Versus Capital Multi-Manager Real Estate Income Fund (VCMIX) N-PX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORMN-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number                 811-22534                                        

           Versus Capital Multi-Manager Real Estate Income Fund LLC         

(Exact name of registrant as specified in charter)

5555 DTC Parkway, Suite 330

                                           Greenwood Village, CO 80111                                           

(Address of principal executive offices) (Zip code)

Mark D. Quam

c/o Versus Capital Advisors LLC

5555 DTC Parkway, Suite 330

                                               Greenwood Village, CO 80111                                        

(Name and address of agent for service)

COPY TO:

Alan Hoffman, Esq.

Winston & Strawn LLP

200 Park Avenue

New York, New York 10166-4193

Registrant’s telephone number, including area code: (877)200-1878

Date of fiscal year end: March 31

Date of reporting period: July 1, 2018– June 30, 2019

FormN-PX is to be used by a registered management investment company, other than a small business investment company registered on FormN-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant’s proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule30b1-4 thereunder (17 CFR270.30b1-4). The Commission may use the information provided on FormN-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by FormN-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained inForm N-PX unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

PROXY VOTING RECORD

FOR PERIOD JULY 1, 2018 TO JUNE 30, 2019

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

NewRiver REIT plc

Meeting Date:07/04/2018	Country:Guernsey	Primary Security ID:G64950101
Record Date:07/02/2018	Meeting Type:Annual	Ticker:NRR
	Shares Voted:483,105

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Remuneration Report	Mgmt	For	For	For
3	Re-elect Paul Roy as Director	Mgmt	For	For	For
4	Re-elect David Lockhart as Director	Mgmt	For	For	For
5	Re-elect Allan Lockhart as Director	Mgmt	For	For	For
6	Re-elect Mark Davies as Director	Mgmt	For	For	For
7	Re-elect Kay Chaldecott as Director	Mgmt	For	For	For
8	Re-elect Alastair Miller as Director	Mgmt	For	For	For
9	Elect Margaret Ford as Director	Mgmt	For	For	For
10	Ratify Deloitte LLP as Auditors	Mgmt	For	For	For
11	Authorise the Audit Committee to Fix Remuneration of Auditors	Mgmt	For	For	For
12	Authorise Issue of Equity withPre-emptive Rights	Mgmt	For	For	For
13	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For
14	Authorise Issue of Equity withoutPre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For
15	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For
16	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For

Healthcare Trust of America, Inc.

Meeting Date:07/09/2018	Country:USA	Primary Security ID:42225P501
Record Date:04/20/2018	Meeting Type:Annual	Ticker:HTA

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Healthcare Trust of America, Inc.

Shares Voted:40,487

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Scott D. Peters	Mgmt	For	For	For
1b	Elect Director W. Bradley Blair, II	Mgmt	For	Against	Against
1c	Elect Director Vicki U. Booth	Mgmt	For	For	For
1d	Elect Director Roberta B. Bowman	Mgmt	For	For	For
1e	Elect Director Maurice J. DeWald	Mgmt	For	Against	Against
1f	Elect Director Warren D. Fix	Mgmt	For	For	For
1g	Elect Director Peter N. Foss	Mgmt	For	Against	Against
1h	Elect Director Daniel S. Henson	Mgmt	For	For	For
1i	Elect Director Larry L. Mathis	Mgmt	For	Against	Against
1j	Elect Director Gary T. Wescombe	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

LondonMetric Property Plc

Meeting Date:07/11/2018	Country:United Kingdom	Primary Security ID:G5689W109
Record Date:07/09/2018	Meeting Type:Annual	Ticker:LMP
	Shares Voted:777,059

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Remuneration Report	Mgmt	For	For	For
3	Reappoint Deloitte LLP as Auditors	Mgmt	For	For	For
4	Authorise Board to Fix Remuneration of Auditors	Mgmt	For	For	For
5	Re-elect Patrick Vaughan as Director	Mgmt	For	For	For
6	Re-elect Andrew Jones as Director	Mgmt	For	For	For
7	Re-elect Martin McGann as Director	Mgmt	For	For	For
8	Re-elect Valentine Beresford as Director	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

LondonMetric Property Plc

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
9	Re-elect Mark Stirling as Director	Mgmt	For	For	For
10	Re-elect James Dean as Director	Mgmt	For	For	For
11	Re-elect Alec Pelmore as Director	Mgmt	For	For	For
12	Re-elect Philip Watson as Director	Mgmt	For	For	For
13	Re-elect Rosalyn Wilton as Director	Mgmt	For	For	For
14	Re-elect Andrew Livingston as Director	Mgmt	For	For	For
15	Elect Suzanne Avery as Director	Mgmt	For	For	For
16	Authorise Issue of Equity withPre-emptive Rights	Mgmt	For	For	For
17	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For
18	Authorise Issue of Equity withoutPre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For
19	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For
20	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For

Link Real Estate Investment Trust

Meeting Date:07/25/2018	Country:Hong Kong	Primary Security ID:Y5281M111
Record Date:07/19/2018	Meeting Type:Annual	Ticker:823
	Shares Voted:421,000

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Note the Financial Statements and Statutory Report	Mgmt
2	Note the Appointment of Auditor and Fixing of Their Remuneration	Mgmt
3.1	Elect Nicholas Charles Allen as Director	Mgmt	For	For	For
3.2	Elect Poh Lee Tan as Director	Mgmt	For	For	For
3.3	Elect Peter Tse Pak Wing as Director	Mgmt	For	For	For
3.4	Elect Ian Keith Griffiths as Director	Mgmt	For	For	For
4.1	Elect Christopher John Brooke as Director	Mgmt	For	For	For
5	Authorize Repurchase of Issued Share Capital	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Link Real Estate Investment Trust

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
6.1	Amend Trust Deed Distribution Formula Re: Unrealized Property Revaluation Losses	Mgmt	For	For	For
6.2	Amend Trust Deed Distribution Formula Re: Goodwill Impairment	Mgmt	For	For	For
6.3	Amend Trust Deed Distribution Formula Re: Fair Value Losses on Financial Instruments	Mgmt	For	For	For
6.4	Amend Trust Deed Distribution Formula Re: Depreciation and/or Amortization	Mgmt	For	For	For
6.5	Amend Trust Deed Distribution Formula Re: Gains on Disposal of Special Purpose Vehicles of Link	Mgmt	For	For	For
7	Approve Trust Deed Expanded Investment Scope Re: Relevant Investments and Relevant Investments Amendments	Mgmt	For	For	For

AIMS AMP Capital Industrial REIT

Meeting Date:07/26/2018	Country:Singapore	Primary Security ID:Y0029Z136
Record Date:	Meeting Type:Annual	Ticker:O5RU
	Shares Voted:407,800

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	ORDINARY RESOLUTIONS	Mgmt
1	Adopt Financial Statements and Directors’ and Auditors’ Reports	Mgmt	For	For	For
2	Approve KPMG LLP as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For
3	Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights	Mgmt	For	For	For
4	Approve Distribution Reinvestment Plan	Mgmt	For	For	For
	SPECIAL RESOLUTION	Mgmt
1	Approve Electronic Communications Trust Deed Supplement	Mgmt	For	For	For

CYS Investments, Inc.

Meeting Date:07/27/2018	Country:USA	Primary Security ID:12673A108
Record Date:06/22/2018	Meeting Type:Special	Ticker:CYS

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

CYS Investments, Inc.

Shares Voted:45,626

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Merger Agreement	Mgmt	For	For	For
2	Advisory Vote on Golden Parachutes	Mgmt	For	For	For
3	Adjourn Meeting	Mgmt	For	For	For

Daiwa Office Investment Corp.

Meeting Date:08/20/2018	Country:Japan	Primary Security ID:J1250G109
Record Date:05/31/2018	Meeting Type:Special	Ticker:8976
	Shares Voted:110

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Amend Articles to Reflect Changes in Law - Amend Asset Management Compensation	Mgmt	For	For	For
2	Elect Executive Director Takahashi, Motoi	Mgmt	For	For	For
3	Elect Alternate Executive Director Fukushima, Toshio	Mgmt	For	For	For
4.1	Elect Supervisory Director Hiraishi, Takayuki	Mgmt	For	For	For
4.2	Elect Supervisory Director Sakuma, Hiroshi	Mgmt	For	For	For

APAC Realty Ltd.

Meeting Date:08/31/2018	Country:Singapore	Primary Security ID:Y0170A104
Record Date:	Meeting Type:Special	Ticker:CLN
	Shares Voted:725,100

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Acquisition of HC Home Pte. Ltd.	Mgmt	For	For	For
2	Authorize Share Repurchase Program	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Fonciere des Regions

Meeting Date:09/06/2018	Country:France	Primary Security ID:F3832Y172
Record Date:09/03/2018	Meeting Type:Special	Ticker:COV
	Shares Voted:16,823

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Extraordinary Business	Mgmt
1	Approve Merger by Absorption of Beni Stabili by Fonciere des Regions	Mgmt	For	For	For
2	Approve Right of Withdrawal for Beni Stabili Shareholders; The proposed price has been set at EUR 0.7281 per share	Mgmt	For	For	For
3	Issue 9,478,728 Shares in Connection with Merger Above	Mgmt	For	For	For
4	Approve Transfer from Beni Stabili to Fonciere des Regions of Convertible Bonds Issuance Contracts	Mgmt	For	For	For
5	Change Company Name to Covivio and Amend Article 2 of Bylaws Accordingly	Mgmt	For	For	For
6	Amend Articles 8 and 25 of Bylaws Re: Tax Regime	Mgmt	For	For	For
7	Authorize Filing of Required Documents/Other Formalities	Mgmt	For	For	For

FIBRA Macquarie Mexico

Meeting Date:09/18/2018	Country:Mexico	Primary Security ID:P3515D155
Record Date:09/10/2018	Meeting Type:Special	Ticker:FIBRAMQ12
	Shares Voted:1,126,940

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Extraordinary Meeting for Holders of REITs - ISIN MXCFFI0U0002	Mgmt
1	Amend Trust Agreement, Title and Operation Documents; Instruct Common Representative and or Trustee to Carry out Agreements and Adopt Necessary Actions to Execute Approved Resolutions	Mgmt	For	For	For
2	Amend Compensation Scheme for Independent Members of Ethics and Corporate Practices Committee	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

FIBRA Macquarie Mexico

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
3	Authorize Board to Ratify and Execute Approved Resolutions	Mgmt	For	For	For

Dexus

Meeting Date:10/24/2018	Country:Australia	Primary Security ID:Q3190P134
Record Date:10/22/2018	Meeting Type:Annual	Ticker:DXS
	Shares Voted:175,410

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve the Remuneration Report	Mgmt	For	For	For
2	Approve Grant of Performance Rights to Darren Steinberg	Mgmt	For	For	For
3.1	Elect Richard Sheppard as Director	Mgmt	For	For	For
3.2	Elect Penny Bingham-Hall as Director	Mgmt	For	For	For
3.3	Elect Tonianne Dwyer as Director	Mgmt	For	For	For
4	Approve Amendments to the Constitution	Mgmt	For	For	For

CK Asset Holdings Ltd.

Meeting Date:10/30/2018	Country:Cayman Islands	Primary Security ID:G2177B101
Record Date:10/24/2018	Meeting Type:Special	Ticker:1113
	Shares Voted:183,500

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Acquisition by CKM Australia Bidco Pty Ltd Pursuant to the Implementation Agreement	Mgmt	For	For	For
2	Approve Consortium Formation Agreement and the Transaction Proceeding with the Joint Venture Transaction Pursuant to the Implementation Agreement	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Industrial & Infrastructure Fund Investment Corp.

Meeting Date:10/30/2018	Country:Japan	Primary Security ID:J24393118
Record Date:07/31/2018	Meeting Type:Special	Ticker:3249
	Shares Voted:703

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Amend Articles to Amend Asset Management Compensation	Mgmt	For	For	For
2	Elect Executive Director Kuratsu, Yasuyuki	Mgmt	For	For	For
3.1	Elect Supervisory Director Takiguchi, Katsuaki	Mgmt	For	For	For
3.2	Elect Supervisory Director Honda, Kumi	Mgmt	For	For	For
3.3	Elect Supervisory Director Sakomoto, Eiji	Mgmt	For	For	For
4.1	Elect Alternate Executive Director Ueda, Hidehiko	Mgmt	For	For	For
4.2	Elect Alternate Executive Director Moritsu, Masa	Mgmt	For	For	For
5	Elect Alternate Supervisory Director Usami, Yutaka	Mgmt	For	For	For

Vicinity Centres

Meeting Date:11/01/2018	Country:Australia	Primary Security ID:Q9395F102
Record Date:10/30/2018	Meeting Type:Annual/Special	Ticker:VCX
	Shares Voted:1,399,136

Proposal     Number	Proposal Text	Proponent	Mgmt��Rec	Voting Policy Rec	Vote Instruction
2	Approve Remuneration Report	Mgmt	For	For	For
3a	Elect Tim Hammon as Director	Mgmt	For	For	For
3b	Elect Wai Tang as Director	Mgmt	For	For	For
3c	Elect Janette Kendall as Director	Mgmt	For	For	For
3d	Elect Clive Appleton as Director	Mgmt	For	For	For
4	Approve Grant of Performance Rights to Grant Kelley	Mgmt	For	For	For
5	Approve Insertion of Partial Takeovers Provisions in the Company Constitution	Mgmt	For	For	For
6	Approve Insertion of Partial Takeovers Provisions in the Trust Constitution	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Inmobiliaria Colonial SOCIMI SA

Meeting Date:11/07/2018	Country:Spain	Primary Security ID:E6451E105
Record Date:11/02/2018	Meeting Type:Special	Ticker:COL
	Shares Voted:119,568

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Acquisition of Shares of Societe Fonciere Lyonnaise from Qatar Holding LLC and DIC Holding LLC	Mgmt	For	For	For
2	Approve Issuance of Shares in Connection with Acquisition of Shares of Societe Fonciere Lyonnaise	Mgmt	For	For	For
3	Authorize Board to Ratify and Execute Approved Resolutions	Mgmt	For	For	For

Charter Hall Group

Meeting Date:11/15/2018	Country:Australia	Primary Security ID:Q2308A138
Record Date:11/13/2018	Meeting Type:Annual	Ticker:CHC
	Shares Voted:93,051

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2.1	Elect Anne Brennan as Director	Mgmt	For	For	For
2.2	Elect Philip Garling as Director	Mgmt	For	For	For
3	Approve Remuneration Report	Mgmt	For	For	For
4	Approve Issuance of Service Rights to David Harrison	Mgmt	For	For	For
5	Approve Issuance of Performance Rights to David Harrison	Mgmt	For	For	For

Goodman Group

Meeting Date:11/15/2018	Country:Australia	Primary Security ID:Q4229W132
Record Date:11/13/2018	Meeting Type:Annual	Ticker:GMG

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Goodman Group

Shares Voted:248,320

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Appoint KPMG as Auditors of Goodman Logistics (HK) Limited and Authorize the Board to Fix Their Remuneration	Mgmt	For	For	For
2	Elect Rebecca McGrath as Director of Goodman Limited	Mgmt	For	For	For
3	Elect Penny Winn as Director of Goodman Limited	Mgmt	For	For	For
4	Elect David Collins as Director of Goodman Logistics (HK) Limited	Mgmt	For	For	For
5a	Elect Danny Peeters as Director of Goodman Limited	Mgmt	For	For	For
5b	Elect Danny Peeters as Director of Goodman Logistics (HK) Limited	Mgmt	For	For	For
6	Approve Remuneration Report	Mgmt	For	Against	For
7	Approve Issuance of Performance Rights to Gregory Goodman	Mgmt	For	Against	For
8	Approve Issuance of Performance Rights to Danny Peeters	Mgmt	For	Against	For
9	Approve Issuance of Performance Rights to Anthony Rozic	Mgmt	For	Against	For

Propertylink Group

Meeting Date:11/15/2018	Country:Australia	Primary Security ID:Q7773M103
Record Date:11/13/2018	Meeting Type:Special	Ticker:PLG
	Shares Voted:2,682,345

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Elect Nicholas Collishaw as Director	SH	Against	Against	Against
2	Elect Evelyn Horton as Director	SH	Against	Against	Against
3	Elect Michael Figg as Director	SH	Against	Against	Against
4	Elect Ellis Varejes as Director	SH	Against	Against	Against
5	Elect Gregory Dyer as Director	SH	Against	Against	Against
6	Elect Maxwell Green as Director	SH	Against	Against	Against
7	Remove Peter Andrew Lancken as Director	SH	Against	Against	Against

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Propertylink Group

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
8	Remove Christopher John Ryan as Director	SH	Abstain	Against	Against
9	Remove Stephen Lawrence Day as Director	SH	Against	Against	Against
10	Remove Ian Farley Hutchinson as Director	SH	Against	Against	Against
11	Remove Anthony Damien Ryan as Director	SH	Against	Against	Against
12	Remove Sarah Kenny as Director	SH	Against	Against	Against
13	Approve Removal of Additional Directors Appointed Prior to the Meeting	SH	Against	Against	Against

Arena REIT

Meeting Date:11/20/2018	Country:Australia	Primary Security ID:Q0457C152
Record Date:11/18/2018	Meeting Type:Annual/Special	Ticker:ARF
	Shares Voted:314,550

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Remuneration Report	Mgmt	For	For	For
2	Elect Dennis Wildenburg as Director	Mgmt	For	For	For
3	Approve Grant of Short Term Incentive Rights to Bryce Mitchelson	Mgmt	For	For	For
4	Approve Grant of Long Term Incentive Performance Rights to Bryce Mitchelson	Mgmt	For	For	For
5	Approve Grant of Short Term Incentive Rights to Gareth Winter	Mgmt	For	For	For
6	Approve Grant of Long Term Incentive Performance Rights to Gareth Winter	Mgmt	For	For	For

New World Development Co. Ltd.

Meeting Date:11/20/2018	Country:Hong Kong	Primary Security ID:Y63084126
Record Date:11/12/2018	Meeting Type:Annual	Ticker:17
	Shares Voted:1,550,000

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

New World Development Co. Ltd.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Approve Final Dividend	Mgmt	For	For	For
3a	Elect ChengKar-Shun, Henry as Director	Mgmt	For	For	For
3b	Elect DooWai-Hoi, William as Director	Mgmt	For	For	For
3c	Elect ChaMou-Sing, Payson as Director	Mgmt	For	For	For
3d	Elect ChengKar-Shing, Peter as Director	Mgmt	For	For	For
3e	Elect LiangCheung-Biu, Thomas as Director	Mgmt	For	For	For
3f	Elect ChengChi-Man, Sonia as Director	Mgmt	For	For	For
3g	Elect SittNam-Hoi as Director	Mgmt	For	For	For
3h	Elect So Chung-Keung, Alfred as Director	Mgmt	For	For	For
3i	Elect IpYuk-Keung as Director	Mgmt	For	For	For
3j	Authorize Board to Fix Remuneration of Directors	Mgmt	For	For	For
4	Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For
5	Authorize Repurchase of Issued Share Capital	Mgmt	For	For	For
6	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights	Mgmt	For	Against	Against
7	Approve Grant of Options Under the Share Option Scheme	Mgmt	For	Against	Against

Cromwell Property Group

Meeting Date:11/21/2018	Country:Australia	Primary Security ID:Q2995J103
Record Date:11/19/2018	Meeting Type:Annual/Special	Ticker:CMW
	Shares Voted:2,107,880

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Elect David Blight as Director	Mgmt	For	For	For
3	Elect Andrew Fay as Director	Mgmt	For	For	For
4	Approve Remuneration Report	Mgmt	For	For	For
5	Appoint Deloitte Touche Tohmatsu as Auditor of the Company	Mgmt	For	For	For
6	Approve the Spill Resolution	Mgmt	Against	Against	Against

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Cromwell Property Group

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
7	Approve Amendment to the Trust Constitution	Mgmt	For	For	For
8	Ratify Past Issuance of the 2025 Convertible Bonds	Mgmt	For	For	For
9	Approve Issuance of Further Stapled Securities on Conversion of the 2025 Convertible Bonds	Mgmt	For	For	For
10	Approve Grant of Performance Rights and Stapled Securities to Paul Weightman	Mgmt	For	For	For

Propertylink Group

Meeting Date:11/30/2018	Country:Australia	Primary Security ID:Q7773M103
Record Date:11/28/2018	Meeting Type:Annual/Special	Ticker:PLG
	Shares Voted:2,682,345

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Elect Anthony Ryan as Director	Mgmt	For	Against	Against
3	Approve the Increase in Maximum Aggregate Remuneration ofNon-Executive Directors	Mgmt	For	For	For
4	Approve Remuneration Report	Mgmt	For	For	For
5	Approve Allocation of Performance Rights and Deferred Restricted Securities to Stuart Dawes	Mgmt	For	For	For
6	Approve Allocation of Performance Rights and Deferred Restricted Securities to Stephen Day	Mgmt	For	For	For
7	Approve Renewal of Proportional Takeover Provisions	Mgmt	For	For	For

Invincible Investment Corp.

Meeting Date:12/12/2018	Country:Japan	Primary Security ID:J2442V103
Record Date:10/31/2018	Meeting Type:Special	Ticker:8963
	Shares Voted:2,020

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Amend Articles to Amend Compensation to Audit Firm - Amend Asset Management Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Invincible Investment Corp.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Elect Executive Director Fukuda, Naoki	Mgmt	For	For	For
3	Elect Alternate Executive Director Christopher Reed	Mgmt	For	For	For
4.1	Elect Supervisory Director Fujimoto, Hiroyuki	Mgmt	For	For	For
4.2	Elect Supervisory Director Tamura, Yoshihiro	Mgmt	For	For	For

Frasers Logistics & Industrial Trust

Meeting Date:01/24/2019	Country:Singapore	Primary Security ID:Y26465107
Record Date:	Meeting Type:Annual	Ticker:BUOU
	Shares Voted:769,180

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Adopt Report of the Trustee, Statement by the Manager, and Audited Financial Statements	Mgmt	For	For	For
2	Approve KPMG LLP as Auditors and Authorize Manager to Fix Their Remuneration	Mgmt	For	For	For
3	Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights	Mgmt	For	For	For

Primary Health Properties Plc

Meeting Date:02/28/2019	Country:United Kingdom	Primary Security ID:G7240B186
Record Date:02/26/2019	Meeting Type:Special	Ticker:PHP
	Shares Voted:233,595

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Matters Relating to the Acquisition of MedicX Fund Limited	Mgmt	For	For	For
2	Approve the Deed of Variation and the TUPE Deed	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

MCUBS MidCity Investment Corp.

Meeting Date:03/15/2019	Country:Japan	Primary Security ID:J4304Y100
Record Date:12/31/2018	Meeting Type:Special	Ticker:3227
	Shares Voted:3,663

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Amend Articles to Amend Asset Management Compensation	Mgmt	For	For	For
2	Elect Executive Director Tsuchiya, Katsuhiro	Mgmt	For	For	For
3.1	Elect Alternate Executive Director Matsuo, Katsura	Mgmt	For	For	For
3.2	Elect Alternate Executive Director Suzuki, Naoki	Mgmt	For	For	For
4.1	Elect Supervisory Director Kitamura, Haruo	Mgmt	For	Against	Against
4.2	Elect Supervisory Director Ito, Osamu	Mgmt	For	For	For
4.3	Elect Supervisory Director Nagata, Kyoko	Mgmt	For	For	For

Safestore Holdings Plc

Meeting Date:03/20/2019	Country:United Kingdom	Primary Security ID:G77733106
Record Date:03/18/2019	Meeting Type:Annual	Ticker:SAFE
	Shares Voted:216,232

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Remuneration Report	Mgmt	For	For	For
3	Reappoint Deloitte LLP as Auditors	Mgmt	For	For	For
4	Authorise Board to Fix Remuneration of Auditors	Mgmt	For	For	For
5	Approve Final Dividend	Mgmt	For	For	For
6	Re-elect Alan Lewis as Director	Mgmt	For	For	For
7	Re-elect Frederic Vecchioli as Director	Mgmt	For	For	For
8	Re-elect Andy Jones as Director	Mgmt	For	For	For
9	Re-elect Ian Krieger as Director	Mgmt	For	For	For
10	Re-elect Joanne Kenrick as Director	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Safestore Holdings Plc

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
11	Re-elect Claire Balmforth as Director	Mgmt	For	For	For
12	Re-elect Bill Oliver as Director	Mgmt	For	For	For
13	Authorise EU Political Donations and Expenditure	Mgmt	For	For	For
14	Authorise Issue of Equity withPre-emptive Rights	Mgmt	For	For	For
15	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For
16	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For
17	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For

Castellum AB

Meeting Date:03/21/2019	Country:Sweden	Primary Security ID:W2084X107
Record Date:03/15/2019	Meeting Type:Annual	Ticker:CAST
	Shares Voted:65,998

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Elect Chairman of Meeting	Mgmt	For	For	For
2	Prepare and Approve List of Shareholders	Mgmt	For	For	For
3	Approve Agenda of Meeting	Mgmt	For	For	For
4	Designate Inspector(s) of Minutes of Meeting	Mgmt	For	For	For
5	Acknowledge Proper Convening of Meeting	Mgmt	For	For	For
6.a	Receive Financial Statements and Statutory Reports	Mgmt
6.b	Receive Auditor’s Report on Application of Guidelines for Remuneration for Executive Management	Mgmt
7	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
8	Approve Allocation of Income and Dividends of SEK 6.10 Per Share	Mgmt	For	For	For
9	Approve Discharge of Board and President	Mgmt	For	For	For
10	Receive Nominating Committees Report	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Castellum AB

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
11	Determine Number of Directors (7) and Deputy Directors (0) of Board; Determine Number of Auditors (1) and Deputy Auditors (0)	Mgmt	For	For	For
12	Approve Remuneration of Directors in the Amount of SEK 985,000 to Chairman and SEK 410,000 to Other Board Members; Approve Remuneration for Committee Work	Mgmt	For	Against	Against
13.a	Reelect Charlotte Stromberg as Director (Chairman)	Mgmt	For	For	For
13.b	Reelect Per Berggren as Director	Mgmt	For	For	For
13.c	Relect Anna-Karin Hatt as Director	Mgmt	For	For	For
13.d	Releect Christer Jacobson as Director	Mgmt	For	For	For
13.e	Reelect Christina Karlsson Kazeem as Director	Mgmt	For	For	For
13.f	Reelect Nina Linander as Director	Mgmt	For	For	For
13.g	Reelect Johan Skoglund Kazeem as Director	Mgmt	For	For	For
14	Ratify Deloitte as Auditors	Mgmt	For	For	For
15	Authorize Representatives of Four of Company’s Largest Shareholders to Serve on Nominating Committee	Mgmt	For	For	For
16	Approve Remuneration Policy And Other Terms of Employment For Executive Management	Mgmt	For	For	For
17	Approve Cash-Based Incentive Program for Management	Mgmt	For	For	For
18	Approve Creation of Pool of Capital without Preemptive Rights	Mgmt	For	For	For
19	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	Mgmt	For	For	For

Fabege AB

Meeting Date:04/02/2019	Country:Sweden	Primary Security ID:W7888D199
Record Date:03/27/2019	Meeting Type:Annual	Ticker:FABG
	Shares Voted:56,779

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Open Meeting	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Fabege AB

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Elect Chairman of Meeting	Mgmt	For	For	For
3	Prepare and Approve List of Shareholders	Mgmt	For	For	For
4	Approve Agenda of Meeting	Mgmt	For	For	For
5	Designate Inspector(s) of Minutes of Meeting	Mgmt	For	For	For
6	Acknowledge Proper Convening of Meeting	Mgmt	For	For	For
7	Receive Financial Statements and Statutory Reports	Mgmt
8.a	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
8.b	Approve Allocation of Income and Dividends of SEK 2.65 Per Share	Mgmt	For	For	For
8.c	Approve Discharge of Board and President	Mgmt	For	For	For
8.d	Approve April 4, 2019 as Record Date for Dividend Payment	Mgmt	For	For	For
9	Determine Number of Members (7) and Deputy Members (0) of Board; Receive Nominating Committee’s Report	Mgmt	For	For	For
10	Approve Remuneration of Directors in the Amount of SEK 550,000 for Chairman and SEK 240,000 for Other Directors; Approve Remuneration for Committee Work; Approve Remuneration of Auditors	Mgmt	For	For	For
11	Reelect Anette Asklin, Eva Eriksson, Martha Josefsson, Jan Litborn (Chair), Par Nuder,Per-Ingemar Persson and Mats Qviberg as Directors	Mgmt	For	For	For
12	Ratify Deloitte as Auditor	Mgmt	For	For	For
13	Authorize Representatives of Four of Company’s Largest Shareholders to Serve on Nominating Committee	Mgmt	For	For	For
14	Approve Remuneration Policy And Other Terms of Employment For Executive Management	Mgmt	For	For	For
15	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	Mgmt	For	For	For
16	Other Business	Mgmt
17	Close Meeting	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

MERLIN Properties SOCIMI SA

Meeting Date:04/09/2019	Country:Spain	Primary Security ID:E7390Z100
Record Date:04/04/2019	Meeting Type:Annual	Ticker:MRL
	Shares Voted:243,365

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Consolidated and Standalone Financial Statements	Mgmt	For	For	For
2.1	Approve Allocation of Income and Dividends	Mgmt	For	For	For
2.2	Approve Dividends Charged to Reserves	Mgmt	For	For	For
3	Approve Discharge of Board	Mgmt	For	For	For
4	Renew Appointment of Deloitte as Auditor	Mgmt	For	For	For
5.1	Fix Number of Directors at 12	Mgmt	For	For	For
5.2	Reelect Javier Garcia-Carranza Benjumea as Director	Mgmt	For	For	For
5.3	Reelect Francisca Ortega Hernandez-Agero as Director	Mgmt	For	For	For
5.4	Reelect Juan Maria Aguirre Gonzalo as Director	Mgmt	For	For	For
5.5	Reelect Pilar Cavero Mestre as Director	Mgmt	For	For	For
6	Authorize Share Repurchase Program	Mgmt	For	For	For
7	Authorize Company to Call EGM with 15 Days’ Notice	Mgmt	For	For	For
8	Amend Remuneration Policy	Mgmt	For	For	For
9	Advisory Vote on Remuneration Report	Mgmt	For	Against	For
10	Authorize Board to Ratify and Execute Approved Resolutions	Mgmt	For	For	For

Terrafina

Meeting Date:04/10/2019	Country:Mexico	Primary Security ID:P2R51T187
Record Date:04/02/2019	Meeting Type:Annual	Ticker:TERRA13
	Shares Voted:686,270

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Ordinary Meeting for Holders of REITs - ISIN MXCFTE0B0005	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Terrafina

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Financial Statements	Mgmt	For	For	For
2	Approve Annual Report	Mgmt	For	For	For
3.1	Ratify Alberto Chretin Castillo as Technical Committee Member	Mgmt	For	For	For
3.2	Ratify Alfonso Munk Alba as Technical Committee Member	Mgmt	For	For	For
3.3	Ratify Eduardo Solis Sanchez as Technical Committee Member	Mgmt	For	For	For
3.4	Ratify Arturo D’Acosta Ruiz as Technical Committee Member	Mgmt	For	For	For
3.5	Ratify Jose Luis Barraza Gonzalez as Technical Committee Member	Mgmt	For	For	For
3.6	Ratify Victor David Almeida Garcia as Technical Committee Member	Mgmt	For	For	For
3.7	Ratify Carmina Abad Sanchez as Technical Committee Member	Mgmt	For	For	For
3.8	Ratify Julio Ignacio Cardenas Sarre as Technical Committee Member	Mgmt	For	For	For
4	Authorize Board to Ratify and Execute Approved Resolutions	Mgmt	For	For	For

ADO Properties S.A.

Meeting Date:04/11/2019	Country:Luxembourg	Primary Security ID:L0120V103
Record Date:03/28/2019	Meeting Type:Special	Ticker:ADJ
	Shares Voted:22,889

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Special Meeting Agenda	Mgmt
1	Receive Special Board Report	Mgmt
2	Elect David Daniel as Director and Approve His Remuneration	Mgmt	For	Against	Against
3	Elect Moshe Dayan as Director	SH	None	Against	Against
4	Elect Sebastian-Dominik Jais as Director	SH	None	Against	Against
5	Elect Papadimitriou Constantin as Director	SH	None	Against	Against

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

CapitaLand Retail China Trust

Meeting Date:04/11/2019	Country:Singapore	Primary Security ID:Y1092E109
Record Date:	Meeting Type:Annual	Ticker:AU8U
	Shares Voted:433,600

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Adopt Trustee’s Report, Statement by the Manager, Audited Financial Statements and Auditors’ Report	Mgmt	For	For	For
2	Approve KPMG LLP as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For
3	Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights	Mgmt	For	For	For
4	Authorize Share Repurchase Program	Mgmt	For	For	For
5	Approve Distribution Reinvestment Plan	Mgmt	For	For	For

Klepierre SA

Meeting Date:04/16/2019	Country:France	Primary Security ID:F5396X102
Record Date:04/11/2019	Meeting Type:Annual/Special	Ticker:LI
	Shares Voted:47,201

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Ordinary Business	Mgmt
1	Approve Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Consolidated Financial Statements and Statutory Reports	Mgmt	For	For	For
3	Approve Allocation of Income and Dividends of EUR 2.10 per Share	Mgmt	For	For	For
4	Approve Auditors’ Special Report on Related-Party Transactions	Mgmt	For	For	For
5	Reelect Rose-Marie Van Lerberghe as Supervisory Board Member	Mgmt	For	For	For
6	Reelect Beatrice de Clermont-Tonnerre as Supervisory Board Member	Mgmt	For	For	For
7	Approve Compensation of Jean-Marc Jestin	Mgmt	For	For	For
8	Approve Compensation of Jean-Michel Gault	Mgmt	For	For	For
9	Approve Remuneration Policy of Supervisory Board Members	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Klepierre SA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
10	Approve Remuneration Policy of the Chairman of the Management Board	Mgmt	For	For	For
11	Approve Remuneration Policy of the Management Board Members	Mgmt	For	For	For
12	Authorize Repurchase of Up to 10 Percent of Issued Share Capital	Mgmt	For	For	For
	Extraordinary Business	Mgmt
13	Authorize Decrease in Share Capital via Cancellation of Repurchased Shares	Mgmt	For	For	For
14	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 90 Million	Mgmt	For	For	For
15	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 42 Million	Mgmt	For	For	For
16	Approve Issuance of Equity or Equity-Linked Securities for Private Placements, up to Aggregate Nominal Amount of EUR 42 Million	Mgmt	For	For	For
17	Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above	Mgmt	For	For	For
18	Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind	Mgmt	For	For	For
19	Authorize Capitalization of Reserves of Up to EUR 100 Million for Bonus Issue or Increase in Par Value	Mgmt	For	For	For
20	Authorize Capital Issuances for Use in Employee Stock Purchase Plans	Mgmt	Against	For	For
21	Set Total Limit for Capital Increase to Result from All Issuance Requests at EUR 100 Million	Mgmt	For	For	For
22	Authorize up to 0.5 Percent of Issued Capital for Use in Restricted Stock Plans	Mgmt	For	For	For
23	Authorize Filing of Required Documents/Other Formalities	Mgmt	For	For	For

Covivio SA

Meeting Date:04/17/2019	Country:France	Primary Security ID:F3832Y172
Record Date:04/15/2019	Meeting Type:Annual/Special	Ticker:COV

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Covivio SA

Shares Voted:17,092

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Ordinary Business	Mgmt
1	Approve Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Consolidated Financial Statements and Statutory Reports	Mgmt	For	For	For
3	Approve Allocation of Income and Dividends of EUR 4.60 per Share	Mgmt	For	For	For
4	Approve Stock Dividend Program	Mgmt	For	For	For
5	Approve Auditors’ Special Report on Related-Party Transactions	Mgmt	For	For	For
6	Approve Severance Agreement with Christophe Kullmann, CEO	Mgmt	For	Against	Against
7	Approve Severance Agreement with Olivier Esteve,Vice-CEO	Mgmt	For	Against	Against
8	Approve Remuneration Policy of Chairman of the Board	Mgmt	For	For	For
9	Approve Remuneration Policy of CEO	Mgmt	For	For	For
10	Approve Remuneration Policy ofVice-CEO	Mgmt	For	For	For
11	Approve Compensation of Jean Laurent, Chairman of the Board	Mgmt	For	For	For
12	Approve Compensation of Christophe Kullmann, CEO	Mgmt	For	For	For
13	Approve Compensation of Olivier Esteve,Vice-CEO	Mgmt	For	For	For
14	Approve Compensation of Dominique Ozanne,Vice-CEO	Mgmt	For	For	For
15	Reelect Jean Laurent as Director	Mgmt	For	For	For
16	Reelect Leonardo Del Vecchio as Director	Mgmt	For	Against	Against
17	Reelect Covea Cooperations as Director	Mgmt	For	For	For
18	Elect Christian Delaire as Director	Mgmt	For	For	For
19	Elect Olivier Piani as Director	Mgmt	For	For	For
20	Renew Appointment of Ernst and Young et Autres as Auditor	Mgmt	For	For	For
21	Authorize Repurchase of Up to 10 Percent of Issued Share Capital	Mgmt	For	For	For
	Extraordinary Business	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Covivio SA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
22	Change Corporate Purpose and Amend Article 3 of Bylaws Accordingly; Amend Article 14 of Bylaws Re: Age Limit of Chairman of the Board	Mgmt	For	For	For
23	Authorize Capitalization of Reserves of Up to EUR 24.8 Million for Bonus Issue or Increase in Par Value	Mgmt	For	For	For
24	Authorize Decrease in Share Capital via Cancellation of Repurchased Shares	Mgmt	For	For	For
25	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 62 Million	Mgmt	For	For	For
26	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 24.8 Million, with a Binding Priority Right	Mgmt	For	For	For
27	Authorize Capital Increase of Up to 10 Percent of Issued Share Capital for Future Exchange Offers	Mgmt	For	For	For
28	Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind	Mgmt	For	For	For
29	Authorize Capital Issuances for Use in Employee Stock Purchase Plans	Mgmt	For	For	For
30	Authorize up to 1 Percent of Issued Capital for Use in Restricted Stock Plans	Mgmt	For	Against	Against
31	Authorize Filing of Required Documents/Other Formalities	Mgmt	For	For	For

Far East Hospitality Trust

Meeting Date:04/17/2019	Country:Singapore	Primary Security ID:Y24258108
Record Date:	Meeting Type:Annual	Ticker:Q5T
	Shares Voted:1,659,400

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Adopt Trustee’s Report, Statement by the Manager, Audited Financial Statements and Auditors’ Report	Mgmt	For	For	For
2	Approve Ernst & Young LLP as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For
3	Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Far East Hospitality Trust

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
4	Approve Proposed Far EastH-BT Trust Deed Supplement	Mgmt	For	For	For
5	Approve Proposed Far EastH-REIT Trust Deed Communications Supplement, Proposed Far EastH-BT Trust Deed Communications Supplement and Proposed Stapling Deed Communications Supplement	Mgmt	For	For	For

Gecina SA

Meeting Date:04/17/2019	Country:France	Primary Security ID:F4268U171
Record Date:04/12/2019	Meeting Type:Annual	Ticker:GFC
	Shares Voted:8,214

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Ordinary Business	Mgmt
1	Approve Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Consolidated Financial Statements and Statutory Reports	Mgmt	For	For	For
3	Approve Transfer of Revaluation Surplus of Transferred Assets to Specific Reserves Account	Mgmt	For	For	For
4	Approve Allocation of Income and Dividends of EUR 5.50 per Share	Mgmt	For	For	For
5	Approve Stock Dividend Program	Mgmt	For	For	For
6	Approve Auditors’ Special Report on Related-Party Transactions Mentioning the Absence of New Transaction	Mgmt	For	For	For
7	Approve Compensation of Bernard Michel, Chairman of the Board Until Apr. 18, 2018	Mgmt	For	For	For
8	Approve Compensation of Bernard Carayon, Chairman of the Board Since Apr. 18, 2018	Mgmt	For	For	For
9	Approve Compensation of Meka Brunel, CEO	Mgmt	For	For	For
10	Approve Remuneration Policy of Chairman of the Board	Mgmt	For	For	For
11	Approve Remuneration Policy of CEO	Mgmt	For	For	For
12	Reelect Dominique Dudan as Director	Mgmt	For	For	For
13	Reelect Predica as Director	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Gecina SA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
14	Authorize Repurchase of Up to 10 Percent of Issued Share Capital	Mgmt	For	For	For
15	Authorize Filing of Required Documents/Other Formalities	Mgmt	For	For	For

SEGRO Plc

Meeting Date:04/18/2019	Country:United Kingdom	Primary Security ID:G80277141
Record Date:04/16/2019	Meeting Type:Annual	Ticker:SGRO
	Shares Voted:237,502

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Final Dividend	Mgmt	For	For	For
3	Approve Remuneration Report	Mgmt	For	Against	Against
4	Approve Remuneration Policy	Mgmt	For	For	For
5	Re-elect Gerald Corbett as Director	Mgmt	For	For	For
6	Re-elect Soumen Das as Director	Mgmt	For	For	For
7	Re-elect Carol Fairweather as Director	Mgmt	For	For	For
8	Re-elect Christopher Fisher as Director	Mgmt	For	For	For
9	Re-elect Andy Gulliford as Director	Mgmt	For	For	For
10	Re-elect Martin Moore as Director	Mgmt	For	For	For
11	Re-elect Phil Redding as Director	Mgmt	For	For	For
12	Re-elect David Sleath as Director	Mgmt	For	For	For
13	Re-elect Doug Webb as Director	Mgmt	For	For	For
14	Elect Mary Barnard as Director	Mgmt	For	For	For
15	Elect Sue Clayton as Director	Mgmt	For	For	For
16	Reappoint PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For
17	Authorise the Audit Committee to Fix Remuneration of Auditors	Mgmt	For	For	For
18	Authorise EU Political Donations and Expenditure	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

SEGRO Plc

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
19	Authorise Issue of Equity	Mgmt	For	For	For
20	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For
21	Authorise Issue of Equity withoutPre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For
22	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For
23	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For
24	Amend Long Term Incentive Plan	Mgmt	For	For	For

FIBRA Macquarie Mexico

Meeting Date:04/24/2019	Country:Mexico	Primary Security ID:P3515D155
Record Date:04/12/2019	Meeting Type:Annual	Ticker:FIBRAMQ12
	Shares Voted:1,219,140

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Annual Ordinary Meeting for Holders of REITs - ISIN MXCFFI0U0002	Mgmt
1	Approve Audited Financial Statements	Mgmt	For	For	For
2	Approve Annual Report	Mgmt	For	For	For
3	Extend Share Repurchase for Additional Year; Set Maximum Amount for Share Repurchase	Mgmt	For	For	For
4	Ratify Juan Antonio Salazar Rigal as Independent Member of Technical Committee	Mgmt	For	For	For
5	Ratify Alvaro de Garay Arellano as Independent Member of Technical Committee	Mgmt	For	For	For
6	Ratify Luis Alberto Aziz Checa as Independent Member of Technical Committee	Mgmt	For	For	For
7	Ratify Jaime de la Garza as Independent Member of Technical Committee	Mgmt	For	For	For
8	Ratify Michael Brennan as Independent Member of Technical Committee	Mgmt	For	For	For
9	Authorize Board to Ratify and Execute Approved Resolutions	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Wihlborgs Fastigheter AB

Meeting Date:04/25/2019	Country:Sweden	Primary Security ID:W9899F155
Record Date:04/17/2019	Meeting Type:Annual	Ticker:WIHL
	Shares Voted:49,242

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Calling the Meeting to Order	Mgmt
2	Elect Chairman of Meeting	Mgmt	For	For	For
3	Prepare and Approve List of Shareholders	Mgmt	For	For	For
4	Designate Inspector(s) of Minutes of Meeting	Mgmt	For	For	For
5	Approve Agenda of Meeting	Mgmt	For	For	For
6	Acknowledge Proper Convening of Meeting	Mgmt	For	For	For
7	Receive CEO’s Report	Mgmt
8	Receive Financial Statements and Statutory Reports	Mgmt
9.a	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
9.b	Approve Allocation of Income and Dividends of SEK 3.75 Per Share	Mgmt	For	For	For
9.c	Approve Discharge of Board and President	Mgmt	For	For	For
9.d	Approve Dividend Record Date	Mgmt	For	For	For
10	Determine Number of Members (7) and Deputy Members (0) of Board; Determine Number of Auditors (1) and Deputy Auditors (0)	Mgmt	For	For	For
11	Approve Remuneration of Directors in the Aggregate Amount of SEK 2.4 Million; Approve Remuneration of Auditors	Mgmt	For	For	For
12	Reelect Tina Andersson, Anders Jarl (Chair), Sara Karlsson, Jan Litborn, Helen Olausson,Per-Ingemar Persson and Johan Qviberg as Directors	Mgmt	For	For	For
13	Ratify Deloitte as Auditors	Mgmt	For	For	For
14	Approve Instructions for Nominating Committee	Mgmt	For	For	For
15	Approve Remuneration Policy And Other Terms of Employment For Executive Management	Mgmt	For	For	For
16	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Wihlborgs Fastigheter AB

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
17	Approve Issuance of up to 10 Per cent of Share Capital without Preemptive Rights	Mgmt	For	For	For
18	Other Business	Mgmt
19	Close Meeting	Mgmt

City Developments Ltd.

Meeting Date:04/26/2019	Country:Singapore	Primary Security ID:V23130111
Record Date:	Meeting Type:Annual	Ticker:C09
	Shares Voted:138,500

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Adopt Financial Statements and Directors’ and Auditors’ Reports	Mgmt	For	For	For
2	Approve Final Dividend and Special Dividend	Mgmt	For	For	For
3	Approve Directors’ Fees	Mgmt	For	For	For
4a	Elect Philip Yeo Liat Kok as Director	Mgmt	For	For	For
4b	Elect Tan Poay Seng as Director	Mgmt	For	Against	Against
4c	Elect Lim Yin Nee Jenny as Director	Mgmt	For	For	For
5	Approve KPMG LLP as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For
6	Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights	Mgmt	For	For	For
7	Authorize Share Repurchase Program	Mgmt	For	For	For
8	Approve Mandate for Interested Person Transactions	Mgmt	For	For	For

Entra ASA

Meeting Date:04/26/2019	Country:Norway	Primary Security ID:R2R8A2105
Record Date:	Meeting Type:Annual	Ticker:ENTRA

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Entra ASA

Shares Voted:0

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Open Meeting; Registration of Attending Shareholders and Proxies	Mgmt
2	Elect Chairman of Meeting	Mgmt	For	For	Do Not Vote
3	Designate Inspector(s) of Minutes of Meeting	Mgmt	For	For	Do Not Vote
4	Approve Notice of Meeting and Agenda	Mgmt	For	For	Do Not Vote
5	Accept Financial Statements and Statutory Reports; Approve Allocation of Income and Dividends of NOK 2.30 Per Share	Mgmt	For	For	Do Not Vote
6	Authorize Board to Declare Semi-Annual Dividends	Mgmt	For	For	Do Not Vote
7	Discuss Company’s Corporate Governance Statement	Mgmt
8.1	Approve Remuneration Policy And Other Terms of Employment For Executive Management (Advisory)	Mgmt	For	For	Do Not Vote
8.2	Approve Remuneration Policy And Other Terms of Employment For Executive Management (Binding)	Mgmt	For	Against	Do Not Vote
9	Approve NOK 1.6 Million Reduction in Share Capital via Share Cancellation	Mgmt	For	For	Do Not Vote
10	Authorize Share Repurchase Program and Cancellation of Repurchased Shares	Mgmt	For	For	Do Not Vote
11	Approve Repurchase Program as Funding for Incentive Plans	Mgmt	For	Against	Do Not Vote
12	Approve Remuneration of Auditors for 2018	Mgmt	For	For	Do Not Vote
13.1	Approve Remuneration of Directors	Mgmt	For	For	Do Not Vote
13.2	Approve Remuneration for Work in Audit Committee	Mgmt	For	For	Do Not Vote
13.3	Approve Remuneration for Work in Compensation Committee	Mgmt	For	For	Do Not Vote
14	Elect Camilla AC Tepfers as New Director	Mgmt	For	For	Do Not Vote
15.1	Elect Ingebret G. Hisdal (Chair) as Member of Nominating Committee	Mgmt	For	For	Do Not Vote
15.2	Reelect Hege Sjo as Member of Nominating Committee	Mgmt	For	For	Do Not Vote

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Entra ASA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
15.3	Reelect Gisele Marchand as Member of Nominating Committee	Mgmt	For	For	Do Not Vote
15.4	Elect Tine Fossland as New Member of Nominating Committee	Mgmt	For	For	Do Not Vote
16	Approve Remuneration of Members of Nominating Committee	Mgmt	For	For	Do Not Vote

Essential Properties Realty Trust, Inc.

Meeting Date:04/26/2019	Country:USA	Primary Security ID:29670E107
Record Date:03/11/2019	Meeting Type:Annual	Ticker:EPRT
	Shares Voted:423,253

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Paul T. Bossidy	Mgmt	For	For	For
1.2	Elect Director Peter M. Mavoides	Mgmt	For	For	For
1.3	Elect Director Todd J. Gilbert	Mgmt	For	For	For
1.4	Elect Director Anthony D. Minella	Mgmt	For	For	For
1.5	Elect Director Stephen D. Sautel	Mgmt	For	For	For
1.6	Elect Director Joyce DeLucca	Mgmt	For	For	For
1.7	Elect Director Scott A. Estes	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Apartment Investment And Management Company

Meeting Date:04/30/2019	Country:USA	Primary Security ID:03748R754
Record Date:02/22/2019	Meeting Type:Annual	Ticker:AIV
	Shares Voted:43,143

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Terry Considine	Mgmt	For	For	For
1.2	Elect Director Thomas L. Keltner	Mgmt	For	For	For
1.3	Elect Director J. Landis Martin	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Apartment Investment And Management Company

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.4	Elect Director Robert A. Miller	Mgmt	For	For	For
1.5	Elect Director Kathleen M. Nelson	Mgmt	For	For	For
1.6	Elect Director Ann Sperling	Mgmt	For	For	For
1.7	Elect Director Michael A. Stein	Mgmt	For	For	For
1.8	Elect Director Nina A. Tran	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Physicians Realty Trust

Meeting Date:04/30/2019	Country:USA	Primary Security ID:71943U104
Record Date:02/25/2019	Meeting Type:Annual	Ticker:DOC
	Shares Voted:180,683

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director John T. Thomas	Mgmt	For	For	For
1.2	Elect Director Tommy G. Thompson	Mgmt	For	For	For
1.3	Elect Director Stanton D. Anderson	Mgmt	For	For	For
1.4	Elect Director Mark A. Baumgartner	Mgmt	For	For	For
1.5	Elect Director Albert C. Black, Jr.	Mgmt	For	For	For
1.6	Elect Director William A. Ebinger	Mgmt	For	For	For
1.7	Elect Director Pamela J. Kessler	Mgmt	For	For	For
1.8	Elect Director Richard A. Weiss	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
4	Amend Omnibus Stock Plan	Mgmt	For	For	For

VICI Properties, Inc.

Meeting Date:04/30/2019	Country:USA	Primary Security ID:925652109
Record Date:03/01/2019	Meeting Type:Annual	Ticker:VICI

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

VICI Properties, Inc.

Shares Voted:92,079

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director James R. Abrahamson	Mgmt	For	For	For
1b	Elect Director Diana F. Cantor	Mgmt	For	For	For
1c	Elect Director Eric L. Hausler	Mgmt	For	For	For
1d	Elect Director Elizabeth I. Holland	Mgmt	For	For	For
1e	Elect Director Craig Macnab	Mgmt	For	For	For
1f	Elect Director Edward B. Pitoniak	Mgmt	For	For	For
1g	Elect Director Michael D. Rumbolz	Mgmt	For	For	For
2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Prologis, Inc.

Meeting Date:05/01/2019	Country:USA	Primary Security ID:74340W103
Record Date:03/06/2019	Meeting Type:Annual	Ticker:PLD
	Shares Voted:86,097

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Hamid R. Moghadam	Mgmt	For	For	For
1b	Elect Director Cristina G. Bita	Mgmt	For	For	For
1c	Elect Director George L. Fotiades	Mgmt	For	For	For
1d	Elect Director Philip L. Hawkins	Mgmt	For	For	For
1e	Elect Director Lydia H. Kennard	Mgmt	For	For	For
1f	Elect Director J. Michael Losh	Mgmt	For	For	For
1g	Elect Director Irving F. Lyons, III	Mgmt	For	For	For
1h	Elect Director David P. O’Connor	Mgmt	For	For	For
1i	Elect Director Olivier Piani	Mgmt	For	For	For
1j	Elect Director Jeffrey L. Skelton	Mgmt	For	For	For
1k	Elect Director Carl B. Webb	Mgmt	For	For	For
1l	Elect Director William D. Zollars	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Prologis, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

City Office REIT, Inc.

Meeting Date:05/02/2019	Country:USA	Primary Security ID:178587101
Record Date:03/01/2019	Meeting Type:Annual	Ticker:CIO
	Shares Voted:266,509

Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director John McLernon	Mgmt	For	For	For
1.2	Elect Director James Farrar	Mgmt	For	For	For
1.3	Elect Director William Flatt	Mgmt	For	For	For
1.4	Elect Director Sabah Mirza	Mgmt	For	For	For
1.5	Elect Director Mark Murski	Mgmt	For	For	For
1.6	Elect Director Stephen Shraiberg	Mgmt	For	For	For
1.7	Elect Director John Sweet	Mgmt	For	For	For
2	Ratify KPMG LLP as Auditor	Mgmt	For	For	For
3	Amend Omnibus Stock Plan	Mgmt	For	For	For

Sunstone Hotel Investors, Inc.

Meeting Date:05/03/2019	Country:USA	Primary Security ID:867892101
Record Date:03/05/2019	Meeting Type:Annual	Ticker:SHO
	Shares Voted:48,687

Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director John V. Arabia	Mgmt	For	For	For
1.2	Elect Director W. Blake Baird	Mgmt	For	For	For
1.3	Elect Director Andrew Batinovich	Mgmt	For	For	For
1.4	Elect Director Z. Jamie Behar	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Sunstone Hotel Investors, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.5	Elect Director Thomas A. Lewis, Jr.	Mgmt	For	For	For
1.6	Elect Director Murray J. McCabe	Mgmt	For	For	For
1.7	Elect Director Douglas M. Pasquale	Mgmt	For	For	For
1.8	Elect Director Keith P. Russell	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
4	Report on Sexual Harassment	SH	Against	Against	Against

Hilton Grand Vacations, Inc.

Meeting Date:05/08/2019	Country:USA	Primary Security ID:43283X105
Record Date:03/15/2019	Meeting Type:Annual	Ticker:HGV
	Shares Voted:16,530

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Mark D. Wang	Mgmt	For	For	For
1.2	Elect Director Leonard A. Potter	Mgmt	For	For	For
1.3	Elect Director Brenda J. Bacon	Mgmt	For	For	For
1.4	Elect Director David W. Johnson	Mgmt	For	For	For
1.5	Elect Director Mark H. Lazarus	Mgmt	For	For	For
1.6	Elect Director Pamela H. Patsley	Mgmt	For	For	For
1.7	Elect Director Paul W. Whetsell	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditor	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Simon Property Group, Inc.

Meeting Date:05/08/2019	Country:USA	Primary Security ID:828806109
Record Date:03/15/2019	Meeting Type:Annual	Ticker:SPG

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Simon Property Group, Inc.

Shares Voted:13,675

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Glyn F. Aeppel	Mgmt	For	For	For
1b	Elect Director Larry C. Glasscock	Mgmt	For	For	For
1c	Elect Director Karen N. Horn	Mgmt	For	For	For
1d	Elect Director Allan Hubbard	Mgmt	For	For	For
1e	Elect Director Reuben S. Leibowitz	Mgmt	For	For	For
1f	Elect Director Gary M. Rodkin	Mgmt	For	For	For
1g	Elect Director Stefan M. Selig	Mgmt	For	For	For
1h	Elect Director Daniel C. Smith	Mgmt	For	For	For
1i	Elect Director J. Albert Smith, Jr.	Mgmt	For	For	For
1j	Elect Director Marta R. Stewart	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
4	Approve Omnibus Stock Plan	Mgmt	For	For	For
5	Report on Political Contributions	SH	Against	For	For

Alexandria Real Estate Equities, Inc.

Meeting Date:05/09/2019	Country:USA	Primary Security ID:015271109
Record Date:03/29/2019	Meeting Type:Annual	Ticker:ARE
	Shares Voted:18,924

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Joel S. Marcus	Mgmt	For	For	For
1.2	Elect Director Steven R. Hash	Mgmt	For	For	For
1.3	Elect Director John L. Atkins, III	Mgmt	For	Against	Against
1.4	Elect Director James P. Cain	Mgmt	For	Against	Against
1.5	Elect Director Maria C. Freire	Mgmt	For	Against	Against
1.6	Elect Director Richard H. Klein	Mgmt	For	For	For
1.7	Elect Director James H. Richardson	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Alexandria Real Estate Equities, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.8	Elect Director Michael A. Woronoff	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

American Homes 4 Rent

Meeting Date:05/09/2019	Country:USA	Primary Security ID:02665T306
Record Date:03/08/2019	Meeting Type:Annual	Ticker:AMH
	Shares Voted:120,392

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director B. Wayne Hughes	Mgmt	For	For	For
1.2	Elect Director David P. Singelyn	Mgmt	For	For	For
1.3	Elect Director John ‘Jack’ Corrigan	Mgmt	For	For	For
1.4	Elect Director Douglas N. Benham	Mgmt	For	For	For
1.5	Elect Director Tamara Hughes Gustavson	Mgmt	For	For	For
1.6	Elect Director Matthew J. Hart	Mgmt	For	For	For
1.7	Elect Director James H. Kropp	Mgmt	For	For	For
1.8	Elect Director Winifred ‘Wendy’ Webb	Mgmt	For	For	For
1.9	Elect Director Jay Willoughby	Mgmt	For	For	For
1.10	Elect Director Kenneth M. Woolley	Mgmt	For	For	For
2	Ratify Ernst & Young, LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Corporate Office Properties Trust

Meeting Date:05/09/2019	Country:USA	Primary Security ID:22002T108
Record Date:03/12/2019	Meeting Type:Annual	Ticker:OFC

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Corporate Office Properties Trust

Shares Voted:73,256

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Thomas F. Brady	Mgmt	For	For	For
1b	Elect Director Stephen E. Budorick	Mgmt	For	For	For
1c	Elect Director Robert L. Denton, Sr.	Mgmt	For	For	For
1d	Elect Director Philip L. Hawkins	Mgmt	For	For	For
1e	Elect Director David M. Jacobstein	Mgmt	For	For	For
1f	Elect Director Steven D. Kesler	Mgmt	For	For	For
1g	Elect Director C. Taylor Pickett	Mgmt	For	For	For
1h	Elect Director Lisa G. Trimberger	Mgmt	For	For	For
2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Hilton Worldwide Holdings Inc.

Meeting Date:05/09/2019	Country:USA	Primary Security ID:43300A203
Record Date:03/15/2019	Meeting Type:Annual	Ticker:HLT
	Shares Voted:14,630

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Christopher J. Nassetta	Mgmt	For	For	For
1b	Elect Director Jonathan D. Gray	Mgmt	For	For	For
1c	Elect Director Charlene T. Begley	Mgmt	For	For	For
1d	Elect Director Melanie L. Healey	Mgmt	For	For	For
1e	Elect Director Raymond E. Mabus, Jr.	Mgmt	For	For	For
1f	Elect Director Judith A. McHale	Mgmt	For	For	For
1g	Elect Director John G. Schreiber	Mgmt	For	For	For
1h	Elect Director Elizabeth A. Smith	Mgmt	For	For	For
1i	Elect Director Douglas M. Steenland	Mgmt	For	For	For
2	Approve Qualified Employee Stock Purchase Plan	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Hilton Worldwide Holdings Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

SITE Centers Corp.

Meeting Date:05/09/2019	Country:USA	��	Primary Security ID:82981J109
Record Date:03/14/2019	Meeting Type:Annual		Ticker:SITC
	Shares Voted:51,936

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Linda B. Abraham	Mgmt	For	For	For
1.2	Elect Director Terrance R. Ahern	Mgmt	For	For	For
1.3	Elect Director Jane E. DeFlorio	Mgmt	For	For	For
1.4	Elect Director Thomas Finne	Mgmt	For	For	For
1.5	Elect Director David R. Lukes	Mgmt	For	For	For
1.6	Elect Director Victor B. MacFarlane	Mgmt	For	For	For
1.7	Elect Director Alexander Otto	Mgmt	For	For	For
1.8	Elect Director Dawn M. Sweeney	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For
4	Approve Omnibus Stock Plan	Mgmt	For	For	For

Spirit Realty Capital, Inc.

Meeting Date:05/09/2019	Country:USA	Primary Security ID:84860W300
Record Date:03/14/2019	Meeting Type:Annual	Ticker:SRC
	Shares Voted:62,192

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Jackson Hsieh	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Spirit Realty Capital, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.2	Elect Director Kevin M. Charlton	Mgmt	For	For	For
1.3	Elect Director Todd A. Dunn	Mgmt	For	For	For
1.4	Elect Director Richard I. Gilchrist	Mgmt	For	For	For
1.5	Elect Director Sheli Z. Rosenberg	Mgmt	For	For	For
1.6	Elect Director Thomas D. Senkbeil	Mgmt	For	For	For
1.7	Elect Director Nicholas P. Shepherd	Mgmt	For	For	For
1.8	Elect Director Diana M. Laing	Mgmt	For	For	For
1.9	Elect Director Elizabeth F. Frank	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
3	Amend Omnibus Stock Plan	Mgmt	For	Against	Against
4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	Against	Against

The UNITE Group Plc

Meeting Date:05/09/2019	Country:United Kingdom	Primary Security ID:G9283N101
Record Date:05/07/2019	Meeting Type:Annual	Ticker:UTG
	Shares Voted:74,375

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Remuneration Policy	Mgmt	For	For	For
3	Approve Remuneration Report	Mgmt	For	For	For
4	Approve Final Dividend	Mgmt	For	For	For
5	Re-elect Phil White as Director	Mgmt	For	For	For
6	Re-elect Richard Smith as Director	Mgmt	For	For	For
7	Re-elect Joe Lister as Director	Mgmt	For	For	For
8	Re-elect Sir Tim Wilson as Director	Mgmt	For	For	For
9	Re-elect Elizabeth McMeikan as Director	Mgmt	For	For	For
10	Re-elect Ross Paterson as Director	Mgmt	For	For	For
11	Elect Richard Akers as Director	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

The UNITE Group Plc

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
12	Elect Ilaria del Beato as Director	Mgmt	For	For	For
13	Reappoint Deloitte LLP as Auditors	Mgmt	For	For	For
14	Authorise Board to Fix Remuneration of Auditors	Mgmt	For	For	For
15	Authorise Issue of Equity	Mgmt	For	For	For
16	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For
17	Authorise Issue of Equity withoutPre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For
18	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For

WPT Industrial Real Estate Investment Trust

Meeting Date:05/09/2019	Country:Canada	Primary Security ID:92937G109
Record Date:04/04/2019	Meeting Type:Annual	Ticker:WIR.U
	Shares Voted:130,337

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Trustee Scott T. Frederiksen	Mgmt	For	For	For
1.2	Elect Trustee Milo D. Arkema	Mgmt	For	For	For
1.3	Elect Trustee Sarah B. Kavanagh	Mgmt	For	For	For
1.4	Elect Trustee Louie DiNunzio	Mgmt	For	For	For
1.5	Elect Trustee Stuart H.B. Smith	Mgmt	For	For	For
1.6	Elect Trustee Pamela J. Spackman	Mgmt	For	For	For
1.7	Elect Trustee Robert T. Wolf	Mgmt	For	For	For
2	Approve KPMG LLP as Auditors and Authorize Trustees to Fix Their Remuneration	Mgmt	For	For	For
3	Re-approve Deferred Trust Unit Incentive Plan	Mgmt	For	Against	Against

CubeSmart

Meeting Date:05/14/2019	Country:USA	Primary Security ID:229663109
Record Date:03/15/2019	Meeting Type:Annual	Ticker:CUBE

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

CubeSmart

Shares Voted:84,626

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Piero Bussani	Mgmt	For	For	For
1.2	Elect Director Dorothy Dowling	Mgmt	For	For	For
1.3	Elect Director John W. Fain	Mgmt	For	For	For
1.4	Elect Director Marianne M. Keler	Mgmt	For	For	For
1.5	Elect Director Christopher P. Marr	Mgmt	For	For	For
1.6	Elect Director Deborah Ratner Salzberg	Mgmt	For	For	For
1.7	Elect Director John F. Remondi	Mgmt	For	For	For
1.8	Elect Director Jeffrey F. Rogatz	Mgmt	For	For	For
2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Essex Property Trust, Inc.

Meeting Date:05/14/2019	Country:USA	Primary Security ID:297178105
Record Date:02/28/2019	Meeting Type:Annual	Ticker:ESS
	Shares Voted:9,382

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Keith R. Guericke	Mgmt	For	For	For
1.2	Elect Director Amal M. Johnson	Mgmt	For	For	For
1.3	Elect Director Mary Kasaris	Mgmt	For	For	For
1.4	Elect Director Irving F. Lyons, III	Mgmt	For	For	For
1.5	Elect Director George M. Marcus	Mgmt	For	For	For
1.6	Elect Director Thomas E. Robinson	Mgmt	For	For	For
1.7	Elect Director Michael J. Schall	Mgmt	For	For	For
1.8	Elect Director Byron A. Scordelis	Mgmt	For	For	For
1.9	Elect Director Janice L. Sears	Mgmt	For	For	For
2	Ratify KPMG LLP as Auditor	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Essex Property Trust, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Independence Realty Trust, Inc.

Meeting Date:05/14/2019	Country:USA	Primary Security ID:45378A106
Record Date:03/20/2019	Meeting Type:Annual	Ticker:IRT
	Shares Voted:528,119

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Scott F. Schaeffer	Mgmt	For	For	For
1.2	Elect Director William C. Dunkelberg	Mgmt	For	Against	Against
1.3	Elect Director Richard D. Gebert	Mgmt	For	For	For
1.4	Elect Director Melinda H. McClure	Mgmt	For	Against	Against
1.5	Elect Director Mack D. Pridgen, III	Mgmt	For	For	For
1.6	Elect Director Richard H. Ross	Mgmt	For	For	For
1.7	Elect Director DeForest B. Soaries, Jr.	Mgmt	For	Against	Against
2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

AvalonBay Communities, Inc.

Meeting Date:05/16/2019	Country:USA	Primary Security ID:053484101
Record Date:03/05/2019	Meeting Type:Annual	Ticker:AVB
	Shares Voted:27,470

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Glyn F. Aeppel	Mgmt	For	For	For
1b	Elect Director Terry S. Brown	Mgmt	For	For	For
1c	Elect Director Alan B. Buckelew	Mgmt	For	For	For
1d	Elect Director Ronald L. Havner, Jr.	Mgmt	For	For	For
1e	Elect Director Stephen P. Hills	Mgmt	For	For	For
1f	Elect Director Richard J. Lieb	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

AvalonBay Communities, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1g	Elect Director Timothy J. Naughton	Mgmt	For	For	For
1h	Elect Director H. Jay Sarles	Mgmt	For	For	For
1i	Elect Director Susan Swanezy	Mgmt	For	For	For
1j	Elect Director W. Edward Walter	Mgmt	For	For	For
2	Ratify Ernst & Young LLP as Auditor	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Crown Castle International Corp.

Meeting Date:05/16/2019	Country:USA	Primary Security ID:22822V101
Record Date:03/22/2019	Meeting Type:Annual	Ticker:CCI
	Shares Voted:18,769

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director P. Robert Bartolo	Mgmt	For	For	For
1b	Elect Director Jay A. Brown	Mgmt	For	For	For
1c	Elect Director Cindy Christy	Mgmt	For	For	For
1d	Elect Director Ari Q. Fitzgerald	Mgmt	For	For	For
1e	Elect Director Robert E. Garrison, II	Mgmt	For	For	For
1f	Elect Director Andrea J. Goldsmith	Mgmt	For	For	For
1g	Elect Director Lee W. Hogan	Mgmt	For	For	For
1h	Elect Director Edward C. Hutcheson, Jr.	Mgmt	For	For	For
1i	Elect Director J. Landis Martin	Mgmt	For	For	For
1j	Elect Director Robert F. McKenzie	Mgmt	For	For	For
1k	Elect Director Anthony J. Melone	Mgmt	For	For	For
1l	Elect Director W. Benjamin Moreland	Mgmt	For	For	For
2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Dream Industrial Real Estate Investment Trust

Meeting Date:05/16/2019	Country:Canada	Primary Security ID:26153W109
Record Date:04/02/2019	Meeting Type:Annual	Ticker:DIR.UN
	Shares Voted:389,200

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Trustee Michael J. Cooper	Mgmt	For	For	For
1.2	Elect Trustee J. Michael Knowlton	Mgmt	For	For	For
1.3	Elect Trustee Ben Mulroney	Mgmt	For	For	For
1.4	Elect Trustee Brian Pauls	Mgmt	For	For	For
1.5	Elect Trustee Vicky Schiff	Mgmt	For	For	For
1.6	Elect Trustee Leerom Segal	Mgmt	For	For	For
1.7	Elect Trustee Vincenza Sera	Mgmt	For	For	For
1.8	Elect Trustee Sheldon Wiseman	Mgmt	For	For	For
2	Approve PricewaterhouseCoopers LLP as Auditors and Authorize The Trustees to Fix Their Remuneration	Mgmt	For	For	For

Kilroy Realty Corporation

Meeting Date:05/16/2019	Country:USA	Primary Security ID:49427F108
Record Date:03/08/2019	Meeting Type:Annual	Ticker:KRC
	Shares Voted:20,214

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director John B. Kilroy, Jr.	Mgmt	For	For	For
1b	Elect Director Edward Brennan	Mgmt	For	Against	Against
1c	Elect Director Jolie Hunt	Mgmt	For	Against	Against
1d	Elect Director Scott Ingraham	Mgmt	For	For	For
1e	Elect Director Gary Stevenson	Mgmt	For	Against	Against
1f	Elect Director Peter Stoneberg	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	Against	Against
3	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Two Harbors Investment Corp.

Meeting Date:05/16/2019	Country:USA	Primary Security ID:90187B408
Record Date:03/22/2019	Meeting Type:Annual	Ticker:TWO
	Shares Voted:22,352

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director E. Spencer Abraham	Mgmt	For	For	For
1b	Elect Director James J. Bender	Mgmt	For	For	For
1c	Elect Director Karen Hammond	Mgmt	For	For	For
1d	Elect Director Stephen G. Kasnet	Mgmt	For	For	For
1e	Elect Director William Roth	Mgmt	For	For	For
1f	Elect Director W. Reid Sanders	Mgmt	For	For	For
1g	Elect Director Thomas E. Siering	Mgmt	For	For	For
1h	Elect Director James A. Stern	Mgmt	For	For	For
1i	Elect Director Hope B. Woodhouse	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Vonovia SE

Meeting Date:05/16/2019	Country:Germany	Primary Security ID:D9581T100
Record Date:	Meeting Type:Annual	Ticker:VNA
	Shares Voted:26,003

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Receive Financial Statements and Statutory Reports for Fiscal 2018(Non-Voting)	Mgmt
2	Approve Allocation of Income and Dividends of EUR 1.44 per Share	Mgmt	For	For	For
3	Approve Discharge of Management Board for Fiscal 2018	Mgmt	For	For	For
4	Approve Discharge of Supervisory Board for Fiscal 2018	Mgmt	For	For	For
5	Ratify KPMG AG as Auditors for Fiscal 2019	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Tanger Factory Outlet Centers, Inc.

Meeting Date:05/17/2019	Country:USA	Primary Security ID:875465106
Record Date:03/20/2019	Meeting Type:Annual	Ticker:SKT
	Shares Voted:110,462

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director William G. Benton	Mgmt	For	For	For
1.2	Elect Director Jeffrey B. Citrin	Mgmt	For	For	For
1.3	Elect Director David B. Henry	Mgmt	For	For	For
1.4	Elect Director Thomas J. Reddin	Mgmt	For	For	For
1.5	Elect Director Thomas E. Robinson	Mgmt	For	For	For
1.6	Elect Director Bridget M. Ryan-Berman	Mgmt	For	For	For
1.7	Elect Director Allan L. Schuman	Mgmt	For	For	For
1.8	Elect Director Susan E. Skerritt	Mgmt	For	For	For
1.9	Elect Director Steven B. Tanger	Mgmt	For	For	For
2	Ratify Deloitte & Touche LLP as Auditor	Mgmt	For	For	For
3	Amend Omnibus Stock Plan	Mgmt	For	For	For
4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Weyerhaeuser Company

Meeting Date:05/17/2019	Country:USA	Primary Security ID:962166104
Record Date:03/22/2019	Meeting Type:Annual	Ticker:WY
	Shares Voted:39,744

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Mark A. Emmert	Mgmt	For	For	For
1.2	Elect Director Rick R. Holley	Mgmt	For	For	For
1.3	Elect Director Sara Grootwassink Lewis	Mgmt	For	For	For
1.4	Elect Director Nicole W. Piasecki	Mgmt	For	For	For
1.5	Elect Director Marc F. Racicot	Mgmt	For	For	For
1.6	Elect Director Lawrence A. Selzer	Mgmt	For	For	For
1.7	Elect Director D. Michael Steuert	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Weyerhaeuser Company

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.8	Elect Director Devin W. Stockfish	Mgmt	For	For	For
1.9	Elect Director Kim Williams	Mgmt	For	For	For
1.10	Elect Director Charles R. Williamson	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	Against	Against
3	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

Sun Communities, Inc.

Meeting Date:05/21/2019	Country:USA	Primary Security ID:866674104
Record Date:03/08/2019	Meeting Type:Annual	Ticker:SUI
	Shares Voted:26,460

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1A	Elect Director Gary A. Shiffman	Mgmt	For	For	For
1B	Elect Director Meghan G. Baivier	Mgmt	For	For	For
1C	Elect Director Stephanie W. Bergeron	Mgmt	For	For	For
1D	Elect Director Brian M. Hermelin	Mgmt	For	For	For
1E	Elect Director Ronald A. Klein	Mgmt	For	For	For
1F	Elect Director Clunet R. Lewis	Mgmt	For	For	For
1G	Elect Director Arthur A. Weiss	Mgmt	For	For	For
2	Ratify Grant Thornton LLP as Auditor	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

TLG Immobilien AG

Meeting Date:05/21/2019	Country:Germany	Primary Security ID:D8T622108
Record Date:04/29/2019	Meeting Type:Annual	Ticker:TLG

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

TLG Immobilien AG

Shares Voted:42,197

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Receive Financial Statements and Statutory Reports for Fiscal 2018(Non-Voting)	Mgmt
2	Approve Allocation of Income and Dividends of EUR 0.91 per Share	Mgmt	For	For	For
3	Approve Discharge of Management Board for Fiscal 2018	Mgmt	For	For	For
4	Approve Discharge of Supervisory Board for Fiscal 2018	Mgmt	For	For	For
5	Ratify Ernst & Young GmbH as Auditors for Fiscal 2019	Mgmt	For	For	For
6.1	Elect Jonathan Lurie to the Supervisory Board	Mgmt	For	For	For
6.2	Elect Klaus Kraegel to the Supervisory Board	Mgmt	For	For	For
6.3	Elect Lars Wittan to the Supervisory Board	Mgmt	For	For	For
7	Approve Creation of EUR 10 Million Pool of Capital with Preemptive Rights	Mgmt	For	For	For
8	Authorize Share Repurchase Program and Reissuance or Cancellation of Repurchased Shares	Mgmt	For	For	For
9	Authorize Use of Financial Derivatives when Repurchasing Shares	Mgmt	For	For	For

Altarea SCA

Meeting Date:05/23/2019	Country:France	Primary Security ID:F0261X121
Record Date:05/20/2019	Meeting Type:Annual/Special	Ticker:ALTA
	Shares Voted:2,662

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Ordinary Business	Mgmt
1	Approve Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Consolidated Financial Statements and Statutory Reports	Mgmt	For	For	For
3	Approve Allocation of Income and Dividends of EUR 12.75 per Share	Mgmt	For	For	For
4	Approve Stock Dividend Program	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Altarea SCA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
5	Approve Remuneration of General Manager	Mgmt	For	For	For
6	Approve Auditors’ Special Report on Related-Party Transactions	Mgmt	For	For	For
7	Ratify Appointment of Leonore Reviron as Supervisory Board Member	Mgmt	For	Against	Against
8	Ratify Appointment of Philippe Mauro as Supervisory Board Member	Mgmt	For	Against	Against
9	Reelect Francoise Debrus as Supervisory Board Member	Mgmt	For	Against	Against
10	Reelect Eliane Fremeaux as Supervisory Board Member	Mgmt	For	Against	Against
11	Reelect Christian de Gournay as Supervisory Board Member	Mgmt	For	Against	Against
12	Reelect Jacques Nicolet as Supervisory Board Member	Mgmt	For	Against	Against
13	Reelect Stichting Depositary APG Strategic Real Estate Pool as Supervisory Board Member	Mgmt	For	Against	Against
14	Reelect PREDICA as Supervisory Board Member	Mgmt	For	Against	Against
15	Authorize Repurchase of Up to 10 Percent of Issued Share Capital	Mgmt	For	Against	Against
	Extraordinary Business	Mgmt
16	Authorize Decrease in Share Capital via Cancellation of Repurchased Shares	Mgmt	For	For	For
17	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 95 Million	Mgmt	For	Against	Against
18	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 95 Million	Mgmt	For	Against	Against
19	Approve Issuance of Equity or Equity-Linked Securities for Private Placements, up to Aggregate Nominal Amount of EUR 95 Million	Mgmt	For	Against	Against
20	Authorize Board to Set Issue Price for 10 Percent Per Year of Issued Capital Pursuant to Issue Authority without Preemptive Rights	Mgmt	For	Against	Against
21	Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above	Mgmt	For	Against	Against
22	Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind	Mgmt	For	Against	Against

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Altarea SCA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
23	Approve Issuance of Equity or Equity-Linked Securities Reserved for Specific Beneficiaries, up to Aggregate Nominal Amount of EUR 20 Million	Mgmt	For	Against	Against
24	Authorize Capital Increase of Up to EUR 95 Million for Future Exchange Offers	Mgmt	For	Against	Against
25	Set Total Limit for Capital Increase to Result from Issuance Requests Under Items17-19,21-24 and27-30 at EUR 95 Million	Mgmt	For	For	For
26	Authorize Capitalization of Reserves of Up to EUR 95 Million for Bonus Issue or Increase in Par Value	Mgmt	For	Against	Against
27	Authorize Capital Issuances for Use in Employee Stock Purchase Plans	Mgmt	For	For	For
28	Authorize up to 350,000 Shares for Use in Restricted Stock Plans	Mgmt	For	Against	Against
29	Authorize up to 350,000 Shares for Use in Stock Option Plans	Mgmt	For	Against	Against
30	Approve Issuance of Warrants (BSA, BSAANE, BSAAR) Without Preemptive Rights Reserved for Corporate Officers, Executives and Key Employees	Mgmt	For	Against	Against
31	Authorize Filing of Required Documents/Other Formalities	Mgmt	For	For	For

Hudson Pacific Properties, Inc.

Meeting Date:05/23/2019	Country:USA	Primary Security ID:444097109
Record Date:03/25/2019	Meeting Type:Annual	Ticker:HPP
	Shares Voted:37,232

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Victor J. Coleman	Mgmt	For	For	For
1.2	Elect Director Theodore R. Antenucci	Mgmt	For	For	For
1.3	Elect Director Richard B. Fried	Mgmt	For	For	For
1.4	Elect Director Jonathan M. Glaser	Mgmt	For	For	For
1.5	Elect Director Robert L. Harris, II	Mgmt	For	For	For
1.6	Elect Director Christy Haubegger	Mgmt	For	For	For
1.7	Elect Director Mark D. Linehan	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Hudson Pacific Properties, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.8	Elect Director Robert M. Moran, Jr.	Mgmt	For	Against	Against
1.9	Elect Director Barry A. Porter	Mgmt	For	Against	Against
1.10	Elect Director Andrea Wong	Mgmt	For	Against	Against
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Irish Residential Properties REIT Plc

Meeting Date:05/28/2019	Country:Ireland	Primary Security ID:G49456109
Record Date:05/26/2019	Meeting Type:Annual	Ticker:IRES
	Shares Voted:326,114

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Elect Mark Kenney as Director	Mgmt	For	For	For
3a	Re-elect Phillip Burns as Director	Mgmt	For	For	For
3b	Re-elect Joan Garahy as Director	Mgmt	For	For	For
3c	Re-elect Tom Kavanagh as Director	Mgmt	For	For	For
3d	Re-elect Declan Moylan as Director	Mgmt	For	For	For
3e	Re-elect Aidan O’Hogan as Director	Mgmt	For	For	For
3f	Re-elect Margaret Sweeney as Director	Mgmt	For	For	For
4	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For
5	Authorise Board to Fix Remuneration of Auditors	Mgmt	For	For	For
6	Authorise Issue of Equity	Mgmt	For	For	For
7a	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For
7b	Authorise Issue of Equity withoutPre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For
8	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For
9	Authorise Reissuance of Treasury Shares	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

LEG Immobilien AG

Meeting Date:05/29/2019	Country:Germany	Primary Security ID:D4960A103
Record Date:	Meeting Type:Annual	Ticker:LEG
	Shares Voted:13,851

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Receive Financial Statements and Statutory Reports for Fiscal 2018(Non-Voting)	Mgmt
2	Approve Allocation of Income and Dividends of EUR 3.53 per Share	Mgmt	For	For	For
3	Approve Discharge of Management Board for Fiscal 2018	Mgmt	For	For	For
4	Approve Discharge of Supervisory Board for Fiscal 2018	Mgmt	For	For	For
5	Ratify PricewaterhouseCoopers GmbH as Auditors for Fiscal 2019	Mgmt	For	For	For

Champion Real Estate Investment Trust

Meeting Date:05/30/2019	Country:Hong Kong	Primary Security ID:Y1292D109
Record Date:05/24/2019	Meeting Type:Annual	Ticker:2778
	Shares Voted:783,000

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Note Audited Financial Statements Together with the Auditors’ Report	Mgmt
2	Note Appointment of Auditor and Fixing of Their Remuneration	Mgmt
3	Elect Cha Mou Sing, Payson as Director	Mgmt	For	For	For
4	Elect Shek Lai Him, Abraham as Director	Mgmt	For	Against	Against
5	Authorize Repurchase of Issued Share Capital	Mgmt	For	For	For

EPR Properties

Meeting Date:05/30/2019	Country:USA	Primary Security ID:26884U109
Record Date:03/08/2019	Meeting Type:Annual	Ticker:EPR

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

EPR Properties

Shares Voted:41,405

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Barrett Brady	Mgmt	For	For	For
1.2	Elect Director Peter C. Brown	Mgmt	For	For	For
1.3	Elect Director James B. Connor	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

Equinix, Inc.

Meeting Date:05/30/2019	Country:USA	Primary Security ID:29444U700
Record Date:04/15/2019	Meeting Type:Annual	Ticker:EQIX
	Shares Voted:4,599

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Thomas Bartlett	Mgmt	For	For	For
1.2	Elect Director Nanci Caldwell	Mgmt	For	For	For
1.3	Elect Director Gary Hromadko	Mgmt	For	For	For
1.4	Elect Director Scott Kriens	Mgmt	For	For	For
1.5	Elect Director William Luby	Mgmt	For	For	For
1.6	Elect Director Irving Lyons, III	Mgmt	For	For	For
1.7	Elect Director Charles Meyers	Mgmt	For	For	For
1.8	Elect Director Christopher Paisley	Mgmt	For	For	For
1.9	Elect Director Peter Van Camp	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Approve Omnibus Stock Plan	Mgmt	For	For	For
4	Ratify PricewaterhouseCoopers LLP as Auditor	Mgmt	For	For	For
5	Report on Political Contributions	SH	Against	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

ESH Hospitality, Inc.

Meeting Date:05/30/2019	Country:USA	Primary Security ID:26907Y104
Record Date:04/11/2019	Meeting Type:Annual	Ticker:N/A
	Shares Voted:138,107

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Jonathan S. Halkyard	Mgmt	For	For	For
1.2	Elect Director Douglas G. Geoga	Mgmt	For	For	For
1.3	Elect Director Kapila K. Anand	Mgmt	For	For	For
1.4	Elect Director Neil T. Brown	Mgmt	For	For	For
1.5	Elect Director Bruce N. Haase	Mgmt	For	For	For
1.6	Elect Director Steven E. Kent	Mgmt	For	For	For
1.7	Elect Director Lisa Palmer	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify Deloitte & Touche LLP as Auditor	Mgmt	For	For	For

Extended Stay America, Inc.

Meeting Date:05/30/2019	Country:USA	Primary Security ID:30224P200
Record Date:04/11/2019	Meeting Type:Annual	Ticker:STAY
	Shares Voted:138,107

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Jonathan S. Halkyard	Mgmt	For	For	For
1.2	Elect Director Douglas G. Geoga	Mgmt	For	For	For
1.3	Elect Director Kapila K. Anand	Mgmt	For	For	For
1.4	Elect Director Ellen Keszler	Mgmt	For	For	For
1.5	Elect Director Jodie W. McLean	Mgmt	For	For	For
1.6	Elect Director Thomas F. O’Toole	Mgmt	For	For	For
1.7	Elect Director Richard F. Wallman	Mgmt	For	For	For
2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
3	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Invitation Homes, Inc.

Meeting Date:05/30/2019	Country:USA	Primary Security ID:46187W107
Record Date:04/02/2019	Meeting Type:Annual	Ticker:INVH
	Shares Voted:215,678

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Bryce Blair	Mgmt	For	For	For
1.2	Elect Director Dallas B. Tanner	Mgmt	For	For	For
1.3	Elect Director Jana Cohen Barbe	Mgmt	For	For	For
1.4	Elect Director Richard D. Bronson	Mgmt	For	For	For
1.5	Elect Director Kenneth A. Caplan	Mgmt	For	For	For
1.6	Elect Director Michael D. Fascitelli	Mgmt	For	For	For
1.7	Elect Director Robert G. Harper	Mgmt	For	For	For
1.8	Elect Director Jeffrey E. Kelter	Mgmt	For	For	For
1.9	Elect Director John B. Rhea	Mgmt	For	For	For
1.10	Elect Director Janice L. Sears	Mgmt	For	For	For
1.11	Elect Director William J. Stein	Mgmt	For	For	For
1.12	Elect Director Barry S. Sternlicht	Mgmt	For	Withhold	Withhold
2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For
4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

Taubman Centers, Inc.

Meeting Date:05/30/2019	Country:USA	Primary Security ID:876664103
Record Date:04/30/2019	Meeting Type:Annual	Ticker:TCO
	Shares Voted:46,911

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Mayree C. Clark	Mgmt	For	For	For
1.2	Elect Director Michael J. Embler	Mgmt	For	For	For
1.3	Elect Director Janice L. Fields	Mgmt	For	For	For
1.4	Elect Director Michelle J. Goldberg	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Taubman Centers, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.5	Elect Director Nancy Killefer	Mgmt	For	For	For
1.6	Elect Director Ronald W. Tysoe	Mgmt	For	For	For
2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Industrial Logistics Properties Trust

Meeting Date:06/03/2019	Country:USA	Primary Security ID:456237106
Record Date:01/31/2019	Meeting Type:Annual	Ticker:ILPT
	Shares Voted:168,301

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Lisa Harris Jones	Mgmt	For	Withhold	Withhold
1.2	Elect Director John G. Murray	Mgmt	For	Withhold	Withhold
2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For
3	Adopt Plurality Voting for Contested Election of Directors	Mgmt	For	For	For

The Macerich Company

Meeting Date:06/07/2019	Country:USA	Primary Security ID:554382101
Record Date:03/25/2019	Meeting Type:Annual	Ticker:MAC
	Shares Voted:27,229

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Peggy Alford	Mgmt	For	For	For
1b	Elect Director John H. Alschuler	Mgmt	For	For	For
1c	Elect Director Eric K. Brandt	Mgmt	For	For	For
1d	Elect Director Edward C. Coppola	Mgmt	For	For	For
1e	Elect Director Steven R. Hash	Mgmt	For	For	For
1f	Elect Director Daniel J. Hirsch	Mgmt	For	For	For
1g	Elect Director Diana M. Laing	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

The Macerich Company

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1h	Elect Director Thomas E. O’Hern	Mgmt	For	For	For
1i	Elect Director Steven L. Soboroff	Mgmt	For	For	For
1j	Elect Director Andrea M. Stephen	Mgmt	For	For	For
2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	Against	Against

Primary Health Properties Plc

Meeting Date:06/11/2019	Country:United Kingdom	Primary Security ID:G7240B186
Record Date:06/07/2019	Meeting Type:Annual	Ticker:PHP
	Shares Voted:293,943

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Remuneration Report	Mgmt	For	For	For
3	Approve the Company’s Dividend Policy	Mgmt	For	For	For
4	Reappoint Deloitte LLP as Auditors	Mgmt	For	For	For
5	Authorise the Audit Committee to Fix Remuneration of Auditors	Mgmt	For	For	For
6	Re-elect Steven Owen as Director	Mgmt	For	For	For
7	Re-elect Harry Hyman as Director	Mgmt	For	For	For
8	Re-elect Richard Howell as Director	Mgmt	For	For	For
9	Re-elect Dr Stephen Kell as Director	Mgmt	For	For	For
10	Re-elect Ian Krieger as Director	Mgmt	For	For	For
11	Elect Peter Cole as Director	Mgmt	For	For	For
12	Elect Helen Mahy as Director	Mgmt	For	For	For
13	Elect Laure Duhot as Director	Mgmt	For	For	For
14	Authorise Issue of Equity	Mgmt	For	For	For
15	Authorise Issue of Equity withoutPre-emptive Rights	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Primary Health Properties Plc

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
16	Authorise Issue of Equity withoutPre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For
17	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For
18	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For
19	Approve Scrip Dividend	Mgmt	For	For	For
20	Authorise EU Political Donations and Expenditure	Mgmt	For	For	For

Canadian Apartment Properties Real Estate Investment Trust

Meeting Date:06/13/2019	Country:Canada	Primary Security ID:134921105
Record Date:05/09/2019	Meeting Type:Annual/Special	Ticker:CAR.UN
	Shares Voted:22,879

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Trustee Harold Burke	Mgmt	For	For	For
1.2	Elect Trustee Gina Parvaneh Cody	Mgmt	For	For	For
1.3	Elect Trustee Paul Harris	Mgmt	For	For	For
1.4	Elect Trustee Mark Kenney	Mgmt	For	For	For
1.5	Elect Trustee Poonam Puri	Mgmt	For	For	For
1.6	Elect Trustee Jamie Schwartz	Mgmt	For	For	For
1.7	Elect Trustee Michael Stein	Mgmt	For	For	For
1.8	Elect Trustee Elaine Todres	Mgmt	For	For	For
2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For
3	Advisory Vote on Executive Compensation Approach	Mgmt	For	For	For
4	Approve Unitholders Rights Plan	Mgmt	For	For	For

Inmobiliaria Colonial SOCIMI SA

Meeting Date:06/13/2019	Country:Spain	Primary Security ID:E6451E105
Record Date:06/07/2019	Meeting Type:Annual	Ticker:COL

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Inmobiliaria Colonial SOCIMI SA

Shares Voted:96,796

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Approve Consolidated Financial Statements	Mgmt	For	For	For
1.2	Approve Standalone Financial Statements	Mgmt	For	For	For
2.1	Approve Allocation of Income	Mgmt	For	For	For
2.2	Approve Dividends	Mgmt	For	For	For
3	Approve Discharge of Board	Mgmt	For	For	For
4	Renew Appointment of PricewaterhouseCoopers as Auditor	Mgmt	For	For	For
5	Authorize Increase in Capital up to 50 Percent via Issuance of Equity or Equity-Linked Securities, Excluding Preemptive Rights of up to 20 Percent	Mgmt	For	Against	Against
6	Authorize Company to Call EGM with 15 Days’ Notice	Mgmt	For	For	For
7	Fix Number of Directors at 13	Mgmt	For	For	For
8.1	Ratify Appointment of and Elect Silvia Monica Alonso-Castrillo Allain as Director	Mgmt	For	For	For
8.2	Elect Ana Peralta Moreno as Director	Mgmt	For	For	For
8.3	Allow Ana Bolado Valle to Be Involved in Other Companies	Mgmt	For	For	For
8.4	Elect Ana Bolado Valle as Director	Mgmt	For	For	For
9	Advisory Vote on Remuneration Report	Mgmt	For	Against	Against
10	Approve Remuneration Policy	Mgmt	For	Against	Against
11	Authorize Board to Ratify and Execute Approved Resolutions	Mgmt	For	For	For

Deutsche Wohnen SE

Meeting Date:06/18/2019	Country:Germany	Primary Security ID:D2046U176
Record Date:05/27/2019	Meeting Type:Annual	Ticker:DWNI
	Shares Voted:43,706

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Receive Financial Statements and Statutory Reports for Fiscal 2018(Non-Voting)	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Deutsche Wohnen SE

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Approve Allocation of Income and Dividends of EUR 0.87 per Share	Mgmt	For	Against	Against
3	Approve Discharge of Management Board for Fiscal 2018	Mgmt	For	For	For
4	Approve Discharge of Supervisory Board for Fiscal 2018	Mgmt	For	For	For
5	Ratify KPMG AG as Auditors for Fiscal 2019	Mgmt	For	For	For
6	Elect Arwed Fischer to the Supervisory Board	Mgmt	For	For	For

ADO Properties S.A.

Meeting Date:06/20/2019	Country:Luxembourg	Primary Security ID:L0120V103
Record Date:06/06/2019	Meeting Type:Annual	Ticker:ADJ
	Shares Voted:11,502

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Annual Meeting Agenda	Mgmt
1	Receive Special Board’s Reports(Non-Voting)	Mgmt
2	Receive Management Board Report on Financial Statements and Statutory Reports(Non-Voting)	Mgmt
3	Approve Financial Statements	Mgmt	For	For	For
4	Approve Consolidated Financial Statements	Mgmt	For	For	For
5	Approve Allocation of Income and Dividends	Mgmt	For	For	For
6	Reelect Rabin Savion as Director	Mgmt	For	Against	Against
7	Reelect Michael Butter as Director	Mgmt	For	For	For
8	Reelect Amit Segev as Director	Mgmt	For	Against	Against
9	Reelect Jorn Stobbe as Director	Mgmt	For	For	For
10	Approve Remuneration of Moshe Dayan as Director	Mgmt	For	For	For
11	Approve Remuneration of Sebastian-Dominik Jais as Director	Mgmt	For	For	For
12	Approve Remuneration of Constantin Papadimitriou as Director	Mgmt	For	For	For
13	Approve Increase in Size of Board of Directors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

ADO Properties S.A.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
14	Approve Remuneration of Directors	Mgmt	For	For	For
15	Approve Discharge of Directors	Mgmt	For	For	For
16	Renew Appointment of KPMG Luxembourg as Auditor	Mgmt	For	For	For

LondonMetric Property Plc

Meeting Date:06/20/2019	Country:United Kingdom	Primary Security ID:G5689W109
Record Date:06/18/2019	Meeting Type:Special	Ticker:LMP
	Shares Voted:654,429

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Acquisition of the Entire Issued Share Capital of A&J Mucklow Group Plc	Mgmt	For	For	For

Sabra Health Care REIT, Inc.

Meeting Date:06/21/2019	Country:USA	Primary Security ID:78573L106
Record Date:04/24/2019	Meeting Type:Annual	Ticker:SBRA
	Shares Voted:96,539

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1a	Elect Director Craig A. Barbarosh	Mgmt	For	For	For
1b	Elect Director Robert A. Ettl	Mgmt	For	For	For
1c	Elect Director Michael J. Foster	Mgmt	For	For	For
1d	Elect Director Ronald G. Geary	Mgmt	For	For	For
1e	Elect Director Lynne S. Katzmann	Mgmt	For	For	For
1f	Elect Director Raymond J. Lewis	Mgmt	For	For	For
1g	Elect Director Jeffrey A. Malehorn	Mgmt	For	For	For
1h	Elect Director Richard K. Matros	Mgmt	For	For	For
1i	Elect Director Milton J. Walters	Mgmt	For	For	For
2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Sabra Health Care REIT, Inc.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Echo Investment SA

Meeting Date:06/25/2019	Country:Poland	Primary Security ID:X1896T105
Record Date:06/09/2019	Meeting Type:Annual	Ticker:ECH
	Shares Voted:312,200

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Open Meeting	Mgmt
2	Elect Meeting Chairman	Mgmt	For	For	For
3	Prepare List of Shareholders	Mgmt
4	Acknowledge Proper Convening of Meeting	Mgmt
5	Approve Agenda of Meeting	Mgmt	For	For	For
6	Receive Management Board Report on Company’s Operations, Financial Statements, and Consolidated Financial Statements	Mgmt
7	Receive Supervisory Board Report	Mgmt
8.1	Approve Management Board Report on Company’s and Group’s Operations	Mgmt	For	For	For
8.2	Approve Financial Statements	Mgmt	For	For	For
8.3	Approve Consolidated Financial Statements	Mgmt	For	For	For
8.4	Approve Allocation of Income from Previous Years	Mgmt	For	For	For
8.5	Approve Allocation of Income and Dividends	Mgmt	For	For	For
8.6a	Approve Discharge of Nicklas Lindberg (CEO)	Mgmt	For	For	For
8.6b	Approve Discharge of Piotr Gromniak (Deputy CEO)	Mgmt	For	For	For
8.6c	Approve Discharge of Maciej Drozd (Deputy CEO)	Mgmt	For	For	For
8.6d	Approve Discharge of Artur Langner (Deputy CEO)	Mgmt	For	For	For
8.6e	Approve Discharge of Waldemar Olbryk (Management Board Member)	Mgmt	For	For	For
8.6f	Approve Discharge of Marcin Materny (Management Board Member)	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Echo Investment SA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
8.6g	Approve Discharge of Rafal Mazurczak (Management Board Member)	Mgmt	For	For	For
8.7a	Approve Discharge of Karim Khairallah (Supervisory Board Chairman)	Mgmt	For	For	For
8.7b	Approve Discharge of Laurent Luccioni (Supervisory Board Deputy Chairman)	Mgmt	For	For	For
8.7c	Approve Discharge of Maciej Dyjas (Supervisory Board Member)	Mgmt	For	For	For
8.7d	Approve Discharge of Stefan Kawalec (Supervisory Board Member)	Mgmt	For	For	For
8.7e	Approve Discharge of Nebil Senman (Supervisory Board Member)	Mgmt	For	For	For
8.7f	Approve Discharge of Sebastian Zilles (Supervisory Board Member)	Mgmt	For	For	For
8.7g	Approve Discharge of Mark Abramson (Supervisory Board Member)	Mgmt	For	For	For
8.8	Fix Number of Supervisory Board Members	Mgmt	For	Against	Against
9.1	Elect Supervisory Board Member	Mgmt	For	Against	Against
9.2	Elect Supervisory Board Member	Mgmt	For	Against	Against
9.3	Elect Supervisory Board Member	Mgmt	For	Against	Against
9.4	Elect Supervisory Board Member	Mgmt	For	Against	Against
9.5	Elect Supervisory Board Member	Mgmt	For	Against	Against
9.6	Elect Supervisory Board Member	Mgmt	For	Against	Against
9.7	Elect Supervisory Board Member	Mgmt	For	Against	Against
10	Close Meeting	Mgmt

Aroundtown SA

Meeting Date:06/26/2019	Country:Luxembourg	Primary Security ID:L0269F109
Record Date:06/12/2019	Meeting Type:Annual	Ticker:AT1
	Shares Voted:370,005

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Annual Meeting Agenda	Mgmt
1	Receive Special Board Report Re: Statutory Financial Statements and Consolidated Financial Statements	Mgmt

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Aroundtown SA

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
2	Receive Special Auditor Report Re: Statutory Financial Statements and Consolidated Financial Statements	Mgmt
3	Approve Financial Statements	Mgmt	For	For	For
4	Approve Consolidated Financial Statements	Mgmt	For	For	For
5	Approve Allocation of Income	Mgmt	For	For	For
6	Approve Discharge of Directors	Mgmt	For	For	For
7	Reelect Jelena Afxentiou as Director	Mgmt	For	Against	Against
8	Reelect Oschrie Massatschi as Director	Mgmt	For	Against	Against
9	Reelect Frank Roseen as Director	Mgmt	For	Against	Against
10	Reelect Markus Leininger as Director	Mgmt	For	For	For
11	Reelect Markus Kreuter as Director	Mgmt	For	For	For
12	Renew Appointment of KPMG Luxembourg as Auditor	Mgmt	For	For	For
13	Approve Dividends of EUR 0.2535 Per Share	Mgmt	For	For	For

Leopalace21 Corp.

Meeting Date:06/27/2019	Country:Japan	Primary Security ID:J38781100
Record Date:03/31/2019	Meeting Type:Annual	Ticker:8848
	Shares Voted:551,200

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.1	Elect Director Miyao, Bunya	Mgmt	For	Against	For
1.2	Elect Director Ashida, Shigeru	Mgmt	For	For	For
1.3	Elect Director Nanameki, Katsuhiko	Mgmt	For	For	For
1.4	Elect Director Hayashima, Mayumi	Mgmt	For	For	For
1.5	Elect Director Okamoto, Seishi	Mgmt	For	For	For
1.6	Elect Director Kodama, Tadashi	Mgmt	For	Against	For
1.7	Elect Director Taya, Tetsuji	Mgmt	For	Against	For
1.8	Elect Director Sasao, Yoshiko	Mgmt	For	Against	For
1.9	Elect Director Murakami, Yoshitaka	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Leopalace21 Corp.

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1.10	Elect Director Koga, Hisafumi	Mgmt	For	For	For
2	Appoint Statutory Auditor Yuhara, Takao	Mgmt	For	Against	For

Mitsubishi Estate Co., Ltd.

Meeting Date:06/27/2019	Country:Japan	Primary Security ID:J43916113
Record Date:03/31/2019	Meeting Type:Annual	Ticker:8802
	Shares Voted:201,100

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Allocation of Income, with a Final Dividend of JPY 17	Mgmt	For	For	For
2.1	Elect Director Sugiyama, Hirotaka	Mgmt	For	For	For
2.2	Elect Director Yoshida, Junichi	Mgmt	For	For	For
2.3	Elect Director Tanisawa, Junichi	Mgmt	For	For	For
2.4	Elect Director Arimori, Tetsuji	Mgmt	For	For	For
2.5	Elect Director Katayama, Hiroshi	Mgmt	For	For	For
2.6	Elect Director Naganuma, Bunroku	Mgmt	For	For	For
2.7	Elect Director Kato, Jo	Mgmt	For	For	For
2.8	Elect Director Okusa, Toru	Mgmt	For	For	For
2.9	Elect Director Okamoto, Tsuyoshi	Mgmt	For	For	For
2.10	Elect Director Ebihara, Shin	Mgmt	For	For	For
2.11	Elect Director Narukawa, Tetsuo	Mgmt	For	For	For
2.12	Elect Director Shirakawa, Masaaki	Mgmt	For	For	For
2.13	Elect Director Nagase, Shin	Mgmt	For	For	For
2.14	Elect Director Egami, Setsuko	Mgmt	For	For	For
2.15	Elect Director Taka, Iwao	Mgmt	For	For	For

Mitsui Fudosan Co., Ltd.

Meeting Date:06/27/2019	Country:Japan	Primary Security ID:J4509L101
Record Date:03/31/2019	Meeting Type:Annual	Ticker:8801

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

Mitsui Fudosan Co., Ltd.

Shares Voted:175,300

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
1	Approve Allocation of Income, with a Final Dividend of JPY 24	Mgmt	For	For	For
2.1	Elect Director Iwasa, Hiromichi	Mgmt	For	For	For
2.2	Elect Director Komoda, Masanobu	Mgmt	For	For	For
2.3	Elect Director Kitahara, Yoshikazu	Mgmt	For	For	For
2.4	Elect Director Fujibayashi, Kiyotaka	Mgmt	For	For	For
2.5	Elect Director Onozawa, Yasuo	Mgmt	For	For	For
2.6	Elect Director Ishigami, Hiroyuki	Mgmt	For	For	For
2.7	Elect Director Yamamoto, Takashi	Mgmt	For	For	For
2.8	Elect Director Hamamoto, Wataru	Mgmt	For	For	For
2.9	Elect Director Egawa, Masako	Mgmt	For	For	For
2.10	Elect Director Nogimori, Masafumi	Mgmt	For	For	For
2.11	Elect Director Nakayama, Tsunehiro	Mgmt	For	For	For
2.12	Elect Director Ito, Shinichiro	Mgmt	For	For	For
3.1	Appoint Statutory Auditor Sato, Masatoshi	Mgmt	For	For	For
3.2	Appoint Statutory Auditor Kato, Yoshitaka	Mgmt	For	For	For
3.3	Appoint Statutory Auditor Manago, Yasushi	Mgmt	For	For	For
4	Approve Annual Bonus	Mgmt	For	For	For

InterXion Holding NV

Meeting Date:06/28/2019	Country:Netherlands	Primary Security ID:N47279109
Record Date:05/31/2019	Meeting Type:Annual	Ticker:INXN
	Shares Voted:35,245

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
	Annual Meeting Agenda	Mgmt
1	Adopt Financial Statements and Statutory Reports	Mgmt	For	For	For
2	Approve Discharge of Board of Directors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2018 to 06/30/2019

Location(s): All Locations

Institution Account(s): Versus Capital Advisors

InterXion Holding NV

Proposal     Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction
3	Reelect Jean Mandeville as Director	Mgmt	For	For	For
4	Reelect David Ruberg as Director	Mgmt	For	For	For
5	Approve Increase in the Annual Cash Compensation of the Chairman	Mgmt	For	For	For
6	Approve Award of Restricted Shares toNon-Executive Director	Mgmt	For	For	For
7	Approve Award of Performance Shares to Executive Director	Mgmt	For	For	For
8	Grant Board Authority to Issue Shares for the Company’s Employee Incentive Schemes	Mgmt	For	For	For
9	Authorize Board to Exclude Preemptive Rights from Share Issuances Under Item 8	Mgmt	For	For	For
10	Grant Board Authority to Issue Shares Up To 10 Percent of Issued Capital for General Corporate Purposes	Mgmt	For	For	For
11	Authorize Board to Exclude Preemptive Rights from Share Issuances Under Item 10	Mgmt	For	For	For
12	Ratify KPMG Accountants N.V. as Auditors	Mgmt	For	For	For
13	Other Business	Mgmt	For	Against	Against

Company Name	Ticker	Primary CUSIP	Meeting Date	Proposal Text	Proponent	Voted	Vote Instruction	Vote Against Management
GGP Inc.	GGP	36174X101	26-Jul-18	Approve Merger Agreement	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Authorize a New Class of Capital Stock	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Amend Charter to Remove the Ability of Stockholders to Prohibit BPR Board from Amending the BPR Bylaws	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Increase Supermajority Vote Requirement for Amendments	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Adopt or Increase Supermajority Vote Requirement for Removal of Directors	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Amend Bylaws to Include a Provision Requiring BPR to Include in its Proxy Statements and Proxy Cards Director Candidates Selected by a BPY Affiliate	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Eliminate Right to Call Special Meeting	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Advisory Vote on Golden Parachutes	Management	Yes	Against	Yes
GGP Inc.	GGP	36174X101	26-Jul-18	Approve Merger Agreement	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Authorize a New Class of Capital Stock	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Amend Charter to Remove the Ability of Stockholders to Prohibit BPR Board from Amending the BPR Bylaws	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Increase Supermajority Vote Requirement for Amendments	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Adopt or Increase Supermajority Vote Requirement for Removal of Directors	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Amend Bylaws to Include a Provision Requiring BPR to Include in its Proxy Statements and Proxy Cards Director Candidates Selected by a BPY Affiliate	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Eliminate Right to Call Special Meeting	Management	Yes	For	No
GGP Inc.	GGP	36174X101	26-Jul-18	Advisory Vote on Golden Parachutes	Management	Yes	Against	Yes
Pebblebrook Hotel Trust	PEB	70509V100	27-Nov-18	Issue Shares in Connection with Acquisition	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	27-Nov-18	Adjourn Meeting	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Ronald L. Havner, Jr.	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Tamara Hughes Gustavson	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Uri P. Harkham	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Leslie S. Heisz	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director B. Wayne Hughes, Jr.	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Avedick B. Poladian	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Gary E. Pruitt	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director John Reyes	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Joseph D. Russell, Jr.	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Ronald P. Spogli	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Daniel C. Staton	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	Against	Yes
Public Storage	PSA	74460D109	24-Apr-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Ronald L. Havner, Jr.	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Tamara Hughes Gustavson	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Uri P. Harkham	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Leslie S. Heisz	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director B. Wayne Hughes, Jr.	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Avedick B. Poladian	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Gary E. Pruitt	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director John Reyes	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Joseph D. Russell, Jr.	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Ronald P. Spogli	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Elect Director Daniel C. Staton	Management	Yes	For	No
Public Storage	PSA	74460D109	24-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	Against	Yes
Public Storage	PSA	74460D109	24-Apr-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director Brian G. Cartwright	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director Christine N. Garvey	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director R. Kent Griffin, Jr.	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director David B. Henry	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director Thomas M. Herzog	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director Lydia H. Kennard	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Elect Director Katherine M. Sandstrom	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
HCP, Inc.	HCP	40414L109	25-Apr-19	Ratify Deloitte & Touche LLP as Auditors	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director David H. Ferdman	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director John W. Gamble, Jr.	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director Michael A. Klayko	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director T. Tod Nielsen	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director Alex Shumate	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director William E. Sullivan	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director Lynn A. Wentworth	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Elect Director Gary J. Wojtaszek	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
CyrusOne, Inc.	CONE	23283R100	29-Apr-19	Ratify Deloitte & Touche LLP as Auditors	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Andrew M. Alexander	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Stanford J. Alexander	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Shelaghmichael C. Brown	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Stephen A. Lasher	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Thomas L. Ryan	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Douglas W. Schnitzer	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director C. Park Shaper	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Elect Director Marc J. Shapiro	Management	Yes	For	No

Weingarten Realty Investors	WRI	948741103	29-Apr-19	Ratify Deloitte & Touche LLP as Auditor	Management	Yes	For	No
Weingarten Realty Investors	WRI	948741103	29-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Terry Considine	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Thomas L. Keltner	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director J. Landis Martin	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Robert A. Miller	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Kathleen M. Nelson	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Ann Sperling	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Michael A. Stein	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Elect Director Nina A.Tran	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Apartment Investment And Management Company	AIV	03748R754	30-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Milton Cooper	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Philip E. Coviello	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Conor C. Flynn	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Frank Lourenso	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Colombe M. Nicholas	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Mary Hogan Preusse	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Valerie Richardson	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Richard B. Saltzman	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Ratify PricewaterhouseCoopers LLP as Auditor	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Milton Cooper	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Philip E. Coviello	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Conor C. Flynn	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Frank Lourenso	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Colombe M. Nicholas	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Mary Hogan Preusse	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Valerie Richardson	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Elect Director Richard B. Saltzman	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Kimco Realty Corporation	KIM	49446R109	30-Apr-19	Ratify PricewaterhouseCoopers LLP as Auditor	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Hamid R. Moghadam	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Cristina G. Bita	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director George L. Fotiades	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Philip L. Hawkins	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Lydia H. Kennard	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director J. Michael Losh	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Irving F. Lyons, III	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director David P. O’Connor	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Olivier Piani	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Jeffrey L. Skelton	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Carl B. Webb	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director William D. Zollars	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Hamid R. Moghadam	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Cristina G. Bita	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director George L. Fotiades	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Philip L. Hawkins	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Lydia H. Kennard	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director J. Michael Losh	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Irving F. Lyons, III	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director David P. O’Connor	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Olivier Piani	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Jeffrey L. Skelton	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director Carl B. Webb	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Elect Director William D. Zollars	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Prologis, Inc.	PLD	74340W103	01-May-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Kenneth J. Bacon	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Thomas J. DeRosa	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Karen B. DeSalvo	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Jeffrey H. Donahue	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Timothy J. Naughton	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Sharon M. Oster	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Sergio D. Rivera	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Johnese M. Spisso	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Kathryn M. Sullivan	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director R. Scott Trumbull	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Elect Director Gary Whitelaw	Management	Yes	For	No
Welltower Inc.	WELL	95040Q104	02-May-19	Ratify Ernst & Young LLP as Auditor	Management	Yes	For	No

Welltower Inc.	WELL	95040Q104	02-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director John V. Arabia	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director W. Blake Baird	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director Andrew Batinovich	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director Z. Jamie Behar	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director Thomas A. Lewis, Jr.	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director Murray J. McCabe	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director Douglas M. Pasquale	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Elect Director Keith P. Russell	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Sunstone Hotel Investors, Inc.	SHO	867892101	03-May-19	Report on Sexual Harassment	Share Holder	Yes	Against	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Glyn F. Aeppel	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Larry C. Glasscock	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Karen N. Horn	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Allan Hubbard	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Reuben S. Leibowitz	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Gary M. Rodkin	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Stefan M. Selig	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Daniel C. Smith	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director J. Albert Smith, Jr.	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Marta R. Stewart	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Approve Omnibus Stock Plan	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Report on Political Contributions	Share Holder	Yes	Against	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Glyn F. Aeppel	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Larry C. Glasscock	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Karen N. Horn	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Allan Hubbard	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Reuben S. Leibowitz	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Gary M. Rodkin	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Stefan M. Selig	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Daniel C. Smith	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director J. Albert Smith, Jr.	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Elect Director Marta R. Stewart	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Approve Omnibus Stock Plan	Management	Yes	For	No
Simon Property Group, Inc.	SPG	828806109	08-May-19	Report on Political Contributions	Share Holder	Yes	Against	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Joel S. Marcus	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Steven R. Hash	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director John L. Atkins, III	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director James P. Cain	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Maria C. Freire	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Richard H. Klein	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director James H. Richardson	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Michael A. Woronoff	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Joel S. Marcus	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Steven R. Hash	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director John L. Atkins, III	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director James P. Cain	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Maria C. Freire	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Richard H. Klein	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director James H. Richardson	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Elect Director Michael A. Woronoff	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Alexandria Real Estate Equities, Inc.	ARE	015271109	09-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director B. Wayne Hughes	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director David P. Singelyn	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director John ‘Jack’ Corrigan	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director Douglas N. Benham	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director Tamara Hughes Gustavson	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director Matthew J. Hart	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director James H. Kropp	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director Winifred ‘Wendy’ Webb	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director Jay Willoughby	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Elect Director Kenneth M. Woolley	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Ratify Ernst & Young, LLP as Auditors	Management	Yes	For	No
American Homes 4 Rent	AMH	02665T306	09-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No

Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Laurence A. Chapman	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Michael A. Coke	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Kevin J. Kennedy	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director William G. LaPerch	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Afshin Mohebbi	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Mark R. Patterson	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Mary Hogan Preusse	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director Dennis E. Singleton	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Elect Director A. William Stein	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
Digital Realty Trust, Inc.	DLR	253868103	13-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Hyatt Hotels Corporation	H	448579102	15-May-19	Elect Director Paul D. Ballew	Management	Yes	For	No
Hyatt Hotels Corporation	H	448579102	15-May-19	Elect Director Mark. S. Hoplamazian	Management	Yes	For	No
Hyatt Hotels Corporation	H	448579102	15-May-19	Elect Director Cary D. McMillan	Management	Yes	For	No
Hyatt Hotels Corporation	H	448579102	15-May-19	Elect Director Michael A. Rocca	Management	Yes	For	No
Hyatt Hotels Corporation	H	448579102	15-May-19	Ratify Deloitte & Touche LLP as Auditor	Management	Yes	For	No
Hyatt Hotels Corporation	H	448579102	15-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Glyn F. Aeppel	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Terry S. Brown	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Alan B. Buckelew	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Ronald L. Havner, Jr.	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Stephen P. Hills	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Richard J. Lieb	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Timothy J. Naughton	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director H. Jay Sarles	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Susan Swanezy	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director W. Edward Walter	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Ratify Ernst & Young LLP as Auditor	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Glyn F. Aeppel	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Terry S. Brown	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Alan B. Buckelew	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Ronald L. Havner, Jr.	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Stephen P. Hills	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Richard J. Lieb	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Timothy J. Naughton	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director H. Jay Sarles	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director Susan Swanezy	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Elect Director W. Edward Walter	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Ratify Ernst & Young LLP as Auditor	Management	Yes	For	No
AvalonBay Communities, Inc.	AVB	053484101	16-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director Robert G. Stuckey	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director Paul E. Szurek	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director James A. Attwood, Jr.	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director Jean A. Bua	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director Kelly C. Chambliss	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director Michael R. Koehler	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director J. David Thompson	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Elect Director David A. Wilson	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Ratify KPMG LLP as Auditor	Management	Yes	For	No
CoreSite Realty Corporation	COR	21870Q105	16-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Mary L. Baglivo	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Sheila C. Bair	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Ann McLaughlin Korologos	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Richard E. Marriott	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Sandeep L. Mathrani	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director John B. Morse, Jr.	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Mary Hogan Preusse	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Walter C. Rakowich	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director James F. Risoleo	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Gordon H. Smith	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director A. William Stein	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Ratify KPMG LLP as Auditor	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Mary L. Baglivo	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Sheila C. Bair	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Ann McLaughlin Korologos	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Richard E. Marriott	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Sandeep L. Mathrani	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director John B. Morse, Jr.	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Mary Hogan Preusse	Management	Yes	For	No
Host Hotels & Resorts, Inc.	HST	44107P104	16-May-19	Elect Director Walter C. Rakowich	Management	Yes	For	No

Host Hotels & Resorts, Inc.		HST	44107P104	16-May-19	Elect Director James F. Risoleo	Management	Yes	For	No
Host Hotels & Resorts, Inc.		HST	44107P104	16-May-19	Elect Director Gordon H. Smith	Management	Yes	For	No
Host Hotels & Resorts, Inc.		HST	44107P104	16-May-19	Elect Director A. William Stein	Management	Yes	For	No
Host Hotels & Resorts, Inc.		HST	44107P104	16-May-19	Ratify KPMG LLP as Auditor	Management	Yes	For	No
Host Hotels & Resorts, Inc.		HST	44107P104	16-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Elect Director John B. Kilroy, Jr.	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Elect Director Edward Brennan	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Elect Director Jolie Hunt	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Elect Director Scott Ingraham	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Elect Director Gary Stevenson	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Elect Director Peter Stoneberg	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Kilroy Realty Corporation		KRC	49427F108	16-May-19	Ratify Deloitte & Touche LLP as Auditors	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Kelly A. Ayotte	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Bruce W. Duncan	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Karen E. Dykstra	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Carol B. Einiger	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Diane J. Hoskins	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Joel I. Klein	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Douglas T. Linde	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Matthew J. Lustig	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director Owen D. Thomas	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director David A. Twardock	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Elect Director William H. Walton, III	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Approve Remuneration ofNon-Employee Directors	Management	Yes	For	No
Boston Properties, Inc.		BXP	101121101	21-May-19	Ratify PricewaterhouseCoopers LLP as Auditors	Management	Yes	For	No
Senior Housing Properties Trust		SNH	81721M109	21-May-19	Elect Director John L. Harrington	Management	Yes	Withhold	No
Senior Housing Properties Trust		SNH	81721M109	21-May-19	Elect Director Adam D. Portnoy	Management	Yes	Withhold	No
Senior Housing Properties Trust		SNH	81721M109	21-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Senior Housing Properties Trust		SNH	81721M109	21-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Victor J. Coleman	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Theodore R. Antenucci	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Richard B. Fried	Management	Yes	For	No
Hudson Pacific Properties, Inc.	��	HPP	444097109	23-May-19	Elect Director Jonathan M. Glaser	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Robert L. Harris, II	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Christy Haubegger	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Mark D. Linehan	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Robert M. Moran, Jr.	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Barry A. Porter	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Elect Director Andrea Wong	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Hudson Pacific Properties, Inc.		HPP	444097109	23-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Thomas C. DeLoach, Jr.	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Katherine E. Dietze	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Antonio F. Fernandez	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Daniel P. Garton	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Robert G. Gifford	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director William P. Hankowsky	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director David L. Lingerfelt	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Marguerite M. Nader	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Lawrence D. Raiman	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Elect Director Fredric J. Tomczyk	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Liberty Property Trust		LPT	531172104	29-May-19	Ratify Ernst & Young LLP as Auditor	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Dan A. Emmett	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Jordan L. Kaplan	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Kenneth M. Panzer	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Christopher H. Anderson	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Leslie E. Bider	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director David T. Feinberg	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Virginia A. McFerran	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Thomas E. O’Hern	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director William E. Simon, Jr.	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Dan A. Emmett	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Jordan L. Kaplan	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Kenneth M. Panzer	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Christopher H. Anderson	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director Leslie E. Bider	Management	Yes	For	No
Douglas Emmett, Inc.		DEI	25960P109	30-May-19	Elect Director David T. Feinberg	Management	Yes	For	No

Douglas Emmett, Inc.	DEI	25960P109	30-May-19	Elect Director Virginia A. McFerran	Management	Yes	For	No
Douglas Emmett, Inc.	DEI	25960P109	30-May-19	Elect Director Thomas E. O’Hern	Management	Yes	For	No
Douglas Emmett, Inc.	DEI	25960P109	30-May-19	Elect Director William E. Simon, Jr.	Management	Yes	For	No
Douglas Emmett, Inc.	DEI	25960P109	30-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Douglas Emmett, Inc.	DEI	25960P109	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Thomas Bartlett	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Nanci Caldwell	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Gary Hromadko	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Scott Kriens	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director William Luby	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Irving Lyons, III	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Charles Meyers	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Christopher Paisley	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Elect Director Peter Van Camp	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Approve Omnibus Stock Plan	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Ratify PricewaterhouseCoopers LLP as Auditor	Management	Yes	For	No
Equinix, Inc.	EQIX	29444U700	30-May-19	Report on Political Contributions	Share Holder	Yes	Against	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Bryce Blair	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Dallas B. Tanner	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Jana Cohen Barbe	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Richard D. Bronson	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Kenneth A. Caplan	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Michael D. Fascitelli	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Robert G. Harper	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Jeffrey E. Kelter	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director John B. Rhea	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Janice L. Sears	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director William J. Stein	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Elect Director Barry S. Sternlicht	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Ratify Deloitte & Touche LLP as Auditors	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Invitation Homes, Inc.	INVH	46187W107	30-May-19	Advisory Vote on Say on Pay Frequency	Management	Yes	One Year	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Mark G. Barberio	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Joseph V. Saffire	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Charles E. Lannon	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Stephen R. Rusmisel	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Arthur L. Havener, Jr.	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Carol Hansell	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Dana Hamilton	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director Edward J. Pettinella	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Elect Director David L. Rogers	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Adopt the Jurisdiction of Incorporation as the Exclusive Forum for Certain Disputes	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	AmendNon-Employee Director Restricted Stock Plan	Management	Yes	For	No
Life Storage, Inc.	LSI	53223X107	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Mayree C. Clark	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Michael J. Embler	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Janice L. Fields	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Michelle J. Goldberg	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Nancy Killefer	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Ronald W. Tysoe	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Mayree C. Clark	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Michael J. Embler	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Janice L. Fields	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Michelle J. Goldberg	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Nancy Killefer	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Elect Director Ronald W. Tysoe	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
Taubman Centers, Inc.	TCO	876664103	30-May-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Peggy Alford	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director John H. Alschuler	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Eric K. Brandt	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Edward C. Coppola	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Steven R. Hash	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Daniel J. Hirsch	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Diana M. Laing	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Thomas E. O’Hern	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Steven L. Soboroff	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Andrea M. Stephen	Management	Yes	For	No

The Macerich Company	MAC	554382101	07-Jun-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Peggy Alford	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director John H. Alschuler	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Eric K. Brandt	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Edward C. Coppola	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Steven R. Hash	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Daniel J. Hirsch	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Diana M. Laing	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Thomas E. O’Hern	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Steven L. Soboroff	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Elect Director Andrea M. Stephen	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
The Macerich Company	MAC	554382101	07-Jun-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Jon E. Bortz	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Cydney C. Donnell	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Ron E. Jackson	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Phillip M. Miller	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Michael J. Schall	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Bonny W. Simi	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Elect Director Earl E. Webb	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Ratify KPMG LLP as Auditors	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Pebblebrook Hotel Trust	PEB	70509V100	13-Jun-19	Report on Sexual Harassment	Share Holder	Yes	Against	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Charles L. Atwood	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Raymond Bennett	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Linda Walker Bynoe	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Connie K. Duckworth	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Mary Kay Haben	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Bradley A. Keywell	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director John E. Neal	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director David J. Neithercut	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Mark J. Parrell	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Mark S. Shapiro	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Stephen E. Sterrett	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Samuel Zell	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Approve Omnibus Stock Plan	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Charles L. Atwood	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Raymond Bennett	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Linda Walker Bynoe	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Connie K. Duckworth	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Mary Kay Haben	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Bradley A. Keywell	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director John E. Neal	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director David J. Neithercut	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Mark J. Parrell	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Mark S. Shapiro	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Stephen E. Sterrett	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Elect Director Samuel Zell	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Ratify Ernst & Young LLP as Auditors	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Advisory Vote to Ratify Named Executive Officers’ Compensation	Management	Yes	For	No
Equity Residential	EQR	29476L107	27-Jun-19	Approve Omnibus Stock Plan	Management	Yes	For	No

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  Versus Capital Multi-Manager Real Estate Income Fund  LLC                                                                

By (Signature and Title)*  /s/ Mark D. Quam
	Mark D. Quam, Chief Executive Officer
	(principal executive officer)

Date  August 8, 2019                                                                                                                                                     

*Print the name and title of each signing officer under his or her signature.