As filed with the Securities and Exchange Commission on August 31, 2007

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

                  Investment Company Act file number: 811-21315

                    NEUBERGER BERMAN REALTY INCOME FUND INC.
                    ----------------------------------------
             (Exact Name of the Registrant as Specified in Charter)
                           605 Third Avenue, 2nd Floor
                          New York, New York 10158-0180
               (Address of Principal Executive Offices - Zip Code)

       Registrant's telephone number, including area code: (212) 476-8800

                    Peter E. Sundman, Chief Executive Officer
                    Neuberger Berman Realty Income Fund Inc.
                           605 Third Avenue, 2nd Floor
                          New York, New York 10158-0180

                              Arthur Delibert, Esq.
                 Kirkpatrick & Lockhart Preston Gates Ellis LLP
                               1601 K Street, N.W.
                           Washington, D.C. 20006-1600
                   (Names and Addresses of agents for service)

Date of fiscal year end:   October 31
Date of reporting period:  July 1, 2006 to June 30, 2007

     Form N-PX is to be used by a registered management investment company,
other than a small business investment company registered on Form N-5 (s.s.
239.24 and 274.5 of this chapter), to file reports with the Commission, not
later than August 31, of each year, containing the registrant's proxy voting
record for the most recent twelve-month period ended, June 30, pursuant to
section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17
CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in
its regulatory, disclosure review, inspection and policymaking roles.

     A registrant is required to disclose the information specified by Form
N-PX, and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained on Form N-PX
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden of the Secretary, Securities of Exchange Commission, 100 F Street, NE,
Washington DC 20549-0609. The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. s. 3507.



ITEM 1. PROXY VOTING RECORD.

Neuberger Berman Realty Income Fund Inc.

07/01/2006 - 06/30/2007


----------------------------------------------------------------------------------------------------------------------------------
                                                                                                 
AMERICAN FINANCIAL REALTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 AFR            CUSIP9 02607P305                  06/06/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Richard Berry               Mgmt        For       For        For
                                 1.2            Elect John Biggar                 Mgmt        For       For        For
                                 1.3            Elect Raymond Garea               Mgmt        For       For        For
                                 1.4            Elect John Hollihan III           Mgmt        For       Withhold   Against
                                 1.5            Elect Richard Kraemer             Mgmt        For       Withhold   Against
                                 1.6            Elect Alan Master                 Mgmt        For       Withhold   Against
                                 1.7            Elect Harold Pote                 Mgmt        For       For        For
                                 1.8            Elect Lewis Ranieri               Mgmt        For       Withhold   Against


----------------------------------------------------------------------------------------------------------------------------------
APARTMENT INVESTMENT AND
MANAGEMENT CO.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 AIV            CUSIP9 03748R101                  04/30/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect James Bailey                Mgmt        For       For        For
                                 1.2            Elect Terry Considine             Mgmt        For       For        For
                                 1.3            Elect Richard Ellwood             Mgmt        For       For        For
                                 1.4            Elect Thomas Keltner              Mgmt        For       For        For
                                 1.5            Elect J. Landis Martin            Mgmt        For       For        For
                                 1.6            Elect Robert Miller               Mgmt        For       For        For
                                 1.7            Elect Thomas Rhodes               Mgmt        For       For        For
                                 1.8            Elect Michael Stein               Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              TO APPROVE THE AIMCO 2007         Mgmt        For       For        For
                                                STOCK AWARD AND INCENTIVE
                                                PLAN.
                                 4              TO APPROVE THE AIMCO 2007         Mgmt        For       For        For
                                                EMPLOYEE STOCK PURCHASE PLAN.


----------------------------------------------------------------------------------------------------------------------------------
ARCHSTONE SMITH TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 ASN            CUSIP9 039583109                  05/16/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Stephen Demeritt            Mgmt        For       For        For
                                 1.2            Elect Ernest Gerardi, Jr.         Mgmt        For       For        For
                                 1.3            Elect Ruth Ann Gillis             Mgmt        For       For        For
                                 1.4            Elect Ned Holmes                  Mgmt        For       For        For
                                 1.5            Elect Robert Kogod                Mgmt        For       For        For
                                 1.6            Elect James Polk, III             Mgmt        For       For        For
                                 1.7            Elect John Schweitzer             Mgmt        For       For        For
                                 1.8            Elect R. Scot Sellers             Mgmt        For       For        For
                                 1.9            Elect Robert Smith                Mgmt        For       Withhold   Against
                                 2              Shareholder Proposal              ShrHoldr    Against   Against    For
                                                Regarding Pay-For-Superior Pe
                                 3              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
ASHFORD HOSPITALITY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 AHT            CUSIP9 044103109                  05/15/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Archie Bennett, Jr.         Mgmt        For       For        For
                                 1.2            Elect Montgomery  Bennett         Mgmt        For       For        For
                                 1.3            Elect Martin Edelman              Mgmt        For       Withhold   Against
                                 1.4            Elect W. Minami                   Mgmt        For       For        For
                                 1.5            Elect W.  Michael Murphy          Mgmt        For       For        For
                                 1.6            Elect Philip S. Payne             Mgmt        For       For        For
                                 1.7            Elect Charles  Toppino            Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
BRANDYWINE REALTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 BDN            CUSIP9 105368203                  05/09/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Walter D'Alessio            Mgmt        For       For        For
                                 1.2            Elect D. Pike Aloian              Mgmt        For       For        For
                                 1.3            Elect Thomas August               Mgmt        For       Withhold   Against
                                 1.4            Elect Donald Axinn                Mgmt        For       Withhold   Against
                                 1.5            Elect Wyche Fowler                Mgmt        For       For        For
                                 1.6            Elect Michael Joyce               Mgmt        For       For        For
                                 1.7            Elect Anthony Nichols, Sr.        Mgmt        For       For        For
                                 1.8            Elect Michael Prentiss            Mgmt        For       Withhold   Against
                                 1.9            Elect Charles Pizzi               Mgmt        For       For        For
                                 1.10           Elect Gerard Sweeney              Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              AMENDMENT AND RESTATEMENT OF      Mgmt        For       For        For
                                                1997 LONG-TERM INCENTIVE PLAN
                                 4              EMPLOYEE SHARE PURCHASE PLAN      Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
CAMDEN PROPERTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CPTPRA         CUSIP9 133131102                  05/01/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Richard Campo               Mgmt        For       For        For
                                 1.2            Elect William Cooper              Mgmt        For       For        For
                                 1.3            Elect Scott Ingraham              Mgmt        For       For        For
                                 1.4            Elect Lewis Levey                 Mgmt        For       For        For
                                 1.5            Elect William McGuire, Jr.        Mgmt        For       Withhold   Against
                                 1.6            Elect William Paulsen             Mgmt        For       Withhold   Against
                                 1.7            Elect D. Keith Oden               Mgmt        For       For        For
                                 1.8            Elect F. Gardner Parker           Mgmt        For       For        For
                                 1.9            Elect Steven Webster              Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
CAPITAL TRUST INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CT             CUSIP9 14052H506                  06/07/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Samuel Zell                 Mgmt        For       For        For
                                 1.2            Elect Thomas Dobrowski            Mgmt        For       For        For
                                 1.3            Elect Martin Edelman              Mgmt        For       Withhold   Against
                                 1.4            Elect Craig Hatkoff               Mgmt        For       For        For
                                 1.5            Elect Edward Hyman                Mgmt        For       For        For
                                 1.6            Elect John Klopp                  Mgmt        For       For        For
                                 1.7            Elect Henry Nassau                Mgmt        For       For        For
                                 1.8            Elect Joshua Polan                Mgmt        For       For        For
                                 1.9            Elect Lynne Sagalyn               Mgmt        For       For        For
                                 2              Capital Trust 2007 Long-Term      Mgmt        For       Against    Against
                                                Incentive Plan
                                 3              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
CBL & ASSOCIATES PROPERTIES INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CBLPRB         CUSIP9 124830100                  05/07/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Stephen Lebovitz            Mgmt        For       For        For
                                 1.2            Elect Winston Walker              Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
CBRE REALTY FINANCE INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CBF            CUSIP9 12498B307                  06/06/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Ray Wirta                   Mgmt        For       For        For
                                 1.2            Elect Michael Melody              Mgmt        For       For        For
                                 1.3            Elect Douglas Eby                 Mgmt        For       For        For
                                 1.4            Elect Vincent Constantini         Mgmt        For       For        For
                                 1.5            Elect Ricardo Koenigsberger       Mgmt        For       For        For
                                 1.6            Elect David Marks                 Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
COLONIAL PROPERTIES TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CLPPRC         CUSIP9 195872106                  04/25/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Weston  Andress             Mgmt        For       Withhold   Against
                                 1.2            Elect Carl Bailey                 Mgmt        For       For        For
                                 1.3            Elect M. Gorrie                   Mgmt        For       Withhold   Against
                                 1.4            Elect William Johnson             Mgmt        For       For        For
                                 1.5            Elect Glade Knight                Mgmt        For       For        For
                                 1.6            Elect James Lowder                Mgmt        For       Withhold   Against
                                 1.7            Elect Thomas Lowder               Mgmt        For       Withhold   Against
                                 1.8            Elect Herbert Meisler             Mgmt        For       For        For
                                 1.9            Elect Claude Nielsen              Mgmt        For       For        For
                                 1.10           Elect Harold Ripps                Mgmt        For       For        For
                                 1.11           Elect Donald Senterfitt           Mgmt        For       For        For
                                 1.12           Elect John Spiegel                Mgmt        For       Withhold   Against
                                 1.13           Elect C. Reynolds Thompson,       Mgmt        For       For        For
                                                III
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
CRYSTAL RIVER CAPITAL INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CRCQL          CUSIP9 229393301                  06/12/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect William Paulsen             Mgmt        For       For        For
                                 1.2            Elect Louis Salvatore             Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
EASTGROUP PROPERTIES INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 EGPPRA         CUSIP9 277276101                  05/30/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect D. Pike Aloian              Mgmt        For       For        For
                                 1.2            Elect H.C. Bailey, Jr.            Mgmt        For       For        For
                                 1.3            Elect Hayden Eaves III            Mgmt        For       For        For
                                 1.4            Elect Fredric Gould               Mgmt        For       For        For
                                 1.5            Elect David Hoster II             Mgmt        For       For        For
                                 1.6            Elect Mary McCormick              Mgmt        For       For        For
                                 1.7            Elect David Osnos                 Mgmt        For       For        For
                                 1.8            Elect Leland Speed                Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
EDUCATION REALTY TRUST INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 EDR            CUSIP9 28140H104                  05/22/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Paul Bower                  Mgmt        For       For        For
                                 1.2            Elect Paul Bower                  Mgmt        For       For        For
                                 1.3            Elect William Cahill, III.        Mgmt        For       For        For
                                 1.4            Elect John Ford                   Mgmt        For       For        For
                                 1.5            Elect Wendell Weakley             Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
EXTRA SPACE STORAGE INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 EXR            CUSIP9 30225T102                  05/23/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Kenneth Woolley             Mgmt        For       For        For
                                 1.2            Elect Anthony Fanticola           Mgmt        For       For        For
                                 1.3            Elect Hugh Horne                  Mgmt        For       For        For
                                 1.4            Elect Spencer Kirk                Mgmt        For       Withhold   Against
                                 1.5            Elect Joseph Margolis             Mgmt        For       For        For
                                 1.6            Elect Roger Porter                Mgmt        For       For        For
                                 1.7            Elect K. Fred Skousen             Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
FIRST INDUSTRIAL REALTY TRUST
INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 FR             CUSIP9 32054K103                  05/16/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Jay Shidler                 Mgmt        For       For        For
                                 1.2            Elect J. Steven Wilson            Mgmt        For       For        For
                                 1.3            Elect Robert Newman               Mgmt        For       For        For
                                 2              APPROVAL OF AMENDMENT NO. 2       Mgmt        For       For        For
                                                TO THE 2001 STOCK INCENTIVE
                                                PLAN.
                                 3              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
GLENBOROUGH REALTY TRUST
INC.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 GLB            CUSIP9 37803P105                  11/28/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Special        United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.0            Approve Merger Agreement          Mgmt        For       For        For
                                 2.0            Other Business                    Mgmt        For       Against    Against


----------------------------------------------------------------------------------------------------------------------------------
GLIMCHER REALTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 GRTPRB         CUSIP9 379302102                  05/11/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Niles Overly                Mgmt        For       For        For
                                 1.2            Elect William Williams            Mgmt        For       For        For
                                 1.3            Elect David Aronowitz             Mgmt        For       For        For
                                 2              Amendment to 2004 Incentive       Mgmt        For       For        For
                                                Compensation Plan
                                 3              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
GRAMERCY CAPITAL CORP.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 GKK            CUSIP9 384871109                  05/24/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Marc Holliday               Mgmt        For       Withhold   Against
                                 1.2            Elect Paul Konigsberg             Mgmt        For       For        For
                                 1.3            Elect Charles Laven               Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
HEALTHCARE PROPERTIES
INVESTMENTS INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HCP            CUSIP9 421915109                  05/10/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Mary Cirillo-Goldberg       Mgmt        For       For        For
                                 1.2            Elect Robert Fanning, Jr.         Mgmt        For       For        For
                                 1.3            Elect James Flaherty, III         Mgmt        For       For        For
                                 1.4            Elect David Henry                 Mgmt        For       For        For
                                 1.5            Elect Michael McKee               Mgmt        For       Withhold   Against
                                 1.6            Elect Harold Messmer, Jr.         Mgmt        For       Withhold   Against
                                 1.7            Elect Peter Rhein                 Mgmt        For       For        For
                                 1.8            Elect Kenneth Roath               Mgmt        For       For        For
                                 1.9            Elect Richard Rosenberg           Mgmt        For       For        For
                                 1.10           Elect Joseph  Sullivan            Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              STOCKHOLDER PROPOSAL              ShrHoldr    Against   For        Against
                                                REGARDING EXECUTIVE
                                                COMPENSATION.


----------------------------------------------------------------------------------------------------------------------------------
HEALTHCARE REAL ESTATE
INVESTMENT INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HCNPRB         CUSIP9 42217K304                  05/11/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1              Increase Authorized Shares of     Mgmt        For       For        For
                                                Preferred Stock


----------------------------------------------------------------------------------------------------------------------------------
HEALTHCARE REALTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HRPRA          CUSIP9 421946104                  05/15/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Marliese Mooney             Mgmt        For       For        For
                                 1.2            Elect Edwin Morris, III           Mgmt        For       For        For
                                 1.3            Elect John Singleton              Mgmt        For       For        For
                                 2              2007 Employees Stock              Mgmt        For       For        For
                                                Incentive Plan
                                 3              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
HERITAGE PROPERTY INVESTMENT
TRUST
INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HTG            CUSIP9 42725M107                  10/03/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Special        United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.0            Approve Merger Agreement          Mgmt        For       For        For
                                 2.0            Adjourn Meeting                   Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
HIGHWOODS PROPERTIES INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HIW            CUSIP9 431284108                  05/18/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Edward Fritsch              Mgmt        For       For        For
                                 1.2            Elect Lawrence Kaplan             Mgmt        For       For        For
                                 1.3            Elect Sherry Kellett              Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
HIGHWOODS PROPERTIES,
INC.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HIW            CUSIP9 431284108                  08/03/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Director Thomas W. Adler    Mgmt        For       For        For
                                 1.2            Elect Director Gene H.            Mgmt        For       For        For
                                                Anderson
                                 1.3            Elect Director Kay N. Callison    Mgmt        For       For        For
                                 1.4            Elect Director Sherry A.          Mgmt        For       For        For
                                                Kellett
                                 1.5            Elect Director L. Glenn Orr,      Mgmt        For       For        For
                                                Jr.
                                 1.6            Elect Director O. Temple          Mgmt        For       For        For
                                                Sloan, Jr.
                                 2.0            Ratify Auditors                   Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
HOME PROPERTIES INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HME            CUSIP9 437306103                  05/01/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Josh Fidler                 Mgmt        For       Withhold   Against
                                 1.2            Elect Alan Gosule                 Mgmt        For       For        For
                                 1.3            Elect Leonard Helbig, III         Mgmt        For       For        For
                                 1.4            Elect Roger Kober                 Mgmt        For       For        For
                                 1.5            Elect Norman Leenhouts            Mgmt        For       For        For
                                 1.6            Elect Nelson Leenhouts            Mgmt        For       For        For
                                 1.7            Elect Edward  Pettinella          Mgmt        For       For        For
                                 1.8            Elect Clifford Smith, Jr.         Mgmt        For       For        For
                                 1.9            Elect Paul Smith                  Mgmt        For       For        For
                                 1.10           Elect Thomas Summer               Mgmt        For       For        For
                                 1.11           Elect Amy Tait                    Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
HRPT PROPERTIES TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 HRP            CUSIP9 40426W101                  05/15/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Patrick Donelan             Mgmt        For       Withhold   Against
                                 2              Amendment to Change Required      Mgmt        For       Against    Against
                                                Shareholder Vote and
                                 3              Amendment to Supermajority        Mgmt        For       Against    Against
                                                Requirements
                                 4              Amendment to Authorize the        Mgmt        For       For        For
                                                Board to Divide or Comb
                                 5              Amendment to Declaration of       Mgmt        For       For        For
                                                Trust Regarding Indemn
                                 6              Amendment to Permit Issuance      Mgmt        For       For        For
                                                of Securities Convert
                                 7              Right to Adjourn Meeting          Mgmt        For       Against    Against


----------------------------------------------------------------------------------------------------------------------------------
ISTAR FINANCIAL INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 SFIPRB         CUSIP9 45031U101                  05/30/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Jay Sugarman                Mgmt        For       For        For
                                 1.2            Elect Glenn August                Mgmt        For       For        For
                                 1.3            Elect Robert  Holman, Jr.         Mgmt        For       For        For
                                 1.4            Elect Robin Josephs               Mgmt        For       Withhold   Against
                                 1.5            Elect Carter McClelland           Mgmt        For       For        For
                                 1.6            Elect John McDonald               Mgmt        For       For        For
                                 1.7            Elect George  Puskar              Mgmt        For       For        For
                                 1.8            Elect Jeffrey Weber               Mgmt        For       For        For
                                 2              2007 Incentive Compensation       Mgmt        For       For        For
                                                Plan
                                 3              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
KILROY REALTY CORP.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 KRCPRF         CUSIP9 49427F108                  05/17/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect William Dickey              Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
LEXINGTON CORP. PROPERTIES TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 LXP            CUSIP9 529043101                  05/22/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Michael Ashner              Mgmt        For       For        For
                                 1.2            Elect E. Robert Roskind           Mgmt        For       Withhold   Against
                                 1.3            Elect Richard  Rouse              Mgmt        For       Withhold   Against
                                 1.4            Elect T. Wilson Eglin             Mgmt        For       For        For
                                 1.5            Elect William Borruso             Mgmt        For       For        For
                                 1.6            Elect Clifford Broser             Mgmt        For       For        For
                                 1.7            Elect Geoffrey Dohrmann           Mgmt        For       For        For
                                 1.8            Elect Carl Glickman               Mgmt        For       For        For
                                 1.9            Elect James Grosfeld              Mgmt        For       For        For
                                 1.10           Elect Richard Frary               Mgmt        For       For        For
                                 1.11           Elect Kevin Lynch                 Mgmt        For       Withhold   Against
                                 2              2007 Equity-Based Award Plan      Mgmt        For       Against    Against
                                 3              Ratification of Auditor           Mgmt        For       For        For
                                 4              Transaction of Other Business     Mgmt        For       Against    Against


----------------------------------------------------------------------------------------------------------------------------------
LEXINGTON REALTY
TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 LXP            CUSIP9 529043101                  11/20/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Special        United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.0            Approve Merger Agreement          Mgmt        For       For        For
                                 2.0            Adjourn Meeting                   Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
LIBERTY PROPERTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 LRYPRA         CUSIP9 531172104                  05/17/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect J. Anthony Hayden           Mgmt        For       Withhold   Against
                                 1.2            Elect M. Leanne Lachman           Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              Amendment to the Amended and      Mgmt        For       For        For
                                                Restated Share Incentive Plan


----------------------------------------------------------------------------------------------------------------------------------
MACERICH COMPANY
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 MAC            CUSIP9 554382101                  05/30/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Edward Coppola              Mgmt        For       For        For
                                 1.2            Elect Fred Hubbell                Mgmt        For       For        For
                                 1.3            Elect William Sexton              Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              Shareholder Proposal              ShrHoldr    Against   For        Against
                                                Regarding Declassification of
                                                the Board

----------------------------------------------------------------------------------------------------------------------------------
MACK CALI RLTY CORP. COMMERCE
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 CLI            CUSIP9 554489104                  05/23/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Alan Bernikow               Mgmt        For       For        For
                                 1.2            Elect Kenneth Duberstein          Mgmt        For       For        For
                                 1.3            Elect Vincent Tese                Mgmt        For       Withhold   Against
                                 1.4            Elect Roy Zuckerberg              Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
MAGUIRE PROPERTIES INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 MPG            CUSIP9 559775101                  06/05/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Robert Maguire III          Mgmt        For       For        For
                                 1.2            Elect Lawrence Kaplan             Mgmt        For       For        For
                                 1.3            Elect Caroline McBride            Mgmt        For       For        For
                                 1.4            Elect Andrea Van de Kamp          Mgmt        For       For        For
                                 1.5            Elect Walter Weisman              Mgmt        For       For        For
                                 1.6            Elect Lewis Wolff                 Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              Amendment to 2003 Incentive       Mgmt        For       For        For
                                                Award Plan


----------------------------------------------------------------------------------------------------------------------------------
NATIONWIDE HEALTH PROPERTIES INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 NHP            CUSIP9 638620104                  04/24/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect David Banks                 Mgmt        For       For        For
                                 1.2            Elect Douglas Pasquale            Mgmt        For       For        For
                                 1.3            Elect Jack Samuelson              Mgmt        For       For        For
                                 2              Increase in Authorized Shares     Mgmt        For       For        For
                                 3              Charter Amendment Regarding       Mgmt        For       For        For
                                                REIT Protections
                                 4              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
NEWKIRK REALTY TRUST
INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 NKT            CUSIP9 651497109                  11/20/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Special        United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.0            Approve Merger Agreement          Mgmt        For       For        For
                                 2.0            Adjourn Meeting                   Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
NORTHSTAR REALTY FINANCIAL
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 NRF            CUSIP9 66704R100                  05/24/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect William Adamski             Mgmt        For       For        For
                                 1.2            Elect Preston Butcher             Mgmt        For       Withhold   Against
                                 1.3            Elect David  Hamamoto             Mgmt        For       For        For
                                 1.4            Elect Judith Hannaway             Mgmt        For       For        For
                                 1.5            Elect Wesley Minami               Mgmt        For       For        For
                                 1.6            Elect Louis Paglia                Mgmt        For       For        For
                                 1.7            Elect W. Edward Scheetz           Mgmt        For       For        For
                                 1.8            Elect Frank Sica                  Mgmt        For       Withhold   Against
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              Amendment to 2004 Omnibus         Mgmt        For       For        For
                                                Stock Incentive Plan


----------------------------------------------------------------------------------------------------------------------------------
OMEGA HEALTHCARE INVESTORS INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 OHIPRB         CUSIP9 681936100                  05/24/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Edward Lowenthal            Mgmt        For       Withhold   Against
                                 1.2            Elect Stephen Plavin              Mgmt        For       Withhold   Against
                                 2              RATIFICATION OF INDEPENDENT       Mgmt        For       For        For
                                                AUDITORS ERNST & YOUNG LLP


----------------------------------------------------------------------------------------------------------------------------------
PENNSYLVANIA REAL ESTATE
INVESTMENT
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 PEI            CUSIP9 709102107                  05/31/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Edward Glickman             Mgmt        For       For        For
                                 1.2            Elect Rosemarie Greco             Mgmt        For       For        For
                                 1.3            Elect Ira Lubert                  Mgmt        For       Withhold   Against
                                 1.4            Elect George Rubin                Mgmt        For       Withhold   Against
                                 2              APPROVAL OF THE 2008              Mgmt        For       For        For
                                                RESTRICTED SHARE PLAN FOR
                                                NON-EMPLOYEE TRUSTEES.
                                 3              RATIFICATION OF THE SELECTION     Mgmt        For       For        For
                                                OF KPMG LLP AS INDEPENDENT
                                                AUDITOR FOR 2007.


----------------------------------------------------------------------------------------------------------------------------------
PUBLIC
STORAGE
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 PSA            CUSIP9 74460D729                  08/22/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.0            Approve Merger Agreement          Mgmt        For       For        For
                                 2.1            Elect Director B. Wayne Hughes    Mgmt        For       Withhold   Against
                                 2.2            Elect Director Ronald L.          Mgmt        For       For        For
                                                Havner, Jr.
                                 2.3            Elect Director Harvey Lenkin      Mgmt        For       For        For
                                 2.4            Elect Director Robert J.          Mgmt        For       For        For
                                                Abernethy
                                 2.5            Elect Director Dann V.            Mgmt        For       For        For
                                                Angeloff
                                 2.6            Elect Director William C.         Mgmt        For       For        For
                                                Baker
                                 2.7            Elect Director John T. Evans      Mgmt        For       For        For
                                 2.8            Elect Director Uri P. Harkham     Mgmt        For       For        For
                                 2.9            Elect Director B. Wayne           Mgmt        For       Withhold   Against
                                                Hughes, Jr.
                                 2.10           Elect Director Daniel C.          Mgmt        For       For        For
                                                Staton
                                 3.0            Ratify Auditors                   Mgmt        For       For        For
                                 4.0            Adjourn Meeting                   Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
PUBLIC STORAGE INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 PSAPRG         CUSIP9 74460D729                  05/03/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect B. Wayne Hughes             Mgmt        For       For        For
                                 1.2            Elect Ronald Havner Jr.           Mgmt        For       For        For
                                 1.3            Elect Harvey Lenkin               Mgmt        For       Withhold   Against
                                 1.4            Elect Dann V. Angeloff            Mgmt        For       Withhold   Against
                                 1.5            Elect William C. Baker            Mgmt        For       For        For
                                 1.6            Elect John T. Evans               Mgmt        For       For        For
                                 1.7            Elect Uri P. Harkham              Mgmt        For       For        For
                                 1.8            Elect B. Wayne Hughes Jr.         Mgmt        For       For        For
                                 1.9            Elect Gary E. Pruitt              Mgmt        For       For        For
                                 1.10           Elect Daniel C. Staton            Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              2007 Equity and                   Mgmt        For       For        For
                                                Performance-Based Incentive
                                                Compensation
                                 4              Reorganization from               Mgmt        For       Against    Against
                                                California to Maryland
                                 5              Right to Adjourn Meeting          Mgmt        For       Against    Against


----------------------------------------------------------------------------------------------------------------------------------
RAMCOGERSHENSON PROPERTIES TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 RPT            CUSIP9 751452202                  06/05/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Dennis E. Gershenson        Mgmt        For       For        For
                                 1.2            Elect Robert A. Meister           Mgmt        For       For        For
                                 1.3            Elect Michael A. Ward             Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
RECKSON ASSOCIATES REALTY
CORP.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 RA             CUSIP9 75621K106                  12/06/2006            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Special        United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.0            Approve Merger Agreement          Mgmt        For       For        For
                                 2.0            Adjourn Meeting                   Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
REGENCY CENTERS CORP.
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 REGPRC         CUSIP9 758849103                  05/01/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Martin Stein, Jr.           Mgmt        For       For        For
                                 1.2            Elect Raymond  Bank               Mgmt        For       For        For
                                 1.3            Elect C. Ronald Blankenship       Mgmt        For       For        For
                                 1.4            Elect A. R. Carpenter             Mgmt        For       Withhold   Against
                                 1.5            Elect J. Dix Druce Jr.            Mgmt        For       For        For
                                 1.6            Elect Mary Lou Fiala              Mgmt        For       For        For
                                 1.7            Elect Bruce  Johnson              Mgmt        For       Withhold   Against
                                 1.8            Elect Douglas Luke                Mgmt        For       For        For
                                 1.9            Elect John Schweitzer             Mgmt        For       For        For
                                 1.10           Elect Thomas  Wattles             Mgmt        For       For        For
                                 1.11           Elect Terry  Worrell              Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
SIMON PROPERTY GROUP INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 SPGPRF         CUSIP9 828806109                  05/10/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Birch Bayh                  Mgmt        For       Withhold   Against
                                 1.2            Elect Melvyn Bergstein            Mgmt        For       For        For
                                 1.3            Elect Linda Bynoe                 Mgmt        For       For        For
                                 1.4            Elect Karen Horn                  Mgmt        For       Withhold   Against
                                 1.5            Elect Reuben Leibowitz            Mgmt        For       For        For
                                 1.6            Elect J. Albert Smith, Jr.        Mgmt        For       For        For
                                 1.7            Elect Pieter Van Den Berg         Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              TO CONSIDER AND VOTE ON A         ShrHoldr    Against   Against    For
                                                STOCKHOLDER PROPOSAL TO LINK
                                                PAY TO PERFORMANCE.
                                 4              Shareholder Proposal              ShrHoldr    Against   For        Against
                                                Regarding Executive Compensation
                                 5              Shareholder Proposal              ShrHoldr    Against   For        Against
                                                Regarding Future Severance Agreements


----------------------------------------------------------------------------------------------------------------------------------
SOVRAN SELF STORAGE INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 SSS            CUSIP9 84610H108                  05/21/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Robert Attea                Mgmt        For       Withhold   Against
                                 1.2            Elect Kenneth Myszka              Mgmt        For       For        For
                                 1.3            Elect John Burns                  Mgmt        For       For        For
                                 1.4            Elect Michael Elia                Mgmt        For       For        For
                                 1.5            Elect Anthony Gammie              Mgmt        For       Withhold   Against
                                 1.6            Elect Charles Lannon              Mgmt        For       For        For
                                 2              Ratification of Auditors          Mgmt        For       For        For


----------------------------------------------------------------------------------------------------------------------------------
TANGER FACTORY OUTLET CENTERS
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 SKTPRC         CUSIP9 875465106                  05/30/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Stanley K. Tanger           Mgmt        For       For        For
                                 1.2            Elect Steven B. Tanger            Mgmt        For       For        For
                                 1.3            Elect Jack Africk                 Mgmt        For       For        For
                                 1.4            Elect William G. Benton           Mgmt        For       For        For
                                 1.5            Elect Thomas Robinson             Mgmt        For       Withhold   Against
                                 1.6            Elect Allan Schuman               Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       Against    Against
                                 3              Increase in Authorized Common     Mgmt        For       Against    Against
                                                Stock
                                 4              Authorization of Preferred        Mgmt        For       For        For
                                                Stock


----------------------------------------------------------------------------------------------------------------------------------
TANGER FACTORY OUTLET CENTERS
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 SKTPRC         CUSIP9 875465403                  05/30/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1              Authorization of Preferred        Mgmt        For       For        For
                                                Stock


----------------------------------------------------------------------------------------------------------------------------------
U-STORE-IT TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 YSI            CUSIP9 91274F104                  05/08/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Thomas Commes               Mgmt        For       Withhold   Against
                                 1.2            Elect John C. (Jack)              Mgmt        For       For        For
                                                Dannemiller
                                 1.3            Elect William Diefenderfer,       Mgmt        For       Withhold   Against
                                                III
                                 1.4            Elect Harold Haller, PhD          Mgmt        For       For        For
                                 1.5            Elect Dean Jernigan               Mgmt        For       For        For
                                 1.6            Elect Marianne Keler              Mgmt        For       For        For
                                 1.7            Elect David LaRue                 Mgmt        For       Withhold   Against
                                 2              APPROVAL OF THE U-STORE-IT        Mgmt        For       For        For
                                                TRUST 2007 EQUITY INCENTIVE
                                                PLAN


----------------------------------------------------------------------------------------------------------------------------------
VENTAS INC
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 VTR            CUSIP9 92276F100                  05/16/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Debra A. Cafaro             Mgmt        For       For        For
                                 1.2            Elect Douglas Crocker, ll         Mgmt        For       For        For
                                 1.3            Elect Jay Gellert                 Mgmt        For       For        For
                                 1.4            Elect Ronald G. Geary             Mgmt        For       For        For
                                 1.5            Elect Christopher Hannon          Mgmt        For       For        For
                                 1.6            Elect Sheli Rosenberg             Mgmt        For       For        For
                                 1.7            Elect Thomas Theobald             Mgmt        For       For        For
                                 2              Ratification of Auditor           Mgmt        For       For        For
                                 3              Increase in Authorized Common     Mgmt        For       For        For
                                                Stock
                                 4              Amendment to the Certificate      Mgmt        For       For        For
                                                of Incorporation to Limit
                                                Ownership of Stock


----------------------------------------------------------------------------------------------------------------------------------
VORNADO REALTY TRUST
                                 TICKER         SECURITY ID:                      MEETING DATE          MEETING STATUS
                                 VNO            CUSIP9 929042109                  05/22/2007            Voted
                                 MEETING TYPE   COUNTRY OF TRADE
                                 Annual         United States
                                 ISSUE NO.      DESCRIPTION                       PROPONENT   MGMT REC  VOTE CAST  FOR/AGNST
                                                                                                                   MGMT
                                 1.1            Elect Robert Kogod                Mgmt        For       Withhold   Against
                                 1.2            Elect David Mandelbaum            Mgmt        For       For        For
                                 1.3            Elect Richard West                Mgmt        For       For        For
                                 2              RATIFICATION OF SELECTION OF      Mgmt        For       For        For
                                                INDEPENDENT REGISTERED PUBLIC
                                                ACCOUNTING FIRM.
                                 3              SHAREHOLDER PROPOSAL              ShrHoldr    Against   For        Against
                                                REGARDING MAJORITY VOTING FOR
                                                TRUSTEES.





                                   SIGNATURES

     Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


Neuberger Berman Realty Income Fund Inc.


By: /s/ Peter E. Sundman
   --------------------------------
     Peter E. Sundman
     Chief Executive Officer

Date: August 27, 2007