Real Estate Index Trust (REITS)

as of 09/30/09

Real Estate Investment Trusts (REITS) is a security that sells like stock on the major exchanges but invests in real estate directly, either through properties or mortgages. Among other things, REITS invest in shopping malls, office buildings, apartments, warehouses and hotels.

Internally managed by NMERB Staff	Commitment	RE Funded
Real Estate Investment Trusts (REITS)	$275
Manager - Private Real Estate	RE Commitment
Guggenheim Structure Real Estate III, LP	$ 5	$ 5
GSR3LP	$ 20	$ 11
Greenfield	$ 25	$ 4
AMB Institutional Alliance REIT III	$ 20	$ 12
AMB Institutional Alliance Europe Fund I	$ 7	$ 7
Prima Mortgage Investment Trust, LLC	$ 50	$ 42
NM ORG Secondary Opportunity Fund	$ 25	none
Lone Star Real Estate Fund II, LP	$ 25	none
Lone Star Fund VII, LP	$ 25	none
Lionstone Cash Flow Real Estate, LP	$ 30	none
Total RE Commitments	$ 232 Million	$ 81
values in millions