Vanguard Health Care Fund NPX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD

REGISTERED MANAGEMENT INVESTMENT COMPANIES

INVESTMENT COMPANY ACT FILE NUMBER: 811-3916

NAME OF REGISTRANT: VANGUARD SPECIALIZED FUNDS

ADDRESS OF REGISTRANT: PO BOX 2600, VALLEY FORGE, PA 19482

NAME AND ADDRESS OF AGENT FOR SERVICE: HEIDI STAM

PO BOX 876

VALLEY FORGE, PA 19482

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (610) 669-1000

DATE OF FISCAL YEAR END: JANUARY 31

DATE OF REPORTING PERIOD: JULY 1, 2013 - JUNE 30, 2014

FUND: VANGUARD REIT INDEX FUND

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ISSUER: Acadia Realty Trust

TICKER: AKR CUSIP: 004239109

MEETING DATE: 5/14/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR KENNETH F. BERNSTEIN ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR DOUGLAS CROCKER II ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR LORRENCE T. KELLAR ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR WENDY LUSCOMBE ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR WILLIAM T. SPITZ ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR LEE S. WIELANSKY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: AGREE REALTY CORPORATION

TICKER: ADC CUSIP: 008492100

MEETING DATE: 5/5/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR FARRIS G. KALIL ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR GENE SILVERMAN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

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ISSUER: Alexander's, Inc.

TICKER: ALX CUSIP: 014752109

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR NEIL UNDERBERG ISSUER YES WITHHOLD AGAINST

PROPOSAL #1.2: ELECT DIRECTOR RUSSELL B. WIGHT, JR. ISSUER YES WITHHOLD AGAINST

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Alexandria Real Estate Equities, Inc.

TICKER: ARE CUSIP: 015271109

MEETING DATE: 5/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOEL S. MARCUS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RICHARD B. JENNINGS ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JOHN L. ATKINS, III ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MARIA C. FREIRE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR STEVEN R. HASH ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR RICHARD H. KLEIN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JAMES H. RICHARDSON ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: American Assets Trust, Inc.

TICKER: AAT CUSIP: 024013104

MEETING DATE: 6/17/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ERNEST S. RADY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JOHN W. CHAMBERLAIN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR LARRY E. FINGER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DUANE A. NELLES ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR THOMAS S. OLINGER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ROBERT S. SULLIVAN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: American Campus Communities, Inc.

TICKER: ACC CUSIP: 024835100

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR WILLIAM C. BAYLESS JR. ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR R.D. BURCK ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR G. STEVEN DAWSON ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR CYDNEY C. DONNELL ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR DENNIS G. LOPEZ ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR EDWARD LOWENTHAL ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR OLIVER LUCK ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR C. PATRICK OLES, JR. ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR WINSTON W. WALKER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: American Homes 4 Rent

TICKER: AMH CUSIP: 02665T306

MEETING DATE: 5/8/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR B. WAYNE HUGHES ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID P. SINGELYN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JOHN 'JACK' CORRIGAN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DANN V. ANGELOFF ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MATTHEW J. HART ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JAMES H. KROPP ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR LYNN SWANN ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR KENNETH M. WOOLLEY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: American Realty Capital Properties, Inc.

TICKER: ARCP CUSIP: 02917T104

MEETING DATE: 1/23/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: ISSUE SHARES IN CONNECTION WITH ISSUER YES FOR FOR

ACQUISITION

PROPOSAL #2: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: American Realty Capital Properties, Inc.

TICKER: ARCP CUSIP: 02917T104

MEETING DATE: 5/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR NICHOLAS S. SCHORSCH ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR EDWARD M. WEIL, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR WILLIAM M. KAHANE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR LESLIE D. MICHELSON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR EDWARD G. RENDELL ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR SCOTT J. BOWMAN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR WILLIAM G. STANLEY ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR THOMAS A. ANDRUSKEVICH ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR SCOTT P. SEALY, SR. ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES AGAINST AGAINST

OFFICERS' COMPENSATION

PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR

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ISSUER: American Residential Properties, Inc.

TICKER: ARPI CUSIP: 02927E303

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR STEPHEN G. SCHMITZ ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR LAURIE A. HAWKES ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR DOUGLAS N. BENHAM ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DAVID M. BRAIN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR KEITH R. GUERICKE ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR TODD W. MANSFIELD ISSUER YES FOR FOR

PROPOSAL #2: APPROVE CONVERSION OF SECURITIES ISSUER YES FOR FOR

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: AmREIT, Inc.

TICKER: AMRE CUSIP: 03216B208

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT S. CARTWRIGHT, ISSUER YES FOR FOR

JR.

PROPOSAL #1.2: ELECT DIRECTOR BRENT M. LONGNECKER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR SCOT J. LUTHER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MACK D. PRIDGEN, III ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR H. L. 'HANK' RUSH, JR. ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR PHILIP TAGGART ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR H. KERR TAYLOR ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: APARTMENT INVESTMENT AND MANAGEMENT COMPANY

TICKER: AIV CUSIP: 03748R101

MEETING DATE: 4/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JAMES N. BAILEY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR TERRY CONSIDINE ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS L. KELTNER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR J. LANDIS MARTIN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR ROBERT A. MILLER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR KATHLEEN M. NELSON ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR MICHAEL A. STEIN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Ashford Hospitality Prime Inc.

TICKER: AHP CUSIP: 044102101

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MONTY J. BENNETT ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR STEFANI D. CARTER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR DOUGLAS A. KESSLER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR CURTIS B. MCWILLIAMS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR W. MICHAEL MURPHY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MATTHEW D. RINALDI ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR ANDREW L. STRONG ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: AMEND ARTICLES TO REMOVE ANTITAKEOVER SHAREHOLDER YES AGAINST FOR

PROVISIONS

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ISSUER: Ashford Hospitality Trust, Inc.

TICKER: AHT CUSIP: 044103109

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MONTY J. BENNETT ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BENJAMIN J. ANSELL ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS E. CALLAHAN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR AMISH GUPTA ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR KAMAL JAFARNIA ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ALAN L. TALLIS ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR PHILIP S. PAYNE ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN �� ISSUER YES FOR FOR

PROPOSAL #5: REQUIRE A MAJORITY VOTE FOR THE ELECTION SHAREHOLDER YES AGAINST FOR

OF DIRECTORS

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ISSUER: Associated Estates Realty Corporation

TICKER: AEC CUSIP: 045604105

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ALBERT T. ADAMS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JEFFREY I. FRIEDMAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MICHAEL E. GIBBONS ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MARK L. MILSTEIN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR JAMES J. SANFILIPPO ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JAMES A. SCHOFF ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR RICHARD T. SCHWARZ ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: AvalonBay Communities, Inc.

TICKER: AVB CUSIP: 053484101

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR GLYN F. AEPPEL ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ALAN B. BUCKELEW ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR BRUCE A. CHOATE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JOHN J. HEALY, JR. ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR TIMOTHY J. NAUGHTON ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR LANCE R. PRIMIS ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR PETER S. RUMMELL ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR H. JAY SARLES ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR W. EDWARD WALTER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #5: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR

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ISSUER: Aviv REIT, Inc.

TICKER: AVIV CUSIP: 05381L101

MEETING DATE: 5/27/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CRAIG M. BERNFIELD ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR NORMAN R. BOBINS ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MICHAEL W. DEES ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ALAN E. GOLDBERG ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR SUSAN R. LICHTENSTEIN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MARK B. MCCLELLAN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR SHARON O'KEEFE ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR MARK J. PARRELL ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR BEN W. PERKS ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR JAMES H. ROTH ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR J. RUSSELL TRIEDMAN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR

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ISSUER: BioMed Realty Trust, Inc.

TICKER: BMR CUSIP: 09063H107

MEETING DATE: 5/28/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ALAN D. GOLD ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DANIEL M. BRADBURY ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR WILLIAM R. BRODY ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR GARY A. KREITZER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR THEODORE D. ROTH ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JANICE L. SEARS ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR M. FAYE WILSON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Boston Properties, Inc.

TICKER: BXP CUSIP: 101121101

MEETING DATE: 5/20/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CAROL B. EINIGER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JACOB A. FRENKEL ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JOEL I. KLEIN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DOUGLAS T. LINDE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MATTHEW J. LUSTIG ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ALAN J. PATRICOF ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR IVAN G. SEIDENBERG ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR OWEN D. THOMAS ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR MARTIN TURCHIN ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR DAVID A. TWARDOCK ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR MORTIMER B. ZUCKERMAN ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #4: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR

PROPOSAL #5: ADOPT PROXY ACCESS RIGHT SHAREHOLDER YES AGAINST FOR

PROPOSAL #6: PRO-RATA VESTING OF EQUITY AWARDS SHAREHOLDER YES AGAINST FOR

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ISSUER: Brandywine Realty Trust

TICKER: BDN CUSIP: 105368203

MEETING DATE: 5/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR WALTER D'ALESSIO ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ANTHONY A. NICHOLS, SR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR GERARD H. SWEENEY ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR WYCHE FOWLER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MICHAEL J. JOYCE ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR CHARLES P. PIZZI ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JAMES C. DIGGS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: BRE Properties, Inc.

TICKER: BRE CUSIP: 05564E106

MEETING DATE: 3/28/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE MERGER AGREEMENT ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE ON GOLDEN PARACHUTES ISSUER YES AGAINST AGAINST

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: Camden Property Trust

TICKER: CPT CUSIP: 133131102

MEETING DATE: 5/9/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR RICHARD J. CAMPO ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR SCOTT S. INGRAHAM ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR LEWIS A. LEVEY ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR WILLIAM B. MCGUIRE, JR. ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR WILLIAM F. PAULSEN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR D. KEITH ODEN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR F. GARDNER PARKER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR FRANCES ALDRICH ISSUER YES FOR FOR

SEVILLA-SACASA

PROPOSAL #1.9: ELECT DIRECTOR STEVEN A. WEBSTER ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR KELVIN R. WESTBROOK ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Campus Crest Communities, Inc.

TICKER: CCG CUSIP: 13466Y105

MEETING DATE: 4/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR TED W. ROLLINS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR LAURO GONZALEZ-MORENO ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR RICHARD S. KAHLBAUGH ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JAMES W. MCCAUGHAN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DENIS MCGLYNN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DANIEL L. SIMMONS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

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ISSUER: CapLease, Inc.

TICKER: LSE CUSIP: 140288101

MEETING DATE: 9/10/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE MERGER AGREEMENT ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE ON GOLDEN PARACHUTES ISSUER YES FOR FOR

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: CBL & Associates Properties, Inc.

TICKER: CBL CUSIP: 124830100

MEETING DATE: 5/5/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CHARLES B. LEBOVITZ ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR STEPHEN D. LEBOVITZ ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR GARY L. BRYENTON ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR A. LARRY CHAPMAN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR THOMAS J. DEROSA ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MATTHEW S. DOMINSKI ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR GARY J. NAY ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR KATHLEEN M. NELSON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Cedar Realty Trust, Inc.

TICKER: CDR CUSIP: 150602209

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JAMES J. BURNS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR PAMELA N. HOOTKIN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR PAUL G. KIRK, JR. ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR EVERETT B. MILLER, III ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR BRUCE J. SCHANZER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ROGER M. WIDMANN ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Chesapeake Lodging Trust

TICKER: CHSP CUSIP: 165240102

MEETING DATE: 5/16/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JAMES L. FRANCIS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DOUGLAS W. VICARI ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS A. NATELLI ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR THOMAS D. ECKERT ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR JOHN W. HILL ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GEORGE F. MCKENZIE ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JEFFREY D. NUECHTERLEIN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Cole Real Estate Investments Inc.

TICKER: COLE CUSIP: 19329V105

MEETING DATE: 1/23/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE MERGER AGREEMENT ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE ON GOLDEN PARACHUTES ISSUER YES AGAINST AGAINST

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: Colonial Properties Trust

TICKER: CLP CUSIP: 195872106

MEETING DATE: 9/27/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE MERGER AGREEMENT ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE ON GOLDEN PARACHUTES ISSUER YES FOR FOR

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: CommonWealth REIT

TICKER: CWH CUSIP: 203233101

MEETING DATE: 3/19/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR WILLIAM A. LAMKIN

PROPOSAL #1.2: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR JOSEPH L. MOREA

PROPOSAL #1.3: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR ADAM D. PORTNOY

PROPOSAL #1.4: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR BARRY M. PORTNOY

PROPOSAL #1.5: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR FREDERICK N ZEYTOONJIAN

PROPOSAL #1.6: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR RONALD J. ARTINIAN

PROPOSAL #1.7: REVOKE CONSENT TO REMOVE EXISTING ISSUER NO N/A N/A

DIRECTOR ANN LOGAN

PROPOSAL #1.8: REVOKE CONSENT TO REMOVE ANY OTHER ISSUER NO N/A N/A

PERSON

PROPOSAL #1.1: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

BARRY M. PORTNOY

PROPOSAL #1.2: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

ADAM D. PORTNOY

PROPOSAL #1.3: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

JOSEPH L. MOREA

PROPOSAL #1.4: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

WILLIAM A. LAMKIN

PROPOSAL #1.5: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

FREDERICK N ZEYTOONJIAN

PROPOSAL #1.6: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

RONALD J. ARTINIAN

PROPOSAL #1.7: CONSENT TO REMOVE EXISTING DIRECTOR SHAREHOLDER YES FOR AGAINST

ANN LOGAN

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ISSUER: CommonWealth REIT

TICKER: CWH CUSIP: 203233101

MEETING DATE: 5/23/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: ELECT DIRECTOR DAVID HELFAND SHAREHOLDER YES FOR FOR

PROPOSAL #2: ELECT DIRECTOR SAMUEL ZELL SHAREHOLDER YES FOR FOR

PROPOSAL #3: ELECT DIRECTOR JAMES CORL SHAREHOLDER YES FOR FOR

PROPOSAL #4: ELECT DIRECTOR EDWARD GLICKMAN SHAREHOLDER YES FOR FOR

PROPOSAL #5: ELECT DIRECTOR PETER LINNEMAN SHAREHOLDER YES FOR FOR

PROPOSAL #6: ELECT DIRECTOR JIM LOZIER SHAREHOLDER YES FOR FOR

PROPOSAL #7: ELECT DIRECTOR KENNETH SHEA SHAREHOLDER YES FOR FOR

PROPOSAL #8: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: CoreSite Realty Corporation

TICKER: COR CUSIP: 21870Q105

MEETING DATE: 5/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT G. STUCKEY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR THOMAS M. RAY ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JAMES A. ATTWOOD, JR. ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MICHAEL KOEHLER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR PAUL E. SZUREK ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR J. DAVID THOMPSON ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DAVID A. WILSON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Corporate Office Properties Trust

TICKER: OFC CUSIP: 22002T108

MEETING DATE: 5/8/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR THOMAS F. BRADY ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR ROBERT L. DENTON ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR PHILIP L. HAWKINS ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR ELIZABETH A. HIGHT ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR DAVID M. JACOBSTEIN ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR STEVEN D. KESLER ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR C. TAYLOR PICKETT ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR RICHARD SZAFRANSKI ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR ROGER A. WAESCHE, JR. ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Corrections Corporation of America

TICKER: CXW CUSIP: 22025Y407

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR JOHN D. FERGUSON ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR DAMON T. HININGER ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR DONNA M. ALVARADO ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR JOHN D. CORRENTI ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR ROBERT J. DENNIS ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR C. MICHAEL JACOBI ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR ANNE L. MARIUCCI ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR THURGOOD MARSHALL, JR. ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR CHARLES L. OVERBY ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR JOHN R. PRANN, JR. ISSUER YES FOR FOR

PROPOSAL #1k: ELECT DIRECTOR JOSEPH V. RUSSELL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Cousins Properties Incorporated

TICKER: CUZ CUSIP: 222795106

MEETING DATE: 5/6/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR TOM G. CHARLESWORTH ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JAMES D. EDWARDS ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR LAWRENCE L. ISSUER YES FOR FOR

GELLERSTEDT, III

PROPOSAL #1.4: ELECT DIRECTOR LILLIAN C. GIORNELLI ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR S. TAYLOR GLOVER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JAMES H. HANCE ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DONNA W. HYLAND ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR R. DARY STONE ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: CubeSmart

TICKER: CUBE CUSIP: 229663109

MEETING DATE: 5/28/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR WILLIAM M. ISSUER YES FOR FOR

DIEFENDERFER, III

PROPOSAL #1.2: ELECT DIRECTOR PIERO BUSSANI ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR CHRISTOPHER P. MARR ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MARIANNE M. KELER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DEBORAH R. SALZBERG ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOHN F. REMONDI ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JEFFREY F. ROGATZ ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR JOHN W. FAIN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: CyrusOne Inc.

TICKER: CONE CUSIP: 23283R100

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR GARY J. WOJTASZEK ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JOHN F. CASSIDY ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR WILLIAM E. SULLIVAN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR T. TOD NIELSEN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR ALEX SHUMATE ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MELISSA E. HATHAWAY ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DAVID H. FERDMAN ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR LYNN A. WENTWORTH ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR JOHN W. GAMBLE, JR. ISSUER YES FOR FOR

PROPOSAL #2: APPROVE QUALIFIED EMPLOYEE STOCK ISSUER YES FOR FOR

PURCHASE PLAN

PROPOSAL #3: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: AMEND EXECUTIVE INCENTIVE BONUS PLAN ISSUER YES FOR FOR

PROPOSAL #5: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: DCT Industrial Trust Inc.

TICKER: DCT CUSIP: 233153105

MEETING DATE: 4/30/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR THOMAS G. WATTLES ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR PHILIP L. HAWKINS ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR MARILYN A. ALEXANDER ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR THOMAS F. AUGUST ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR JOHN S. GATES, JR. ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR RAYMOND B. GREER ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR TRIPP H. HARDIN ISSUER YES FOR �� FOR

PROPOSAL #1h: ELECT DIRECTOR JOHN C. O'KEEFFE ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR BRUCE L. WARWICK ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: DDR Corp.

TICKER: DDR CUSIP: 23317H102

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR TERRANCE R. AHERN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JAMES C. BOLAND ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS FINNE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ROBERT H. GIDEL ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DANIEL B. HURWITZ ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR VOLKER KRAFT ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR REBECCA L. MACCARDINI ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR VICTOR B. MACFARLANE ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR CRAIG MACNAB ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR SCOTT D. ROULSTON ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR BARRY A. SHOLEM ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: DiamondRock Hospitality Company

TICKER: DRH CUSIP: 252784301

MEETING DATE: 5/6/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR WILLIAM W. MCCARTEN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DANIEL J. ALTOBELLO ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR W. ROBERT GRAFTON ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MAUREEN L. MCAVEY ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR GILBERT T. RAY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR BRUCE D. WARDINSKI ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR MARK W. BRUGGER ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Digital Realty Trust, Inc.

TICKER: DLR CUSIP: 253868103

MEETING DATE: 4/28/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1A: ELECT DIRECTOR DENNIS E. SINGLETON ISSUER YES FOR FOR

PROPOSAL #1B: ELECT DIRECTOR LAURENCE A. CHAPMAN ISSUER YES FOR FOR

PROPOSAL #1C: ELECT DIRECTOR KATHLEEN EARLEY ISSUER YES FOR FOR

PROPOSAL #1D: ELECT DIRECTOR RUANN F. ERNST ISSUER YES FOR FOR

PROPOSAL #1E: ELECT DIRECTOR KEVIN J. KENNEDY ISSUER YES FOR FOR

PROPOSAL #1F: ELECT DIRECTOR WILLIAM G. LAPERCH ISSUER YES FOR FOR

PROPOSAL #1G: ELECT DIRECTOR ROBERT H. ZERBST ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Douglas Emmett, Inc.

TICKER: DEI CUSIP: 25960P109

MEETING DATE: 5/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DAN A. EMMETT ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JORDAN L. KAPLAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR KENNETH M. PANZER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR CHRISTOPHER H. ANDERSON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR LESLIE E. BIDER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DAVID T. FEINBERG ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR THOMAS E. O'HERN ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR WILLIAM E. SIMON, JR. ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Duke Realty Corporation

TICKER: DRE CUSIP: 264411505

MEETING DATE: 4/30/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR THOMAS J. BALTIMORE, JR. ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR WILLIAM CAVANAUGH, III ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR ALAN H. COHEN ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR NGAIRE E. CUNEO ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR CHARLES R. EITEL ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR MARTIN C. JISCHKE ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR DENNIS D. OKLAK ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR MELANIE R. SABELHAUS ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR PETER M. SCOTT, III ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR JACK R. SHAW ISSUER YES FOR FOR

PROPOSAL #1k: ELECT DIRECTOR MICHAEL E. SZYMANCZYK ISSUER YES FOR FOR

PROPOSAL #1l: ELECT DIRECTOR LYNN C. THURBER ISSUER YES FOR FOR

PROPOSAL #1m: ELECT DIRECTOR ROBERT J. WOODWARD JR. ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #4a: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #4b: APPROVE SECURITIES TRANSFER ISSUER YES FOR FOR

RESTRICTIONS

PROPOSAL #4c: AMEND ARTICLES OF INCORPORATION TO MAKE ISSUER YES FOR FOR

MINISTERIAL CHANGES

PROPOSAL #5: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: DuPont Fabros Technology, Inc.

TICKER: DFT CUSIP: 26613Q106

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL A. COKE ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR LAMMOT J. DU PONT ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS D. ECKERT ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR HOSSEIN FATEH ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR JONATHAN G. HEILIGER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR FREDERIC V. MALEK ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JOHN T. ROBERTS, JR. ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR JOHN H. TOOLE ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: EastGroup Properties, Inc.

TICKER: EGP CUSIP: 277276101

MEETING DATE: 5/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR D. PIKE ALOIAN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR H.C. BAILEY, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR H. ERIC BOLTON, JR. ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR HAYDEN C. EAVES, III ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR FREDRIC H. GOULD ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DAVID H. HOSTER, II ISSUER YES FOR FOR��

PROPOSAL #1.7: ELECT DIRECTOR MARY E. MCCORMICK ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR DAVID M. OSNOS ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR LELAND R. SPEED ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Education Realty Trust, Inc.

TICKER: EDR CUSIP: 28140H104

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOHN V. ARABIA ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR PAUL O. BOWER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MONTE J. BARROW ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR WILLIAM J. CAHILL , III ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RANDALL L. CHURCHEY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOHN L. FORD ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR HOWARD A. SILVER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR WENDELL W. WEAKLEY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: EPR Properties

TICKER: EPR CUSIP: 26884U109

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DAVID M. BRAIN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ROBERT J. DRUTEN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR ROBIN P. STERNECK ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Equity LifeStyle Properties, Inc.

TICKER: ELS CUSIP: 29472R108

MEETING DATE: 11/25/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

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ISSUER: Equity LifeStyle Properties, Inc.

TICKER: ELS CUSIP: 29472R108

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR PHILIP CALIAN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID CONTIS ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS DOBROWSKI ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR THOMAS HENEGHAN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MARGUERITE NADER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR SHELI ROSENBERG ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR HOWARD WALKER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR GARY WATERMAN ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR WILLIAM YOUNG ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR SAMUEL ZELL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: APPROVE STOCK AWARD PLAN GRANTS ISSUER YES FOR FOR

PROPOSAL #5: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #6: REPORT ON POLITICAL CONTRIBUTIONS AND SHAREHOLDER YES AGAINST FOR

LOBBYING COMMUNICATIONS

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ISSUER: Equity One, Inc.

TICKER: EQY CUSIP: 294752100

MEETING DATE: 5/9/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CYNTHIA R. COHEN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR NEIL FLANZRAICH ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JORDAN HELLER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR CHAIM KATZMAN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR PETER LINNEMAN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GALIA MAOR ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JEFFREY S. OLSON ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR DORI SEGAL ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR DAVID FISCHEL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND QUALIFIED EMPLOYEE STOCK PURCHASE ISSUER YES FOR FOR

PLAN

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ISSUER: Equity Residential

TICKER: EQR CUSIP: 29476L107

MEETING DATE: 6/12/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOHN W. ALEXANDER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR CHARLES L. ATWOOD ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR LINDA WALKER BYNOE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MARY KAY HABEN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR BRADLEY A. KEYWELL ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOHN E. NEAL ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DAVID J. NEITHERCUT ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR MARK S. SHAPIRO ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR GERALD A. SPECTOR ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR B. JOSEPH WHITE ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR SAMUEL ZELL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Essex Property Trust, Inc.

TICKER: ESS CUSIP: 297178105

MEETING DATE: 3/28/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: ISSUE SHARES IN CONNECTION WITH ISSUER YES FOR FOR

ACQUISITION

PROPOSAL #2: ADJOURN MEETING ISSUER YES FOR FOR

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ISSUER: Essex Property Trust, Inc.

TICKER: ESS CUSIP: 297178105

MEETING DATE: 6/10/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DAVID W. BRADY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR KEITH R. GUERICKE ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR IRVING F. LYONS, III ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR GEORGE M. MARCUS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR GARY P. MARTIN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ISSIE N. RABINOVITCH ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR THOMAS E. RANDLETT ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR THOMAS E. ROBINSON ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR MICHAEL J. SCHALL ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR BYRON A. SCORDELIS ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR JANICE L. SEARS ISSUER YES FOR FOR

PROPOSAL #1.12: ELECT DIRECTOR THOMAS P. SULLIVAN ISSUER YES FOR FOR

PROPOSAL #1.13: ELECT DIRECTOR CLAUDE J. ZINNGRABE, ISSUER YES FOR FOR

JR.

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Excel Trust, Inc.

TICKER: EXL CUSIP: 30068C109

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR GARY B. SABIN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR SPENCER G. PLUMB ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MARK T. BURTON ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR BRUCE G. BLAKLEY ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR BURLAND B. EAST, III ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ROBERT E. PARSONS, JR. ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR WARREN R. STALEY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

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ISSUER: Extra Space Storage Inc.

TICKER: EXR CUSIP: 30225T102

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KENNETH M. WOOLLEY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR SPENCER F. KIRK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR KARL HAAS ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JOSEPH D. MARGOLIS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DIANE OLMSTEAD ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ROGER B. PORTER ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR K. FRED SKOUSEN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Federal Realty Investment Trust

TICKER: FRT CUSIP: 313747206

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JON E. BORTZ ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID W. FAEDER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR KRISTIN GAMBLE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR GAIL P. STEINEL ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR WARREN M. THOMPSON ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOSEPH S. VASSALLUZZO ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DONALD C. WOOD ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: FelCor Lodging Trust Incorporated

TICKER: FCH CUSIP: 31430F101

MEETING DATE: 5/19/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR THOMAS J. CORCORAN, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ROBERT F. COTTER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR THOMAS C. HENDRICK ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MARK D. ROZELLS ISSUER YES FOR FOR

PROPOSAL #2: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #5: DECLASSIFY THE BOARD OF DIRECTORS SHAREHOLDER YES FOR AGAINST

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ISSUER: First Industrial Realty Trust, Inc.

TICKER: FR CUSIP: 32054K103

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MATTHEW S. DOMINSKI ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BRUCE W. DUNCAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR H. PATRICK HACKETT, JR. ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JOHN RAU ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR L. PETER SHARPE ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR W. ED TYLER ISSUER YES FOR FOR

PROPOSAL #2: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: First Potomac Realty Trust

TICKER: FPO CUSIP: 33610F109

MEETING DATE: 5/20/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT H. ARNOLD ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RICHARD B. CHESS �� ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR DOUGLAS J. DONATELLI ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR J. RODERICK HELLER, III ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR R. MICHAEL MCCULLOUGH ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ALAN G. MERTEN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR THOMAS E. ROBINSON ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR TERRY L. STEVENS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Franklin Street Properties Corp.

TICKER: FSP CUSIP: 35471R106

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR GEORGE J. CARTER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR GEORGIA MURRAY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Gaming and Leisure Properties, Inc.

TICKER: GLPI CUSIP: 36467J108

MEETING DATE: 6/19/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOSEPH W. MARSHALL, III ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR E. SCOTT URDANG ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR AGAINST

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ISSUER: General Growth Properties, Inc.

TICKER: GGP CUSIP: 370023103

MEETING DATE: 5/16/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR RICHARD B. CLARK ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR MARY LOU FIALA ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR J. BRUCE FLATT ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR JOHN K. HALEY ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR DANIEL B. HURWITZ ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR BRIAN W. KINGSTON ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR SANDEEP MATHRANI ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR DAVID J. NEITHERCUT ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR MARK R. PATTERSON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Getty Realty Corp.

TICKER: GTY CUSIP: 374297109

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR LEO LIEBOWITZ ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR MILTON COOPER ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR PHILIP E. COVIELLO ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR DAVID B. DRISCOLL ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR RICHARD E. MONTAG ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR HOWARD B. SAFENOWITZ ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Glimcher Realty Trust

TICKER: GRT CUSIP: 379302102

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL P. GLIMCHER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR YVETTE MCGEE BROWN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR NANCY J. KRAMER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Government Properties Income Trust

TICKER: GOV CUSIP: 38376A103

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JEFFREY P. SOMERS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BARRY M. PORTNOY ISSUER YES FOR FOR

PROPOSAL #2: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: HCP, Inc.

TICKER: HCP CUSIP: 40414L109

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR BRIAN G. CARTWRIGHT ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR CHRISTINE N. GARVEY ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR DAVID B. HENRY ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR LAURALEE E. MARTIN ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR MICHAEL D. MCKEE ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR PETER L. RHEIN ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR JOSEPH P. SULLIVAN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

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ISSUER: Health Care REIT, Inc.

TICKER: HCN CUSIP: 42217K106

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR WILLIAM C. BALLARD, JR. ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR GEORGE L. CHAPMAN ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR THOMAS J. DEROSA ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR JEFFREY H. DONAHUE ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR PETER J. GRUA ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR FRED S. KLIPSCH ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR TIMOTHY J. NAUGHTON ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR SHARON M. OSTER ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR JUDITH C. PELHAM ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR R. SCOTT TRUMBULL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

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ISSUER: Healthcare Realty Trust Incorporated

TICKER: HR CUSIP: 421946104

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DAVID R. EMERY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BATEY M. GRESHAM, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR DAN S. WILFORD ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Healthcare Trust of America, Inc.

TICKER: HTA CUSIP: 42225P105

MEETING DATE: 7/9/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR SCOTT D. PETERS ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR W. BRADLEY BLAIR, II ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MAURICE J. DEWALD ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR WARREN D. FIX ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR LARRY L. MATHIS ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GARY T. WESCOMBE ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Healthcare Trust of America, Inc.

TICKER: HTA CUSIP: 42225P105

MEETING DATE: 3/10/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: AMEND ARTICLES BOARD-RELATED ISSUER YES FOR FOR

PROPOSAL #2: AMEND ARTICLES ISSUER YES AGAINST AGAINST

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ISSUER: Hersha Hospitality Trust

TICKER: HT CUSIP: 427825104

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR JAY H. SHAH ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR THOMAS J. HUTCHISON, III ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR DONALD J. LANDRY ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR MICHAEL A. LEVEN ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Highwoods Properties, Inc.

TICKER: HIW CUSIP: 431284108

MEETING DATE: 5/30/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CHARLES A. ANDERSON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR GENE H. ANDERSON ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR EDWARD J. FRITSCH ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DAVID J. HARTZELL ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR SHERRY A. KELLETT ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MARK F. MULHERN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR L. GLENN ORR, JR. ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR O. TEMPLE SLOAN, JR. ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Home Properties, Inc.

TICKER: HME CUSIP: 437306103

MEETING DATE: 4/29/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL D. BARNELLO ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BONNIE S. BIUMI ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR STEPHEN R. BLANK ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ALAN L. GOSULE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR LEONARD F. HELBIG, III ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR THOMAS P. LYDON, JR. ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR EDWARD J. PETTINELLA ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR CLIFFORD W. SMITH, JR. ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #5: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Hospitality Properties Trust

TICKER: HPT CUSIP: 44106M102

MEETING DATE: 6/10/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOHN L. HARRINGTON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BARRY M. PORTNOY ISSUER YES FOR FOR

PROPOSAL #2: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #5: AMEND ARTICLES TO REMOVE ANTITAKEOVER SHAREHOLDER YES FOR N/A

PROVISIONS

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ISSUER: Host Hotels & Resorts, Inc.

TICKER: HST CUSIP: 44107P104

MEETING DATE: 5/14/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MARY L. BAGLIVO ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR SHEILA C. BAIR ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR TERENCE C. GOLDEN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ANN M. KOROLOGOS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RICHARD E. MARRIOTT ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOHN B. MORSE, JR. ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR WALTER C. RAKOWICH ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR GORDON H. SMITH ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR W. EDWARD WALTER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Hudson Pacific Properties, Inc.

TICKER: HPP CUSIP: 444097109

MEETING DATE: 5/20/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR VICTOR J. COLEMAN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR THEODORE R. ANTENUCCI ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR RICHARD B. FRIED ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JONATHAN M. GLASER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MARK D. LINEHAN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ROBERT M. MORAN, JR. ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR BARRY A. PORTER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR PATRICK WHITESELL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Inland Real Estate Corporation

TICKER: IRC CUSIP: 457461200

MEETING DATE: 7/15/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR THOMAS P. D'ARCY ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR DANIEL L. GOODWIN ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR JOEL G. HERTER ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR HEIDI N. LAWTON ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR THOMAS H. MCAULEY ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR THOMAS R. MCWILLIAMS ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR JOEL D. SIMMONS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3a: AMEND CHARTER TO REMOVE PROVISIONS ISSUER YES FOR FOR

PROPOSAL #3b: AMEND CHARTER TO REVISE PROVISIONS ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Inland Real Estate Corporation

TICKER: IRC CUSIP: 457461200

MEETING DATE: 6/18/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1A: ELECT DIRECTOR THOMAS P. D'ARCY ISSUER YES FOR FOR

PROPOSAL #1B: ELECT DIRECTOR DANIEL L. GOODWIN ISSUER YES FOR FOR

PROPOSAL #1C: ELECT DIRECTOR JOEL G. HERTER ISSUER YES FOR FOR

PROPOSAL #1D: ELECT DIRECTOR HEIDI N. LAWTON ISSUER YES FOR FOR

PROPOSAL #1E: ELECT DIRECTOR THOMAS H. MCAULEY ISSUER YES FOR FOR

PROPOSAL #1F: ELECT DIRECTOR THOMAS R. MCWILLIAMS ISSUER YES FOR FOR

PROPOSAL #1G: ELECT DIRECTOR JOEL D. SIMMONS ISSUER YES FOR FOR

PROPOSAL #1H: ELECT DIRECTOR MARK E. ZALATORIS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Investors Real Estate Trust

TICKER: IRET CUSIP: 461730103

MEETING DATE: 9/17/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR TIMOTHY P. MIHALICK ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JEFFREY L. MILLER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JOHN T. REED ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR W. DAVID SCOTT ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR STEPHEN L. STENEHJEM ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOHN D. STEWART ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR THOMAS A. WENTZ, JR. ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR JEFFREY K. WOODBURY ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR LINDA J. HALL ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: AMEND RESTRICTED STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Kilroy Realty Corporation

TICKER: KRC CUSIP: 49427F108

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOHN B. KILROY, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR EDWARD F. BRENNAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR SCOTT S. INGRAHAM ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DALE F. KINSELLA ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR PETER B. STONEBERG ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GARY R. STEVENSON ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: ADOPT MAJORITY VOTING FOR UNCONTESTED ISSUER YES FOR FOR

ELECTION OF DIRECTORS

PROPOSAL #5: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #6: ADOPT PROXY ACCESS RIGHT SHAREHOLDER YES AGAINST FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Kimco Realty Corporation

TICKER: KIM CUSIP: 49446R109

MEETING DATE: 5/6/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MILTON COOPER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR PHILLIP E. COVIELLO ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR RICHARD G. DOOLEY ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JOE GRILLS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DAVID B. HENRY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR F. PATRICK HUGHES ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR FRANK LOURENSO ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR COLOMBE M. NICHOLAS ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR RICHARD B. SALTZMAN ISSUER YES FOR FOR

PROPOSAL #2: REDUCE SUPERMAJORITY VOTE REQUIREMENT ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Kite Realty Group Trust

TICKER: KRG CUSIP: 49803T102

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOHN A. KITE ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR WILLIAM E. BINDLEY ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR VICTOR J. COLEMAN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR RICHARD A. COSIER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR CHRISTIE B. KELLY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GERALD L. MOSS ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DAVID R. O'REILLY ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR BARTON R. PETERSON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Kite Realty Group Trust

TICKER: KRG CUSIP: 49803T102

MEETING DATE: 6/24/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: ISSUE SHARES IN CONNECTION WITH ISSUER YES FOR FOR

ACQUISITION

PROPOSAL #2: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: LaSalle Hotel Properties

TICKER: LHO CUSIP: 517942108

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL D. BARNELLO ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DONALD A. WASHBURN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #5: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Lexington Realty Trust

TICKER: LXP CUSIP: 529043101

MEETING DATE: 5/20/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR E. ROBERT ROSKIND ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR T. WILSON EGLIN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR RICHARD J. ROUSE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR HAROLD FIRST ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RICHARD S. FRARY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JAMES GROSFELD ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR KEVIN W. LYNCH ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES AGAINST AGAINST

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Liberty Property Trust

TICKER: LPT CUSIP: 531172104

MEETING DATE: 5/8/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR FREDERICK F. BUCHHOLZ ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR THOMAS C. DELOACH, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR KATHERINE ELIZABETH ISSUER YES FOR FOR

DIETZE

PROPOSAL #1.4: ELECT DIRECTOR DANIEL P. GARTON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR WILLIAM P. HANKOWSKY ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR M. LEANNE LACHMAN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DAVID L. LINGERFELT ISSUER YES FOR FOR

PROPOSAL #2: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #5: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: LTC Properties, Inc.

TICKER: LTC CUSIP: 502175102

MEETING DATE: 6/10/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR BOYD W. HENDRICKSON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR EDMUND C. KING ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JAMES J. PIECZYNSKI ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DEVRA G. SHAPIRO ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR WENDY L. SIMPSON ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR TIMOTHY J. TRICHE ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Mack-Cali Realty Corporation

TICKER: CLI CUSIP: 554489104

MEETING DATE: 5/12/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR NATHAN GANTCHER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID S. MACK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR WILLIAM L. MACK ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ALAN G. PHILIBOSIAN ISSUER YES FOR FOR

PROPOSAL #2: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES AGAINST AGAINST

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Medical Properties Trust, Inc.

TICKER: MPW CUSIP: 58463J304

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR EDWARD K. ALDAG, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR G. STEVEN DAWSON ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR R. STEVEN HAMNER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ROBERT E. HOLMES ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR SHERRY A. KELLETT ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR WILLIAM G. MCKENZIE ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR L. GLENN ORR, JR. ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Mid-America Apartment Communities, Inc.

TICKER: MAA CUSIP: 59522J103

MEETING DATE: 9/27/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE MERGER AGREEMENT ISSUER YES FOR FOR

PROPOSAL #2: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Mid-America Apartment Communities, Inc.

TICKER: MAA CUSIP: 59522J103

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR H. ERIC BOLTON, JR. ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR ALAN B. GRAF, JR. ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR RALPH HORN ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR JAMES K. LOWDER ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR THOMAS H. LOWDER ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR CLAUDE B. NIELSEN ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR PHILIP W. NORWOOD ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR HAROLD W. RIPPS ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR W. REID SANDERS ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR WILLIAM B. SANSOM ISSUER YES FOR FOR

PROPOSAL #1k: ELECT DIRECTOR GARY SHORB ISSUER YES FOR FOR

PROPOSAL #1l: ELECT DIRECTOR JOHN W. SPIEGEL ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Monmouth Real Estate Investment Corporation

TICKER: MNR CUSIP: 609720107

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR BRIAN H. HAIMM ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR NEAL HERSTIK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MATTHEW I. HIRSCH ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR STEPHEN B. WOLGIN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: National Health Investors, Inc.

TICKER: NHI CUSIP: 63633D104

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR W. ANDREW ADAMS ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR ROBERT A. MCCABE, JR. ISSUER YES FOR FOR

PROPOSAL #2: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: NATIONAL RETAIL PROPERTIES, INC.

TICKER: NNN CUSIP: 637417106

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DON DEFOSSET ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID M. FICK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR EDWARD J. FRITSCH ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR KEVIN B. HABICHT ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RICHARD B. JENNINGS ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR TED B. LANIER ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR ROBERT C. LEGLER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR CRAIG MACNAB ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR ROBERT MARTINEZ ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Omega Healthcare Investors, Inc.

TICKER: OHI CUSIP: 681936100

MEETING DATE: 6/12/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR BARBARA B. HILL ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR HAROLD J. KLOOSTERMAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR C. TAYLOR PICKETT ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: One Liberty Properties, Inc.

TICKER: OLP CUSIP: 682406103

MEETING DATE: 6/11/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CHARLES BIEDERMAN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JAMES J. BURNS ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR PATRICK J. CALLAN, JR. ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR LOUIS P. KAROL ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Parkway Properties, Inc.

TICKER: PKY CUSIP: 70159Q104

MEETING DATE: 12/17/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE ACQUISITION ISSUER YES FOR FOR

PROPOSAL #2: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #3: ADJOURN MEETING ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Parkway Properties, Inc.

TICKER: PKY CUSIP: 70159Q104

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR AVI BANYASZ ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR CHARLES T. CANNADA ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR EDWARD M. CASAL ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR KELVIN L. DAVIS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR LAURIE L. DOTTER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JAMES R. HEISTAND ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR C. WILLIAM HOSLER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR ADAM S. METZ ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR BRENDA J. MIXSON ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR JAMES A. THOMAS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES AGAINST AGAINST

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Pebblebrook Hotel Trust

TICKER: PEB CUSIP: 70509V100

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JON E. BORTZ ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR CYDNEY C. DONNELL ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR RON E. JACKSON ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR PHILLIP M. MILLER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MICHAEL J. SCHALL ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR EARL E. WEBB ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR LAURA H. WRIGHT ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Pennsylvania Real Estate Investment Trust

TICKER: PEI CUSIP: 709102107

MEETING DATE: 5/30/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOSEPH F. CORADINO ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR M. WALTER D'ALESSIO ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR ROSEMARIE B. GRECO ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR LEONARD I. KORMAN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DONALD F. MAZZIOTTI ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MARK E. PASQUERILLA ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR CHARLES P. PIZZI ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR JOHN J. ROBERTS ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR RONALD RUBIN ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Piedmont Office Realty Trust, Inc.

TICKER: PDM CUSIP: 720190206

MEETING DATE: 5/14/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR W. WAYNE WOODY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR MICHAEL R. BUCHANAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR WESLEY E. CANTRELL ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR WILLIAM H. KEOGLER, JR. ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR FRANK C. MCDOWELL ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DONALD A. MILLER ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR RAYMOND G. MILNES, JR. ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR DONALD S. MOSS ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR JEFFREY L. SWOPE ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Post Properties, Inc.

TICKER: PPS CUSIP: 737464107

MEETING DATE: 5/8/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT C. GODDARD, III ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID P. STOCKERT ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR HERSCHEL M. BLOOM ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR WALTER M. DERISO, JR. ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RUSSELL R. FRENCH ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR TONI JENNINGS ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR RONALD DE WAAL ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR DONALD C. WOOD ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: APPROVE NONQUALIFIED EMPLOYEE STOCK ISSUER YES FOR FOR

PURCHASE PLAN

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Prologis, Inc.

TICKER: PLD CUSIP: 74340W103

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR HAMID R. MOGHADAM ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR GEORGE L. FOTIADES ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR CHRISTINE N. GARVEY ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR LYDIA H. KENNARD ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR J. MICHAEL LOSH ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR IRVING F. LYONS, III ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR JEFFREY L. SKELTON ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR D. MICHAEL STEUERT ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR CARL B. WEBB ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR WILLIAM D. ZOLLARS ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: PS Business Parks, Inc.

TICKER: PSB CUSIP: 69360J107

MEETING DATE: 4/28/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR RONALD L. HAVNER, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JOSEPH D. RUSSELL, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JENNIFER HOLDEN DUNBAR ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JAMES H. KROPP ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR SARA GROOTWASSINK LEWIS ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MICHAEL V. MCGEE ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR GARY E. PRUITT ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR ROBERT S. ROLLO ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR PETER SCHULTZ ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Public Storage

TICKER: PSA CUSIP: 74460D109

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR RONALD L. HAVNER, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR TAMARA HUGHES GUSTAVSON ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR URI P. HARKHAM ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR B. WAYNE HUGHES, JR. ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR AVEDICK B. POLADIAN ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GARY E. PRUITT ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR RONALD P. SPOGLI ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR DANIEL C. STATON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: RAIT FINANCIAL TRUST

TICKER: RAS CUSIP: 749227609

MEETING DATE: 5/13/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR SCOTT F. SCHAEFFER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ANDREW BATINOVICH ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR EDWARD S. BROWN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR FRANK A. FARNESI ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR S. KRISTIN KIM ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JON C. SARKISIAN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR ANDREW M. SILBERSTEIN ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR MURRAY STEMPEL, III ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Ramco-Gershenson Properties Trust

TICKER: RPT CUSIP: 751452202

MEETING DATE: 5/6/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR STEPHEN R. BLANK ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DENNIS GERSHENSON ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR ARTHUR GOLDBERG ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DAVID J. NETTINA ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR MATTHEW L. OSTROWER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR JOEL M. PASHCOW ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR MARK K. ROSENFELD ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR MICHAEL A. WARD ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Realty Income Corporation

TICKER: O CUSIP: 756109104

MEETING DATE: 5/6/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR KATHLEEN R. ALLEN ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR JOHN P. CASE ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR A. LARRY CHAPMAN ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR PRIYA CHERIAN HUSKINS ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR MICHAEL D. MCKEE ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR GREGORY T. MCLAUGHLIN ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR RONALD L. MERRIMAN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Regency Centers Corporation

TICKER: REG CUSIP: 758849103

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MARTIN E. STEIN, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RAYMOND L. BANK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR C. RONALD BLANKENSHIP ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR A. R. CARPENTER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR J. DIX DRUCE, JR. ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MARY LOU FIALA ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DOUGLAS S. LUKE ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR DAVID P. O'CONNOR ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR JOHN C. SCHWEITZER ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR BRIAN M. SMITH ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR THOMAS G. WATTLES ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Retail Opportunity Investments Corp.

TICKER: ROIC CUSIP: 76131N101

MEETING DATE: 4/30/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR RICHARD A. BAKER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR MICHAEL J. INDIVERI ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR EDWARD H. MEYER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR LEE S. NEBART ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR CHARLES J. PERSICO ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR LAURA H. POMERANTZ ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR STUART A. TANZ ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR ERIC S. ZORN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Retail Properties of America, Inc.

TICKER: RPAI CUSIP: 76131V202

MEETING DATE: 10/8/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KENNETH H. BEARD ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR FRANK A. CATALANO, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR PAUL R. GAUVREAU ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR GERALD M. GORSKI ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR STEVEN P. GRIMES ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR RICHARD P. IMPERIALE ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR KENNETH E. MASICK ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR BARBARA A. MURPHY ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR THOMAS J. SARGEANT ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: AMEND NON-EMPLOYEE DIRECTOR OMNIBUS ISSUER YES FOR FOR

STOCK PLAN

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Retail Properties of America, Inc.

TICKER: RPAI CUSIP: 76131V202

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR FRANK A. CATALANO, JR. ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR PAUL R. GAUVREAU ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR GERALD M. GORSKI ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR STEVEN P. GRIMES ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RICHARD P. IMPERIALE ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR PETER L. LYNCH ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR KENNETH E. MASICK ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR BARBARA A. MURPHY ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR THOMAS J. SARGEANT ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: RLJ Lodging Trust

TICKER: RLJ CUSIP: 74965L101

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT L. JOHNSON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR THOMAS J. BALTIMORE, ISSUER YES FOR FOR

JR.

PROPOSAL #1.3: ELECT DIRECTOR EVAN BAYH ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR NATHANIEL A. DAVIS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR ROBERT M. LA FORGIA ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GLENDA G. MCNEAL ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JOSEPH RYAN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Rouse Properties, Inc.

TICKER: RSE CUSIP: 779287101

MEETING DATE: 5/9/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JEFFREY BLIDNER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RICHARD CLARK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR CHRISTOPHER HALEY ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MICHAEL HEGARTY ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR BRIAN KINGSTON ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DAVID KRUTH ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR MICHAEL MULLEN ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR ANDREW SILBERFEIN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: APPROVE QUALIFIED EMPLOYEE STOCK ISSUER YES FOR FOR

PURCHASE PLAN

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ISSUER: Ryman Hospitality Properties, Inc.

TICKER: RHP CUSIP: 78377T107

MEETING DATE: 5/8/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL J. BENDER ISSUER YES FOR �� FOR

PROPOSAL #1.2: ELECT DIRECTOR E. K. GAYLORD, II ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR D. RALPH HORN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ELLEN LEVINE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR ROBERT S. PRATHER, JR. ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR COLIN V. REED ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR MICHAEL D. ROSE ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR MICHAEL I. ROTH ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Sabra Health Care REIT, Inc.

TICKER: SBRA CUSIP: 78573L106

MEETING DATE: 6/24/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR CRAIG A. BARBAROSH ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR ROBERT A. ETTL ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR MICHAEL J. FOSTER ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR RICHARD K. MATROS ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR MILTON J. WALTERS ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: SAUL CENTERS, INC.

TICKER: BFS CUSIP: 804395101

MEETING DATE: 5/9/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR B. FRANCIS SAUL, II ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JOHN E. CHAPOTON ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR H. GREGORY PLATTS ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JAMES E. SYMINGTON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR JOHN R. WHITMORE ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: OTHER BUSINESS ISSUER YES AGAINST AGAINST

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Select Income REIT

TICKER: SIR CUSIP: 81618T100

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DONNA D. FRAICHE ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ADAM D. PORTNOY ISSUER YES FOR FOR

PROPOSAL #2: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Senior Housing Properties Trust

TICKER: SNH CUSIP: 81721M109

MEETING DATE: 6/5/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: ELECT DIRECTOR FREDERICK N. ZEYTOONJIAN ISSUER YES FOR FOR

PROPOSAL #2: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Silver Bay Realty Trust Corp.

TICKER: SBY CUSIP: 82735Q102

MEETING DATE: 5/21/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR THOMAS W. BROCK ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DARYL J. CARTER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR TANUJA M. DEHNE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR STEPHEN G. KASNET ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR IRVIN R. KESSLER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DAVID N. MILLER ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR THOMAS SIERING ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR BRIAN C. TAYLOR ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR RONALD N. WEISER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Simon Property Group, Inc.

TICKER: SPG CUSIP: 828806109

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MELVYN E. BERGSTEIN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR LARRY C. GLASSCOCK ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR KAREN N. HORN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR ALLAN HUBBARD ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR REUBEN S. LEIBOWITZ ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DANIEL C. SMITH ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR J. ALBERT SMITH, JR. ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: SL Green Realty Corp.

TICKER: SLG CUSIP: 78440X101

MEETING DATE: 6/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MARC HOLLIDAY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR JOHN S. LEVY ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Sovran Self Storage, Inc.

TICKER: SSS CUSIP: 84610H108

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT J. ATTEA ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR KENNETH F. MYSZKA ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR ANTHONY P. GAMMIE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR CHARLES E. LANNON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR JAMES R. BOLDT ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR STEPHEN R. RUSMISEL ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Spirit Realty Capital, Inc.

TICKER: SRC CUSIP: 84860W102

MEETING DATE: 6/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KEVIN M. CHARLTON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR TODD A. DUNN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR DAVID J. GILBERT ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR RICHARD I. GILCHRIST ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR DIANE M. MOREFIELD ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR THOMAS H. NOLAN, JR. ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR SHELI Z. ROSENBERG ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR THOMAS D. SENKBEIL ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR NICHOLAS P. SHEPHERD ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR

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ISSUER: STAG Industrial, Inc.

TICKER: STAG CUSIP: 85254J102

MEETING DATE: 5/5/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR BENJAMIN S. BUTCHER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR VIRGIS W. COLBERT ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JEFFREY D. FURBER ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR LARRY T. GUILLEMETTE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR FRANCIS X. JACOBY, III ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR CHRISTOPHER P. MARR ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR HANS S. WEGER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

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ISSUER: Strategic Hotels & Resorts, Inc.

TICKER: BEE CUSIP: 86272T106

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT P. BOWEN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RAYMOND L. GELLEIN, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR JAMES A. JEFFS ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR DAVID W. JOHNSON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR RICHARD D. KINCAID ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR DAVID M.C. MICHELS ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR WILLIAM A. PREZANT ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR EUGENE F. REILLY ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR SHELI Z. ROSENBERG ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

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ISSUER: Summit Hotel Properties, Inc.

TICKER: INN CUSIP: 866082100

MEETING DATE: 6/16/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KERRY W. BOEKELHEIDE ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DANIEL P. HANSEN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR BJORN R. L. HANSON ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR THOMAS W. STOREY ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR WAYNE W. WIELGUS ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Sun Communities, Inc.

TICKER: SUI CUSIP: 866674104

MEETING DATE: 7/23/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR STEPHANIE W. BERGERON ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR CLUNET R. LEWIS ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR ARTHUR A. WEISS ISSUER YES FOR FOR

PROPOSAL #2: DECLASSIFY THE BOARD OF DIRECTORS ISSUER YES FOR FOR

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #4: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Sunstone Hotel Investors, Inc.

TICKER: SHO CUSIP: 867892101

MEETING DATE: 5/1/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR JOHN V. ARABIA ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ANDREW BATINOVICH ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR Z. JAMIE BEHAR ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR KENNETH E. CRUSE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR THOMAS A. LEWIS, JR. ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR KEITH M. LOCKER ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR DOUGLAS M. PASQUALE ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR KEITH P. RUSSELL ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR LEWIS N. WOLFF ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Tanger Factory Outlet Centers, Inc.

TICKER: SKT CUSIP: 875465106

MEETING DATE: 5/16/2014 �� FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR WILLIAM G. BENTON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR BRIDGET RYAN BERMAN ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR DONALD G. DRAPKIN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR THOMAS J. REDDIN ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR THOMAS E. ROBINSON ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ALLAN L. SCHUMAN ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR STEVEN B. TANGER ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Taubman Centers, Inc.

TICKER: TCO CUSIP: 876664103

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ROBERT S. TAUBMAN ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR LISA A. PAYNE ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR WILLIAM U. PARFET ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: The GEO Group, Inc.

TICKER: GEO CUSIP: 36159R103

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR CLARENCE E. ANTHONY ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR NORMAN A. CARLSON ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR ANNE N. FOREMAN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR RICHARD H. GLANTON ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR CHRISTOPHER C. WHEELER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR GEORGE C. ZOLEY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: APPROVE OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #5: OTHER BUSINESS ISSUER YES AGAINST AGAINST

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: The GEO Group, Inc.

TICKER: GEO CUSIP: 36159R103

MEETING DATE: 5/2/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: INCREASE AUTHORIZED COMMON STOCK ISSUER YES FOR FOR

PROPOSAL #2: ADJOURN MEETING ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: The Macerich Company

TICKER: MAC CUSIP: 554382101

MEETING DATE: 5/30/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR DOUGLAS D. ABBEY ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR DANA K. ANDERSON ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR ARTHUR M. COPPOLA ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR EDWARD C. COPPOLA ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR FRED S. HUBBELL ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR DIANA M. LAING ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR STANLEY A. MOORE ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR MASON G. ROSS ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR WILLIAM P. SEXTON ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR STEVEN L. SOBOROFF ISSUER YES FOR FOR

PROPOSAL #1k: ELECT DIRECTOR ANDREA M. STEPHEN ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #5: ELIMINATE SUPERMAJORITY VOTE REQUIREMENT ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: UDR, Inc.

TICKER: UDR CUSIP: 902653104

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KATHERINE A. CATTANACH ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ERIC J. FOSS ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR ROBERT P. FREEMAN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JON A. GROVE ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR JAMES D. KLINGBEIL ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR ROBERT A. MCNAMARA ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR MARK R. PATTERSON ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR LYNNE B. SAGALYN ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR THOMAS W. TOOMEY ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Universal Health Realty Income Trust

TICKER: UHT CUSIP: 91359E105

MEETING DATE: 6/12/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ALAN B. MILLER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ROBERT F. MCCADDEN ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Urstadt Biddle Properties Inc.

TICKER: UBA CUSIP: 917286106

MEETING DATE: 3/26/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KEVIN J. BANNON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RICHARD GRELLIER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR CHARLES D. URSTADT ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND RESTRICTED STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Urstadt Biddle Properties Inc.

TICKER: UBA CUSIP: 917286205

MEETING DATE: 3/26/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR KEVIN J. BANNON ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR RICHARD GRELLIER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR CHARLES D. URSTADT ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: AMEND RESTRICTED STOCK PLAN ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Ventas, Inc.

TICKER: VTR CUSIP: 92276F100

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1a: ELECT DIRECTOR DEBRA A. CAFARO ISSUER YES FOR FOR

PROPOSAL #1b: ELECT DIRECTOR DOUGLAS CROCKER, II ISSUER YES FOR FOR

PROPOSAL #1c: ELECT DIRECTOR RONALD G. GEARY ISSUER YES FOR FOR

PROPOSAL #1d: ELECT DIRECTOR JAY M. GELLERT ISSUER YES FOR FOR

PROPOSAL #1e: ELECT DIRECTOR RICHARD I. GILCHRIST ISSUER YES FOR FOR

PROPOSAL #1f: ELECT DIRECTOR MATTHEW J. LUSTIG ISSUER YES FOR FOR

PROPOSAL #1g: ELECT DIRECTOR DOUGLAS M. PASQUALE ISSUER YES FOR FOR

PROPOSAL #1h: ELECT DIRECTOR ROBERT D. REED ISSUER YES FOR FOR

PROPOSAL #1i: ELECT DIRECTOR GLENN J. RUFRANO ISSUER YES FOR FOR

PROPOSAL #1j: ELECT DIRECTOR JAMES D. SHELTON ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Vornado Realty Trust

TICKER: VNO CUSIP: 929042109

MEETING DATE: 5/22/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL LYNNE ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DAVID MANDELBAUM ISSUER YES WITHHOLD AGAINST

PROPOSAL #1.3: ELECT DIRECTOR DANIEL R. TISCH ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: REQUIRE A MAJORITY VOTE FOR THE ELECTION SHAREHOLDER YES FOR AGAINST

OF DIRECTORS

PROPOSAL #5: REQUIRE INDEPENDENT BOARD CHAIRMAN SHAREHOLDER YES AGAINST FOR

PROPOSAL #6: DECLASSIFY THE BOARD OF DIRECTORS SHAREHOLDER YES FOR AGAINST

PROPOSAL #7: PRO-RATA VESTING OF EQUITY AWARDS SHAREHOLDER YES AGAINST FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: W. P. Carey Inc.

TICKER: WPC CUSIP: 92936U109

MEETING DATE: 7/11/2013 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR TREVOR P. BOND ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR FRANCIS J. CAREY ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR NATHANIEL S. COOLIDGE ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR MARK J. DECESARIS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR EBERHARD FABER, IV ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR BENJAMIN H. GRISWOLD, ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR AXEL K.A. HANSING ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR RICHARD C. MARSTON ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR ROBERT E. MITTELSTAEDT, ISSUER YES FOR FOR

JR.

PROPOSAL #1.10: ELECT DIRECTOR CHARLES E. PARENTE ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR NICK J.M. VAN OMMEN ISSUER YES FOR FOR

PROPOSAL #1.12: ELECT DIRECTOR KARSTEN VON KOLLER ISSUER YES FOR FOR

PROPOSAL #1.13: ELECT DIRECTOR REGINALD WINSSINGER ISSUER YES FOR FOR

PROPOSAL #2: AMEND OMNIBUS STOCK PLAN ISSUER YES FOR FOR

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: W. P. Carey Inc.

TICKER: WPC CUSIP: 92936U109

MEETING DATE: 1/24/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1: APPROVE MERGER AGREEMENT ISSUER YES FOR FOR

PROPOSAL #2: OTHER BUSINESS ISSUER YES AGAINST AGAINST

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: W. P. Carey Inc.

TICKER: WPC CUSIP: 92936U109

MEETING DATE: 6/19/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR TREVOR P. BOND ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR NATHANIEL S. COOLIDGE ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR MARK J. DECESARIS ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR EBERHARD FABER, IV ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR BENJAMIN H. GRISWOLD, ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR AXEL K.A. HANSING ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR JEAN HOYSRADT ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR RICHARD C. MARSTON ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR ROBERT E. MITTELSTAEDT, ISSUER YES FOR FOR

JR.

PROPOSAL #1.10: ELECT DIRECTOR CHARLES E. PARENTE ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR MARY M. VANDEWEGHE ISSUER YES FOR FOR

PROPOSAL #1.12: ELECT DIRECTOR NICK J.M. VAN OMMEN ISSUER YES FOR FOR

PROPOSAL #1.13: ELECT DIRECTOR KARSTEN VON KOLLER ISSUER YES FOR FOR

PROPOSAL #1.14: ELECT DIRECTOR REGINALD WINSSINGER ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR FOR

PROPOSAL #4: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Washington Real Estate Investment Trust

TICKER: WRE CUSIP: 939653101

MEETING DATE: 5/15/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR EDWARD S. CIVERA ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR WENDELIN A. WHITE ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Weingarten Realty Investors

TICKER: WRI CUSIP: 948741103

MEETING DATE: 4/24/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR ANDREW M. ALEXANDER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR STANFORD ALEXANDER ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR SHELAGHMICHAEL BROWN ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR JAMES W. CROWNOVER ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR ROBERT J. CRUIKSHANK ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR MELVIN A. DOW ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR STEPHEN A. LASHER ISSUER YES FOR FOR

PROPOSAL #1.8: ELECT DIRECTOR THOMAS L. RYAN ISSUER YES FOR FOR

PROPOSAL #1.9: ELECT DIRECTOR DOUGLAS W. SCHNITZER ISSUER YES FOR FOR

PROPOSAL #1.10: ELECT DIRECTOR C. PARK SHAPER ISSUER YES FOR FOR

PROPOSAL #1.11: ELECT DIRECTOR MARC J. SHAPIRO ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Whitestone REIT

TICKER: WSR CUSIP: 966084204

MEETING DATE: 5/7/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR DARYL J. CARTER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR DONALD F. KEATING ISSUER YES FOR FOR

PROPOSAL #2: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #3: RATIFY AUDITORS ISSUER YES FOR FOR

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ISSUER: Winthrop Realty Trust

TICKER: FUR CUSIP: 976391300

MEETING DATE: 5/20/2014 FOR/AGAINST

PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT

PROPOSAL #1.1: ELECT DIRECTOR MICHAEL L. ASHNER ISSUER YES FOR FOR

PROPOSAL #1.2: ELECT DIRECTOR ARTHUR BLASBERG, JR. ISSUER YES FOR FOR

PROPOSAL #1.3: ELECT DIRECTOR HOWARD GOLDBERG �� ISSUER YES FOR FOR

PROPOSAL #1.4: ELECT DIRECTOR THOMAS F. MCWILLIAMS ISSUER YES FOR FOR

PROPOSAL #1.5: ELECT DIRECTOR LEE SEIDLER ISSUER YES FOR FOR

PROPOSAL #1.6: ELECT DIRECTOR CAROLYN TIFFANY ISSUER YES FOR FOR

PROPOSAL #1.7: ELECT DIRECTOR STEVEN ZALKIND ISSUER YES FOR FOR

PROPOSAL #2: RATIFY AUDITORS ISSUER YES FOR FOR

PROPOSAL #3: ADVISORY VOTE TO RATIFY NAMED EXECUTIVE ISSUER YES FOR FOR

OFFICERS' COMPENSATION

PROPOSAL #4: ADVISORY VOTE ON SAY ON PAY FREQUENCY ISSUER YES ONE YEAR AGAINST

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.

VANGUARD SPECIALIZED FUNDS

By: /s/F. William McNabb III

F. William McNabb III*

Chairman and Chief Executive Officer

Date: August 28, 2014

*By: /s/Heidi Stam

Heidi Stam, pursuant to a Power of Attorney filed on April 22, 2014,

see File Number 2-17620. Incorporated by Reference.

Vanguard Health Care Fund (VGHCX) N-PXAnnual report of proxy voting record