Client Listing by Region

New England

Abraham Properties, Inc.
         Boston, Massachusetts

Cabot Industrial Trust
         Boston, Massachusetts

Cornerstone Real Estate Advisors, LLC
         Hartford, Connecticut

Ferland Property Management
         Smithfield, Rhode Island

Franklin Street Properties
         Wakefield, Massachusetts

Meditrust
         Needham, Massachusetts

Northland Investment Corporation
         Newton, Massachusetts

R.J. Finlay & Co.
         Milford, New Hampshire

Rogerson Communities
         Boston, Massachusetts

RREEF Alternatives
         Boston, Massachusetts

S.R. Weiner and Associates
         Chestnut Hill, Massachusetts

Mid Atlantic

Allen & Rocks, Inc.
         Vienna, Virginia

Brown, Harris, Stevens, Inc.
         New York, New York

The Buccini/Pollin Group, Inc.
         Glendale, New York

Cathcart Property Management
         Charlottesville, Virginia

Clark Capital Realty
         Arlington, Virginia

Commonwealth Assisted Living
         Charlottesville, Virginia

Community Housing Management
         Elmsford, New York

Coventry Real Estate Advisors
         New York, New York

DRA Advisors, LLC
         New York, New York

Drucker and Falk
         Newport News, Virginia

EDGE Commercial Real Estate
         Tysons Corner, Virginia

Fairfax County Redevelopment and Housing Authority
         Fairfax, Virginia

First Washington Realty, Inc.
         Bethesda, Maryland

Grubb & Ellis Company
         Pittsburgh, Pennsylvania

The Hankin Group
         Exton, Pennsylvania

Horning Brothers
         Washington, DC

Housing Opportunities Commission of Montgomery County
         Kensington, Maryland

Keystone Property Trust
         West Conshohocken, Pennsylvania

Kuschner Companies
         New York, New York

Lehigh Gas Company
         Allentown, Pennsylvania

Lerner Corporation
         Rockville, Maryland

Lincoln Equities Group, LLC
         Rutherford, New Jersey

Lincoln Property Company
         Arlington, Virginia

Merritt Properties, Inc.
         Baltimore, Maryland

Municipal Capital Appreciation Partners
         New York, New York

Overland Capital Group
         Clifton Park, New York

The Peterson Companies
         Fairfax, Virginia

Realty Management Services
         Bethesda, Maryland

Riggs Bank, NA
         Washington, D.C.

RLJ Loding Trust
         Bethesda, Maryland

The Rouse Company
         Columbia, Maryland

The Shelter Group
         Baltimore, Maryland

Tishman Speyer
         New York, New York

South Atlantic

The Adler Group
         Miami, Florida

Carter
         Atlanta, Georgia

Charlotte Housing Authority
         Charlotte, North Carolina

Concord Management Limited
         Maitland, Florida

Fifteen Group
         Miami Beach, Florida

Grupo Zocalo
         Miami Lakes, Florida

Hawthorne Retail Partners
         Charlotte, North Carolina

IRT Property Company
         Atlanta, Georgia

Jacksonville Housing Authority
         Jacksonville, Florida

J.I. Kislak
         Miami Lakes, Florida

Lakeland Housing Authority
         Lakeland, Florida

Loeb Properties
         Memphis, Tennessee

Metropolitan Development
         Nashville, Tennessee

Paradigm Properties
         Gainesville, Florida

Retirement Systems of Alabama
         Montgomery, Alabama

Starmount Company
         Greensboro, North Carolina

Tanger Factory Outlet Centers, Inc.
         Greensboro, North Carolina

The Woodruff Companies
         Columbus, Georgia

WRH Realty Services
         St. Petersburg, Florida

Pacific Northwest

Ball Ventures
         Idaho Falls, Idaho

Bremerton Housing Authority
         Bremerton, Washington

Cook Inlet Housing Authority
         Anchorage, Alaska

Kennedy Associates Real Estate Counsel, LP
         Seattle, Washington

Hawkins Smith
         Boise, Idaho

Housing Authority of Portland
         Portland, Oregon

Housing Authority of Yamhill County
         McMinnville, Oregon

Pinnacle Realty Management
         Seattle, Washington

Pacific

3D Investments
         Beverly Hills, California

AMB Property Corporation
         San Francisco, California

American Assets
         San Diego, California

Anchor Pacifica Group
         Pasadena, California

Arnel Management Company
         Pasadena, California

Bryan Industrial Properties
         Anaheim, California

Buchanan Street Partners
         Newport Beach, California

California Public Employees Retirement Systems
         Sacramento, California

Center Trust Retail Properties, Inc.
         Manhattan Beach, California

Certified Hawaii
         Honolulu, Hawaii

Housing Authority of the County of Contra Costa
         Martinez, California

DivcoWest Group, LLC
         Los Angeles, California

Donahue Schriber
         Newport Beach, California

E&S Ring Management
         Culver City, California

The Evergreen Company
         Sacramento, California

Excel Legacy
         San Diego, California

G & L Realty Corp.
         Beverly Hills, California

GMS Realty, LLC
         Carlsbad, California

H.G. Fenton Company
         San Diego, California

Housing Authority of the County of Clark
         Las Vegas, Nevada

Housing Authority of the County of Santa Barbara
         Lompoc, California

Investment Development Services, Inc.
         Los Angeles, California

Investors Management Trust Real Estate Group, Inc.
         Sherman Oaks, California

The Irvine Company
         Newport Beach, California

LBA Realty
         Newport Beach, California

Legacy Partners Residential
         Foster City, California

Lyon Management Group, Inc.
         Newport Beach, California

M&C Communities
         Stockton, California

Madison Marquette
         Irvine, California

McClellan Business Park
         McClellan, California

McMorgan and Company
         San Francisco, California

MD Atkinson Company, Inc.
         Bakersfield, California

Morlin Asset Management, LP
         Los Angeles, California

National Retail Partners
         San Diego, California

Nationwide Health Properties
         Newport Beach, California

Pan Pacific Retail Properties
         Vista, California

PM Realty Advisors
         Newport Beach, California

Retirement Housing Foundation
         Long Beach, California

San Diego Housing Authority
         Bremerton, Washington

Sares-Regis Group
         Irvine, California

Schirmer Ball Company
         Chandler, Arizona

Shuwa Investments, Inc.
         Los Angeles, California

Sunbay Executive Suites
         Seaside, California

Tower Management Company
         Pasadena, California

Trizec Hahn Centers
         San Diego, California

Uhlmann Offices, Inc.
         Sherman Oaks, California

Western National Group
         Irvine, California

WesTrust America
         Calabasas Hills, California

Vestar Development Company
         Phoenix, Arizona

Southwest

Adams County Housing Authority
         Commerce City, Colorado

AlbaneseCormier Holdings
         Beaumont, Texas

American Residential
         Denver, Colorado

Amerishop Real Estate
         Dallas, Texas

Amstar
         Denver, Colorado

Ancillary Management Group
         Frisco, Texas

Associa
         Dallas, Texas

Atlantic Housing Foundation
         Dallas, Texas

Baxter Southwest
         San Antonio, Texas

Behringer Harvard
         Addison, Texas

BH Management Services, Inc.
         Dallas, Texas

Billingsley Company
         Carrollton, Texas

Boston Avenue Management
         Tulsa, Oklahoma

Boulder Housing Partners
         Boulder, Colorado

Boxer Property
         Houston, Texas

The Boyer Company
         Salt Lake City, Utah

Bright Realty
         Dallas, Texas

Cambridge Medical
         Dallas, Texas

Cameron Management
         Houston, Texas

Capview Partners
         Dallas, Texas

Cardinal Paragon
         Dallas, Texas

Capstar Commercial Real Estate Services
         Dallas, Texas

Centaurus Investments
         Dallas, Texas

Centex Corporation
         Dallas, Texas

Champion Partners
         Dallas, Texas

Chateau Communities
         Englewood, Colorado

Churchill Forge
         San Antonio, Texas

Classified Parking Systems
         Dallas, Texas

Colliers Dickson Flake Partners
         Little Rock, Arkansas

Capstar Commercial Real Estate Services
         Dallas, Texas

Continuum Partners
         Lakewood, Colorado

Cooper and Stebbins
         Southlake, Texas

Cooper Realty Investments, Inc.
         Bella Vista, Arkansas

Cousins Stone
         Dallas, Texas

Coyote Management, LP
         Dallas, Texas

Ellis Partners Management Solutions
         Irving, Texas

Embrey Partners
         San Antonio, Texas

Engvest Management
         Richardson, Texas

Fairfield Residential
         Grand Prairie, Texas

FirstWorthing
         Dallas, Texas

General Properties
         North Little Rock, Arkansas

GF Properties Group
         Durango, Colorado

Greenway Investment Compnay
         Dallas, Texas

Griffin Partners
         Houston, Texas

Hartman Management
         Houston, Texas

Holt Lunsford Commercial
         Addison, Texas

Industrial Properties Corporation
         Irving, Texas

International Capital, Inc.
         Dallas, Texas

Internacional Realty
         San Antonio, Texas

JWC Property Management
         Killeen, Texas

Kennedy Wilson, Inc.
         Austin, Texas

Land Capital, Inc.
         Park City, Utah

Lincoln Harris CSG
         Dallas, Texas

Maylar, L.P.
         Dallas, Texas

Michael Stevens Interests
         Houston, Texas

Mila Properties
         Houston, Texas

N3 Real Estate
         Southlake, Texas

NAI Robert Lynn
         Dallas, Texas

National Community Development
         Greenwood Village, Colorado

New Plan Excel
         Houston, Texas

Pardue Asset Management
         Dallas, Texas

Peloton Real Estate Partners
         Dallas, Texas

Physicians' Capital Investments
         Plano, Texas

Pillar Commercial
         Dallas, Texas

Port San Antonio
         San Antonio, Texas

Premier Community Management
         Dallas, Texas

Prescott Realty Group
         Dallas, Texas

Price Edwards & Co.
         Oklahoma City, Oklahoma

Prime Asset Management
         Houston, Texas

Property Advisers Realty
         Irving, Texas

Quine & Associates
         Richardson, Texas

Rader Properties
         Dallas, Texas

Railhead Properties
         Fort Worth, Texas

Ranier Capital Management
         Dallas, Texas

RM Crowe
         Dallas, Texas

Roscoe Properties
         Austin, Texas

Rosebriar Holdings
         Dallas, Texas

RSF Partners
         Dallas, Texas

S C Companies
         Dallas, Texas

Sarofim Realty Advisors
         Dallas, Texas

Sealy & Company
         Shreveport, Louisianna

Shamrock Management
         Plano, Texas

Stream Realty Partners, L.P.
         Dallas, Texas

Sundance Square
         Fort Worth, Texas

Texas Home Improvement
         San Antonio, Texas

The Tabani Group
         Dallas, Texas

TIG Real Estate Services
         Dallas, Texas

The Tipton Group
         Plano, Texas

Trammell Crow Company
         Houston, Texas

Transwestern
         Houston, Texas

Trinco Real Estate Management
         Fayetteville, Arkansas

Twenty Twenty Properties
         Friendswood, Texas

UL Coleman
         Shreveport, Louisiana

United Equities, Inc.
         Bellaire, Texas

Urban America Advisors
         Addison, Texas

USAA Real Estate Company
         San Antonio, Texas

Verde Realty
         Houston, Texas

Wadsworth Development
         Draper, Utah

WAK Management
         Lewisville, Texas

Westdale Asset Management
         Dallas, Texas

Woodmark Real Estate Services
         Dallas, Texas

Yes! Communities
         Denver, Colorado

Mid West

Aegis Properties Corporation
         Chicago, Illinois

AIY Properties
         Independence, Ohio

Ashley Capital
         Chicago, Illinois

Beztak Properties
         Farmington Hills, Missouri

CAMCO, Inc.
         Chicago, Illinois

Capri Capital Advisors, LLC
         Chicago, Illinois

Cassidy Turley
         St. Louis, Missouri

CB Richard Ellis/Reichle-Klein
         Toldeo, Ohio

Cincinnati Metropolitan Housing Authority
         Cincinnati, Ohio

Colliers Turley Martin Tucker
         Clayton, Missouri

Commercial Horizons
         Green Bay, Wisconsin

Continental Properties Company, Inc.
         Menomonee Falls, Wisconsin

CWD Real Estate
         Grand Rapids, Michigan

Developers Diversified Realty Corp.
         Beachwood, Ohio

Don M. Casto Organization
         Columbus, Ohio

Draper and Kramer
         Chicago, Illinois

Eagle Realty Group
         Cincinnati, Ohio

Elevate Living
         Wayzata, Minnesota

The Fiore Companies
         Madison, Wisconsin

Friedman Real Estate Group, Inc.
         Farmington Hills, Michigan

Hammes Company
         Brookfield, Wisconsin

Heritage Development Company
         Chagrin Falls, Ohio

Housing Authority of St. Louis
         St. Louis, Missouri

Imperial Realty
         Chicago, Illinois

Interra Development
         Chicago, Illinois

Jacobson Management LLC
         Bingham Farms, Michigan

The Koman Group
         Creve Coeur, Missouri

Kroger Real Estate
         Cincinnati, Ohio

Lakefront Supportive Housing
         Chicago, Illinois

LANE4 Property Group
         Kansas City, Missouri

Laramar Group
         Chicago, Illinois

McGregor Interests
         Omaha, Nebraska

Nemer Properties
         Southfield, Michigan

Price Brothers
         Overland Park, Kansas

R&R Realty Group
         West Des Moines, Iowa

Sara Investment Real Estate, LLC
         Madison, Wisconsin

Siegel-Gallagher Management Company
         Milwaukee, Wisconsin

Silver Bay Property Corp.
         Minnetonka, Minnesota

Singh Management
         West Bloomfield, Michigan

Trilogy Real Estate Group
         Chicago, Illinois

Urban Land Interests
         Madison, Wisconsin

Wimmer Brothers
         Hales Corners, Wisconsin