| company | name | category |
| AREP, LLC | Ackah, Amachie K. | Research Sponsors |
| Campus Apartments, Inc. | Adelman, David | Sustaining Members |
| Lubert-Adler Management, Inc. | Adler, Dean S. | Research Sponsors |
| E II Capital Management | Adler, Richard | Sustaining Members |
| UDR | Alcock, Harry | Sustaining Members |
| Houlihan Lokey | Altman, Jeffrey | Sustaining Members |
| Longview Investments | Andersen, William M. | Sustaining Members |
| American Asset Corporation | Arco, Riprand Count | Research Sponsors |
| Lionstone Group, The | Arnold, Jr., Alan C. | Sustaining Members |
| Ashforth Company, The | Ashforth, III, Henry A. | Sustaining Members |
| Baupost Group, LLC, The | Azrack, Nick | Sustaining Members |
| Savills LLC | Baker, Jeffrey | Sustaining Members |
| Blank Rome, LLP | Becker Esq., Samuel H. | Sustaining Members |
| Paramount Group, Inc. | Behler, Albert P. | Research Sponsors |
| Colony Capital, LLC | Belford, David | Sustaining Members |
| ASB Capital Management, Inc. | Bellinger, Robert B. | Research Sponsors |
| Assurant Asset Management | Bintzer, William R. | Sustaining Members |
| Related Companies, LP, The | Blau, Jeff T. | Research Sponsors |
| KRE Group | Block, James | Sustaining Members |
| Fidelity Investments | Boerner, Holger | Sustaining Members |
| W. P. Carey Inc. | Bond, Trevor P. | Research Sponsors |
| American Land Fund | Brasfield, Kelley B. | Sustaining Members |
| Brause Realty Inc. | Brause, David A. | Research Sponsors |
| Macquarie Capital | Braxton, Alan R. | Sustaining Members |
| Urdang | Bridell, E. Todd | Research Sponsors |
| Goldstar Group, The | Brodsky, Michael | Sustaining Members |
| Buccini/Pollin Group, The | Buccini, Christopher | Sustaining Members |
| Bucksbaum Retail Properties | Bucksbaum, John | Research Sponsors |
| Howard Hughes Corporation, The | Bulmash, Mark G. | Sustaining Members |
| Saul Ewing LLP | Burg, Esq., Michael S. | Sustaining Members |
| Silverstein Properties, Inc. | Burger, Marty | Research Sponsors |
| Alex.Brown Realty, Inc. | Burton, Thomas R. | Sustaining Members |
| Clarion Partners | Carey, Edward L. | Sustaining Members |
| Blackstone Group, The | Chee, Christopher | Sustaining Members |
| Pacific Coast Capital Partners, LLC | Cho, Yon K. | Research Sponsors |
| Thackeray Partners | Chu, Joe | Sustaining Members |
| Berkeley Point Capital | Clarfield, Mitchell D. | Research Sponsors |
| UBS | Cohen, Ken | Sustaining Members |
| Studley | Colacino, Michael D. | Sustaining Members |
| PNC Bank | Coler, Andrew | Sustaining Members |
| Hines | Congdon, David J. | Sustaining Members |
| McCarthy Cook | Cook III, Edward W. | Research Sponsors |
| PREIT | Coradino, Joseph | Research Sponsors |
| Siguler Guff | Corl, James | Sustaining Members |
| Wells Fargo Bank | Cotter, William M. | Sustaining Members |
| AvalonBay Communities | Cox, Jonathan B. | Sustaining Members |
| Landmark Partners | Creed, Michelle | Sustaining Members |
| Amerimar Enterprises, Inc. | Cummins, Jon A. | Sustaining Members |
| Harvest Equities, Inc. | Curry, John J. | Sustaining Members |
| ONEX Real Estate Partners | Dana, Michael | Sustaining Members |
| NAI Earle Furman, LLC | Daniel, Thomas D. | Sustaining Members |
| Taconic Investment Partners LLC | Davis, Kevin | Sustaining Members |
| Antheus Capital | Devillers, Carla | Sustaining Members |
| Madison International Realty | Dickerman, Ronald M. | Research Sponsors |
| Kevin F. Donohoe Company, The | Donohoe, Kevin F. | Sustaining Members |
| Credit Suisse | Dyckman, Kinsey | Sustaining Members |
| Toll Brothers Commercial | Elliott, Charles L. | Sustaining Members |
| GEM Realty Capital, Inc. | Elrad, Michael A. | Research Sponsors |
| Vornado Realty Trust | Fascitelli, Michael D. | Research Sponsors |
| Resource Real Estate | Feldman, Alan F. | Sustaining Members |
| First American Title Insurance Company | Feldman, David J. | Sustaining Members |
| CBRE Clarion Securities | Ferguson, Ritson | Sustaining Members |
| CoreNet Global, Inc. | Fishbein, Daniel E. | Sustaining Members |
| A. Fisher Co., Inc. | Fisher, Alexander E. | Sustaining Members |
| Arnall Golden Gregory | Fisher, Scott A. | Sustaining Members |
| High Real Estate Group | Fitzgerald, Mark C. | Sustaining Members |
| Kingwest & Company | Fogler, Richard | Sustaining Members |
| Davidson Kempner Capital Management | Friedman, Avram | Sustaining Members |
| Abacus Capital Group LLC | Friedman, Benjamin | Sustaining Members |
| Galbreath & Company | Galbreath-Megrue, Lizanne | Research Sponsors |
| | Gamble, R. Bruce | Research Sponsors |
| Rockpoint Group LLC | Gelb, Keith B. | Sustaining Members |
| Hunt Realty Investments, Inc. | Gibson, Patricia | Sustaining Members |
| Aberdeen Asset Management | Giordano, Katherine Schmidt | Sustaining Members |
| Keystone Property Group | Glazer, William | Sustaining Members |
| Milestone Group, The | Goldberg, Jeffrey | Sustaining Members |
| LaSalle Advisors | Gordon, Ph. D., Jacques N. | Research Sponsors |
| Orrick, Herrington & Sutcliffe LLP | Gould, Esq., Rachel L. | Sustaining Members |
| Convergent Capital Partners | Govindaraju, Santosh | Sustaining Members |
| Firstrust Bank | Green, Richard J. | Sustaining Members |
| CBRE | Groch, James | Research Sponsors |
| H/2 Capital Partners LLC | Haber, Spencer | Research Sponsors |
| Hankin Group, The | Hankin, Robert | Sustaining Members |
| Liberty Property Trust | Hankowsky, William P. | Sustaining Members |
| Artemis Real Estate Partners | Harmon, Deborah L. | Sustaining Members |
| Equity Industrial Partners Corporation | Heafitz, Lewis | Research Sponsors |
| Helix Funds LLC | Helfand, David A. | Research Sponsors |
| RREEF Real Estate | Henderson, Todd | Sustaining Members |
| Berkadia | Higgins, Warren | Sustaining Members |
| Himmel + Meringoff Properties | Himmel, Leslie Wohlman | Sustaining Members |
| Oaktree Capital Management LLC | Hofmann, Philip A. | Sustaining Members |
| Fox Companies, The | Hovey, James W. | Sustaining Members |
| Hovnanian Enterprises Inc. | Hovnanian, Ara K. | Sustaining Members |
| Ellington Management Group | Huang, Leo | Sustaining Members |
| JBG Companies, The | Iker, James | Sustaining Members |
| HRS Management, LLC | Isikoff, Andrew | Research Sponsors |
| Greenberg Traurig, LLP | Ivanhoe Esq., Robert | Sustaining Members |
| Katten Muchin Rosenman LLP | Jagoda, Andrew | Sustaining Members |
| Goldman, Sachs & Company | Jonas, Andrew J. | Research Sponsors |
| Dechert LLP | Jones, Richard D. | Sustaining Members |
| SFG Capital | Kahn, Randi | Sustaining Members |
| Meadow Partners LLC | Kaplan, Jeffrey M. | Research Sponsors |
| | Karpf, Steven A. | Research Sponsors |
| Sherwood Equities, Inc. | Katz, Jeffrey | Research Sponsors |
| Gazit Group USA, Inc. | Katzman, Chaim | Research Sponsors |
| Arbor Commerical Mortgage LLC | Kaufman, Ivan | Research Sponsors |
| International Council of Shopping Centers | Kercheval, Michael | Research Sponsors |
| Long Pond Capital, LLC | Khoury, John | Sustaining Members |
| Morgan Stanley Real Estate | Klopp, John R. | Research Sponsors |
| Massey Knakal Realty Services | Knakal, Robert A. | Research Sponsors |
| Kohn Pedersen Fox Associates P. C. | Kohn, A. Eugene | Research Sponsors |
| Cushman & Wakefield Sonnenblick-Goldman LLC | Kohn, Steven A. | Sustaining Members |
| Korman Communities | Korman, Bradley J. | Sustaining Members |
| Korman Commercial Properties, Inc. | Korman, Leonard I. | Sustaining Members |
| Urdang Capital Management | Kranzdorf, Norman M. | Sustaining Members |
| Royal Abstract of New York, LLC | Kravet, Martin | Research Sponsors |
| European Hotels Corporation Ltd. | Landau, Martin R. | Sustaining Members |
| Stevens & Lee | Lane Jr. Esq., Robert D. | Sustaining Members |
| L&L Holding Company | Lapidus, Robert T. | Sustaining Members |
| Broadway Real Estate Partners, LLC | Lawlor, Scott J. | Sustaining Members |
| Dentons | Lazar, Evan Z. | Sustaining Members |
| Cantor Fitzgerald & Co. | Lehrman, Michael | Research Sponsors |
| Prudential Real Estate Investors | Liang Ph.D., Youguo | Sustaining Members |
| Island Capital Group | Lieber, Robert C. | Research Sponsors |
| Huntington National Bank, The | Locher, Vincent | Sustaining Members |
| Lazard Frères & Co. LLC | Lustig, Matthew J. | Research Sponsors |
| AREA Property Partners | Mack, Richard | Research Sponsors |
| Wells Fargo Commerical Mortgage Banking | Maher, Thomas J. | Sustaining Members |
| Eastdil Secured | March, Roy Hilton | Research Sponsors |
| Amerimar Realty Company | Marshall, David G. | Sustaining Members |
| Hunt Investment Management | Martin, William F. | Sustaining Members |
| SL Green Realty Corp. | Mathias, Andrew | Sustaining Members |
| Mericle Commercial Real Estate Services | Mericle, Robert K. | Research Sponsors |
| Greenberg Traurig, LLP | Miller, Peter | Sustaining Members |
| Edward J. Minskoff Equities, Inc. | Minskoff, Edward J. | Sustaining Members |
| Mid-America Management Corporation, The | Misencik, Mark S. | Sustaining Members |
| JSRE LLC | Montague, Steven | Research Sponsors |
| Morgan Properties | Morgan, Mitchell L. | Research Sponsors |
| CTPartners | Nass, Martin D. | Sustaining Members |
| Equity Residential | Neithercut, David J. | Sustaining Members |
| Kramer Levin Naftalis & Frankel LLP | Neveloff, Esq., Jay A. | Sustaining Members |
| High Rise Capital Management L.P. | O'Connor, David P. | Research Sponsors |
| Gemini Real Estate Advisors | Obeid, Will | Sustaining Members |
| Och-Ziff Real Estate | Orbuch , Steven | Sustaining Members |
| Apollo Global Management | Packard, Coburn | Sustaining Members |
| Pantzer Properties, Inc. | Pantzer, Edward S. | Sustaining Members |
| Circle Management Company | Pedas, Theodore | Sustaining Members |
| CarVal Investors | Perry, Robert P. | Sustaining Members |
| Post Commercial Real Estate | Pestronk, Matthew | Sustaining Members |
| Alvarez & Marsal Real Estate Advisory Services, LLC | Pietroforte, Gerald | Sustaining Members |
| Capital Trust | Plavin, Stephen D. | Research Sponsors |
| BPG Properties, Ltd | Pogarsky, Steve | Sustaining Members |
| DLA Piper | Polevoy, Martin D. | Sustaining Members |
| Alliance Partners | Previdi, Richard | Sustaining Members |
| Walton Street Capital, LLC | Quicksilver, Jeffrey S. | Sustaining Members |
| Kayne Anderson Real Estate Advisors | Rabil, Albert | Research Sponsors |
| Centerbridge Partners | Rahm, William | Sustaining Members |
| Forest City Enterprises, Inc. | Ratner, Bruce C. | Research Sponsors |
| Orchard Commercial | Renfro, Byron | Sustaining Members |
| Pilot Real Estate Group | Rieger, Robert J. | Sustaining Members |
| DLJ Real Estate Capital Partners, LLC | Rifkin, Andrew | Sustaining Members |
| International Financial Co., LLC | Rodin, Neal I | Sustaining Members |
| Law Office of Michael Rosenblum | Rosenblum, Micahel | Sustaining Members |
| Criterion Real Estate Capital | Rosenzweig, Chuck | Sustaining Members |
| Ernst & Young LLP | Roth, Howard S. | Sustaining Members |
| Tishman Realty Corporation | Rothenberg, David | Sustaining Members |
| Ruben Companies | Ruben, Richard | Sustaining Members |
| Rubenstein Partners | Rubenstein, David B. | Sustaining Members |
| Vantage Properties, LLC | Rubler, Neil L. | Research Sponsors |
| Ken Ruby Construction Co. | Ruby, Kenneth A. | Sustaining Members |
| Acta Realty Corp | Saegh, A. Sam | Sustaining Members |
| Cedar Realty Trust | Schanzer, Bruce J. | Sustaining Members |
| Bulfinch Companies, Inc., The | Schlager, Eric D | Research Sponsors |
| Rockwood Capital Corporation | Schmidt, Walter P. | Sustaining Members |
| FTI Consulting, Inc. | Schonbraun, Bruce S | Sustaining Members |
| Angelo Gordon & Company | Schwartz, Adam R. | Research Sponsors |
| Martin Selig Real Estate | Selig, Martin | Sustaining Members |
| Hersha Hospitality Trust | Shah, Neil H. | Research Sponsors |
| Flagship Properties LLC | Shah, Ronak D. | Sustaining Members |
| Galt Group | Sharples, James P. | Sustaining Members |
| MSC Capital | Sholem, Barry | Sustaining Members |
| Shorenstein Company | Shorenstein, Douglas W. | Research Sponsors |
| Belvedere Capital | Siegel, Glen B. | Sustaining Members |
| | Silfen, Adam Gordon | Sustaining Members |
| Andalex Group, The | Silverman, Allen | Sustaining Members |
| Cozen O'Connor | Silverman, Esq., Robert A. | Sustaining Members |
| Simon Property Group | Simon, David | Research Sponsors |
| American Residential Partners | Sinatra, Nicholas | Sustaining Members |
| Ballard Spahr LLP | Sklaroff, Esq., Michael | Sustaining Members |
| Studley | Smith, H. Hetherington | Sustaining Members |
| Akerman Senterfitt | Smulian Esq, Andrew M. | Sustaining Members |
| Square Mile Capital Management LLC | Solomon, Craig H. | Sustaining Members |
| Arden Group, The | Spencer, Craig A. | Sustaining Members |
| American Life Inc | Steinhauer, Gregory L. | Sustaining Members |
| Morgan Lewis & Bockius LLP | Stern, Esq., Eric L. | Sustaining Members |
| Starwood Capital Group | Sternlicht, Barry S. | Research Sponsors |
| Argosy Real Estate | Stewart, Andrew | Sustaining Members |
| Stoltz Real Estate Partners | Stoltz, Keith D. | Research Sponsors |
| Storm Partners, LLC | Storm, Joyce | Sustaining Members |
| Brandywine Realty Trust | Sweeney, Gerard H. | Sustaining Members |
| Brookfield Asset Management | Szin, Ariel | Sustaining Members |
| Starwood Capital Group | Tash, Carl B. | Research Sponsors |
| Taubman Company, The | Taubman, A. Alfred | Sustaining Members |
| Taubman Company, The | Taubman, Robert S. | Sustaining Members |
| First Niagara Bank | Terlizzi, Christophe | Sustaining Members |
| McGuyer Homebuilders, Inc. | Tesch, Gary R. | Sustaining Members |
| Kirkland & Ellis LLP | Tomlinson, Stephen G. | Sustaining Members |
| Skidmore, Owings & Merrill LLP | Tomlinson II, Richard F. | Research Sponsors |
| GoldenTree InSite Partners | Vahradian, Robert K. | Sustaining Members |
| Hillwood | Vicente, Robert | Sustaining Members |
| Two Trees Management Co., LLC | Walentas, Jed | Research Sponsors |
| Jamestown Properties | Wechter, Josh | Sustaining Members |
| WP Realty, Inc. | Weingarten, Bryan S. | Research Sponsors |
| Normandy Real Estate Partners | Welsh, David | Sustaining Members |
| Prima Capital Advisors, LLC | White, Gregory A. | Sustaining Members |
| Harvard Management Company | Wickremage, Kavindi | Sustaining Members |
| Susquehanna Holdings Company, Ltd | Wideman, Edmund | Sustaining Members |
| Arbor | Wisniewski, Michael B. | Sustaining Members |
| ElmTree Funds | Yiu, Joseph | Sustaining Members |
| Xander Group, The | Yog, Sid | Sustaining Members |
| Outlet Partners LLC | Zalaznick, Bruce | Sustaining Members |
| Samuel Zell Foundation | Zell, Samuel | Research Sponsors |
| Ackman-Ziff Real Estate Group LLC, The | Ziff, Simon | Sustaining Members |
| AVP Advisors | Ziman, Richard S. | Sustaining Members |