CLIENT LIST

Alecta Investment Management
AMB Property Corporation
Culligan Management Company
Ellis Partners LLC
Emerald Fund
H.J. Friedman Corp.
Independent Holdings
James Campbell Company LLC
JVA Properties
L&B Realty Advisors
Louis W. DeMartini & Associates, Inc.
Mielke-Tellefsen Investments
Northwestern Mutual Life Insurance Company
PCX Development
R.T. Nahas Company
Rawson, Blum & Leon
Regents of the University of California
Shorenstein Company
SPI Holdings
Stone, Troger, Allen
Stone Bros. & Associates
The Lalanne Group
The RREEF Funds