Global & U.S. Opportunity Funds	Vintage Date	Fund Size (millions)
AREA Real Estate Investment Fund, L.P.	Jun 1993	$500
AREA Real Estate Investment Fund II, L.P.	May 1996	$571
AREA Real Estate Investment Fund III, L.P.	Nov 1997	$1,050
AREA Real Estate Investment Fund IV, L.P.	Jan 1999	$1,090
AREA Real Estate Investment Fund V, L.P.	Jan 2005	$700
AREA Real Estate Opportunity Fund VI	Jun 2011	$518
Subtotal		$4,429 million

Europe & India Opportunity Funds	Vintage Date	Fund Size (millions)
AREA International Real Estate Investment Fund, L.P.	Dec 2001	$336
AREA European Real Estate Fund II, L.P.	Dec 2004	$600
Sun-Apollo India Real Estate Fund, L.L.C.	May 2006	$630
AREA European Real Estate Fund III, L.P.	Jul 2008	$1,376
Subtotal		$2,942 million

Debt Funds	Vintage Date	Fund Size (millions)
AREA-GMAC Real Estate Mezzanine Fund, LP	May 2004	$108
AREA Real Estate Finance Corporation	Sep 2006	$932
Subtotal		$1,040 million

Value Added Funds	Vintage Date	Fund Size (millions)
Value Enhancement Fund, L.P.	Sep 1993	$256
Value Enhancement Fund II, L.P.	Aug 1996	$187
Value Enhancement Fund III, L.P.	Apr 1998	$450
Value Enhancement Fund IV, L.P.	Dec 1999	$407
Value Enhancement Fund V, L.P.	Jun 2001	$334
Value Enhancement Fund VI, L.P.	Oct 2005	$276
AREA Value Enhancement Fund VII, L.P.	Jun 2008	$756
AREA Domestic Emerging Markets Fund, L.P.	Dec 2007	$485
Subtotal		$3,151 million

Institutional Joint Ventures & Co-Investments		$1,603 million

Grand Total		$13,165 million

* In 2004, AREA Property Partners acquired a majority interest in VEF Advisors, L.L.C.,
   which manages Value Enhancement Funds I-VI.