# EDGAR Filing Document

**Accession Number:** 0001033984
**File Stem:** 0001033984-25-000017
**Filing Date:** 2025-8
**Character Count:** 63983
**Document Hash:** 10f55393d2faff8e39b3a2730c62cf0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001033984-25-000017.hdr.sgml**: 20250806

**ACCESSION NUMBER**: 0001033984-25-000017

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250806

**EFFECTIVENESS DATE**: 20250806

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC
- **CENTRAL INDEX KEY:** 0001033984

**ORGANIZATION NAME:**
- **EIN:** 232802869
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06044
- **FILM NUMBER:** 251188834

**BUSINESS ADDRESS:**
- **STREET 1:** 555 EAST LANCASTER AVENUE
- **STREET 2:** SUITE 120
- **CITY:** RADNOR
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 6109958900

**MAIL ADDRESS:**
- **STREET 1:** 555 EAST LANCASTER AVENUE
- **STREET 2:** SUITE 120
- **CITY:** RADNOR
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CBRE CLARION SECURITIES LLC
- **DATE OF NAME CHANGE:** 20110815

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING CLARION REAL ESTATE SECURITIES LLC
- **DATE OF NAME CHANGE:** 20090522

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING CLARION REAL ESTATE SECURITIES/N L.P.
- **DATE OF NAME CHANGE:** 20050812

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

## N-PX: Filer Information

**Filer CIK:** 0001033984

**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:** CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC

**Address:** 555 EAST LANCASTER AVENUE, RADNOR, PA 19087

**Telephone number:** 610-995-8900

**Name of agent for service:** —

**Agent Address:** —, —, — —

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

**SEC File Number:** 028-06044

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** ZLNWJ4DL5ILHESCV3X63

**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:** 0

**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   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| ALLETE, Inc.                                | 018522300 | 08/21/2024     | To approve, on a nonbinding, advisory basis, the compensation that will or may become payable by the Company to our named executive officers in connection with the Merger; and                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 530432           |                0 | FOR         | 530432.000000                            | FOR                         |  |
| Atmos Energy Corporation                    | 049560105 | 02/05/2025     | Proposal for an advisory vote by shareholders to approve the compensation of the Company's named executive officers for fiscal 2024 ("Say-on-Pay").                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 328128           |            99828 | FOR         | 328128.000000                            | FOR                         |  |
| Retail Opportunity Investments Corp.        | 76131N101 | 02/07/2025     | Proposal to approve, on a non-binding, advisory basis, the compensation that may be paid or become payable to our principal executive officer, principal financial officer, and the three other most highly compensated executive officers that is based on or otherwise related to the company merger as more fully described in the Proxy Statement,                       | SECTION 14A SAY-ON-PAY VOTES | 581300           |                0 | FOR         | 581300.000000                            | FOR                         |  |
| Uniti Group Inc.                            | 91325V108 | 04/02/2025     | The Advisory Compensation Proposal  Approve on an advisory (non-binding) basis the compensation that may be paid or become payable to Uniti's named executive officers that is based on or otherwise relates to the Merger (Proposal 2).                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |      1.3748e+06  |                0 | AGAINST     | 1374800.000000                           | AGAINST                     |  |
| Portland General Electric Company           | 736508847 | 04/18/2025     | To approve, by a non- binding vote, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 749182           |            62151 | FOR         | 749182.000000                            | FOR                         |  |
| Clearway Energy, Inc.                       | 18539C204 | 04/22/2025     | To approve, on a non-binding advisory basis, Clearway Energy, Inc.'s executive compensation.                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 593656           |                0 | FOR         | 593656.000000                            | FOR                         |  |
| Getty Realty Corp.                          | 374297109 | 04/22/2025     | ADVISORY (NON-BINDING) VOTE ON NAMED EXECUTIVE COMPENSATION (SAY-ON-PAY).                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 276130           |           245384 | FOR         | 276130.000000                            | FOR                         |  |
| XPLR Infrastructure, LP                     | 65341B106 | 04/22/2025     | Approval, by non-binding advisory vote, of the compensation of XPLR Infrastructure's named executive officers as disclosed in the proxy statement.                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 794852           |                0 | AGAINST     | 794852.000000                            | AGAINST                     |  |
| 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 |      2.44056e+06 |             4744 | FOR         | 2440559.000000                           | FOR                         |  |
| Healthpeak Properties, Inc.                 | 42250P103 | 04/24/2025     | Approval of 2024 executive compensation on an advisory basis.                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |      3.3541e+06  |                0 | FOR         | 3354096.000000                           | FOR                         |  |
| Park Hotels  Resorts Inc.                   | 700517105 | 04/25/2025     | To approve, on an advisory (non-binding) basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 800659           |                0 | FOR         | 800659.000000                            | FOR                         |  |
| STAG Industrial, Inc.                       | 85254J102 | 04/28/2025     | The approval, by non-binding vote, of executive compensation.                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 293703           |            32600 | FOR         | 293703.000000                            | FOR                         |  |
| Constellation Energy Corporation            | 21037T109 | 04/29/2025     | To consider and act on an advisory vote regarding the approval of compensation paid to named executive officers                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 187376           |                0 | FOR         | 187376.000000                            | FOR                         |  |
| Cousins Properties Incorporated             | 222795502 | 04/29/2025     | Consideration of an advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 186315           |                0 | FOR         | 186315.000000                            | FOR                         |  |
| DiamondRock Hospitality Company             | 252784301 | 04/29/2025     | To approve, on a non-binding, advisory basis, the compensation of the named executive officers, as disclosed in the proxy statement.                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.70133e+06 |            58500 | FOR         | 1701331.000000                           | 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 | 630372           |             5282 | FOR         | 630372.000000                            | FOR                         |  |
| The Williams Companies, Inc.                | 969457100 | 04/29/2025     | Approve, on an Advisory Basis, the Compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      1.32471e+06 |                0 | FOR         | 1324709.000000                           | 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 |      1.0599e+06  |           276817 | FOR         | 1059905.000000                           | FOR                         |  |
| First Industrial Realty Trust, Inc.         | 32054K103 | 04/30/2025     | To approve, on an advisory (i.e. non-binding) basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement for the 2025 Annual Meeting.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 929128           |                0 | FOR         | 929128.000000                            | 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 | 652710           |                0 | FOR         | 652710.000000                            | FOR                         |  |
| Sunstone Hotel Investors, Inc.              | 867892101 | 05/01/2025     | Advisory vote to approve the compensation of Sunstone's named executive officers, as set forth in Sunstone's Proxy Statement for the 2025 Annual Meeting.                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      3.95594e+06 |            21009 | FOR         | 3955943.000000                           | FOR                         |  |
| CMS Energy Corporation                      | 125896100 | 05/02/2025     | Approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 733993           |                0 | FOR         | 733993.000000                            | FOR                         |  |
| Evergy, Inc.                                | 30034W106 | 05/06/2025     | Approve the 2024 compensation of our named executive officers on an advisory non-binding basis.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 667325           |            58628 | FOR         | 667325.000000                            | FOR                         |  |
| Evergy, Inc.                                | 30034W106 | 05/06/2025     | To recommend, on a non-binding advisory basis, the frequency of the advisory vote on executive compensation.                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 667325           |            58628 | ONE YEAR    | 667325.000000                            | FOR                         |  |
| 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 | 444062           |           169760 | FOR         | 444062.000000                            | FOR                         |  |
| Chesapeake Utilities Corporation            | 165303108 | 05/07/2025     | Approve on an advisory non-binding basis the compensation of the Company's Named Executive Officers.                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |   4001           |                0 | FOR         | 4001.000000                              | FOR                         |  |
| CSX Corporation                             | 126408103 | 05/07/2025     | Advisory (non-binding) resolution to approve compensation for the Company's named executive officers.                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |      1.81335e+06 |                0 | FOR         | 1813353.000000                           | FOR                         |  |
| Dominion Energy, Inc.                       | 25746U109 | 05/07/2025     | Advisory Vote on Approval of Executive Compensation (Say on Pay)                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 369494           |                0 | FOR         | 369494.000000                            | FOR                         |  |
| Essential Utilities, Inc.                   | 29670G102 | 05/07/2025     | To approve an advisory vote on the compensation paid to the Company's named executive officers for 2024.                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |      1.51031e+06 |           255940 | FOR         | 1510311.000000                           | FOR                         |  |
| Federal Realty Investment Trust             | 313745101 | 05/07/2025     | To approve, on a non-binding, advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 317868           |             1846 | FOR         | 317868.000000                            | 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 | 142132           |                0 | FOR         | 142132.000000                            | FOR                         |  |
| Regency Centers Corporation                 | 758849103 | 05/07/2025     | Approval, in an advisory vote, of the Company's executive compensation.                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.02202e+06 |           161144 | FOR         | 1022015.000000                           | FOR                         |  |
| Ameren Corporation                          | 023608102 | 05/08/2025     | COMPANY PROPOSAL - ADVISORY APPROVAL OF COMPENSATION OF THE NAMED EXECUTIVE OFFICERS DISCLOSED IN THE PROXY STATEMENT.                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |   3450           |                0 | FOR         | 3450.000000                              | FOR                         |  |
| DTE Energy Company                          | 233331107 | 05/08/2025     | Provide a nonbinding vote to approve the Company's executive compensation                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |   3803           |                0 | FOR         | 3803.000000                              | FOR                         |  |
| Norfolk Southern Corporation                | 655844108 | 05/08/2025     | Approval of the advisory resolution on executive compensation, as disclosed in the proxy statement for the 2025 Annual Meeting of Shareholders.                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      0           |                0 |  |  |  |  |
| Prologis, Inc.                              | 74340W103 | 05/08/2025     | Advisory Vote to Approve the Company's Executive Compensation for 2024.                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 628438           |            42500 | FOR         | 628438.000000                            | FOR                         |  |
| WEC Energy Group, Inc.                      | 92939U106 | 05/08/2025     | Advisory vote to approve executive compensation of the named executive officers                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 789546           |                0 | FOR         | 789546.000000                            | FOR                         |  |
| Camden Property Trust                       | 133131102 | 05/09/2025     | Approval, by an advisory vote, of executive compensation.                                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 104095           |                0 | FOR         | 104095.000000                            | FOR                         |  |
| Marriott International, Inc.                | 571903202 | 05/09/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |  89094           |            11701 | FOR         | 89094.000000                             | FOR                         |  |
| The AES Corporation                         | 00130H105 | 05/09/2025     | Approval, on an advisory basis, of the Company's executive compensation.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |      6.00316e+06 |                0 | FOR         | 6003162.000000                           | FOR                         |  |
| Weyerhaeuser Company                        | 962166104 | 05/09/2025     | Approval, on an advisory basis, of the compensation of the named executive officers.                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 178714           |                0 | FOR         | 178714.000000                            | FOR                         |  |
| National Storage Affiliates Trust           | 637870106 | 05/12/2025     | Shareholder advisory vote (non-binding) on the executive compensation of the Company's Named Executive Officers as more fully described in the Proxy Statement.                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 316068           |                0 | FOR         | 316068.000000                            | 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 | 178107           |                0 | FOR         | 178107.000000                            | 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 |  76610           |                0 | FOR         | 76610.000000                             | FOR                         |  |
| Highwoods Properties, Inc.                  | 431284108 | 05/13/2025     | ADVISORY VOTE ON EXECUTIVE COMPENSATION.                                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  22720           |             1520 | FOR         | 22720.000000                             | 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 |      2.40782e+06 |           931518 | FOR         | 2407816.000000                           | FOR                         |  |
| Sempra                                      | 816851109 | 05/13/2025     | Advisory approval of our executive compensation                                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      0           |                0 |  |  |  |  |
| Sun Communities, Inc.                       | 866674104 | 05/13/2025     | To approve, by a non-binding advisory vote, executive compensation.                                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 346564           |            46159 | FOR         | 346564.000000                            | 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 |  50366           |                0 | FOR         | 50366.000000                             | FOR                         |  |
| American Tower Corporation                  | 03027X100 | 05/14/2025     | To approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 492239           |                0 | FOR         | 492239.000000                            | FOR                         |  |
| American Water Works Company, Inc.          | 030420103 | 05/14/2025     | Approval, on an advisory basis, of the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 126830           |            39558 | FOR         | 126830.000000                            | FOR                         |  |
| Hilton Worldwide Holdings Inc.              | 43300A203 | 05/14/2025     | Approval, in a non-binding advisory vote, of the compensation paid to the named executive officers.                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  28885           |                0 | FOR         | 28885.000000                             | FOR                         |  |
| Host Hotels  Resorts, Inc.                  | 44107P104 | 05/14/2025     | Advisory resolution to approve executive compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      1.13421e+06 |             5291 | FOR         | 1134210.000000                           | 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 |      1.1099e+06  |           102411 | FOR         | 1109899.000000                           | 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 |      1.18017e+06 |                0 | FOR         | 1180167.000000                           | FOR                         |  |
| Agree Realty Corporation                    | 008492100 | 05/15/2025     | To approve, by non-binding vote, executive compensation.                                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 318399           |           187088 | FOR         | 318399.000000                            | FOR                         |  |
| Empire State Realty Trust, Inc.             | 292104106 | 05/15/2025     | To approve, on a non-binding, advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      1.01296e+06 |                0 | FOR         | 1012961.000000                           | 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 |      3.14536e+06 |            57000 | FOR         | 3145364.000000                           | 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 |      3.14536e+06 |            57000 | ONE YEAR    | 3145364.000000                           | FOR                         |  |
| Kinder Morgan, Inc.                         | 49456B101 | 05/15/2025     | Approval, on an advisory basis, of the compensation of our named executive officers, as disclosed in the Proxy Statement                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  10913           |                0 | FOR         | 10913.000000                             | FOR                         |  |
| NetSTREIT Corp.                             | 64119V303 | 05/15/2025     | Approval, on an advisory basis, of the compensation of NETSTREIT Corp.'s named executive officers.                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 225205           |            76141 | FOR         | 225205.000000                            | FOR                         |  |
| OGE Energy Corp.                            | 670837103 | 05/15/2025     | Advisory Vote to Approve Named Executive Officer Compensation.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 743709           |           141208 | FOR         | 743709.000000                            | FOR                         |  |
| Piedmont Office Realty Trust, Inc.          | 720190206 | 05/15/2025     | Approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      1.12532e+06 |             5946 | FOR         | 1125319.000000                           | FOR                         |  |
| UDR, Inc.                                   | 902653104 | 05/15/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 602979           |              300 | FOR         | 602979.000000                            | FOR                         |  |
| PPL Corporation                             | 69351T106 | 05/16/2025     | Advisory vote to approve compensation of named executive officers                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |      1.82187e+06 |            93500 | FOR         | 1821867.000000                           | FOR                         |  |
| Consolidated Edison, Inc.                   | 209115104 | 05/19/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 413623           |                0 | FOR         | 413623.000000                            | FOR                         |  |
| Americold Realty Trust                      | 03064D108 | 05/20/2025     | Advisory Vote on Compensation of Named Executive Officers (Say-On-Pay).                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.94916e+06 |                0 | AGAINST     | 1949160.000000                           | AGAINST                     |  |
| COPT Defense Properties                     | 22002T108 | 05/20/2025     | Approval, on an advisory basis, of the compensation of our named executive officers as disclosed in the proxy statement for this meeting.                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 902008           |                0 | FOR         | 902008.000000                            | FOR                         |  |
| CubeSmart                                   | 229663109 | 05/20/2025     | To cast an advisory vote to approve our executive compensation.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      2.12377e+06 |                0 | FOR         | 2123766.000000                           | 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 | 941911           |                0 | FOR         | 941911.000000                            | FOR                         |  |
| Targa Resources Corp.                       | 87612G101 | 05/20/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers for the fiscal year ended December 31, 2024.                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 391696           |                0 | FOR         | 391696.000000                            | 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 | 265943           |             2185 | FOR         | 265943.000000                            | FOR                         |  |
| Crown Castle Inc.                           | 22822V101 | 05/21/2025     | The non-binding, advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES | 752115           |                0 | FOR         | 752115.000000                            | 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 | 294380           |                0 | FOR         | 294380.000000                            | FOR                         |  |
| Extra Space Storage Inc.                    | 30225T102 | 05/21/2025     | Advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 809018           |                0 | FOR         | 809018.000000                            | FOR                         |  |
| ONEOK, Inc.                                 | 682680103 | 05/21/2025     | An advisory vote to approve ONEOK, Inc.'s executive compensation.                                                                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 791164           |                0 | FOR         | 791164.000000                            | FOR                         |  |
| Plains GP Holdings, L.P.                    | 72651A207 | 05/21/2025     | The approval, on a non-binding advisory basis, of our 2024 named executive officer compensation.                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |  15702           |                0 | FOR         | 15702.000000                             | FOR                         |  |
| The Southern Company                        | 842587107 | 05/21/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 150418           |            53874 | FOR         | 150418.000000                            | FOR                         |  |
| Xcel Energy Inc.                            | 98389B100 | 05/21/2025     | Approval of Xcel Energy Inc.'s executive compensation in an advisory vote (say on pay vote)                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 935913           |           190472 | FOR         | 935913.000000                            | 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 | 277865           |            35101 | FOR         | 277865.000000                            | FOR                         |  |
| NextEra Energy, Inc.                        | 65339F101 | 05/22/2025     | Approval, by non-binding advisory vote, of NextEra Energy's compensation of its named executive officers as disclosed in the proxy statement.                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 410301           |                0 | FOR         | 410301.000000                            | FOR                         |  |
| PG Corporation                              | 69331C108 | 05/22/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      4.44022e+06 |                0 | FOR         | 4440218.000000                           | FOR                         |  |
| Vornado Realty Trust                        | 929042109 | 05/22/2025     | NON-BINDING, ADVISORY RESOLUTION ON EXECUTIVE COMPENSATION.                                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 437219           |           106751 | FOR         | 437219.000000                            | 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 |      1.56861e+06 |           117848 | FOR         | 1568607.000000                           | FOR                         |  |
| Pebblebrook Hotel Trust                     | 70509V100 | 05/23/2025     | Advisory vote approving the compensation of our named executive officers ("Say-On-Pay").                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 399439           |           216009 | FOR         | 399439.000000                            | FOR                         |  |
| SBA Communications Corporation              | 78410G104 | 05/23/2025     | Approval, on an advisory basis, of the compensation of SBA's named executive officers.                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  68559           |            18316 | FOR         | 68559.000000                             | FOR                         |  |
| California Water Service Group              | 130788102 | 05/28/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 550015           |             3300 | FOR         | 550015.000000                            | FOR                         |  |
| Elme Communities                            | 939653101 | 05/29/2025     | To consider and vote on a non-binding, advisory basis upon the compensation of the named executive officers (say-on-pay)                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |      1.57225e+06 |             5400 | FOR         | 1572247.000000                           | 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 | 471691           |           185715 | FOR         | 471691.000000                            | FOR                         |  |
| Medical Properties Trust, Inc.              | 58463J304 | 05/29/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 100100           |                0 | AGAINST     | 100100.000000                            | AGAINST                     |  |
| Uniti Group Inc.                            | 91325V108 | 05/29/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 999800           |                0 | AGAINST     | 999800.000000                            | AGAINST                     |  |
| Rexford Industrial Realty, Inc.             | 76169C100 | 06/03/2025     | The advisory resolution to approve the Company's named executive officer compensation for the fiscal year ended December 31, 2024, as described in the Rexford Industrial Realty, Inc. Proxy Statement.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 652365           |                0 | FOR         | 652365.000000                            | FOR                         |  |
| Four Corners Property Trust, Inc.           | 35086T109 | 06/05/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 541619           |           510720 | FOR         | 541619.000000                            | 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 | 742576           |             4605 | FOR         | 742576.000000                            | FOR                         |  |
| Apartment Investment and Management Company | 03748R747 | 06/10/2025     | To conduct an advisory vote on executive compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  71016           |                0 | FOR         | 71016.000000                             | FOR                         |  |
| Veris Residential, Inc.                     | 554489104 | 06/11/2025     | To consider and vote, on an advisory basis, for the adoption of a resolution approving the compensation of our named executive officers.                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 649520           |                0 | FOR         | 649520.000000                            | 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 | 328666           |            84347 | AGAINST     | 328666.000000                            | 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 | 328666           |            84347 | ONE YEAR    | 328666.000000                            | FOR                         |  |
| American Healthcare REIT, Inc.              | 398182303 | 06/25/2025     | To approve, on an advisory (non-binding) basis, the compensation paid to our named executive officers for the year ended December 31, 2024.                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 665983           |           193210 | FOR         | 665983.000000                            | FOR                         |  |
| Equity Residential                          | 29476L107 | 06/26/2025     | Approval of Executive Compensation.                                                                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 140316           |                0 | FOR         | 140316.000000                            | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC

**By (Signature):** Jeff C. Chang

**By (Printed Signature):** Jeff C. Chang

**By (Title):** Chief Compliance Officer

**Date:** 08/06/2025