UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-09117 Morgan Stanley Real Estate Fund (Exact name of registrant as specified in charter) 522 Fifth Avenue, New York, New York 10036 (Address of principal executive offices) (Zip code) Stefanie V. Chang Yu, Esq. Managing Director Morgan Stanley Investment Advisors Inc. 522 Fifth Avenue New York, New York 10036 (Name and address of agent for service) Registrant's telephone number, including area code: 800-869-6397 Date of fiscal year end: 11/30 Date of reporting period: 7/1/08 - 6/30/09 ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-09117 Reporting Period: 07/01/2008 - 06/30/2009 Morgan Stanley Real Estate Fund ======================= MORGAN STANLEY REAL ESTATE FUND ======================== ACADIA REALTY TRUST Ticker: AKR Security ID: 004239109 Meeting Date: MAY 13, 2009 Meeting Type: Annual Record Date: MAR 31, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Kenneth F. Bernstein For For Management 1.2 Elect Director Douglas Crocker II For For Management 1.3 Elect Director Suzanne Hopgood For For Management 1.4 Elect Director Lorrence T. Kellar For For Management 1.5 Elect Director Wendy Luscombe For For Management 1.6 Elect Director William T. Spitz For For Management 1.7 Elect Director Lee S. Wielansky For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- AMB PROPERTY CORP. Ticker: AMB Security ID: 00163T109 Meeting Date: MAY 7, 2009 Meeting Type: Annual Record Date: MAR 3, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Hamid R. Moghadam For For Management 1.2 Elect Director T. Robert Burke For For Management 1.3 Elect Director David A. Cole For For Management 1.4 Elect Director Lydia H. Kennard For For Management 1.5 Elect Director J. Michael Losh For For Management 1.6 Elect Director Frederick W. Reid For For Management 1.7 Elect Director Jeffrey L. Skelton For For Management 1.8 Elect Director Thomas W. Tusher For For Management 1.9 Elect Director Carl B. Webb For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- ASSISTED LIVING CONCEPTS, INC. Ticker: ALC Security ID: 04544X300 Meeting Date: APR 30, 2009 Meeting Type: Annual Record Date: MAR 20, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Laurie A. Bebo For For Management 1.2 Elect Director Alan Bell For For Management 1.3 Elect Director Jesse C. Brotz For Withhold Management 1.4 Elect Director Derek H.L. Buntain For Withhold Management 1.5 Elect Director David J. Hennigar For Withhold Management 1.6 Elect Director Malen S. Ng For For Management 1.7 Elect Director Melvin A. Rhinelander For For Management 1.8 Elect Director C.H. Roadman, II For For Management 1.9 Elect Director Michael J. Spector For For Management - -------------------------------------------------------------------------------- AVALONBAY COMMUNITIES, INC. Ticker: AVB Security ID: 053484101 Meeting Date: MAY 21, 2009 Meeting Type: Annual Record Date: MAR 6, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Bryce Blair For For Management 1.2 Elect Director Bruce A. Choate For For Management 1.3 Elect Director John J. Healy, Jr. For For Management 1.4 Elect Director Gilbert M. Meyer For For Management 1.5 Elect Director Timothy J. Naughton For For Management 1.6 Elect Director Lance R. Primis For For Management 1.7 Elect Director Peter S. Rummell For For Management 1.8 Elect Director H. Jay Sarles For For Management 1.9 Elect Director W. Edward Walter For For Management 2 Approve Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- BOSTON PROPERTIES INC. Ticker: BXP Security ID: 101121101 Meeting Date: MAY 19, 2009 Meeting Type: Annual Record Date: MAR 24, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Frederick J. Iseman For For Management 1.2 Elect Director Edward H. Linde For For Management 1.3 Elect Director David A. Twardock For For Management 2 Ratify Auditors For For Management 3 Declassify the Board of Directors Against For Shareholder 4 Require a Majority Vote for the Against For Shareholder Election of Directors 5 Prepare Sustainability Report Against Against Shareholder 6 Require Independent Board Chairman Against Against Shareholder - -------------------------------------------------------------------------------- BROOKFIELD PROPERTIES CORP. Ticker: BPO Security ID: 112900105 Meeting Date: APR 30, 2009 Meeting Type: Annual Record Date: MAR 17, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Gordon E. Arnell For For Management 1.2 Elect Director William T. Cahill For For Management 1.3 Elect Director Richard B. Clark For For Management 1.4 Elect Director Jack L. Cockwell For For Management 1.5 Elect Director J. Bruce Flatt For For Management 1.6 Elect Director Roderick D. Fraser For For Management 1.7 Elect Director Paul D. McFarlane For For Management 1.8 Elect Director Allan S. Olson For For Management 1.9 Elect Director Linda D. Rabbitt For For Management 1.10 Elect Director Robert L. Stelzl For For Management 1.11 Elect Director Diana L. Taylor For For Management 1.12 Elect Director John E. Zuccotti For For Management 2 Approve Deloitte & Touche LLP as For For Management Auditors and Authorize Board to Fix Their Remuneration - -------------------------------------------------------------------------------- CAMDEN PROPERTY TRUST Ticker: CPT Security ID: 133131102 Meeting Date: MAY 6, 2009 Meeting Type: Annual Record Date: MAR 16, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Richard J. Campo For For Management 1.2 Elect Director William R. Cooper For For Management 1.3 Elect Director Scott S. Ingraham For For Management 1.4 Elect Director Lewis A. Levey For For Management 1.5 Elect Director William B. McGuire, Jr. For For Management 1.6 Elect Director William F. Paulsen For For Management 1.7 Elect Director D. Keith Oden For For Management 1.8 Elect Director F. Gardner Parker For For Management 1.9 Elect Director Steven A. Webster For For Management 1.10 Elect Director Kelvin R. Westbrook For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- CARE INVESTMENT TRUST Ticker: CRE Security ID: 141657106 Meeting Date: JUN 9, 2009 Meeting Type: Annual Record Date: APR 15, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Flint D. Besecker For For Management 1.2 Elect Director Gerald E. Bisbee, Jr., For For Management Ph.D. 1.3 Elect Director Kirk E. Gorman For For Management 1.4 Elect Director Alexandra Lebenthal For For Management 1.5 Elect Director Karen P. Robards For For Management 1.6 Elect Director J. Rainer Twiford For For Management 1.7 Elect Director Steven N. Warden For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- DOUGLAS EMMETT, INC. Ticker: DEI Security ID: 25960P109 Meeting Date: JUN 11, 2009 Meeting Type: Annual Record Date: APR 13, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Dan A. Emmett For For Management 1.2 Elect Director Jordan L. Kaplan For For Management 1.3 Elect Director Kenneth M. Panzer For For Management 1.4 Elect Director Leslie E. Bider For Withhold Management 1.5 Elect Director Victor J. Coleman For Withhold Management 1.6 Elect Director Ghebre S. Mehreteab For For Management 1.7 Elect Director Thomas E. O'Hern For For Management 1.8 Elect Director Dr. Andrea Rich For Withhold Management 1.9 Elect Director William Wilson III For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- DUKE REALTY CORPORATION Ticker: DRE Security ID: 264411505 Meeting Date: APR 29, 2009 Meeting Type: Annual Record Date: MAR 2, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Thomas J. Baltimore, Jr. For For Management 1.2 Elect Director Barrington H. Branch For For Management 1.3 Elect Director Geoffrey Button For For Management 1.4 Elect Director William Cavanaugh III For For Management 1.5 Elect Director Ngaire E. Cuneo For For Management 1.6 Elect Director Charles R. Eitel For For Management 1.7 Elect Director Martin C. Jischke For For Management 1.8 Elect Director L. Ben Lytle For For Management 1.9 Elect Director Dennis D. Oklak For For Management 1.10 Elect Director Jack R. Shaw For For Management 1.11 Elect Director Lynn C. Thurber For For Management 1.12 Elect Director Robert J. Woodward, Jr. For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- EQUITY LIFESTYLE PROPERTIES INC Ticker: ELS Security ID: 29472R108 Meeting Date: MAY 12, 2009 Meeting Type: Annual Record Date: MAR 6, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Philip C. Calian For For Management 1.2 Elect Director David J. Contis For For Management 1.3 Elect Director Thomas E. Dobrowski For For Management 1.4 Elect Director Thomas P. Heneghan For For Management 1.5 Elect Director Sheli Z. Rosenberg For For Management 1.6 Elect Director Howard Walker For For Management 1.7 Elect Director Gary L. Waterman For For Management 1.8 Elect Director Samuel Zell For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- EQUITY RESIDENTIAL Ticker: EQR Security ID: 29476L107 Meeting Date: JUN 11, 2009 Meeting Type: Annual Record Date: MAR 31, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee John W. Alexander For For Management 1.2 Elect Trustee Charles L. Atwood For For Management 1.3 Elect Trustee Boone A. Knox For For Management 1.4 Elect Trustee John E. Neal For For Management 1.5 Elect Trustee David J. Neithercut For For Management 1.6 Elect Trustee Sheli Z. Rosenberg For For Management 1.7 Elect Trustee Gerald A. Spector For For Management 1.8 Elect Trustee B. Joseph White For For Management 1.9 Elect Trustee Samuel Zell For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Against For Shareholder Election of Directors - -------------------------------------------------------------------------------- EXTENDICARE REAL ESTATE INVESTMENT TRUST Ticker: EXE.U Security ID: 302251103 Meeting Date: MAY 6, 2009 Meeting Type: Annual Record Date: MAR 13, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee Mel Rhinelander For For Management 1.2 Elect Trustee John F. Angus For For Management 1.3 Elect Trustee George A. Fierheller For For Management 1.4 Elect Trustee Seth B. Goldsmith For For Management 1.5 Elect Trustee Michael J.L. Kirby For For Management 1.6 Elect Trustee Frederick B. Ladly For For Management 1.7 Elect Trustee Alvin G. Libin For For Management 1.8 Elect Trustee J. Thomas MacQuarrie For For Management 1.9 Elect Trustee Timothy L. Lukenda For For Management 2 Ratify KPMG LLP as Auditors For For Management - -------------------------------------------------------------------------------- FEDERAL REALTY INVESTMENT TRUST Ticker: FRT Security ID: 313747206 Meeting Date: MAY 6, 2009 Meeting Type: Annual Record Date: MAR 19, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1 Elect Trustee Gail P. Steinel For For Management 2 Elect Trustee Joseph S. Vassalluzzo For For Management 3 Ratify Auditors For For Management 4 Declassify the Board of Trustees For For Management 5 Amend Shareholder Rights Plan (Poison For For Management Pill) - -------------------------------------------------------------------------------- FOREST CITY ENTERPRISES, INC. Ticker: FCE.A Security ID: 345550107 Meeting Date: JUN 5, 2009 Meeting Type: Annual Record Date: APR 14, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Michael P. Esposito, Jr. For For Management 1.2 Elect Director Joan K. Shafran For For Management 1.3 Elect Director Louis Stokes For Withhold Management 1.4 Elect Director Stan Ross For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- HCP INC. Ticker: HCP Security ID: 40414L109 Meeting Date: APR 23, 2009 Meeting Type: Annual Record Date: MAR 3, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert R. Fanning, Jr. For For Management 1.2 Elect Director James F. Flaherty III For For Management 1.3 Elect Director Christine N. Garvey For For Management 1.4 Elect Director David B. Henry For For Management 1.5 Elect Director Lauralee E. Martin For For Management 1.6 Elect Director Michael D. McKee For For Management 1.7 Elect Director Harold M. Messmer, Jr. For For Management 1.8 Elect Director Peter L. Rhein For For Management 1.9 Elect Director Kenneth B. Roath For For Management 1.10 Elect Director Richard M. Rosenberg For For Management 1.11 Elect Director Joseph P. Sullivan For For Management 2 Amend Omnibus Stock Plan For For Management 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- HEALTHCARE REALTY TRUST, INC. Ticker: HR Security ID: 421946104 Meeting Date: MAY 19, 2009 Meeting Type: Annual Record Date: MAR 19, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Errol L. Biggs, Ph.D. For For Management 1.2 Elect Director Charles Raymond For For Management Fernandez, M.D. 1.3 Elect Director Bruce D. Sullivan For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- HOST HOTELS & RESORTS, INC. Ticker: HST Security ID: 44107P104 Meeting Date: MAY 14, 2009 Meeting Type: Annual Record Date: MAR 17, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Roberts M. Baylis For For Management 1.2 Elect Director Terence C. Golden For For Management 1.3 Elect Director Ann M. Korologos For For Management 1.4 Elect Director Richard E. Marriott For For Management 1.5 Elect Director Judith A. McHale For For Management 1.6 Elect Director John B. Morse, Jr. For For Management 1.7 Elect Director W. Edward Walter For For Management 2 Ratify Auditors For For Management 3 Approve Omnibus Stock Plan For For Management 4 Increase Authorized Common Stock For For Management - -------------------------------------------------------------------------------- LIBERTY PROPERTY TRUST Ticker: LRY Security ID: 531172104 Meeting Date: MAY 21, 2009 Meeting Type: Annual Record Date: MAR 20, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director William P. Hankowsky For For Management 1.2 Elect Director David L. Lingerfelt For For Management 1.3 Elect Director Jose A. Mejia For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- MACK-CALI REALTY CORP. Ticker: CLI Security ID: 554489104 Meeting Date: JUN 2, 2009 Meeting Type: Annual Record Date: APR 7, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Mitchell E. Hersh For For Management 1.2 Elect Director John R. Cali For For Management 1.3 Elect Director Irvin D. Reid For For Management 1.4 Elect Director Martin S. Berger For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- MORGANS HOTEL GROUP COMPANY Ticker: MHGC Security ID: 61748W108 Meeting Date: MAY 19, 2009 Meeting Type: Annual Record Date: MAR 27, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Deepak Chopra For For Management 1.2 Elect Director Robert Friedman For For Management 1.3 Elect Director Jeffrey M. Gault For For Management 1.4 Elect Director Marc Gordon For For Management 1.5 Elect Director David T. Hamamoto For For Management 1.6 Elect Director Thomas L. Harrison For For Management 1.7 Elect Director Fred J. Kleisner For For Management 1.8 Elect Director Edwin L. Knetzger, III For For Management 1.9 Elect Director Michael D. Malone For For Management 1.10 Elect Director David J. Moore For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- PLUM CREEK TIMBER COMPANY, INC. Ticker: PCL Security ID: 729251108 Meeting Date: MAY 6, 2009 Meeting Type: Annual Record Date: MAR 10, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Rick R. Holley For For Management 1.2 Elect Director Robin Josephs For For Management 1.3 Elect Director John G. McDonald For For Management 1.4 Elect Director Robert B. McLeod For For Management 1.5 Elect Director John F. Morgan, Sr. For For Management 1.6 Elect Director John H. Scully For For Management 1.7 Elect Director Stephen C. Tobias For For Management 1.8 Elect Director Martin A. White For For Management 2 Adopt Majority Voting for Uncontested For For Management Election of Directors 3 Amend Stock Ownership Limitations For For Management 4 Ratify Auditors For For Management 5 Advisory Vote to Ratify Named Executive Against For Shareholder Officers' Compensation - -------------------------------------------------------------------------------- POST PROPERTIES, INC. Ticker: PPS Security ID: 737464107 Meeting Date: OCT 16, 2008 Meeting Type: Annual Record Date: SEP 8, 2008 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert C. Goddard, III For Withhold Management 1.2 Elect Director David P. Stockert For Withhold Management 1.3 Elect Director Herschel M. Bloom For Withhold Management 1.4 Elect Director Douglas Crocker Ii For For Management 1.5 Elect Director Walter M. Deriso, Jr. For For Management 1.6 Elect Director Russell R. French For For Management 1.7 Elect Director David R. Schwartz For For Management 1.8 Elect Director Stella F. Thayer For For Management 1.9 Elect Director Ronald De Waal For For Management 2 Ratify Auditors For For Management 3 Amend Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- POST PROPERTIES, INC. Ticker: PPS Security ID: 737464107 Meeting Date: JUN 9, 2009 Meeting Type: Annual Record Date: APR 15, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert C. Goddard, III For Withhold Management 1.2 Elect Director Douglas Crocker, II For For Management 1.3 Elect Director David P. Stockert For For Management 1.4 Elect Director Herschel M. Bloom For Withhold Management 1.5 Elect Director Walter M. Deriso, Jr. For For Management 1.6 Elect Director Russell R. French For For Management 1.7 Elect Director Dale Anne Reiss For For Management 1.8 Elect Director David R. Schwartz For For Management 1.9 Elect Director Stella F. Thayer For For Management 1.10 Elect Director Ronald de Waal For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- PS BUSINESS PARKS, INC. Ticker: PSB Security ID: 69360J107 Meeting Date: MAY 4, 2009 Meeting Type: Annual Record Date: MAR 6, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Ronald L. Havner, Jr For For Management 1.2 Elect Director Joseph D. Russell, Jr. For For Management 1.3 Elect Director R. Wesley Burns For For Management 1.4 Elect Director Jennifer H. Dunbar For For Management 1.5 Elect Director Arthur M. Friedman For For Management 1.6 Elect Director James H. Kropp For For Management 1.7 Elect Director Harvey Lenkin For For Management 1.8 Elect Director Michael V. McGee For For Management 1.9 Elect Director Alan K. Pribble For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- PUBLIC STORAGE Ticker: PSA Security ID: 74460D109 Meeting Date: MAY 7, 2009 Meeting Type: Annual Record Date: MAR 9, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Trustee B. Wayne Hughes For For Management 1.2 Elect Trustee Ronald L. Havner, Jr. For For Management 1.3 Elect Trustee Dann V. Angeloff For For Management 1.4 Elect Trustee William C. Baker For For Management 1.5 Elect Trustee John T. Evans For For Management 1.6 Elect Director Tamara Hughes Gustavson For For Management 1.7 Elect Trustee Uri P. Harkham For For Management 1.8 Elect Trustee B. Wayne Hughes, Jr For For Management 1.9 Elect Director Harvey Lenkin For For Management 1.10 Elect Trustee Gary E. Pruitt For For Management 1.11 Elect Trustee Daniel C. Staton For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- RAMCO-GERSHENSON PROPERTIES TRUST Ticker: RPT Security ID: 751452202 Meeting Date: JUN 10, 2009 Meeting Type: Annual Record Date: APR 15, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Stephen R. Blank For Withhold Management 1.2 Elect Director Joel M. Pashcow For Withhold Management 1.3 Elect Director Matthew L. Ostrower For For Management 1.4 Elect Director David J. Nettina For For Management 2 Ratify Auditors For For Management 3 Approve Omnibus Stock Plan For For Management - -------------------------------------------------------------------------------- REGENCY CENTERS CORP. Ticker: REG Security ID: 758849103 Meeting Date: MAY 5, 2009 Meeting Type: Annual Record Date: FEB 24, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Martin E. Stein, Jr. For For Management 1.2 Elect Director Raymond L. Bank For For Management 1.3 Elect Director C. Ronald Blankenship For For Management 1.4 Elect Director A. R. Carpenter For For Management 1.5 Elect Director J. Dix Druce For For Management 1.6 Elect Director Mary Lou Fiala For For Management 1.7 Elect Director Bruce M. Johnson For For Management 1.8 Elect Director Douglas S. Luke For For Management 1.9 Elect Director John C. Schweitzer For For Management 1.10 Elect Director Brian M. Smith For For Management 1.11 Elect Director Thomas G. Wattles For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- SENIOR HOUSING PROPERTIES TRUST Ticker: SNH Security ID: 81721M109 Meeting Date: MAY 18, 2009 Meeting Type: Annual Record Date: MAR 17, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Jeffrey P. Somers For For Management 1.2 Elect Director Barry M. Portnoy For For Management - -------------------------------------------------------------------------------- SIMON PROPERTY GROUP, INC. Ticker: SPG Security ID: 828806109 Meeting Date: MAY 8, 2009 Meeting Type: Annual Record Date: MAR 9, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve Increase in Size of Board For For Management 2 Reduce Supermajority Vote Requirement For For Management 3 Increase Authorized Common Stock For For Management 4 Amend Charter to Delete Obsolete or For For Management Unnecessary Provisions 5.1 Elect Director Melvyn E. Bergstein For For Management 5.2 Elect Director Linda Walker Bynoe For For Management 5.3 Elect Director Karen N. Horn For For Management 5.4 Elect Director Reuben S. Leibowitz For For Management 5.5 Elect Director J. Albert Smith, Jr. For For Management 5.6 Elect Director Pieter S. van den Berg For For Management 5.7 Elect Director Allan Hubbard For For Management 5.8 Elect Director Daniel C. Smith For For Management 6 Adjourn Meeting For For Management 7 Ratify Auditors For For Management - -------------------------------------------------------------------------------- SOVRAN SELF STORAGE, INC. Ticker: SSS Security ID: 84610H108 Meeting Date: MAY 21, 2009 Meeting Type: Annual Record Date: MAR 24, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert J. Attea For For Management 1.2 Elect Director Kenneth F. Myszka For For Management 1.3 Elect Director John E. Burns For For Management 1.4 Elect Director Anthony P. Gammie For For Management 1.5 Elect Director Charles E. Lannon For For Management 1.6 Elect Director James R. Boldt For For Management 2 Approve Non-Employee Director Omnibus For For Management Stock Plan 3 Ratify Auditors For For Management - -------------------------------------------------------------------------------- STARWOOD HOTELS & RESORTS WORLDWIDE, INC. Ticker: HOT Security ID: 85590A401 Meeting Date: MAY 6, 2009 Meeting Type: Annual Record Date: MAR 12, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Adam M. Aron For For Management 1.2 Elect Director Charlene Barshefsky For For Management 1.3 Elect Director Thomas E. Clarke For For Management 1.4 Elect Director Clayton C. Daley, Jr. For For Management 1.5 Elect Director Bruce W. Duncan For For Management 1.6 Elect Director Lizanne Galbreath For For Management 1.7 Elect Director Eric Hippeau For For Management 1.8 Elect Director Stephen R. Quazzo For For Management 1.9 Elect Director Thomas O. Ryder For For Management 1.10 Elect Director Frits van Paasschen For For Management 1.11 Elect Director Kneeland C. Youngblood For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- STRATEGIC HOTELS & RESORTS INC Ticker: BEE Security ID: 86272T106 Meeting Date: JUN 5, 2009 Meeting Type: Annual Record Date: MAR 25, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Robert P. Bowen For Withhold Management 1.2 Elect Director Kenneth Fisher For Withhold Management 1.3 Elect Director Laurence S. Geller For Withhold Management 1.4 Elect Director James A. Jeffs For Withhold Management 1.5 Elect Director Richard D. Kincaid For For Management 1.6 Elect Director David M.C. Michels For Withhold Management 1.7 Elect Director William A. Prezant For Withhold Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- TAUBMAN CENTERS, INC. Ticker: TCO Security ID: 876664103 Meeting Date: MAY 29, 2009 Meeting Type: Annual Record Date: MAR 31, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Graham T. Allison For For Management 1.2 Elect Director Peter Karmanos, Jr. For For Management 1.3 Elect Director William S. Taubman For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- VENTAS, INC. Ticker: VTR Security ID: 92276F100 Meeting Date: MAY 7, 2009 Meeting Type: Annual Record Date: MAR 16, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Debra A. Cafaro For For Management 1.2 Elect Director Douglas Crocker II For For Management 1.3 Elect Director Ronald G. Geary For For Management 1.4 Elect Director Jay M. Gellert For For Management 1.5 Elect Director Robert D. Reed For For Management 1.6 Elect Director Sheli Z. Rosenberg For For Management 1.7 Elect Director James D. Shelton For For Management 1.8 Elect Director Thomas C. Theobald For For Management 2 Ratify Auditors For For Management - -------------------------------------------------------------------------------- VORNADO REALTY TRUST Ticker: VNO Security ID: 929042109 Meeting Date: MAY 14, 2009 Meeting Type: Annual Record Date: MAR 13, 2009 # Proposal Mgt Rec Vote Cast Sponsor 1.1 Elect Director Steven Roth For For Management 1.2 Elect Director Michael D. Fascitelli For For Management 1.3 Elect Director Russell B. Wight, Jr. For For Management 2 Ratify Auditors For For Management 3 Require a Majority Vote for the Against For Shareholder Election of Directors 4 Require Independent Board Chairman Against Against Shareholder ========== END NPX REPORT SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant): Morgan Stanley Real Estate Fund By (Signature and Title)* /s/ Randy Takian ---------------------------------------- Randy Takian President and Principal Executive Officer - Office of the Funds Date August 28, 2009 * Print the name and title of each signing officer under his or her signature.