# EDGAR Filing Document

**Accession Number:** 0001046187
**File Stem:** 0001104659-25-084405
**Filing Date:** 2025-8
**Character Count:** 32997
**Document Hash:** 8a7bfc9bea21674912882e614e20b254
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-084405.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001104659-25-084405

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**EFFECTIVENESS DATE**: 20250828

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AEW CAPITAL MANAGEMENT L P
- **CENTRAL INDEX KEY:** 0001046187

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06538
- **FILM NUMBER:** 251268538

**BUSINESS ADDRESS:**
- **STREET 1:** TWO SEAPORT LANE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210-2021
- **BUSINESS PHONE:** 6172629324

**MAIL ADDRESS:**
- **STREET 1:** TWO SEAPORT LANE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210-2021

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AEW CAPITAL MANAGEMENT L P/MA
- **DATE OF NAME CHANGE:** 19990325

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001046187

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** AEW CAPITAL MANAGEMENT L P

**Address:** Two Seaport Lane, Boston, MA 02210-2021

**Telephone number:** 617-261-9000

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-06538

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 3B5ZL2FZXBHXIJJQRR52

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 1

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                              | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                                                                            | VOTE CATEGORY                |     SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Agree Realty Corporation                    | 008492100 | 05/15/2025     | To approve, by non-binding vote, executive compensation.                                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |    400           |                0 | FOR         |                            400           | FOR                         |  |
| Alexandria Real Estate Equities, Inc.       | 015271109 | 05/13/2025     | To cast a non-binding, advisory vote on a resolution to approve the compensation of the Company's named executive officers, as more particularly described in the accompanying Proxy Statement.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |  25810           |                0 | AGAINST     |                          25810           | AGAINST                     |  |
| American Homes 4 Rent                       | 02665T306 | 05/07/2025     | Advisory Vote to Approve American Homes 4 Rent's Named Executive Officer Compensation.                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.015e+06   |                0 | FOR         |                              1.015e+06   | FOR                         |  |
| Apartment Investment and Management Company | 03748R747 | 06/10/2025     | To conduct an advisory vote on executive compensation.                                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.36507e+06 |                0 | FOR         |                              1.36507e+06 | FOR                         |  |
| AvalonBay Communities, Inc.                 | 053484101 | 05/21/2025     | To adopt a resolution approving, on a non-binding advisory basis, the compensation paid to the Company's Named Executive Officers, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and any related material disclosed in the proxy statement.                                                  | SECTION 14A SAY-ON-PAY VOTES | 396334           |                0 | FOR         |                         396334           | FOR                         |  |
| Brixmor Property Group Inc.                 | 11120U105 | 04/23/2025     | To approve, on a non-binding advisory basis, the compensation paid to our named executive officers.                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.43464e+06 |                0 | FOR         |                              1.43464e+06 | FOR                         |  |
| Broadstone Net Lease, Inc.                  | 11135E203 | 05/01/2025     | To approve, in a non-binding advisory vote, the compensation of the Company's named executive officers as described in the Company's 2025 proxy statement.                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |      2.59849e+06 |                0 | FOR         |                              2.59849e+06 | FOR                         |  |
| Camden Property Trust                       | 133131102 | 05/09/2025     | Approval, by an advisory vote, of executive compensation.                                                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  98675           |                0 | FOR         |                          98675           | FOR                         |  |
| CareTrust REIT, Inc.                        | 14174T107 | 04/29/2025     | Approval, on an advisory basis, of the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 667471           |                0 | FOR         |                         667471           | FOR                         |  |
| CubeSmart                                   | 229663109 | 05/20/2025     | To cast an advisory vote to approve our executive compensation.                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |    400           |                0 | FOR         |                            400           | FOR                         |  |
| Digital Realty Trust, Inc.                  | 253868103 | 06/06/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers, as more fully described in the accompanying Proxy Statement (Say-on-Pay).                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 712496           |                0 | FOR         |                         712496           | FOR                         |  |
| EastGroup Properties Inc.                   | 277276101 | 05/22/2025     | To approve, by a non-binding, advisory vote, the compensation of the Company's Named Executive Officers as described in the Company's definitive proxy statement.                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  70739           |                0 | FOR         |                          70739           | FOR                         |  |
| Equinix, Inc.                               | 29444U700 | 05/21/2025     | Approval, by a non-binding advisory vote, of the compensation of our named executive officers                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 182352           |                0 | FOR         |                         182352           | FOR                         |  |
| Equity LifeStyle Properties, Inc.           | 29472R108 | 04/29/2025     | Approval on a non-binding, advisory basis of our executive compensation as disclosed in the Proxy Statement.                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |  42513           |                0 | FOR         |                          42513           | FOR                         |  |
| Equity Residential                          | 29476L107 | 06/26/2025     | Approval of Executive Compensation.                                                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 201931           |                0 | FOR         |                         201931           | FOR                         |  |
| Essex Property Trust, Inc.                  | 297178105 | 05/13/2025     | Advisory vote to approve the Company's named executive officer compensation.                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |  33401           |                0 | FOR         |                          33401           | FOR                         |  |
| Extra Space Storage Inc.                    | 30225T102 | 05/21/2025     | Advisory vote on the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 149379           |                0 | FOR         |                         149379           | FOR                         |  |
| Gaming And Leisure Properties, Inc.         | 36467J108 | 06/12/2025     | To approve, on a non-binding advisory basis, the Company's executive compensation.                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 708762           |                0 | FOR         |                         708762           | FOR                         |  |
| Global Medical REIT Inc.                    | 37954A204 | 05/14/2025     | Advisory vote to approve the compensation of the Company's named executive officers as described in the accompanying Proxy Statement.                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  29820           |                0 | FOR         |                          29820           | FOR                         |  |
| Healthcare Realty Trust Incorporated        | 42226K105 | 05/20/2025     | To approve, on a non-binding advisory basis, the following resolution: RESOLVED, that the stockholders of Healthcare Realty Trust Incorporated approve, on a non-binding advisory basis, the compensation of the Named Executive Officers as disclosed pursuant to Item 402 of Regulation S-K in the Company s proxy statement for the 2025 Annual Meeting of Stockholders. | SECTION 14A SAY-ON-PAY VOTES | 813710           |                0 | FOR         |                         813710           | FOR                         |  |
| Healthpeak Properties, Inc.                 | 42250P103 | 04/24/2025     | Approval Of 2024 Executive Compensation On An Advisory Basis.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 117479           |                0 | FOR         |                         117479           | FOR                         |  |
| Highwoods Properties, Inc.                  | 431284108 | 05/13/2025     | Advisory Vote On Executive Compensation.                                                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 932280           |                0 | FOR         |                         932280           | FOR                         |  |
| Independence Realty Trust, Inc.             | 45378A106 | 05/14/2025     | The Board of Directors recommends: a vote FOR the advisory, non-binding resolution to approve the Company's executive compensation.                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.6384e+06  |                0 | FOR         |                              1.6384e+06  | FOR                         |  |
| Invitation Homes Inc.                       | 46187W107 | 05/15/2025     | To approve, in a non-binding advisory vote, the compensation paid to our named executive officers.                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 361395           |                0 | FOR         |                         361395           | FOR                         |  |
| Invitation Homes Inc.                       | 46187W107 | 05/15/2025     | To determine, in a non-binding advisory vote, the frequency of stockholder votes to approve executive compensation.                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 361395           |                0 | 1 YEAR      |                         361395           | FOR                         |  |
| Iron Mountain Incorporated                  | 46284V101 | 05/29/2025     | The approval of a non-binding, advisory resolution approving the compensation of our named executive officers as described in the Iron Mountain Incorporated Proxy Statement.                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 570297           |                0 | FOR         |                         570297           | FOR                         |  |
| Kilroy Realty Corporation                   | 49427F108 | 05/20/2025     | Approval, on an advisory basis, of the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 345081           |            55617 | FOR         |                         345081           | FOR                         |  |
| Kite Realty Group Trust                     | 49803T300 | 05/16/2025     | To approve, on an advisory (non-binding) basis, the compensation of Kite Realty Group Trust's named executive officers.                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 903568           |                0 | FOR         |                         903568           | FOR                         |  |
| Lineage, Inc.                               | 53566V106 | 06/18/2025     | Advisory (non-binding) approval of the compensation of our named executive officers.                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |    300           |                0 | AGAINST     |                            300           | AGAINST                     |  |
| Lineage, Inc.                               | 53566V106 | 06/18/2025     | Advisory (non-binding) approval of the frequency of future advisory votes on the compensation of our named executive officers.                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |    300           |                0 | 1 YEAR      |                            300           | FOR                         |  |
| LXP Industrial Trust                        | 529043101 | 05/27/2025     | To consider and vote upon an advisory, non-binding resolution to approve the compensation of the named executive officers, as disclosed in the accompanying proxy statement;                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |      4.71129e+06 |                0 | FOR         |                              4.71129e+06 | FOR                         |  |
| Mid-America Apartment Communities, Inc.     | 59522J103 | 05/20/2025     | Advisory (non-binding) vote to approve the compensation of our named executive officers as disclosed in the proxy statement.                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 463734           |                0 | FOR         |                         463734           | FOR                         |  |
| Phillips Edison  Company, Inc.              | 71844V201 | 05/01/2025     | Approve a non-binding, advisory resolution on executive compensation as more fully described in the proxy statement for the annual meeting.                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 442619           |                0 | FOR         |                         442619           | FOR                         |  |
| Prologis, Inc.                              | 74340W103 | 05/08/2025     | Advisory Vote to Approve the Company's Executive Compensation for 2024.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |      1.55618e+06 |                0 | FOR         |                              1.55618e+06 | FOR                         |  |
| Public Storage                              | 74460D109 | 05/07/2025     | Advisory vote to approve the compensation of the Company's Named Executive Officers.                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES | 371830           |                0 | FOR         |                         371830           | FOR                         |  |
| Realty Income Corporation                   | 756109104 | 05/13/2025     | A non-binding advisory proposal to approve the compensation of our named executive officers as described in the Proxy Statement.                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |      1.21484e+06 |                0 | AGAINST     |                              1.21484e+06 | AGAINST                     |  |
| Regency Centers Corporation                 | 758849103 | 05/07/2025     | Approval, in an advisory vote, of the Company's executive compensation.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |   1800           |                0 | FOR         |                           1800           | FOR                         |  |
| Ryman Hospitality Properties, Inc.          | 78377T107 | 05/08/2025     | To approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 161196           |                0 | FOR         |                         161196           | FOR                         |  |
| Simon Property Group, Inc.                  | 828806109 | 05/14/2025     | Advisory Vote to Approve the Compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 219500           |                0 | FOR         |                         219500           | FOR                         |  |
| STAG Industrial, Inc.                       | 85254J102 | 04/28/2025     | The approval, by non-binding vote, of executive compensation.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |   3200           |                0 | FOR         |                           3200           | FOR                         |  |
| Sun Communities, Inc.                       | 866674104 | 05/13/2025     | To approve, by a non-binding advisory vote, executive compensation.                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 117590           |                0 | FOR         |                         117590           | FOR                         |  |
| Tanger Inc.                                 | 875465106 | 05/09/2025     | To approve, on an advisory (non-binding) basis, named executive officer compensation.                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |   2800           |                0 | FOR         |                           2800           | FOR                         |  |
| The Macerich Company                        | 554382101 | 06/02/2025     | Advisory vote to approve our named executive officer compensation as described in our Proxy Statement.                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.56118e+06 |                0 | FOR         |                              1.56118e+06 | FOR                         |  |
| UDR, Inc.                                   | 902653104 | 05/15/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 135688           |                0 | FOR         |                         135688           | FOR                         |  |
| Ventas, Inc.                                | 92276F100 | 05/13/2025     | Approval, on an advisory basis, of the compensation of named executive officers of Ventas, Inc.                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 686716           |            72890 | FOR         |                         686716           | FOR                         |  |
| VICI Properties Inc.                        | 925652109 | 04/29/2025     | To approve (on a non-binding, advisory basis) the compensation of our named executive officers.                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 179030           |                0 | FOR         |                         179030           | FOR                         |  |
| Vornado Realty Trust                        | 929042109 | 05/22/2025     | Non-binding, advisory resolution on executive compensation.                                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 404735           |            23025 | AGAINST     |                         404735           | AGAINST                     |  |
| W.P. Carey Inc.                             | 92936U109 | 06/12/2025     | To Approve the Advisory Resolution on Executive Compensation.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 139640           |                0 | FOR         |                         139640           | FOR                         |  |
| Welltower Inc.                              | 95040Q104 | 05/22/2025     | The approval, on an advisory basis, of the compensation of the named executive officers.                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      1.17728e+06 |                0 | FOR         |                              1.17728e+06 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** AEW CAPITAL MANAGEMENT L P

**By (Signature):** Carrie A. Bellerby

**By (Printed Signature):** Carrie A. Bellerby

**By (Title):** Clerk of the General Partner of AEW Capital Management, L P

**Date:** 08/27/2025