bruce W. Duncan For For Management 1.5 Elect Director Lizanne Galbreath For For Management 1.6 Elect Director Eric Hippeau For For Management 1.7 Elect Director Stephen R. Quazzo For For Management 1.8 Elect Director Thomas O. Ryder For For Management 1.9 Elect Director Daniel W. Yih For For Management 1.10 Elect Director Kneeland C. Youngblood For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- TAUBMAN CENTERS, INC. Ticker: TCO Security ID: 876664103 Meeting Date: MAY 15, 2006 Meeting Type: Annual Record Date: MAR 23, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director William S. Taubman For For Management 1.2 Elect Director Graham T. Allison For For Management 1.3 Elect Director Peter Karmanos, Jr. For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- TRIZEC PROPERTIES, INC. Ticker: TRZ Security ID: 89687P107 Meeting Date: MAY 18, 2006 Meeting Type: Annual Record Date: MAR 20, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Peter Munk For For Management 1.2 Elect Director Timothy Callahan For For Management 1.3 Elect Director L. Jay Cross For For Management 1.4 Elect Director Brian Mulroney For For Management 1.5 Elect Director James O'Connor For For Management 1.6 Elect Director Glenn Rufrano For For Management 1.7 Elect Director Richard Thomson For For Management 1.8 Elect Director Polyvios Vintiadis For For Management 2 Approve Nonqualified Employee Stock For For Management Purchase Plan 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- UNITED DOMINION REALTY TRUST, INC. Ticker: UDR Security ID: 910197102 Meeting Date: MAY 2, 2006 Meeting Type: Annual Record Date: MAR 17, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Katherine A. Cattanach For For Management 1.2 Elect Director Eric J. Foss For For Management 1.3 Elect Director Robert P. Freeman For For Management 1.4 Elect Director Jon A. Grove For For Management 1.5 Elect Director James D. Klingbeil For For Management 1.6 Elect Director Robert C. Larson For For Management 1.7 Elect Director Thomas R. Oliver For For Management 1.8 Elect Director Lynne B. Sagalyn For For Management 1.9 Elect Director Mark J. Sandler For For Management 1.10 Elect Director Thomas W. Toomey For For Management 1.11 Elect Director Thomas C. Wajnert For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- UNIVERSAL HEALTH REALTY INCOME TRUST Ticker: UHT Security ID: 91359E105 Meeting Date: JUN 1, 2006 Meeting Type: Annual Record Date: APR 21, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director James E. Dalton, Jr For For Management 2 Separate Chairman and CEO Positions Against Against Shareholder - -------------------------------------------------------------------------------- VORNADO REALTY TRUST Ticker: VNO Security ID: 929042109 Meeting Date: MAY 18, 2006 Meeting Type: Annual Record Date: APR 14, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Steven Roth For For Management 1.2 Elect Director Michael D. Fascitelli For For Management 1.3 Elect Director Russell B. Wright, Jr. For For Management 2 Amend Omnibus Stock Plan For Against Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- WINDROSE MEDICAL PROPERTIES TRUST Ticker: WRS Security ID: 973491103 Meeting Date: MAY 18, 2006 Meeting Type: Annual Record Date: MAR 20, 2006 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert L. Bowen For For Management 1.2 Elect Director Bruce M. Jacobson For Withhold Management 1.3 Elect Director Bryan A. Mills For For Management 2 Declassify the Board of Directors For For Management 3 Amend Omnibus Stock Plan For For Management 4 Approve Qualified Employee Stock Purchase For For Management Plan 5 Ratify Auditors For For Management - -------------------------------------------------------------------------------- WYNDHAM INTERNATIONAL, INC. Ticker: WBR Security ID: 983101106 Meeting Date: AUG 11, 2005 Meeting Type: Annual Record Date: JUN 15, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Merger Agreement For For Management 2 Approve Recapitalization Plan For For Management 3.1 Elect Director Karim Alibhai For For Management 3.2 Elect Director Leonard Boxer For Withhold Management 3.3 Elect Director Adela Cepeda For For Management 3.4 Elect Director Milton Fine For For Management 3.5 Elect Director Fred J. Kleisner For For Management 3.6 Elect Director Rolf E. Ruhfus For For Management 3.7 Elect Director Lynn C. Swann For For Management 3.8 Elect Director Sherwood M. Weiser For For Management 3.9 Elect Director Marc A. Beilinson For For Management 3.10 Elect Director Lee Hillman For For Management 3.11 Elect Director Lawrence J. Ruisi For For Management 4 Ratify Auditors For For Management ========== END NPX REPORT SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant): Morgan Stanley Real Estate Fund -------------------------------- By (Signature and Title): /s/ Ronald E. Robison President and Principal Executive Officer - Office of the Funds --------------------------------------------------------------- Date August 28, 2006 --------------- 2
