DB RREEF Trust Property Synopsis 2006 Contents

DB RREEF Trust property synopsis 2006 contents

introduction 1 summary of properties 2 maps 12 office portfolio – australia and new zealand 16 car park portfolio – australia 25 industrial portfolio – australia 28 industrial portfolio – united states 43 industrial portfolio – france 77 retail portfolio – australia 80 index 83 directory 85

FRONT COVER: GPT/GMT Complex and Terraces, 1 Farrer Place, Sydney NSW ABOVE: 309–321 Kent Street, Sydney NSW

introduction

overview of DB RREEF Trust

DB RREEF TRUST IS A MAJOR DIVERSIFIED LISTED PROPERTY TRUST WITH INVESTMENTS IN AUSTRALIA, NEW ZEALAND, FRANCE AND THE UNITED STATES. DB RREEF TRUST IS CURRENTLY THE SIXTH LARGEST LPT ON THE AUSTRALIAN STOCK EXCHANGE (ASX). DB RREEF TRUST IS A TOP 60 LISTED CORPORATE ON THE ASX WITH A TOTAL MARKET CAPITALISATION OF APPROXIMATELY $4.1 BILLION AS AT 30 JUNE 2006.

DB RREEF Trust is an integrated real estate platform with two core operating activities: direct property portfolio of approximately $7.8 billion1 as at 30 June 2006; and 50 percent share in DB RREEF Funds Management Limited, a property funds management business, with the remaining 50 percent owned by Deutsche Bank. DB RREEF Funds Management Limited is responsible for managing DB RREEF Trust’s entire direct property portfolio, as well as DB RREEF RENTS Trust and approximately $3.9 billion of funds under management through three syndicates, two direct property mandates and a wholesale property fund (under delegation). These combine to give DB RREEF Funds Management Limited total funds under management of approximately $11.8 billion, making it one of Australia’s larger property fund managers. DB RREEF Funds Management Limited is Australian based, with access to global real estate investment opportunities and expertise through its strategic relationship with Deutsche Bank and RREEF.

objectives The primary objective of DB RREEF Trust is to maximise total returns to investors through active management within appropriate risk parameters and to provide a combination of income and capital growth over the medium to long term. DB RREEF Trust will seek to capitalise on RREEF’s global strengths specialising in sourcing international investment opportunities, coupled with an integrated business model making available global property development and property management expertise to DB RREEF Trust. The RREEF business platform focuses on the office and industrial markets globally, and retail assets where strong partnerships present the opportunity to add value.

1 Since that date, the acquisition of a portfolio of six properties in France was settled in July 2006, totalling A$120 million.

DB RREEF Trust Property Synopsis 2006 1 summary of properties

Property Location Building type Ownership at Net lettable 30 June 2006 area adjusted (%) for ownership (’000 sqm)

Australian Office Garema Court, 140–180 City Walk, Civic, Canberra ACT A-grade – Office 100 11.419 14 Moore Street, Civic, Canberra ACT B-grade – Office 100 10.895 The Zenith, 821–843 Pacific Highway, Chatswood NSW A-grade – Office 100 44.333 Victoria Cross, 60 Miller Street, North Sydney NSW A-grade – Office 100 14.523 Ferguson Centre, 130 George Street, Parramatta NSW B-grade – Office 100 19.895 O’Connell House, 15–19 Bent Street, Sydney NSW B-grade – Office 100 9.871 1–7 Bligh Street, Sydney 2 NSW B-grade – Office 50 2.218 9–13 Bligh Street, Sydney 2 NSW B-grade – Office 50 1.555 45 Clarence Street, Sydney NSW A-grade – Office 100 32.176 201–217 Elizabeth Street, Sydney NSW A-grade – Office 50 19.574 GPT/GMT Complex and Terraces, NSW Premium Grade – Office 50 43.402 1 Farrer Place, Sydney Australia Square Complex, NSW A-grade – Office 50 26.253 264–278 George Street, Sydney 30 The Bond, 30–34 Hickson Road, Sydney NSW A-grade – Office 100 19.770 309–321 Kent Street, Sydney NSW A-grade – Office 50 23.536 383–395 Kent Street, Sydney (Office) NSW A-grade – Office 100 18.051 One Margaret Street, Sydney NSW A-grade – Office 100 20.915 44 Market Street, Sydney NSW A-grade – Office 100 30.291 2 O’Connell Street, Sydney 2 NSW B-grade – Office 50 1.980 4 O’Connell Street, Sydney 2 NSW B-grade – Office 50 3.649 Flinders Gate Complex, 172 Flinders Street VIC B-grade – Office 100 8.796 (and 189 Flinders Lane), Melbourne 8 Nicholson Street, Melbourne VIC A-grade – Office 100 23.528 Southgate Complex, 3 Southgate Avenue, Southbank VIC A-grade – Office 100 76.315 Woodside Plaza, 240 St George’s Terrace, Perth WA Premium Grade – Office 100 47.189

New Zealand Office Lumley Centre, 88 Shortland Street, Auckland NZ Premium Grade – Office 100 19.851

Car Parks 383–395 Kent Street, Sydney (Car Park) NSW Car Park 100 – Albert and Charlotte Streets, Brisbane QLD Car Park 100 – 32–44 Flinders Street, Melbourne VIC Car Park 100 – Flinders Gate Car Park, 172–189 Flinders Street, Melbourne VIC Car Park 100 – 34–60 Little Collins Street, Melbourne VIC Car Park 100 –

Australian Industrial 52 Holbeche Road, Arndell Park NSW Distribution Centre 100 9.814 79–97 St Hilliers Road, Auburn NSW Business Park 100 24.464 3 Brookhollow Avenue, Baulkham Hills NSW Business Park 100 13.422 1 Garigal Road, Belrose NSW Business Park 100 12.583 2 Minna Close, Belrose NSW Business Park 100 13.626 3–7 Bessemer Street, Blacktown NSW Distribution Centre 100 8.033 30–32 Bessemer Street, Blacktown NSW Distribution Centre 100 14.652 114–120 Old Pittwater Road, Brookvale NSW Business Park 100 30.645 2 Alspec Place, Eastern Creek NSW Distribution Centre 100 16.875 145–151 Arthur Street, Flemington NSW Business Park 100 19.183

DB RREEF Trust Property Synopsis 2006 2 Acquisition Book value at Independent Independent Market Leased Weighted AIFRS AGAAP date 30 June 2006 valuation date valuation cap rate by area lease term Net income Net income (A$m) (A$m) (%) (%) by income 12 months to 12 months to (years) 30 June 2006 30 Jun 2006 (A$m) (A$m)

Aug 00 52.0 Jun 06 52.0 7.75 100 5.5 4.1 4.1 May 02 38.0 Apr 05 36.3 8.75 100 2.8 3.3 3.3 Dec 98 217.0 Jun 04 216.0 7.75 99 3.0 18.2 19.3 Dec 98 95.0 Dec 05 90.0 7.25 99 3.5 5.7 5.9 May 97 80.0 Jun 06 80.0 7.50 98 7.8 3.4 4.2 Aug 00 54.4 Sep 04 55.5 8.00 97 1.7 4.3 4.5 Dec 03 7.4 Sep 04 10.5 7.20 81 1.4 0.3 0.3 Sep 01 4.3 Sep 04 5.5 8.00 71 1.6 1.1 1.1 Dec 98 228.0 Jun 05 195.0 7.00 98 6.1 10.0 11.7 Aug 00 122.0 Dec 04 117.0 7.25 89 4.2 6.9 6.9 Dec 98 575.0 Dec 04 512.5 6.60 100 7.5 33.6 34.5

Aug 00 226.0 Jun 05 184.0 7.13 99 5.5 11.3 12.4

May 02 150.0 Jun 06 150.0 6.50 100 7.6 10.0 9.3 Dec 98 165.0 Dec 05 139.3 7.06 99 8.1 8.0 8.2 Sep 87 115.0 Jun 06 115.0 6.75 97 4.3 6.8 7.7 Dec 98 152.0 Jun 05 139.0 7.00 99 7.2 9.9 10.2 Sep 87 185.0 Jun 06 185.0 6.50 96 4.1 10.3 10.9 Sep 01 9.6 Sep 04 7.8 8.00 84 1.2 0.8 0.8 Sep 01 15.1 Sep 04 12.0 8.00 50 1.2 0.4 0.4 Mar 99 18.0 Jun 06 18.0 8.00 86 1.9 1.2 1.2

Nov 93 98.0 Jun 05 91.8 7.25 100 7.0 7.5 7.5 Aug 00 390.0 Jun 05 361.0 7.00 99 3.7 29.8 30.0 Jan 01 315.0 Jun 06 315.0 6.50 100 11.4 19.6 18.7

Aug 04 101.2 Dec 05 100.0 7.50 100 10.6 6.6 6.6

Sep 87 60.0 Jun 06 60.0 6.75 100 10.0 4.0 4.0 Oct 84 38.5 Jun 06 38.5 7.50 100 10.0 2.8 2.9 Jun 98 32.5 Jun 06 32.5 8.00 100 10.0 3.3 3.3 Mar 99 39.0 Jun 06 39.0 8.25 100 10.0 3.9 3.9 Nov 84 37.5 Jun 06 37.5 8.75 100 10.0 3.7 3.7

Jul 98 12.5 Dec 05 12.5 8.25 100 2.1 1.0 1.0 Sep 97 41.7 Jun 05 41.0 8.00 100 3.4 3.3 3.3 Dec 02 43.3 Dec 05 42.4 8.00 100 2.6 3.4 3.4 Dec 98 31.9 Dec 04 27.4 8.50 100 4.2 2.5 2.5 Dec 98 33.7 Dec 04 32.4 8.50 100 4.0 2.9 2.9 Jun 97 10.2 Sep 03 10.1 8.75 100 3.4 0.8 0.8 May 97 17.9 Jun 06 17.9 8.00 100 4.2 1.2 1.2 Sep 97 45.5 Jun 06 45.5 7.84 100 2.5 3.5 3.6 Mar 04 23.6 Jan 04 23.1 7.75 100 8.8 1.9 1.9 Sep 97 34.1 Jun 05 31.0 8.00 100 3.7 3.3 3.3

DB RREEF Trust Property Synopsis 2006 3 summary of properties (continued)

Property Location Building type Ownership at Net lettable 30 June 2006 area adjusted (%) for ownership (’000 sqm)

Australian Industrial 436–484 Victoria Road, Gladesville NSW Business Park 100 19.892 1 Foundation Place, Greystanes NSW Industrial Estate 100 30.746 27–29 Liberty Road, Huntingwood NSW Distribution Centre 100 6.829 706 Mowbray Road, Lane Cove NSW Business Park 100 17.364 11 Talavera Road, Macquarie Park NSW Office Park 100 36.175

40–50 Talavera Road, Macquarie Park NSW Business Park 100 12.915 Kings Park Industrial Estate, Vardys Road, Marayong NSW Industrial Estate 100 66.680 154 O’Riordan Street, Mascot NSW Industrial Estate 100 8.156 1–15 Rosebery Avenue, Rosebery NSW Business Park 100 27.992 25–55 Rothschild Avenue, Rosebery NSW Business Park 100 16.284 10–16 South Street, Rydalmere NSW Industrial Estate 100 34.650 DB RREEF Industrial Estate, Egerton Street, Silverwater NSW Business Park 100 29.335 19 Chifley Street, Smithfield NSW Industrial Estate 100 18.288 239–251 Woodpark Road, Smithfield NSW Distribution Centre 100 5.187 12 Frederick Street, St Leonards NSW Business Park 100 19.245 2a Birmingham Street, Villawood (sold May 06) 3 NSW Distribution Centre 0 40 Biloela Street, Villawood NSW Distribution Centre 100 7.264 27–33 Frank Street, Wetherill Park NSW Distribution Centre 100 13.828 30 Bellrick Street, Acacia Ridge QLD Distribution Centre 100 17.801 121 Evans Road, Salisbury QLD Distribution Centre 100 24.774 25 Donkin Street, West End Brisbane QLD Business Park 100 11.163 15–23 Whicker Road, Gillman SA Distribution Centre 100 72.115 Target Distribution Centre, Tarras Road, Altona North VIC Distribution Centre 100 41.447 114 Fairbank Road, Clayton VIC Distribution Centre 100 18.200 Pound Road West, Dandenong VIC Industrial Estate 100 74.642 Redwood Gardens Industrial Estate, Boundary Road, Dingley VIC Industrial Estate 100 34.573 352 Macaulay Road, Kensington VIC Industrial Estate 100 6.357 Knoxfield Industrial Estate, Henderson Road, Knoxfield VIC Distribution Centre 100 48.548 250 Forest Road South, Lara VIC Distribution Centre 100 117.294 DB RREEF Industrial Estate, Boundary Road, Laverton North VIC Industrial Estate 100 20.287 Axxess Corporate Park, Cnr Ferntree Gully and Gilby Roads, VIC Industrial Estate 100 84.108 Mount Waverley 68 Hasler Road, Herdsman WA Business Park 100 4.703 Australian Retail

Westfield Hurstville, 262–264 Forest Road and 292 Forest Road, NSW Major Regional 50 32.667 Hurstville Shopping Centre Westfield Mount Druitt, Cnr Carlisle and Luxford Roads, NSW Regional Shopping 50 30.066 Mount Druitt2 Centre Westfield North Lakes, Cnr Anzac Avenue and North Lakes Drive, QLD Regional Shopping 50 12.832 Mango Hill Centre Westfield West Lakes Shopping Centre, 11 West Lakes Boulevarde, SA Regional Shopping 50 30.648 West Lakes Centre Plenty Valley Town Centre, McDonalds Road, South Morang VIC Neighbourhood 50 3.115 Shopping Centre Westfield Whitford City Shopping Centre, Whitford Avenue and WA Regional Shopping 50 38.163 Lot 6, Endeavour Road, Hillarys Centre/Bulky goods

DB RREEF Trust Property Synopsis 2006 4 Acquisition Book value Independent Independent Market Leased Weighted AIFRS AGAAP date at valuation date valuation cap rate by area lease term Net income Net income 30 June (A$m) (%) (%) by income 12 months to 12 months to 2006 (years) 30 June 2006 30 Jun 2006 (A$m) (A$m) (A$m)

Sep 97 48.5 Dec 04 43.0 8.50 100 4.4 3.9 3.9 Dec 02 46.0 Jun 06 46.0 7.50 100 6.4 3.3 3.3 Jul 98 9.0 Jun 06 9.0 8.00 100 3.5 0.7 0.7 Sep 97 26.2 Jun 06 26.2 8.50 85 6.0 1.6 1.6 75% Apr 02 145.5 Jun 06 145.5 7.50 99 4.0 9.6 9.9 +25% Jun 02 Oct 02 32.5 Apr 05 28.5 8.25 100 3.4 2.4 2.7 May 90 93.0 Jun 06 93.0 7.75 100 4.3 6.5 6.5 Jun 97 14.6 Jun 04 13.7 7.75 100 2.0 0.9 0.9 Apr 98 56.4 Dec 05 56.1 7.75 100 2.9 4.5 4.5 Oct 01 36.7 Dec 05 36.7 7.50 100 6.6 2.7 2.7 Sep 97 44.7 Jun 04 42.0 8.75 97 2.3 3.5 3.6 May 97 43.9 Dec 05 42.0 8.00 100 3.4 3.5 3.5 Dec 98 17.5 Dec 05 17.2 8.50 100 2.7 1.2 1.2 May 97 6.5 Jun 06 6.5 8.00 100 3.6 0.5 0.5 Jul 00 35.7 Jun 05 31.5 8.50 92 2.3 2.6 2.6 0.8 0.8 Jul 97 8.8 Jun 06 8.8 7.50 100 2.9 0.6 0.6 Jul 98 13.2 Jun 06 13.2 7.75 100 0.5 1.4 1.4 Jun 97 18.7 Dec 05 17.4 8.25 100 1.2 1.3 1.3 Jul 97 24.0 Dec 05 21.0 8.25 100 3.9 1.7 1.7 Dec 98 23.6 Jun 05 20.7 8.25 93 1.8 1.5 1.6 Dec 02 24.6 Jun 05 21.3 9.75 100 6.0 2.0 2.0 Oct 95 36.5 Jun 05 35.0 8.00 100 5.8 3.2 3.2 Jul 97 12.8 Jun 06 12.8 8.25 100 0.0 1.2 1.2 Jan 04 58.0 Jun 05 56.3 8.20 100 5.0 4.5 4.5 Dec 94 28.9 Jun 06 28.9 7.63 100 3.5 1.9 1.9 Oct 98 8.9 Dec 05 8.9 7.75 100 1.8 0.6 0.6 Aug 96 37.1 Jun 06 37.1 8.00 100 2.7 2.9 2.9 Dec 02 40.9 Jun 05 34.6 9.75 100 6.0 3.6 3.6 Jul 02 97.9 Jun 04 23.7 7.75 100 15.2 1.1 1.2 Oct 96 170.0 Dec 05 147.8 7.83 97 5.4 9.8 9.9

Jul 98 9.5 Jun 04 8.0 8.50 100 3.3 0.6 0.7

May 05 260.0 Feb 05 232.5 6.75 100 3.9 16.3 16.6

Aug 04 182.5 Jun 06 182.5 6.50 99 5.9 11.8 6 12.1

Aug 04 77.2 Jun 04 60.3 7.50 100 6.7 3.4 4.0

Nov 98 143.0 Dec 05 131.0 7.00 99 5.4 8.9 9.6

Nov 99 20.2 Jun 04 9.2 7.75 100 7.1 0.9 0.9

Oct 84/ 232.5 Dec 05 210.0 6.75 99 5.0 13.5 13.9 Dec 92

DB RREEF Trust Property Synopsis 2006 5 summary of properties (continued)

Property Location Building type Ownership at Net lettable 30 June 2006 area adjusted (%) for ownership (’000 sqm)

US Industrial

3765 Atlanta Industrial Drive, Atlanta US Distribution Centre 80 12.038 7100 Highlands Parkway, Atlanta US Business Park 80 11.148 Stone Mountain, Atlanta US Industrial Estate 80 9.971 Town Park Drive, Atlanta US Business Park 80 9.022 Williams Drive, Atlanta US Distribution Centre 80 15.483 Bristol Court, Baltimore US Distribution Centre 80 9.890 Cabot Techs, Baltimore US Business Park 80 9.711 Fort Holabird Industrial, Baltimore US Distribution Centre 80 12.812 9112 Guilford Road, Baltimore US Business Park 80 4.090 MD Food Park, Baltimore US Distribution Centre 80 33.735 NE Baltimore, Baltimore US Industrial Estate 80 8.083 Patuxent Range Road, Baltimore US Business Park 80 11.287 8155 Stayton Drive, Baltimore US Industrial Estate 80 9.340 West Nursery, Baltimore US Industrial Estate 80 6.551 10 Kenwood Circle, Boston US Distribution Centre 80 11.399 9900 Brookford Street, Charlotte US Distribution Centre 80 9.067 Commerce Park, Charlotte US Distribution Centre 80 14.317 Westinghouse, Charlotte US Distribution Centre 80 42.255 Airport Exchange, Cincinnati/North Kentucky US Distribution Centre 80 5.035 124 Commerce, Cincinnati/North Kentucky US Distribution Centre 80 2.572 Empire Drive, Cincinnati/North Kentucky US Distribution Centre 80 14.636 International Way, Cincinnati/North Kentucky US Industrial Estate 80 22.297 Kentucky Drive, Cincinnati/North Kentucky US Industrial Estate 80 25.818 Kenwood Road, Cincinnati/North Kentucky US Distribution Centre 80 57.232 Lake Forest Drive, Cincinnati/North Kentucky US Distribution Centre 80 30.993 Spiral Drive, Cincinnati/North Kentucky US Business Park 80 4.575 Turfway Road, Cincinnati/North Kentucky US Industrial Estate 80 8.320 World Park, Cincinnati/North Kentucky US Distribution Centre 80 29.491 Equity/Westbelt/Dividend, Columbus US Industrial Estate 80 68.354 2700 International Street, Columbus US Industrial Estate 80 11.356 SE Columbus, Columbus US Distribution Centre 80 26.838 3800 Twin Creeks Drive, Columbus US Industrial Estate 80 13.081 10th Street, Dallas US Industrial Estate 80 15.380 455 Airline Drive, Dallas US Industrial Estate 80 5.574 555 Airline Drive, Dallas US Industrial Estate 80 4.202 Arlington, Dallas US Business Park 80 9.708 820–860 Avenue F, Dallas US Business Park 80 5.432 1413 Bradley Lane, Dallas US Business Park 80 4.202 Capital Avenue, Dallas US Industrial Estate 80 7.472

DB RREEF Trust Property Synopsis 2006 6

100% Acquisition Book value at Independent Independent Market Leased Weighted Net income US assets date 30 June 2006 valuation date valuation cap rate by area lease term 12 months to lettable area (A$m) (A$m) (%) (%) by income 30 June 2006 (’000 sf) (years) (A$m)

162.0 Sep 04 4.0 Jun 06 4.0 8.25 100 0.9 0.4 150.0 Sep 04 15.1 Jun 06 15.1 8.00 100 1.0 1.3 134.2 Sep 04 5.3 Jun 06 5.3 9.00 87 3.0 0.3 121.4 Sep 04 8.5 Jun 06 8.5 8.00 95 2.6 0.6 208.3 Sep 04 10.6 Jun 06 10.3 8.25 91 3.4 0.7 133.1 Sep 04 12.8 Jun 06 12.2 8.00 71 2.3 0.5 130.7 Sep 04 29.9 Jun 06 29.9 8.00 100 4.1 2.0 172.4 Jun 05 12.3 Jun 06 12.1 8.15 92 2.4 0.9 55.0 Sep 04 10.8 Jun 06 10.8 7.50 100 8.6 0.7 453.9 Sep 04 27.0 Jun 06 25.1 8.00 70 2.2 1.3 108.8 Sep 04 9.0 Jun 06 9.0 8.25 95 4.2 0.5 151.9 Sep 04 13.9 Jun 06 13.9 8.00 83 2.9 0.9 125.7 Sep 04 8.5 Jun 06 8.5 8.00 100 3.2 0.6 88.1 Sep 04 9.3 Jun 06 8.8 8.50 99 6.0 0.5 153.4 Sep 04 11.9 Jun 06 11.9 8.00 100 1.7 1.0 122.0 Sep 04 4.0 Jun 06 4.0 9.00 100 1.1 0.4 192.6 Sep 04 7.8 Jun 06 7.8 8.75 87 1.3 0.6 568.5 Sep 04 21.0 Jun 06 19.9 8.75 77 2.4 1.1 67.7 Sep 04 4.0 Jun 06 4.0 8.75 80 1.8 0.3 34.6 Sep 04 2.7 Jun 06 2.7 8.50 100 4.6 0.2 196.9 Sep 04 6.8 Jun 06 6.1 9.50 49 2.5 0.3 300.0 Sep 04 11.6 Jun 06 11.6 8.75 100 8.3 0.9 347.4 Sep 04 13.0 Jun 06 13.0 8.75 100 1.7 1.0 770.1 Sep 04 18.2 Jun 06 17.9 9.25 89 1.8 1.8 417.0 Sep 04 13.2 Jun 06 13.2 9.00 100 2.9 1.1 61.6 Sep 04 4.8 Jun 06 4.8 9.00 83 6.1 0.4 111.9 Sep 04 5.1 Jun 06 5.1 9.25 100 1.9 0.5 396.8 Sep 04 12.3 Jun 06 12.3 8.50 100 2.6 0.5 919.7 Sep 04 40.1 Jun 06 40.1 8.00 96 4.0 3.8 152.8 Sep 04 4.2 Jun 06 4.2 8.00 100 5.4 0.2 361.1 Sep 04 13.0 Jun 06 13.0 8.00 93 7.6 0.6 176.0 Sep 04 5.4 Jun 06 5.4 8.00 100 2.8 0.3 206.9 Sep 04 10.6 Jun 06 10.3 8.00 88 2.4 0.5 75.0 Sep 04 4.1 Jun 06 4.1 7.50 100 5.3 0.3 56.5 Sep 04 7.4 Jun 06 7.0 7.50 72 1.5 0.3 130.6 Sep 04 9.8 Jun 06 9.8 8.00 100 4.7 0.5 73.1 Sep 04 7.7 Jun 06 7.7 8.00 92 3.5 0.7 56.5 Sep 04 3.1 Jun 06 3.0 8.25 100 2.2 0.3 100.5 Sep 04 6.1 Jun 06 6.1 8.00 100 5.7 0.3

DB RREEF Trust Property Synopsis 2006 7 summary of properties (continued)

Property Location Building type Ownership at Net lettable 30 June 2006 area adjusted (%) for ownership (’000 sqm)

US Industrial 1900 Diplomat Drive, Dallas US Business Park 80 6.151 2055 Diplomat Drive, Dallas US Business Park 80 3.967 East Collins, Dallas US Business Park 80 4.196 3601 East Plano/1000 Shiloh Road, Dallas US Industrial Estate 80 21.322 East Plano/2700 Summit, Dallas US Industrial Estate 80 22.788 Hillguard, Dallas US Industrial Estate 80 18.421 North Lake, Dallas US Distribution Centre 80 17.124 11011 Regency Crest Drive, Dallas US Distribution Centre 80 13.128 CTC at Valwood, Dallas US Business Park 80 3.470 Garland Jupiter, Garland, Dallas 4,5 US Land 80 Plano Parkway, Plano, Dallas 4,5 US Land 80 Brackbill, Harrisburg US Distribution Centre 80 36.745 181 Fulling Mill Road, Harrisburg US Distribution Centre 80 13.824 Mechanicsburg, Harrisburg US Distribution Centre 80 28.079 14555 Alondra/6530 Altura, Los Angeles US Distribution Centre 80 22.627 Glendale, Los Angeles US Industrial Estate 80 33.519 14489 Industry Circle, Los Angeles US Distribution Centre 80 8.394 San Fernando Valley, Los Angeles US Industrial Estate 80 13.500 Memphis Industrial, Memphis US Distribution Centre 80 24.978 Turnpike Distribution Center, Miami 4 US Distribution Centre 80 19.927 Braemar Ridge, Minneapolis 4 US Business Park 100 6.888 Brooklyn Park Interstate Center, Minneapolis 4 US Distribution Centre 100 8.522 Eagandale Business Campus, Minneapolis 4 US Business Park 100 22.308 Oak Park Business Center, Minneapolis 4 US Business Park 100 3.729 7401 Cahill Road, Minneapolis US Industrial Estate 80 3.404 2950 Lexington Avenue South, Minneapolis US Distribution Centre 80 13.707 8575 Monticello Lane, Minneapolis US Distribution Centre 80 3.005 Mounds View, Minneapolis US Distribution Centre 80 23.864 6105 Trenton Lane, Minneapolis US Distribution Centre 80 9.070 Alexandria, Northern Virginia/Washington DC US Industrial Estate 80 28.875 Beaumeade Telecom, Northern Virginia/Washington DC US Business Park 80 12.223 Calvert/Murry’s, Northern Virginia/Washington DC US Industrial Estate 80 6.140 CTC at Dulles, Northern Virginia/Washington DC US Business Park 80 7.693 Guilford, Northern Virginia/Washington DC US Business Park 80 13.175 Nokes Boulevard, Northern Virginia/Washington DC US Business Park 80 12.424 Beaumeade, Ashburn, Northern Virginia/Washington DC 4,5 US Land 80 Dulles Town Crossing, Sterling, Northern Virginia/Washington DC 4,5 US Office Park 80 7500 Exchange Drive, Orlando US Industrial Estate 80 8.601 Orlando Central Park, Orlando US Industrial Estate 80 94.746 844 44th Avenue, Phoenix US Distribution Centre 80 10.746 1858 East Encanto Drive, Phoenix US Distribution Centre 80 6.081 3802–3922 East University Drive, Phoenix US Business Park 80 8.152 431 North 47th Avenue, Phoenix US Distribution Centre 80 12.129 220 South 9th Street, Phoenix US Distribution Centre 80 6.646

DB RREEF Trust Property Synopsis 2006 8

100% Acquisition Book value at Independent Independent Market Leased Weighted Net income US assets date 30 June 2006 valuation date valuation cap rate by area lease term 12 months to 30 lettable area (A$m) (A$m) (%) (%) by income June 2006 (A$m) (’000 sf) (years)

82.8 Sep 04 5.0 Jun 06 5.0 8.00 100 6.4 0.4 53.4 Sep 04 3.9 Jun 06 3.9 8.50 100 0.0 0.0 56.5 Sep 04 4.0 Jun 06 4.0 8.00 100 5.8 0.2 286.9 Sep 04 16.0 Jun 06 15.0 8.25 68 6.1 0.1 306.6 Sep 04 22.7 Jun 06 22.7 8.25 96 2.1 2.1 247.9 Sep 04 9.7 Jun 06 9.4 8.25 79 3.9 0.5 230.4 Sep 04 13.9 Jun 06 13.9 8.00 100 9.9 1.0 176.6 Sep 04 7.2 Jun 06 6.2 8.25 43 2.4 0.3 46.7 Sep 04 4.8 Jun 06 4.8 8.00 100 4.2 0.3 Jun 06 3.6 n/a 0.0 n/a 0 0.0 0.0 Jun 06 2.2 n/a 0.0 n/a 0 0.0 0.0 494.4 Sep 04 26.9 Jun 06 26.9 8.00 100 1.4 2.3 186.0 Sep 04 9.7 Jun 06 9.7 8.00 100 6.2 0.5 377.8 Sep 04 20.6 Jun 06 20.6 8.00 100 8.2 1.6 304.4 Sep 04 25.1 Jun 06 25.1 7.00 100 1.9 1.7 451.0 Sep 04 69.4 Jun 06 67.3 8.00 78 3.1 3.2 112.9 Sep 04 10.4 Jun 06 10.4 7.00 100 1.5 0.8 181.6 Sep 04 21.0 Jun 06 21.0 7.00 100 2.5 1.4 336.1 Sep 04 10.3 Jun 06 10.3 9.25 100 1.8 1.0 268.1 Sep 05 12.9 n/a 0.0 n/a 0 0.0 0.0 74.1 Nov 05 8.4 Nov 05 8.5 8.75 100 2.1 0.5 91.7 Nov 05 6.9 Nov 05 7.2 8.75 100 3.0 0.3 240.1 Nov 05 21.0 Nov 05 20.3 8.75 78 3.3 0.9 40.1 Nov 05 3.3 Nov 05 3.6 8.75 69 2.3 0.1 45.8 Sep 04 3.2 Jun 06 3.2 8.25 47 7.2 (0.2) 184.4 Sep 04 10.7 Jun 06 9.9 8.25 67 4.3 0.7 40.4 Sep 04 2.5 Jun 06 2.5 8.25 100 4.5 0.1 321.1 Sep 04 23.3 Jun 06 23.0 8.25 94 3.9 1.6 122.0 Sep 04 8.6 Jun 06 8.6 8.25 100 2.9 0.6 388.5 Sep 04 59.3 Jun 06 58.2 8.00 91 4.4 3.7 164.5 Sep 04 44.1 Jun 06 44.1 7.50 100 9.5 2.6 82.6 Sep 04 5.9 Jun 06 5.9 8.00 100 3.4 0.5 103.5 Sep 04 32.3 Jun 06 32.3 7.25 100 7.4 2.4 177.3 Sep 04 26.9 Jun 06 26.9 7.50 95 2.8 1.7 167.2 Sep 04 31.2 Jun 06 31.2 7.00 100 2.8 1.8 Jun 06 3.3 n/a 0.0 n/a 0 0.0 0.0 Jun 06 5.5 n/a 0.0 n/a 0 0.0 0.0 115.7 Sep 04 6.8 Jun 06 6.8 8.50 100 3.1 0.3 1,274.8 Sep 04 73.2 Jun 06 73.2 7.50 94 2.9 4.8 144.6 Sep 04 8.7 Jun 06 8.7 7.25 100 5.3 0.6 81.8 Sep 04 5.8 Jun 06 5.8 8.50 100 3.6 0.4 109.7 Sep 04 11.0 Jun 06 10.7 8.75 88 1.5 0.7 163.2 Sep 04 8.3 Jun 06 8.3 7.50 100 0.4 0.6 89.4 Sep 04 9.3 Jun 06 9.3 7.50 100 4.3 0.6

DB RREEF Trust Property Synopsis 2006 9 summary of properties (continued)

Property Location Building type Ownership at Net lettable 30 June 2006 area adjusted (%) for ownership (’000 sqm)

US Industrial 1429–1439 South 40th Avenue, Phoenix US Distribution Centre 80 18.833 105–107 South 41st Avenue, Phoenix US Distribution Centre 80 28.627 601 South 55th Avenue, Phoenix US Distribution Centre 80 7.432 1000 South Priest Drive, Phoenix US Business Park 80 4.080 1120–1150 West Alameda Drive, Phoenix US Business Park 80 9.099 10397 West Van Buren Street, Phoenix US Distribution Centre 80 20.672 Chino, Riverside US Distribution Centre 80 7.774 4190 East Santa Ana Street, Riverside US Industrial Estate 80 7.342 12000 Jersey Court, Riverside US Distribution Centre 80 6.550 Mira Loma, Riverside US Distribution Centre 80 18.624 Ontario, Riverside US Industrial Estate 80 42.495 Rancho Cucamonga, Riverside US Industrial Estate 80 31.922 Airway Road, San Diego US Industrial Estate 80 9.152 5823 Newton Drive, San Diego US Business Park 80 13.357 2210 Oak Ridge Way, San Diego US Business Park 80 3.959 26507 79th Avenue South, Seattle US Business Park 80 2.666 Kent West, Seattle US Industrial Estate 80 29.934 8005 South 266th Street, Seattle US Distribution Centre 80 6.867 West Palm Beach, South Florida US Distribution Centre 80 10.957

Property Location Building type Ownership Net lettable (%) area adjusted for ownership (’000 sqm)

French Industrial Zone industrielle Epône II, 78680 Epône France Distribution Centre 100 10,880 32 avenue de l’Océanie, 91140 Villejust France Distribution Centre 100 16,070 21 rue du Chemin Blanc, 91160 Champlan France Distribution Centre 100 19,970 RN 19 ZAC de L’Ormes Rond, 77170 Servon France Distribution Centre 100 27,235 RN 19 ZAC de L’Ormes Rond, 77170 Servon France Distribution Centre 100 8,482 19 rue de Bretagne, 38070 Saint-Quentin Fallavier France Distribution Centre 100 26,646

Notes: 1 All data is based on 30 June 2006 values including future committed acquisitions and is represented in Australian dollars. Book value and valuation conversion rates as at 30 June 2006:AUD/USD 0.7433. Net income conversion rate:AUD/USD 0.6998. Book value and valuation conversion rates as at 30 June 2006:AUD/EUR 0.5841. 2 Properties are equity accounted. 3 Asset sold prior to 30 June 2006. 4 New acquisitions in the year to 30 June 2006. 5 Vacant land. 6 The income excludes $9.2 million attributable to the revaluation of the property.

DB RREEF Trust Property Synopsis 2006 10

253.4 Sep 04 12.9 Jun 06 12.9 7.25 100 1.7 0.8 385.2 Sep 04 19.3 Jun 06 18.9 7.50 91 2.2 1.2 100.0 Sep 04 5.8 Jun 06 5.8 7.50 100 2.9 0.4 54.9 Sep 04 6.5 Jun 06 6.5 8.50 100 1.9 0.5 122.4 Sep 04 9.3 Jun 06 9.3 8.50 100 5.4 0.2 278.1 Sep 04 14.1 Jun 06 14.1 7.25 100 0.5 0.8 104.6 Sep 04 9.6 Jun 06 9.6 7.00 100 3.2 0.5 98.8 Sep 04 8.6 Jun 06 8.6 7.00 100 0.6 0.4 88.1 Sep 04 7.6 Jun 06 7.6 7.00 100 2.7 0.4 250.6 Sep 04 21.8 Jun 06 21.8 7.00 100 0.9 1.0 571.8 Sep 04 49.5 Jun 06 49.5 7.00 100 1.8 2.6 429.5 Sep 04 38.0 Jun 06 38.0 7.00 100 2.6 2.2 123.1 Sep 04 13.5 Jun 06 13.5 8.00 88 3.3 1.0 179.7 Sep 04 24.2 Jun 06 24.2 7.75 100 3.0 1.5 53.3 Sep 04 7.2 Jun 06 7.2 7.75 100 2.7 0.5 35.9 Sep 04 3.2 Jun 06 3.2 7.50 100 1.6 0.2 402.8 Sep 04 32.7 Jun 06 32.3 7.75 90 7.7 0.8 92.4 Sep 04 8.4 Jun 06 8.4 7.50 100 4.1 0.7 147.4 Sep 04 25.9 Jun 06 25.9 7.50 100 4.1 1.8

Acquisition Book value Independent Independent Exit cap Leased Weighted date (¤m) valuation date valuation rate by area lease term (¤m) (%) (%) by income (years)

Jul 06 7.2 Jun 06 7.2 7.25 100 7.0 Jul 06 9.7 Jun 06 9.7 7.00 100 6.0 Jul 06 13.0 Jun 06 13.0 7.25 100 6.0 Jul 06 18.5 Jun 06 18.5 7.00 100 8.0 Jul 06 6.5 Jun 06 6.5 6.75 100 5.0 Jul 06 13.0 Jun 06 13.0 7.25 100 7.3

DB RREEF Trust Property Synopsis 2006 11 summary of properties (continued)

office 47,189m2 2.3% port/area $315m value 5.2% portfolio 1 property industrial 4,703m2 0.2% port/area $10m value 0.2% portfolio 1 property retail 76,326m2 3.7% port/area $233m value 3.8% portfolio 1 property

industrial retail 72,115m2 61,296m2 3.5% port/area 3.0% port/area $25m value $143m value 0.4% portfolio 2.3% portfolio 1 property 1 property

DB RREEF Trust Property Synopsis 2006 12 office/carpark industrial retail 0m2 53,738m2 25,664m2 0.0% port/area 2.6% port/area 1.2% port/area $39m value $66m value $77m value 0.6% portfolio 1.1% portfolio 1.3% portfolio 1 property 3 properties 1 property

office/carpark 454,153m2 22.1% port/area $2,461m value 40.3% portfolio 18 properties

industrial 534,127m2 office 26.0% port/area 19,851m2 $973m value 1.0% port/area 15.9% portfolio $101m value 27 properties 1.7% portfolio 1 property

retail 125,464m2 6.1% port/area $443m value 7.3% portfolio 2 properties

office/carpark 22,314m2 1.1% port/area $90m value 1.5% portfolio 2 properties

office/carpark industrial retail 108,639m2 445,455m2 6,230m2 5.3% port/area 21.7% port/area 0.3% port/area $615m value $491m value $20m value 10.1% portfolio 8.0% portfolio 0.3% portfolio 6 properties 9 properties 1 property

DB RREEF Trust Property Synopsis 2006 13 summary of properties (continued)

Seattle 531,032sf 2.6% port/area $33m value 3.1% port/value 3 properties

Los Angeles 1,050,011sf 5.1% port/area $94m value 8.7% port/value 4 properties

Riverside 1,543,375sf 7.6% port/area $100m value 9.3% port/value 6 properties

San Diego Phoenix Dallas 356,126sf 1,782,758sf 2,186,907sf 1.7% port/area 8.7% port/area 10.7% port/area $33m value $82m value $101m value Notes: 3.1% port/value 7.7% port/value 9.4% port/value 1 All values are in US dollars and adjusted for ownership. 3 properties 11 properties 16 properties 2 All areas represent 100 percent of the property. 3 Data does not include vacant land parcels.

DB RREEF Trust Property Synopsis 2006 14 Minneapolis Cincinnatti/ Columbus Nth Kentucky 1,159,933sf 1,609,599sf 5.7% port/area 2,704,023sf 7.9% port/area $65m value 13.2% port/area $47m value 6.1% port/value $68m value 4.3% port/value 9 properties 6.3% port/value 4 properties 10 properties Boston 153,369sf 0.8% port/area $9m value 0.8% port/value 1 property

Harrisburg 1,058,200sf 5.2% port/area $42m value 3.9% port/value 3 properties

Baltimore 1,419,460sf 6.9% port/area $99m value 9.2% port/value 9 properties

Nth Virginia 1,083,507sf 5.3% port/area $149m value 13.8% port/value 6 properties

Charlotte 883,176sf 4.3% port/area $24m value 2.3% port/value 3 properties

Atlanta 775,832sf 3.8% port/area $32m value 3.0% port/value 5 properties Memphis Orlando Sth Florida 336,080sf 1,390,530sf 415,550sf 1.6% port/area 6.8% port/area 2.0% port/area $8m value $59m value $29m value 0.7% port/value 5.5% port/value 2.7% port/value 1 property 2 properties 2 properties

DB RREEF Trust Property Synopsis 2006 15 office

GPT/GMT Complex and Terraces, 1 Farrer Place, Sydney NSW

DB RREEF Trust Property Synopsis 2006 16

Garema Court 14 Moore Street The Zenith 140–180 City Walk Civic, Canberra, ACT 821–843 Pacific Highway Civic, Canberra, ACT Chatswood, NSW The property is a 14 level office tower, which Garema Court is located on City Walk, Civic, in was built in 1986. The building underwent a A twin-tower office complex, this property Canberra’s CBD, close to Canberra’s shopping major refurbishment, which was completed in is located in the commercial precinct in precinct, bus interchange and major car parks. February 2002. Chatswood, between the Pacific Highway The property is located at 14 Moore Street in and the North Shore railway line. the north west quadrant of Civic, which is the The towers each have 21 levels of A-grade main financial precinct in Canberra and caters office accommodation. There is also ground for both public and private sector tenants. floor retail space, a 250 seat theatre and basement parking for 818 vehicles.

Details Details Details Building Type A-grade – Office Building Type B-grade – Office Building Type A-grade – Office Title Leasehold Title Leasehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1997 Year Built 1986 Year Built 1987 Site Area (ha) 0.2 Site Area (ha) 0.2 Site Area (ha) 0.8 Lettable Area (’000m2) 11.4 Lettable Area (’000m2) 10.9 Lettable Area (’000m2) 44.3 Typical Floor Area (m2) 1,625 Typical Floor Area (m2) 870 Typical Floor Area (m2) 1,050 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Car Parking Spaces 66 Car Parking Spaces 84 Car Parking Spaces 818 Acquisition Date Aug 2000 Acquisition Date May 2002 Acquisition Date Dec 1998 Acquisition Price plus Additions (A$’m) 43.4 Acquisition Price plus Additions (A$’m) 37.2 Acquisition Price plus Additions (A$’m) 193.1 Book Value (A$’m) 52.0 Book Value (A$’m) 38.0 Book Value (A$’m) 217.0 Independent Valuation Date Jun 2006 Independent Valuation Date Apr 2005 Independent Valuation Date Jun 2004 Independent Valuation (A$’m) 52.0 Independent Valuation (A$’m) 36.3 Independent Valuation (A$’m) 216.0 Capitalisation Rate (%) 7.75 Capitalisation Rate (%) 8.75 Capitalisation Rate (%) 7.75 Average Passing Rent (A$/m2) 368 G Average Passing Rent (A$/m2) 345 G Average Passing Rent (A$/m2) 349 Average Market Rent (A$/m2) 355 G Average Market Rent (A$/m2) 325 G Average Market Rent (A$/m2) 344 Initial Yield (%) 8.16 Initial Yield (%) 8.91 Initial Yield (%) 8.34 Discount Rate (%) 8.75 Discount Rate (%) 10.00 Discount Rate (%) 9.75 Major Tenant Commonwealth of Australia Major Tenant Commonwealth Major Tenant Optus Vision Pty Limited (DEWRSB) of Australia (Comcare) Occupancy (%) 99 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.0 Weighted Lease Term by Income (years) 5.5 Weighted Lease Term by Income (years) 2.8 Available (%) 1 Available (%) 0 Available (%) 0 Year 2007 (%) 4 Year 2007 (%) 0 Year 2007 (%) 5 Year 2008 (%) 43 Year 2008 (%) 11 Year 2008 (%) 40 Year 2009 (%) 20 Year 2009 (%) 3 Year 2009 (%) 44 Year 2010 (%) 17 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 3 Year 2011 (%) 2 Year 2011 (%) 0 Year 2012 (%) 12 Year 2012 (%) 81 Year 2012 (%) 11 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 2 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 43 office portfolio – australia (continued)

Victoria Cross Ferguson Centre O’Connell House 60 Miller Street 130 George Street 15–19 Bent Street North Sydney, NSW Parramatta, NSW Sydney, NSW

Victoria Cross is located in a prominent position A 16 level office tower of approximately Located in the financial core of the Sydney within the North Sydney CBD. The building 19,900 square metres. A major refurbishment CBD, on the corner of Bligh, O’Connell and comprises 12 levels of office accommodation, of the property was completed in April 2006. Bent Streets, O’Connell House has expansive ground and upper ground retail and three levels Development consent to build an additional harbour and city views from its upper floors. of basement parking for 180 vehicles. office tower at 105 Phillip Street has been The building includes 18 levels of B-grade achieved and commencement of initial works office accommodation, ground floor retail and has been carried out. two basement parking levels for 74 vehicles. The site has dual frontage and access to George and Phillip Streets, which constitutes the primary office precinct in Parramatta.

Details Details Details Building Type A-grade – Office Building Type B-grade – Office Building Type B-grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1987 Year Built 1984 Year Built 1968 Site Area (ha) 0.4 Site Area (ha) 1.0 Site Area (ha) 0.1 Lettable Area (’000m2) 14.5 Lettable Area (’000m2) 19.9 Lettable Area (’000m2) 9.9 Typical Floor Area (m2) 1,150 Typical Floor Area (m2) 1,440 Typical Floor Area (m2) 588 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Car Parking Spaces 180 Car Parking Spaces 343 Car Parking Spaces 74 Acquisition Date Dec 1998 Acquisition Date May 1997 Acquisition Date Aug 2000 Acquisition Price plus Additions (A$’m) 89.0 Acquisition Price plus Additions (A$’m) 97.0 Acquisition Price plus Additions (A$’m) 49.3 Book Value (A$’m) 95.0 Book Value (A$’m) 80.0 Book Value (A$’m) 54.4 Independent Valuation Date Dec 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Sep 2004 Independent Valuation (A$’m) 90.0 Independent Valuation (A$’m) 80.0 Independent Valuation (A$’m) 55.5 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 8.00 Average Passing Rent (A$/m2) 396 Average Passing Rent (A$/m2) 275 Average Passing Rent (A$/m2) 412 Average Market Rent (A$/m2) 395 Average Market Rent (A$/m2) 310 Average Market Rent (A$/m2) 404 Initial Yield (%) 6.55 Initial Yield (%) 6.00 Initial Yield (%) 7.20 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.30 Major Tenant Euro RSCG Pty Limited Major Tenant Commonwealth of Australia Major Tenant IOOF Holdings Limited Occupancy (%) 99 (CSA/Medicare) Occupancy (%) 97 Weighted Lease Term by Income (years) 3.5 Occupancy (%) 98 Weighted Lease Term by Income (years) 1.7 Available (%) 1 Weighted Lease Term by Income (years) 7.8 Available (%) 3 Year 2007 (%) 15 Available (%) 3 Year 2007 (%) 31 Year 2008 (%) 16 Year 2007 (%) 0 Year 2008 (%) 66 Year 2009 (%) 7 Year 2008 (%) 0 Year 2009 (%) 0 Year 2010 (%) 37 Year 2009 (%) 0 Year 2010 (%) 0 Year 2011 (%) 15 Year 2010 (%) 37 Year 2011 (%) 0 Year 2012 (%) 11 Year 2011 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 60

DB RREEF Trust Property Synopsis 2006 44

1–7 Bligh Street 9–13 Bligh Street 45 Clarence Street Sydney, NSW Sydney, NSW Sydney, NSW

1 Bligh Street is strategically located within the 9–13 Bligh Street is strategically located within A modern A-grade office building located in the core precinct of the Sydney CBD. It provides the core precinct of the Sydney CBD. 9–13 western corridor of the Sydney CBD overlooking ten levels of office accommodation, ground floor Bligh Street provides office accommodation Darling Harbour, this high rise building includes retail area and basement storage. over eight levels, a ground floor retail area 28 levels of office accommodation and five and basement storage. levels of basement parking for 178 cars. Major upgrade works to the upper levels, lobby and lifts were completed in 2005.

Details Details Details Building Type B-grade – Office Building Type B-grade – Office Building Type A-grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 50 Ownership (%) 50 Ownership (%) 100 Co-Owner DWPF1 Co-Owner DWPF1 Year Built 1990 Year Built 1989 Year Built 1938 Site Area (ha) 0.4 Site Area (ha) 0.1 Site Area (ha) 0.1 Lettable Area (’000m2) 32.2 Lettable Area (’000m2) 4.4 Lettable Area (’000m2) 3.1 Typical Floor Area (m2) 1,250 Typical Floor Area (m2) 356 Typical Floor Area (m2) 324 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Car Parking Spaces 178 Car Parking Spaces n/a Car Parking Spaces n/a Acquisition Date Dec 1998 Acquisition Date Dec 2003 Acquisition Date Sep 2001 Acquisition Price plus Additions (A$’m) 220.9 Acquisition Price plus Additions (A$’m) 15.9 Acquisition Price plus Additions (A$’m) 11.2 Book Value (A$’m) 228.0 Book Value (A$’m) 7.4 Book Value (A$’m) 4.3 Independent Valuation Date Jun 2005 Independent Valuation Date Sep 2004 Independent Valuation Date Sep 2004 Independent Valuation (A$’m) 195.0 Independent Valuation (A$’m) 10.5 Independent Valuation (A$’m) 5.5 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 7.20 Capitalisation Rate (%) 8.00 Average Passing Rent (A$/m2) 444 Average Passing Rent (A$/m2) 504 G Average Passing Rent (A$/m2) 389 G Average Market Rent (A$/m2) 440 Average Market Rent (A$/m2) 451 G Average Market Rent (A$/m2) 368 G Initial Yield (%) 5.37 Initial Yield (%) 8.20 Initial Yield (%) 6.80 Discount Rate (%) 9.25 Discount Rate (%) 8.90 Discount Rate (%) 9.30 Major Tenant HBOS Australia Major Tenant Litsupport Pty Ltd Major Tenant Canon Australia Pty Ltd Occupancy (%) 98 Occupancy (%) 81 Occupancy (%) 71 Weighted Lease Term by Income (years) 6.1 Weighted Lease Term by Income (years) 1.4 Weighted Lease Term by Income (years) 1.6 Available (%) 2 Available (%) 19 Available (%) 29 Year 2007 (%) 0 Year 2007 (%) 27 Year 2007 (%) 13 Year 2008 (%) 6 Year 2008 (%) 54 Year 2008 (%) 58 Year 2009 (%) 6 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 10 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 5 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 26 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 27 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 8 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 10 Year 2016+ (%) 0 Year 2016+ (%) 0 1 DWPF: Deutsche Wholesale Property Fund. 1 DWPF: Deutsche Wholesale Property Fund.

DB RREEF Trust Property Synopsis 2006 45 office portfolio – australia (continued)

201–217 Elizabeth Street GPT/GMT Complex and Terraces Australia Square Complex Sydney, NSW 1 Farrer Place, Sydney, NSW 264–278 George Street Sydney, NSW The building is a prominent A-grade 42 storey Governor Phillip Tower and Governor Macquarie office tower directly opposite Sydney’s Tower are amongst Sydney’s leading premium One of Sydney’s most enduring prime office Hyde Park. grade commercial office buildings. The complex properties, Australia Square is situated in the It comprises 34 levels of office accommodation, is bounded by Bent, Phillip and Young Streets and heart of Sydney’s CBD. The complex comprises a lower ground plaza of retail shops and two is located in the heart of Sydney’s CBD. a 48 level circular Tower and the smaller basement parking levels for 171 vehicles. The complex consists of Governor Phillip Tower, 13 level Plaza building. a 64 level premium office building providing The external Plaza courtyard is a feature of this 40 levels of office accommodation; Governor landmark building. Major upgrade works to the Macquarie Tower, a 42 level premium office public areas and to the Plaza building were building providing 25 levels of office completed in the first half of 2004. accommodation; Phillip Street Terraces, five restored historic terraces; and nine levels of basement parking for 654 cars.

Details Details Details Building Type A-grade – Office Building Type Premium Grade – Office Building Type A-grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 50 Ownership (%) 50 Ownership (%) 50 Co-Owner Perron Investments Co-Owners General Property Trust and APPF1 Co-Owner General Property Trust Year Built 1993 Year Built 1993 and 1994 Year Built 1964 and 1968 Site Area (ha) 0.4 Site Area (ha) 0.6 Site Area (ha) 0.6 2 2 Lettable Area (’000m ) 39.1 Lettable Area (’000m2) 86.8 Lettable Area (’000m ) 52.5 2 2 Typical Floor Area (m ) 1,085 Typical Floor Area (m2) 1,500/1,150 Typical Floor Area (m ) 1,050/785 Number of Buildings 1 Number of Buildings 3 Number of Buildings 2 Car Parking Spaces 171 Car Parking Spaces 654 Car Parking Spaces 450 Acquisition Date Aug 2000 Acquisition Date Dec 1998 Acquisition Date Aug 2000 Acquisition Price plus Additions (A$’m) 113.0 Acquisition Price plus Additions (A$’m) 471.7 Acquisition Price plus Additions (A$’m) 203.4 Book Value (A$’m) 122.0 Book Value (A$’m) 575.0 Book Value (A$’m) 226.0 Independent Valuation Date Dec 2004 Independent Valuation Date Dec 2004 Independent Valuation Date Jun 2005 Independent Valuation (A$’m) 117.0 Independent Valuation (A$’m) 512.5 Independent Valuation (A$’m) 184.0 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 6.60 Capitalisation Rate (%) 7.13 2 Average Passing Rent (A$/m2) 556 (Off) N/G Average Passing Rent (A$/m ) 470 N/G Average Passing Rent (A$/m2) 777 2,336 (Ret) G Average Market Rent (A$/m2) 445 N/G 2 Average Market Rent (A$/m ) 786 Average Market Rent (A$/m2) 527 (Off) N/G Initial Yield (%) 7.35 Initial Yield (%) 6.30 2,381 (Ret) G Discount Rate (%) 9.25 Discount Rate (%) 8.94 Initial Yield (%) 5.61 Major Tenant State of NSW Major Tenant State of NSW (HMGMQE II) Discount Rate (%) 9.25 Occupancy (%) 89 Occupancy (%) 100 Major Tenant Abbott Tout Weighted Lease Term by Income (years) 4.2 Weighted Lease Term by Income (years) 7.5 Occupancy (%) 99 Available (%) 11 Available (%) 0 Weighted Lease Term by Income (years) 5.5 Year 2007 (%) 38 Year 2007 (%) 13 Available (%) 1 Year 2008 (%) 1 Year 2008 (%) 0 Year 2007 (%) 14 Year 2009 (%) 0 Year 2009 (%) 1 Year 2008 (%) 10 Year 2010 (%) 0 Year 2010 (%) 6 Year 2009 (%) 11 Year 2011 (%) 15 Year 2011 (%) 3 Year 2010 (%) 11 Year 2012 (%) 0 Year 2012 (%) 5 Year 2011 (%) 7 Year 2013 (%) 6 Year 2013 (%) 11 Year 2012 (%) 5 Year 2014 (%) 0 Year 2014 (%) 10 Year 2013 (%) 8 Year 2015 (%) 30 Year 2015 (%) 19 Year 2014 (%) 7 Year 2016+ (%) 0 Year 2016+ (%) 30 Year 2015 (%) 11

1 APPF: Australian Prime Property Fund. Year 2016+ (%) 150

DB RREEF Trust Property Synopsis 2006 46

30 The Bond 309–321 Kent Street 383–395 Kent Street 30–34 Hickson Road Sydney, NSW Sydney, NSW Sydney, NSW A two office tower complex located in the A 14 level 18,058 square metre A-grade office This contemporary development was the first western corridor of the Sydney CBD overlooking tower which was completed in May 2002. The office building in Australia to achieve a five-star Darling Harbour. The complex comprises tower was constructed above the Trust’s car Australian Building Greenhouse Rating (ABGR). 36 levels of office accommodation, with 19 park. levels in 321 Kent Street and 17 levels in 383 Kent Street is located along the western Located at Millers Point in the emerging Lumley House (309 Kent Street), a ground level north-western waterfront precinct, the building corridor of Sydney and has dual frontage to retail plaza and five levels of basement parking Kent and Sussex Streets. provides over 19,700 square metres of office for 424 vehicles. space and basement parking for 113 cars. A major refurbishment of 321 Kent Street The building features the very latest in completed in April 2006. environmental design, including chilled beam air-conditioning, a first for a commercial building in Australia.

Details Details Details Building Type A-grade – Office Building Type A-grade – Office Building Type A-grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 50 Ownership (%) 100 Year Built 2004 Co-Owner AMP Year Built 2002 Site Area (ha) 0.4 Year Built 1976 and 1991 Site Area (ha) 0.4 Lettable Area (’000m2) 19.8 Site Area (ha) 0.6 Lettable Area (’000m2) 18.1 2 Typical Floor Area (m2) 2,000 Lettable Area (’000m ) 47.1 Typical Floor Area (m2) 1,577 Number of Buildings 1 Typical Floor Area (m2) 1,065/1,550 Number of Buildings 1 Car Parking Spaces 113 Number of Buildings 2 Car Parking Spaces 55 Acquisition Date May 2002 Car Parking Spaces 424 Acquisition Date Sep 1987 Acquisition Price plus Additions (A$’m) 118.1 Acquisition Date Dec 1998 Acquisition Price plus Additions (A$’m) 105.4 Book Value (A$’m) 150.0 Acquisition Price plus Additions (A$’m) 162.1 Book Value (A$’m) 115.0 Independent Valuation Date Jun 2006 Book Value (A$’m) 165.0 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 150.0 Independent Valuation Date Dec 2005 Independent Valuation (A$’m)1 115.0 Capitalisation Rate (%) 6.50 Independent Valuation (A$’m) 139.3 Capitalisation Rate (%) 6.75 2 Capitalisation Rate (%) 7.06 Average Passing Rent (A$/m ) 447 Average Passing Rent (A$/m2) 429 2 Average Passing Rent (A$/m2) 455 (309 K) G Average Market Rent (A$/m ) 449 Average Market Rent (A$/m2) 415 Initial Yield (%) 6.30 & 463 (321 K) N 2 Initial Yield (%) 6.52 Discount Rate (%) 8.50 Average Market Rent (A$/m ) 453 (309 K) G Discount Rate (%) 8.75 & 465 (321 K) N Major Tenant Lend Lease Corporation Limited Major Tenant AXA Initial Yield (%) 7.04 Occupancy (%) 100 Occupancy (%) 97 Discount Rate (%) 9.00 Weighted Lease Term by Income (years) 7.6 Weighted Lease Term by Income (years) 4.3 Major Tenant Sparke Helmore Available (%) 0 Available (%) 3 Occupancy (%) 99 Year 2007 (%) 0 Year 2007 (%) 1 Weighted Lease Term by Income (years) 8.1 Year 2008 (%) 0 Year 2008 (%) 22 Available (%) 1 Year 2009 (%) 1 Year 2009 (%) 5 Year 2007 (%) 3 Year 2010 (%) 10 Year 2010 (%) 37 Year 2008 (%) 4 Year 2011 (%) 0 Year 2011 (%) 0 Year 2009 (%) 12 Year 2012 (%) 0 Year 2012 (%) 3 Year 2010 (%) 5 Year 2013 (%) 0 Year 2013 (%) 29 Year 2011 (%) 9 Year 2014 (%) 90 Year 2014 (%) 0 Year 2012 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2013 (%) 11 Year 2016+ (%) 0 Year 2016+ (%) 1 Year 2014 (%) 0 1 Excludes car park component (refer page 26). Year 2015 (%) 0 Year 2016+ (%) 55

DB RREEF Trust Property Synopsis 2006 47 office portfolio – australia (continued)

One Margaret Street 44 Market Street 2 O’Connell Street Sydney, NSW Sydney, NSW Sydney, NSW

One Margaret Street is located in the western A 26 level freestanding office tower. 2 O’Connell Street is strategically located corridor of the Sydney CBD overlooking Darling The building is of A-grade standing within the core precinct of the Sydney CBD. It Harbour. The building includes 18 levels of following a substantial upgrade in 1996. provides 12 levels of office accommodation, A-grade office accommodation and three levels It is located along the western corridor of the ground floor retail and basement parking. of car parking for 103 vehicles. The building was Sydney CBD at the corner of Market, York and completely refurbished in 2002. Clarence Streets.

Details Details Details Building Type A-grade – Office Building Type A-grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 50 Ownership (%) 100 Ownership (%) 100 Co-Owner DWPF1 Year Built 1984 Year Built 1978 Year Built 1962 Site Area (ha) 0.2 Site Area (ha) 0.3 Site Area (ha) 0.1 2 2 Lettable Area (’000m ) 20.9 Lettable Area (’000m ) 30.3 Lettable Area (’000m2) 4.0 2 2 Typical Floor Area (m ) 1,000 Typical Floor Area (m ) 1,000/2,200 Typical Floor Area (m2) 290 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Car Parking Spaces 103 Car Parking Spaces 138 Car Parking Spaces 12 Acquisition Date Dec 1998 Acquisition Date Sep 1987 Acquisition Date Sep 2001 Acquisition Price plus Additions (A$’m) 142.4 Acquisition Price plus Additions (A$’m) 166.0 Acquisition Price plus Additions (A$’m) 11.4 Book Value (A$’m) 152.0 Book Value (A$’m) 185.0 Book Value (A$’m) 9.6 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Sep 2004 Independent Valuation (A$’m) 139.0 Independent Valuation (A$’m) 185.0 Independent Valuation (A$’m) 7.8 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 6.50 Capitalisation Rate (%) 8.00 2 2 Average Passing Rent (A$/m ) 456 Average Passing Rent (A$/m ) 408 Average Passing Rent (A$/m2) 384 G 2 2 Average Market Rent (A$/m ) 435 Average Market Rent (A$/m ) 389 Average Market Rent (A$/m2) 342 G Initial Yield (%) 7.23 Initial Yield (%) 6.38 Initial Yield (%) 8.30 Discount Rate (%) 9.00 Discount Rate (%) 8.50 Discount Rate (%) 9.50 Major Tenant Credit Union Services Major Tenant Commonwealth Bank of Australia Major Tenant Primary Superannuation Corporation (Australia) Limited Occupancy (%) 96 Services Pty Ltd Occupancy (%) 99 Weighted Lease Term by Income (years) 4.1 Occupancy (%) 84 Weighted Lease Term by Income (years) 7.2 Available (%) 4 Weighted Lease Term by Income (years) 1.2 Available (%) 1 Year 2007 (%) 14 Available (%) 16 Year 2007 (%) 0 Year 2008 (%) 32 Year 2007 (%) 59 Year 2008 (%) 0 Year 2009 (%) 7 Year 2008 (%) 25 Year 2009 (%) 3 Year 2010 (%) 6 Year 2009 (%) 0 Year 2010 (%) 6 Year 2011 (%) 15 Year 2010 (%) 0 Year 2011 (%) 15 Year 2012 (%) 0 Year 2011 (%) 0 Year 2012 (%) 3 Year 2013 (%) 4 Year 2012 (%) 0 Year 2013 (%) 29 Year 2014 (%) 0 Year 2013 (%) 0 Year 2014 (%) 12 Year 2015 (%) 12 Year 2014 (%) 0 Year 2015 (%) 20 Year 2016+ (%) 8 Year 2015 (%) 0 Year 2016+ (%) 11 Year 2016+ (%) 0 1 DWPF: Deutsche Wholesale Property Fund.

DB RREEF Trust Property Synopsis 2006 48

4 O’Connell Street Flinders Gate Complex 8 Nicholson Street Sydney, NSW 172 Flinders Street (and 189 Melbourne, VIC Flinders Lane), Melbourne, VIC 4 O’Connell Street is strategically located A freestanding office tower of 23,528 within the core precinct of the Sydney CBD. Flinders Gate comprises two small boutique square metres with 91 car spaces. It provides 15 levels of office accommodation, a office buildings totalling around 9,000 square It is located on the eastern edge of the gymnasium and parking on the basement level. metres. They have undergone progressive Melbourne CBD close to Parliament Station. refurbishment since their acquisition by the The property is located in a State/Federal Trust in 1999. Government precinct. The buildings are located close to Flinders Street Station, Swanston Street and, in the case of 172 Flinders Street, opposite Federation Square.

Details Details Details Building Type B-grade – Office Building Type B-grade – Office Building Type A-grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 50 Ownership (%) 100 Ownership (%) 100 Co-Owner DWPF1 Year Built 1920’s Year Built 1991 Year Built 1972 Site Area (ha) 0.4 Site Area (ha) 0.3 Site Area (ha) 0.1 Lettable Area (’000m2) 8.8 Lettable Area (’000m2) 23.5 Lettable Area (’000m2) 7.3 Typical Floor Area (m2) 710/510 Typical Floor Area (m2) 1,650 Typical Floor Area (m2) 445 Number of Buildings 2 Number of Buildings 1 Number of Buildings 1 Car Parking Spaces n/a Car Parking Spaces 91 Car Parking Spaces 16 Acquisition Date Mar 1999 Acquisition Date Nov 1993 Acquisition Date Sep 2001 Acquisition Price plus Additions (A$’m) 13.7 Acquisition Price plus Additions (A$’m) 69.4 Acquisition Price plus Additions (A$’m) 9.8 Book Value (A$’m) 18.0 Book Value (A$’m) 98.0 Book Value (A$’m) 15.1 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2005 Independent Valuation Date Sep 2004 Independent Valuation (A$’m) 18.0 Independent Valuation (A$’m) 91.8 Independent Valuation (A$’m) 12.0 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 8.00 Average Passing Rent (A$/m2) 250 G Average Passing Rent (A$/m2) 320 Average Passing Rent (A$/m2) 386 G Average Market Rent (A$/m2) 246 G Average Market Rent (A$/m2) 300 Average Market Rent (A$/m2) 360 G Initial Yield (%) 7.78 Initial Yield (%) 8.21 Initial Yield (%) 3.80 Discount Rate (%) 9.25 Discount Rate (%) 9.00 Discount Rate (%) 9.50 Major Tenant Carlson Wagonlit Travel Major Tenant State of Victoria Major Tenant Sydney IVF Pty Ltd Occupancy (%) 86 Occupancy (%) 100 Occupancy (%) 50 Weighted Lease Term by Income (years) 1.9 Weighted Lease Term by Income (years) 7.0 Weighted Lease Term by Income (years) 1.2 Available (%) 14 Available (%) 0 Available (%) 50 Year 2007 (%) 46 Year 2007 (%) 0 Year 2007 (%) 3 Year 2008 (%) 15 Year 2008 (%) 0 Year 2008 (%) 47 Year 2009 (%) 4 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 6 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 12 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 3 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 100 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 1 DWPF: Deutsche Wholesale Property Fund.

DB RREEF Trust Property Synopsis 2006 49 office portfolio – australia and new zealand

Southgate Complex Woodside Plaza Lumley Centre 3 Southgate Avenue 240 St George’s Terrace 88 Shortland Street Southbank, VIC Perth, WA Auckland, NZ

The Southgate Complex is one of Melbourne’s Woodside Plaza is Perth’s newest premium A premium grade office tower located within the most prestigious commercial and retail grade office building, located in a prime position Auckland CBD which was completed in October properties, located on the banks of the Yarra along the northern side of St George’s Terrace. 2005. The tower is fully tenanted to major legal River in the Southbank arts leisure precinct of The building comprises over 47,000 square and insurance companies. Melbourne. metres of office space over 24 levels, a ground The complex comprises two high-quality office floor retail arcade and basement parking for towers, IBM and HWT, of 29 and 24 levels 253 cars. respectively, a three level retail plaza and a large underground car park for 1,041 vehicles.

Details Details Details Building Type A-grade – Office Building Type Premium Grade – Office Building Type Premium Grade – Office Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1992 and 1993 Year Built 2003 Year Built 2005 Site Area (ha) 2.1 Site Area (ha) 0.6 Site Area (ha) 0.50 Lettable Area (’000m2) 76.3 Lettable Area (’000m2) 47.2 Lettable Area (’000m2) 19.9 Typical Floor Area (m2) 1,250 Typical Floor Area (m2) 2,000 Typical Floor Area (m2) 1,300 Number of Buildings 3 Number of Buildings 1 Number of Buildings 1 Car Parking Spaces 1,041 Car Parking Spaces 253 Car Parking Spaces 194 Acquisition Date Aug 2000 Acquisition Date Jan 2001 Acquisition Date Aug 2004 Acquisition Price plus Additions (A$’m) 352.8 Acquisition Price plus Additions (A$’m) 240.6 Acquisition Price plus Additions (A$’m) 102.6 Book Value (A$’m) 390.0 Book Value (A$’m) 315.0 Book Value (A$’m) 101.2 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Dec 2005 Independent Valuation (A$’m) 361.0 Independent Valuation (A$’m) 315.0 Independent Valuation (NZ$’m) 121.6 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 6.50 Capitalisation Rate (%) 7.50 Average Passing Rent (A$/m2) 335 (Off) Average Passing Rent (A$/m2) 389 Average Passing Rent (NZ$/m2) 383 1,005 (Ret) G Average Market Rent (A$/m2) 404 Average Market Rent (NZ$/m2) 402 Average Market Rent (A$/m2) 274 (Off) Initial Yield (%) 6.18 Initial Yield (%) 7.44 1,007 (Ret) G Discount Rate (%) 8.75 Discount Rate (%) 9.75 Initial Yield (%) 8.53 Major Tenant Woodside Energy Major Tenant Simpson Grierson Discount Rate (%) 8.75 Corporation Limited Occupancy (%) 100 Major Tenant IBM Australia Limited Occupancy (%) 100 Weighted Lease Term by Income (years) 10.6 Occupancy (%) 99 Weighted Lease Term by Income (years) 11.4 Available (%) 0 Weighted Lease Term by Income (years) 3.7 Available (%) 0 Year 2007 (%) 0 Available (%) 1 Year 2007 (%) 0 Year 2008 (%) 0 Year 2007 (%) 10 Year 2008 (%) 0 Year 2009 (%) 0 Year 2008 (%) 6 Year 2009 (%) 0 Year 2010 (%) 0 Year 2009 (%) 49 Year 2010 (%) 6 Year 2011 (%) 0 Year 2010 (%) 1 Year 2011 (%) 0 Year 2012 (%) 0 Year 2011 (%) 23 Year 2012 (%) 0 Year 2013 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2013 (%) 4 Year 2014 (%) 14 Year 2015 (%) 0 Year 2014 (%) 1 Year 2015 (%) 9 Year 2016+ (%) 100 Year 2015 (%) 0 Year 2016+ (%) 71 Year 2016+ (%) 4

DB RREEF Trust Property Synopsis 2006 50 car park

32–44 Flinders Street, Melbourne VIC

DB RREEF Trust Property Synopsis 2006 51 car park portfolio – australia

383–395 Kent Street Albert and Charlotte Streets 32–44 Flinders Street Sydney, NSW Brisbane, QLD Melbourne, VIC

A 785 bay car park below an 18,000 square A 669 bay freestanding car park built over six A 530 bay car park built over 10 levels, which metre office tower, which is also owned by the levels. Several retail facilities have been added was constructed in 1998. It services residential Trust and was completed in May 2002. to the street frontage in recent years. and office patrons, as well as entertainment, It is located along the western corridor of the Uniquely located adjacent to office, hotel, including the MCG, Melbourne Park and Sydney CBD and has dual street frontage with apartment, retail and cinema facilities. Federation Square. Kent and Sussex Streets. Located at the ‘Paris’ end of Flinders Street with dual access to Flinders Lane.

Details Details Details Building Type Car Park Building Type Car Park Building Type Car Park Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1977 Year Built n/a Year Built 1998 Zoning Commercial Car park and ancillary uses Zoning Multi Purpose Centre – MPI – City Centre Zoning Capital City Zone 1 Site Area (’000m2) 3.608 Site Area (’000m2) 3.799 Site Area (’000m2) 2.087 Car Parking Spaces 785 Car Parking Spaces 669 Car Parking Spaces 530 Acquisition Date Sep 1987 Acquisition Date Oct 1984 Acquisition Date Jun 1998 Acquisition Price plus Additions (A$’m) 30.3 Acquisition Price plus Additions (A$’m) 13.8 Acquisition Price plus Additions (A$’m) 21.2 Book Value (A$’m) 60.0 Book Value (A$’m) 38.5 Book Value (A$’m) 32.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 60.0 Independent Valuation (A$’m) 38.5 Independent Valuation (A$’m) 32.5 Capitalisation Rate (%) 6.75 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 8.00 Initial Yield (%) 7.53 Initial Yield (%) 7.55 Initial Yield (%) 8.06 Discount Rate (%) 8.75 Discount Rate (%) 9.50 Discount Rate (%) 10.50 Major Tenant Kings Parking Major Tenant Wilson Parking Major Tenant Kings Parking Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 10.0 Weighted Lease Term by Income (years) 10.0 Weighted Lease Term by Income (years) 10.0 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 100 Year 2016+ (%) 100 Year 2016+ (%) 100

DB RREEF Trust Property Synopsis 2006 52

Flinders Gate Car Park 34–60 Little Collins Street 172–189 Flinders Street Melbourne, VIC Melbourne, VIC A 960 bay, freestanding car park with a coffee A 1,077 bay car park attached to two small shop and rental car outlet on the ground floor. office buildings also owned by the Trust. It is located in the eastern core of the Melbourne It is located centrally in the Melbourne CBD CBD providing convenient access to Melbourne’s diagonally opposite Flinders Street Railway premium office and entertainment precincts. Station and directly opposite Federation Square.

Details Details Building Type Car Park Building Type Car Park Title Freehold Title Leasehold Ownership (%) 100 Ownership (%) 100 Year Built 1998 Year Built 1965 Zoning Capital City Zone 1 Zoning Capital City Zone Site Area (’000m2) 4.189 Site Area (’000m2) 3.538 Car Parking Spaces 1,077 Car Parking Spaces 960 Acquisition Date Mar 1999 Acquisition Date Nov 1984 Acquisition Price plus Additions (A$’m) 47.0 Acquisition Price plus Additions (A$’m) 16.2 Book Value (A$’m) 39.0 Book Value (A$’m) 37.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 39.0 Independent Valuation (A$’m) 37.5 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.75 Initial Yield (%) 10.49 Initial Yield (%) 11.25 Discount Rate (%) 10.75 Discount Rate (%) 11.00 Major Tenant Kings Parking Major Tenant Kings Parking Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 10.0 Weighted Lease Term by Income (years) 10.0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 100 Year 2016+ (%) 100

DB RREEF Trust Property Synopsis 2006 53 industrial

11 Talavera Road, Macquarie Park NSW

DB RREEF Trust Property Synopsis 2006 54

52 Holbeche Road 79–97 St Hilliers Road 3 Brookhollow Avenue Arndell Park, NSW Auburn, NSW Baulkham Hills, NSW

The property is located at the intersection of St Hilliers Estate is situated on the north eastern The property is located within the Norwest Holbeche Road and Martha Street at Arndell side of Parramatta Road and St Hilliers Road at Business Park, Baulkham Hills and is on the Park, an established industrial suburb located Auburn, approximately 20 kilometres west of the corner of Brookhollow Avenue and Norwest along the M4 corridor within western Sydney. Sydney CBD and four kilometres south-east of the Boulevard. It has extensive frontage to both Arndell Park is a newly developed industrial Parramatta CBD. Norwest Boulevard and Brookhollow Avenue, precinct located on the opposite side of the Entry and exit points to the M4 Motorway close to the Windsor Road entrance to Norwest Great Western Highway to the Huntingwood are situated 400 metres to the north. Business Park. industrial precinct. Arndell Park is approximately Norwest Business Park is one of Australia’s 10 kilometres west of Parramatta and 35 leading technology and business parks and kilometres from the Sydney CBD. provides campus style office, high-technology and manufacturing/production facilities within close proximity to the M2 Motorway, providing

rapid access to the Sydney CBD.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Business Park Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1999 Year Built 1989 Year Built 1995 Zoning General Industrial 4(a) Zoning Industrial Enterprise Zone 4(c) Zoning Employment Area 10(a) Site Area (ha) 1.9 Site Area (ha) 3.5 Site Area (ha) 5.2 Lettable Area (’000m2) 9.814 Lettable Area (’000m2) 24.464 Lettable Area (’000m2) 13.422 Site Coverage (%) 53 Site Coverage (%) 70 Site Coverage (%) 26 Number of Buildings 1 Number of Buildings 2 Number of Buildings 1 Number of Suites 1 Number of Suites 15 Number of Suites 1 Average Suite Size (’000m2) 9.814 Average Suite Size (’000m2) 1.631 Average Suite Size (’000m2) 13.422 Office Content (%) 4 Office Content (%) 44 Office Content (%) 100 Car Parking Spaces 9 Car Parking Spaces 425 Car Parking Spaces 163 Acquisition Date Jul 1998 Acquisition Date Sep 1997 Acquisition Date Dec 2002 Acquisition Price plus Additions (A$’m) 11.3 Acquisition Price plus Additions (A$’m) 34.4 Acquisition Price plus Additions (A$’m) 42.3 Book Value (A$’m) 12.5 Book Value (A$’m) 41.7 Book Value (A$’m) 42.4 Independent Valuation Date Dec 2005 Independent Valuation Date Jun 2005 Independent Valuation Date Dec 2005 Independent Valuation (A$’m) 12.5 Independent Valuation (A$’m) 41.0 Independent Valuation (A$’m) 42.4 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.00 Average Passing Rent (A$/m2) 105 Average Passing Rent (A$/m2) 140 Average Passing Rent (A$/m2) 253 Average Market Rent (A$/m2) 109 Average Market Rent (A$/m2) 134 Average Market Rent (A$/m2) 252 Initial Yield (%) 8.44 Initial Yield (%) 7.34 Initial Yield (%) 10.60 Discount Rate (%) 9.25 Discount Rate (%) 9.25 Discount Rate (%) 9.00 Major Tenant Exel (Australia) Pty Ltd Major Tenant Legrand Australia Pty Ltd Major Tenant IBM Global Services Australia Limited Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.1 Weighted Lease Term by Income (years) 3.4 Weighted Lease Term by Income (years) 2.6 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 6 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 36 Year 2008 (%) 0 Year 2009 (%) 100 Year 2009 (%) 22 Year 2009 (%) 100 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 11 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 24 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 55 industrial portfolio – australia (continued)

1 Garigal Road 2 Minna Close 3–7 Bessemer Street Belrose, NSW Belrose, NSW Blacktown, NSW

The property is situated on the south eastern The property is located in the Austlink Corporate The property forms part of the comprehensive, corner of Garigal Road and Forest Way at Belrose Park, Terrey Hills, approximately 24 kilometres old established Blacktown Industrial area situated within Austlink Business Park. Austlink Business north west of the Sydney CBD and is situated on three kilometres north of the commercial/retail Park is located approximately 24 kilometres the south east corner of Forest Way and Mona centre of Blacktown. north west of the Sydney CBD. Vale Road, Terrey Hills. Bessemer Street extends off the western side of Mona Vale Road (Route 3) provides a major Sunnyholt Road which forms part of a major ring road from the northern suburbs of Sydney north–south road system extending from the Great to the western and southern regions. Western Highway and M4 Motorway

north to the Old Windsor and Windsor Roads. The M2 Motorway is easily accessed some four kilometres to the east.

Details Details Details Building Type Business Park Building Type Business Park Building Type Distribution Centre Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1992 Year Built 1993 Year Built 1995 Zoning Locality C9 Austlink Business Park Zoning Locality C9 Austlink Business Park Zoning General Industrial 4(a) Site Area (ha) 2.6 Site Area (ha) 2.6 Site Area (ha) 1.6 Lettable Area (’000m2) 12.583 Lettable Area (’000m2) 13.626 Lettable Area (’000m2) 8.033 Site Coverage (%) 49 Site Coverage (%) 52 Site Coverage (%) 50 Number of Buildings 1 Number of Buildings 3 Number of Buildings 1 Number of Suites 2 Number of Suites 6 Number of Suites 1 Average Suite Size (’000m2) 6.292 Average Suite Size (’000m2) 2.271 Average Suite Size (’000m2) 8.033 Office Content (%) 49 Office Content (%) 74 Office Content (%) 36 Car Parking Spaces 331 Car Parking Spaces 513 Car Parking Spaces 101 Acquisition Date Dec 1998 Acquisition Date Dec 1998 Acquisition Date Jun 1997 Acquisition Price plus Additions (A$’m) 23.3 Acquisition Price plus Additions (A$’m) 33.8 Acquisition Price plus Additions (A$’m) 11.1 Book Value (A$’m) 31.9 Book Value (A$’m) 33.7 Book Value (A$’m) 10.2 Independent Valuation Date Dec 2004 Independent Valuation Date Dec 2004 Independent Valuation Date Sep 2003 Independent Valuation (A$’m) 27.4 Independent Valuation (A$’m) 32.4 Independent Valuation (A$’m) 10.1 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.75 Average Passing Rent (A$/m2) 193 Average Passing Rent (A$/m2) 213 Average Passing Rent (A$/m2) 106 Average Market Rent (A$/m2) 187 Average Market Rent (A$/m2) 198 Average Market Rent (A$/m2) 105 Initial Yield (%) 8.71 Initial Yield (%) 8.83 Initial Yield (%) 11.62 Discount Rate (%) 9.75 Discount Rate (%) 9.75 Discount Rate (%) 10.50 Major Tenant Panasonic Australia Pty Ltd Major Tenant Getronics Pty Ltd Major Tenant Atlas Copco Australia Pty Ltd Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 4.2 Weighted Lease Term by Income (years) 4.0 Weighted Lease Term by Income (years) 3.4 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 24 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 82 Year 2010 (%) 100 Year 2011 (%) 76 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 18 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 56

30–32 Bessemer Street 114–120 Old Pittwater Road 2 Alspec Place Blacktown, NSW Brookvale, NSW Eastern Creek, NSW

The property forms part of the comprehensive, The property is located on the western side of The premises consist of a newly completed old established Blacktown Industrial area Old Pittwater Road, Brookvale. Brookvale is a 16,875 square metre distribution facility. situated three kilometres north of the northern suburb of Sydney situated about 15 The facility is located within one kilometre commercial/retail centre of Blacktown. kilometres from the CBD. The property has of the M7 Westlink currently under Bessemer Street extends off the western side good access to Pittwater Road and is the main construction. Eastern Creek is recognised of Sunnyholt Road which forms part of a major thoroughfare between the northern beaches as the premier industrial precinct in the north-south road system extending from the and the city, with Route 3 linking the area to Sydney Metropolitan area. Great Western Highway and M4 Motorway each of Sydney’s major arterial routes. north to the Old Windsor and Windsor Roads. The M2 Motorway is easily accessed some four kilometres to the east.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Distribution Centre Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1980 Year Built 1976 and 1987 Year Built 2004 Zoning General Industrial 4(a) Zoning G10 Brookvale Industrial West Zoning Industrial Site Area (ha) 4.5 Site Area (ha) 4.2 Site Area (ha) 2.6 Lettable Area (’000m2) 14.652 Lettable Area (’000m2) 30.645 Lettable Area (’000m2) 16.875 Site Coverage (%) 33 Site Coverage (%) 73 Site Coverage (%) 65 Number of Buildings 4 Number of Buildings 2 Number of Buildings 1 Number of Suites 1 Number of Suites 6 Number of Suites 1 Average Suite Size (’000m2) 14.652 Average Suite Size (’000m2) 5.108 Average Suite Size (’000m2) 16.875 Office Content (%) 4 Office Content (%) 46 Office Content (%) 2 Car Parking Spaces 185 Car Parking Spaces 539 Car Parking Spaces 144 Acquisition Date May 1997 Acquisition Date Sep 1997 Acquisition Date Mar 2004 Acquisition Price plus Additions (A$’m) 11.8 Acquisition Price plus Additions (A$’m) 33.1 Acquisition Price plus Additions (A$’m) 23.6 Book Value (A$’m) 17.9 Book Value (A$’m) 45.5 Book Value (A$’m) 23.6 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jan 2004 Independent Valuation (A$’m) 17.9 Independent Valuation (A$’m) 45.5 Independent Valuation (A$’m) 23.1 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 7.84 Capitalisation Rate (%) 7.75 Average Passing Rent (A$/m2) 85 Average Passing Rent (A$/m2) 126 Average Passing Rent (A$/m2) 113 Average Market Rent (A$/m2) 85 Average Market Rent (A$/m2) 131 Average Market Rent (A$/m2) 105 Initial Yield (%) 8.07 Initial Yield (%) 7.50 Initial Yield (%) 7.95 Discount Rate (%) 9.25 Discount Rate (%) 9.00 Discount Rate (%) 9.75 Major Tenant Chips n Mixes Pty Ltd Major Tenant Avon Products Pty Ltd Major Tenant Controlled Climate Logistics Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 4.2 Weighted Lease Term by Income (years) 2.5 Weighted Lease Term by Income (years) 8.8 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 42 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 8 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 11 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 100 Year 2011 (%) 37 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 3 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 100 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 57 industrial portfolio – australia (continued)

145–151 Arthur Street 436–484 Victoria Road 1 Foundation Place Flemington, NSW Gladesville, NSW Greystanes, NSW

Flemington is approximately 16 kilometres The property is located in a prominent position The property is well located within the west of the Sydney CBD and eight kilometres on the intersection of Victoria Road and Sydney metropolitan area being approximately east of Parramatta. Tennyson Road, Gladesville, approximately six kilometres west of Parramatta and 26 The property forms part of a relatively minor 10 kilometres north west of the Sydney CBD kilometres west of the Sydney CBD. industrial location but enjoys good exposure and 11 kilometres east of the Parramatta CBD. The estate is situated in close proximity to the and access to Arthur Street and major traffic M4 Motorway, which is situated approximately 500 arteries in western Sydney including Centenary metres to the west and accessed via the Prospect Drive, Great Western Highway, M4 Motorway, Highway. The Great Western Highway, Horsley Silverwater and St Hilliers Roads. Drive and Cumberland Highway are also located nearby.

Details Details Details Building Type Business Park Building Type Business Park Building Type Industrial Estate Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1985 and 2001 Year Built 1991 Year Built 2004 Zoning Industrial 4 Zoning Industrial 4(b2) Light Zoning Employment Lands (SEPP59) Site Area (ha) 3.2 Site Area (ha) 2.0 Site Area (ha) 5.8 Lettable Area (’000m2) 19.183 Lettable Area (’000m2) 19.892 Lettable Area (’000m2) 30.746 Site Coverage (%) 60 Site Coverage (%) 100 Site Coverage (%) 53 Number of Buildings 2 Number of Buildings 2 Number of Buildings 4 Number of Suites 10 Number of Suites 14 Number of Suites 5 Average Suite Size (’000m2) 1.918 Average Suite Size (’000m2) 1.421 Average Suite Size (’000m2) 6.149 Office Content (%) 51 Office Content (%) 68 Office Content (%) 12 Car Parking Spaces 217 Car Parking Spaces 332 Car Parking Spaces 278 Acquisition Date Sep 1997 Acquisition Date Sep 1997 Acquisition Date Dec 2002 Acquisition Price plus Additions (A$’m) 23.2 Acquisition Price plus Additions (A$’m) 27.8 Acquisition Price plus Additions (A$’m) 38.7 Book Value (A$’m) 34.1 Book Value (A$’m) 48.5 Book Value (A$’m) 46.0 Independent Valuation Date Jun 2005 Independent Valuation Date Dec 2004 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 31.0 Independent Valuation (A$’m) 43.0 Independent Valuation (A$’m) 46.0 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 7.50 Average Passing Rent (A$/m2) 145 Average Passing Rent (A$/m2) 199 Average Passing Rent (A$/m2) 110 Average Market Rent (A$/m2) 145 Average Market Rent (A$/m2) 191 Average Market Rent (A$/m2) 113 Initial Yield (%) 8.74 Initial Yield (%) 8.97 Initial Yield (%) 7.40 Discount Rate (%) 9.25 Discount Rate (%) 9.75 Discount Rate (%) 8.75 Major Tenant Acer Computer Australia Major Tenant Spotless Services Australia Limited Major Tenant Allied Pickfords Pty Limited Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.7 Weighted Lease Term by Income (years) 4.4 Weighted Lease Term by Income (years) 6.4 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 11 Year 2007 (%) 24 Year 2007 (%) 0 Year 2008 (%) 3 Year 2008 (%) 8 Year 2008 (%) 0 Year 2009 (%) 40 Year 2009 (%) 7 Year 2009 (%) 13 Year 2010 (%) 0 Year 2010 (%) 5 Year 2010 (%) 0 Year 2011 (%) 19 Year 2011 (%) 2 Year 2011 (%) 0 Year 2012 (%) 27 Year 2012 (%) 19 Year 2012 (%) 32 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 35 Year 2014 (%) 27 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 28 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 58

27–29 Liberty Road 706 Mowbray Road 11 Talavera Road Huntingwood, NSW Lane Cove, NSW Macquarie Park, NSW

The property is located on the northern The property is located on the south eastern The property is located in the Macquarie Park side of Liberty Road, Huntingwood in a well side of Mowbray Road, some 250 metres east corridor approximately 10 kilometres north established good quality industrial location. of its intersection with Epping Road. The of the Sydney CBD. Liberty Road is a loop road leading from suburb of Lane Cove is situated approximately The property is situated on the southern side Huntingwood Drive, which joins the 11 kilometres north of the Sydney CBD, close of Talavera Road and is bounded by Lane Cove Great Western Highway and Horsley Road. to the North Ryde hi-tech and Lane Cove Road to the east and is approximately 100 The Great Western Highway provides a industrial precincts. metres south of the M2 Motorway. With two street direct link between Penrith and Parramatta. frontages (inclusive of a wide frontage Huntingwood is located about 10 kilometres west to Lane Cove Road) the estate has very of Parramatta and 35 kilometres west good exposure to passing traffic. of the Sydney CBD.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Office Park Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1996 Year Built 1987 Year Built 2000, 2001 and 2003 Zoning 4(d) Huntingwood Industrial Zone Zoning General Industrial 4(a) Zoning Industrial Special (University) 4(d) Site Area (ha) 1.4 Site Area (ha) 1.8 Site Area (ha) 3.6 Lettable Area (’000m2) 6.829 Lettable Area (’000m2) 17.364 Lettable Area (’000m2) 36.175 Site Coverage (%) 48 Site Coverage (%) 99 Site Coverage (%) 100 Number of Buildings 1 Number of Buildings 2 Number of Buildings 3 Number of Suites 1 Number of Suites 14 Number of Suites 12 Average Suite Size (’000m2) 6.829 Average Suite Size (’000m2) 1.240 Average Suite Size (’000m2) 3.015 Office Content (%) 19 Office Content (%) 43 Office Content (%) 100 Car Parking Spaces 107 Car Parking Spaces 312 Car Parking Spaces 1,029 Acquisition Date Jul 1998 Acquisition Date Sep 1997 Acquisition Date 75% Apr 2002 + 25% Jun 2002 Acquisition Price plus Additions (A$’m) 8.0 Acquisition Price plus Additions (A$’m) 21.1 Acquisition Price plus Additions (A$’m) 130.1 Book Value (A$’m) 9.0 Book Value (A$’m) 26.2 Book Value (A$’m) 145.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 9.0 Independent Valuation (A$’m) 26.2 Independent Valuation (A$’m) 145.5 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 7.50 Average Passing Rent (A$/m2) 108 Average Passing Rent (A$/m2) 141 Average Passing Rent (A$/m2) 290 Average Market Rent (A$/m2) 108 Average Market Rent (A$/m2) 138 Average Market Rent (A$/m2) 283 Initial Yield (%) 8.20 Initial Yield (%) 6.50 Initial Yield (%) 7.05 Discount Rate (%) 8.75 Discount Rate (%) 9.50 Discount Rate (%) 9.00 Major Tenant Entertainment Distributors Major Tenant AP Facilities Pty Limited Major Tenant AC Nielson Holdings Pty Ltd Company Pty Limited Occupancy (%) 85 Occupancy (%) 99 Occupancy (%) 100 Weighted Lease Term by Income (years) 6.0 Weighted Lease Term by Income (years) 4.0 Weighted Lease Term by Income (years) 3.5 Available (%) 23 Available (%) 1 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 17 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 4 Year 2008 (%) 0 Year 2009 (%) 15 Year 2009 (%) 3 Year 2009 (%) 0 Year 2010 (%) 11 Year 2010 (%) 25 Year 2010 (%) 100 Year 2011 (%) 4 Year 2011 (%) 28 Year 2011 (%) 0 Year 2012 (%) 6 Year 2012 (%) 11 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 4 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 41 Year 2016+ (%) 7 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 59 industrial portfolio – australia (continued)

40–50 Talavera Road Kings Park Industrial Estate 154 O’Riordan Street Macquarie Park, NSW Vardys Road, Marayong, NSW Mascot, NSW

40–50 Talavera Road is a three level office/ An industrial estate of over 60,000 square The property is located in Mascot, an warehouse comprising 12,700 square metres, metres, comprising eight office/warehouses established industrial suburb of Sydney, located with an office component of approximately developed by the Trust since 1993. The approximately nine kilometres by road from 50 per cent. The building was partially buildings range from 2,500–27,000 square the Sydney CBD. The Sydney Kingsford Smith refurbished in 1997 and was again upgraded metres and include major tenants such as VisyPet Airport is located one to two kilometres south by the Trust last financial year. and Allied Pickford. and the Botany Port Container Terminals are The property is located at the corner of Talavera Kings Park is located in Marayong near the located approximately five kilometres to and Khartoum Roads in North Ryde, NSW. It has Marayong Railway Station. Its location has the south east. four different access points, been substantially enhanced over recent years which provide further flexibility for individual following the completion of the M2 Motorway. tenancies. It is approximately 500 metres from the Macquarie Shopping Centre.

Details Details Details Building Type Business Park Building Type Industrial Estate Building Type Industrial Estate Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1974 Year Built 1991 to 2006 Year Built 1985 Zoning Industrial Special Zoning General Industrial Zoning Industrial 4(a) Site Area (ha) 2.5 Site Area (ha) 13.7 Site Area (ha) 1.4 Lettable Area (’000m2) 12.9 Lettable Area (’000m2) 66.680 Lettable Area (’000m2) 8.156 Site Coverage (%) 52 Site Coverage (%) 49 Site Coverage (%) 57 Number of Buildings 1 Number of Buildings 8 Number of Buildings 3 Number of Suites 11 Number of Suites 11 Number of Suites 7 Average Suite Size (’000m2) 1.174 Average Suite Size (’000m2) 6.062 Average Suite Size (’000m2) 1.165 Office Content (%) 50 Office Content (%) 13 Office Content (%) 27 Car Parking Spaces 379 Car Parking Spaces 484 Car Parking Spaces 129 Acquisition Date Oct 2002 Acquisition Date May 1990 Acquisition Date Jun 1997 Acquisition Price plus Additions (A$’m) 30.5 Acquisition Price plus Additions (A$’m) 78.0 Acquisition Price plus Additions (A$’m) 10.7 Book Value (A$’m) 32.5 Book Value (A$’m) 93.0 Book Value (A$’m) 14.6 Independent Valuation Date Apr 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2004 Independent Valuation (A$’m) 28.5 Independent Valuation (A$’m) 93.0 Independent Valuation (A$’m) 13.7 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 7.75 Capitalisation Rate (%) 7.75 Average Passing Rent (A$/m2) 187 Average Passing Rent (A$/m2) 103 Average Passing Rent (A$/m2) 142 Average Market Rent (A$/m2) 185 Average Market Rent (A$/m2) 99 Average Market Rent (A$/m2) 138 Initial Yield (%) 8.77 Initial Yield (%) 7.78 Initial Yield (%) 7.96 Discount Rate (%) 9.50 Discount Rate (%) 9.00 Discount Rate (%) 9.50 Major Tenant British Aerospace Engineering Major Tenant Visy Pet Pty Ltd Major Tenant Toll Priority Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.4 Weighted Lease Term by Income (years) 4.3 Weighted Lease Term by Income (years) 2.0 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 15 Year 2007 (%) 9 Year 2008 (%) 50 Year 2008 (%) 5 Year 2008 (%) 43 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 33 Year 2010 (%) 23 Year 2010 (%) 17 Year 2010 (%) 15 Year 2011 (%) 10 Year 2011 (%) 19 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 44 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 9 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 7 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 60

1–15 Rosebery Avenue 25–55 Rothschild Avenue 10–16 South Street Rosebery, NSW Rosebery, NSW Rydalmere, NSW

The location provides excellent main road A mixed use site has a combination of The property is located towards the western exposure and has four street frontages. Rosebery commercial offices and light industrial uses. end of South Street, with the Parramatta Avenue runs parallel to Botany Road which is one Its prominent corner site provides easy access River located at the southern boundary of the of the major thoroughfares of the locality, to the Eastern Distributor and the Sydney property. Rydalmere is a western suburb of providing direct access to the CBD which is five Orbital road system and is well located being Sydney located approximately 20 kilometres from kilometres to the north and Botany Container equidistant to the CBD, ports and airport. The the Sydney CBD. Terminal to the south. property was extensively refurbished in 2003. The surrounding development comprises Convenient access is also available to Southern mostly established industrial uses associated with Cross Drive, the Eastern Distributor and the light manufacturing, warehousing and Sydney Kingsford Smith Airport. automotive uses.

Details Details Details Building Type Business Park Building Type Business Park Building Type Industrial Estate Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1986 Year Built 1984 Year Built 1980 Zoning Mixed Use Zone 10(e) Zoning Mixed Use Zone 10(e) Zoning Employment 4 Site Area (ha) 3.0 Site Area (ha) 1.9 Site Area (ha) 5.3 Lettable Area (’000m2) 27.992 Lettable Area (’000m2) 16.284 Lettable Area (’000m2) 34.650 Site Coverage (%) 94 Site Coverage (%) 85 Site Coverage (%) 66 Number of Buildings 7 Number of Buildings 1 Number of Buildings 6 Number of Suites 42 Number of Suites 2 Number of Suites 22 Average Suite Size (’000m2) 0.666 Average Suite Size (’000m2) 8.142 Average Suite Size (’000m2) 1.575 Office Content (%) 53 Office Content (%) 41 Office Content (%) 32 Car Parking Spaces 407 Car Parking Spaces 71 Car Parking Spaces 502 Acquisition Date Apr 1998 Acquisition Date Oct 2001 Acquisition Date Sep 1997 Acquisition Price plus Additions (A$’m) 42.1 Acquisition Price plus Additions (A$’m) 28.1 Acquisition Price plus Additions (A$’m) 35.5 Book Value (A$’m) 56.4 Book Value (A$’m) 36.7 Book Value (A$’m) 44.7 Independent Valuation Date Dec 2005 Independent Valuation Date Dec 2005 Independent Valuation Date Jun 2004 Independent Valuation (A$’m) 56.1 Independent Valuation (A$’m) 36.7 Independent Valuation (A$’m) 42.0 Capitalisation Rate (%) 7.75 Capitalisation Rate (%) 7.5 Capitalisation Rate (%) 8.75 Average Passing Rent (A$/m2) 162 Average Passing Rent (A$/m2) 168 Average Passing Rent (A$/m2) 114 Average Market Rent (A$/m2) 153 Average Market Rent (A$/m2) 168 Average Market Rent (A$/m2) 114 Initial Yield (%) 7.75 Initial Yield (%) 7.5 Initial Yield (%) 9.55 Discount Rate (%) 10.18 Discount Rate (%) 10.17 Discount Rate (%) 9.82 Major Tenant Trimex Pty Ltd Major Tenant Commonwealth of Australia (AQIS) Major Tenant Thebe International Pty Limited Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 97 Weighted Lease Term by Income (years) 2.9 Weighted Lease Term by Income (years) 6.6 Weighted Lease Term by Income (years) 2.3 Available (%) 0 Available (%) 0 Available (%) 3 Year 2007 (%) 13 Year 2007 (%) 0 Year 2007 (%) 18 Year 2008 (%) 26 Year 2008 (%) 0 Year 2008 (%) 15 Year 2009 (%) 4 Year 2009 (%) 0 Year 2009 (%) 36 Year 2010 (%) 22 Year 2010 (%) 0 Year 2010 (%) 17 Year 2011 (%) 27 Year 2011 (%) 0 Year 2011 (%) 8 Year 2012 (%) 7 Year 2012 (%) 0 Year 2012 (%) 3 Year 2013 (%) 0 Year 2013 (%) 100 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 61 industrial portfolio – australia (continued)

DB RREEF Industrial Estate 19 Chifley Street 239–251 Woodpark Road Egerton Street, Silverwater, NSW Smithfield, NSW Smithfield, NSW

The estate is located primarily on Egerton Street The property is located at the northern end The property is located on the northern side which is in close proximity to Silverwater Road of Chifley Street, Smithfield. Smithfield is a of Woodpark Road approximately one kilometre in the Silverwater industrial area. Silverwater western suburb of Sydney situated about 35 west of the intersection with the Cumberland is regarded as one of the premier established kilometres from the CBD and seven kilometres Highway in Smithfield. industrial regions in Sydney and is accessed south west of Parramatta. The Cumberland Highway links the area with via Victoria Road, the M4 Motorway and The property has good access to the M4 the M4 Motorway a further five kilometres to Parramatta Road. The Silverwater industrial Motorway to the north and the M5 Motorway the north. precinct is located approximately 20 kilometres to the south. The property is situated in a well–established west of the Sydney CBD and four kilometres and popular industrial location with good access from Parramatta. to transport facilities.

Details Details Details Building Type Business Park Building Type Industrial Estate Building Type Distribution Centre Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1969 to 1990 Year Built 1988 Year Built 1980 Zoning General Industrial 4(a) Zoning General Industrial 4(a) Zoning General Industrial 4(a) Site Area (ha) 8.8 Site Area (ha) 2.7 Site Area (ha) 2.0 Lettable Area (’000m2) 29.335 Lettable Area (’000m2) 18.288 Lettable Area (’000m2) 5.187 Site Coverage (%) 33 Site Coverage (%) 68 Site Coverage (%) 26 Number of Buildings 10 Number of Buildings 13 Number of Buildings 1 Number of Suites 9 Number of Suites 13 Number of Suites 1 Average Suite Size (’000m2) 3.259 Average Suite Size (’000m2) 1.407 Average Suite Size (’000m2) 5.187 Office Content (%) 30 Office Content (%) 10 Office Content (%) 7 Car Parking Spaces 290 Car Parking Spaces 80 Car Parking Spaces 125 Acquisition Date May 1997 Acquisition Date Dec 1998 Acquisition Date May 1997 Acquisition Price plus Additions (A$’m) 36.2 Acquisition Price plus Additions (A$’m) 11.7 Acquisition Price plus Additions (A$’m) 5.1 Book Value (A$’m) 43.9 Book Value (A$’m) 17.5 Book Value (A$’m) 6.5 Independent Valuation Date Dec 2005 Independent Valuation Date Dec 2005 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 42.0 Independent Valuation (A$’m) 17.2 Independent Valuation (A$’m) 6.5 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.00 Average Passing Rent (A$/m2) 127 Average Passing Rent (A$/m2) 79 Average Passing Rent (A$/m2) 108 Average Market Rent (A$/m2) 124 Average Market Rent (A$/m2) 80 Average Market Rent (A$/m2) 105 Initial Yield (%) 8.70 Initial Yield (%) 7.38 Initial Yield (%) 8.72 Discount Rate (%) 9.25 Discount Rate (%) 9.25 Discount Rate (%) 9.25 Major Tenant Automotive Parts Group Limited Major Tenant BOC Ltd Major Tenant Gunnsersen Timbermark Pty Ltd (REPCO) Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.7 Weighted Lease Term by Income (years) 3.6 Weighted Lease Term by Income (years) 3.4 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 11 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 13 Year 2008 (%) 0 Year 2008 (%) 24 Year 2009 (%) 45 Year 2009 (%) 0 Year 2009 (%) 24 Year 2010 (%) 18 Year 2010 (%) 100 Year 2010 (%) 27 Year 2011 (%) 13 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 25 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 62

12 Frederick Street 40 Biloela Street 27–33 Frank Street St Leonards, NSW Villawood, NSW Wetherill Park, NSW

The estate includes 13 office/warehouse units The building is located on the northern side The Sydney CBD is approximately 30 kilometres with a total gross lettable area of approximately of Biloela Street between Marple Avenue and to the east with the retail/commercial centre 19,200 square metres. It has 283 car spaces, Miller Road in Villawood. of Parramatta approximately 11 kilometres to a significant attraction in leasing/re-leasing. The property is local to major transport routes the north east. The units offer modern quality accommodation with the Hume Highway approximately one Major arterial roads including the Cumberland ranging between 901 to 2,049 square metres. kilometre to the south and the M4 Motorway Highway, Great Western Highway and the M4 Frederick Street is located on the south eastern approximately six kilometres to the north. Motorway are readily accessible to the property. corner of the intersection of Frederick Street The property is located approximately and Reserve Road, St Leonards, within the nine kilometres south of Parramatta and St Leonards/Artarmon industrial precinct. The 20 kilometres west of the Sydney CBD. estate is approximately six kilometres north of the Sydney CBD. It is accessible via the major thoroughfares, Gore Hill Freeway and Pacific Highway and close to the North Shore railway line.

Details Details Details Building Type Business Park Building Type Distribution Centre Building Type Distribution Centre Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1974 to 1992 Year Built 1985 Year Built 1989 Zoning General Industrial Zoning General Industrial 4(a) Zoning Industrial 4(a) Site Area (ha) 2.5 Site Area (ha) 1.5 Site Area (ha) 4.2 Lettable Area (’000m2) 19.245 Lettable Area (’000m2) 7.264 Lettable Area (’000m2) 13.828 Site Coverage (%) 77 Site Coverage (%) 50 Site Coverage (%) 33 Number of Buildings 1 Number of Buildings 2 Number of Buildings 1 Number of Suites 13 Number of Suites 2 Number of Suites 1 Average Suite Size (’000m2) 1.480 Average Suite Size (’000m2) 3.632 Average Suite Size (’000m2) 13.828 Office Content (%) 17 Office Content (%) 15 Office Content (%) 4 Car Parking Spaces 283 Car Parking Spaces 23 Car Parking Spaces 173 Acquisition Date Jul 2000 Acquisition Date Jul 1997 Acquisition Date Jul 1998 Acquisition Price plus Additions (A$’m) 25.0 Acquisition Price plus Additions (A$’m) 6.8 Acquisition Price plus Additions (A$’m) 15.1 Book Value (A$’m) 35.7 Book Value (A$’m) 8.8 Book Value (A$’m) 13.2 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 31.5 Independent Valuation (A$’m) 8.8 Independent Valuation (A$’m) 13.2 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 7.75 Average Passing Rent (A$/m2) 154 Average Passing Rent (A$/m2) 92 Average Passing Rent (A$/m2) 106 Average Market Rent (A$/m2) 156 Average Market Rent (A$/m2) 90 Average Market Rent (A$/m2) 85 Initial Yield (%) 8.69 Initial Yield (%) 7.65 Initial Yield (%) 11.08 Discount Rate (%) 9.75 Discount Rate (%) 9.00 Discount Rate (%) 9.25 Major Tenant Australian Surgical Design Major Tenant Bishop Manufacturing Major Tenant Benckiser Australia Pty Ltd Occupancy (%) 92 Technology Limited Occupancy (%) 100 Weighted Lease Term by Income (years) 2.3 Occupancy (%) 100 Weighted Lease Term by Income (years) 0.5 Available (%) 7 Weighted Lease Term by Income (years) 2.9 Available (%) 0 Year 2007 (%) 5 Available (%) 0 Year 2007 (%) 100 Year 2008 (%) 37 Year 2007 (%) 0 Year 2008 (%) 0 Year 2009 (%) 29 Year 2008 (%) 43 Year 2009 (%) 0 Year 2010 (%) 7 Year 2009 (%) 0 Year 2010 (%) 0 Year 2011 (%) 15 Year 2010 (%) 57 Year 2011 (%) 0 Year 2012 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 63 industrial portfolio – australia (continued)

30 Bellrick Street 121 Evans Road 25 Donkin Street Acacia Ridge, QLD Salisbury, QLD West End Brisbane, QLD

The property is located on the southern side of The property is located approximately The complex is located in the inner city, Bellrick Street in Acacia Ridge and forms part of 16 kilometres south of the Brisbane CBD. south side suburb of West End. The property a modern industrial estate which offers good Salisbury is an established industrial suburb is located approximately two kilometres south access to major arterial roadways and is located which, together with the nearby suburbs of west of the Brisbane CBD. within the southern industrial hub of Brisbane. Coopers Plains, Acacia Ridge, Archerfield and Immediate surrounding development comprises The property is located 13 kilometres south of Rocklea forms part of Brisbane’s premier south recently constructed high-tech office/warehouse the Brisbane CBD. side industrial precinct. developments together with semi-modern The area is well serviced by major roads warehouses and light industrial premises. including, Beaudesert Road, Ipswich Road More recently, the area has captured the

and both the South East Freeway/ Pacific focus of residential developers capitalising Motorway and the Gateway Arterial. on the proximity to the CBD and river views.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Business Park Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1988 Year Built 1993 to 1995 Year Built 1987 Zoning General Industry Zoning General Industry Area GI Zoning Special Purpose Centre SP12 Site Area (ha) 3.5 Site Area (ha) 3.8 – Mixed Industry and Business Lettable Area (’000m2) 17.801 Lettable Area (’000m2) 24.774 Site Area (ha) 1.7 Site Coverage (%) 51 Site Coverage (%) 65 Lettable Area (’000m2) 11.163 Number of Buildings 5 Number of Buildings 3 Site Coverage (%) 66 Number of Suites 3 Number of Suites 4 Number of Buildings 3 Average Suite Size (’000m2) 5.934 Average Suite Size (’000m2) 6.194 Number of Suites 31 Office Content (%) 9 Office Content (%) 5 Average Suite Size (’000m2) 0.360 Car Parking Spaces 80 Car Parking Spaces 371 Office Content (%) 65 Acquisition Date Jun 1997 Acquisition Date Jul 1997 Car Parking Spaces 203 Acquisition Price plus Additions (A$’m) 13.2 Acquisition Price plus Additions (A$’m) 16.7 Acquisition Date Dec 1998 Book Value (A$’m) 18.7 Book Value (A$’m) 24.0 Acquisition Price plus Additions (A$’m) 18.2 Independent Valuation Date Dec 2006 Independent Valuation Date Dec 2005 Book Value (A$’m) 23.6 Independent Valuation (A$’m) 17.4 Independent Valuation (A$’m) 21.0 Independent Valuation Date Jun 2005 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.25 Independent Valuation (A$’m) 20.7 Average Passing Rent (A$/m2) 79 Average Passing Rent (A$/m2) 72 Capitalisation Rate (%) 8.25 2 Average Market Rent (A$/m2) 85 Average Market Rent (A$/m2) 81 Average Passing Rent (A$/m ) 174 Initial Yield (%) 7.86 Initial Yield (%) 8.20 Average Market Rent (A$/m2) 165 Discount Rate (%) 9.50 Discount Rate (%) 9.50 Initial Yield (%) 7.61 Major Tenant Specialised Container Major Tenant Tyres 4U Pty Ltd Discount Rate (%) 9.75 Transport Pty Ltd Occupancy (%) 100 Major Tenant NetOptions Pty Ltd Occupancy (%) 100 Weighted Lease Term by Income (years) 3.9 Occupancy (%) 93 Weighted Lease Term by Income (years) 1.2 Available (%) 0 Weighted Lease Term by Income (years) 1.8 Available (%) 0 Year 2007 (%) 0 Available (%) 3 Year 2007 (%) 0 Year 2008 (%) 0 Year 2007 (%) 15 Year 2008 (%) 100 Year 2009 (%) 0 Year 2008 (%) 57 Year 2009 (%) 0 Year 2010 (%) 70 Year 2009 (%) 6 Year 2010 (%) 0 Year 2011 (%) 30 Year 2010 (%) 11 Year 2011 (%) 0 Year 2012 (%) 0 Year 2011 (%) 6 Year 2012 (%) 0 Year 2013 (%) 0 Year 2012 (%) 2 Year 2013 (%) 0 Year 2014 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 64

15–23 Whicker Road Target Distribution Centre 114 Fairbank Road Gillman, SA Tarras Road, Altona North, VIC Clayton, VIC

The property is situated within an established A state-of-the-art 41,447 square metre The property is located in an established and industrial precinct in the north western suburb distribution warehouse purpose built for well-regarded industrial location approximately of Gillman, approximately 12 kilometres from Target. It is their national distribution centre, 20 kilometres south east of the Melbourne CBD. the Adelaide CBD. The Gillman precinct is which currently caters for 130 stores and can The Clayton industrial precinct is reasonably dominated by large warehousing facilities, accommodate up to 200 stores. well serviced by major road networks. These dockyards and harbour facilities. Transport The centre is located in Altona North, include the Monash Freeway, approximately to the CBD is via the major transport corridors which is approximately 12 kilometres five kilometres east of the property and of the Grand Junction Road and Port Road. The west of the Melbourne CBD. Dandenong Road approximately three Port of Adelaide is expected to be a major kilometres east of the property. beneficiary of infrastructure spending by the South Australian Government in the future.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1970 and 1980 Year Built 1996 Year Built 1986 Zoning General Industry 2 Zone Zoning Special Industrial Zoning Industrial 1 Site Area (ha) 9.7 Site Area (ha) 10.2 Site Area (ha) 3.6 Lettable Area (’000m2) 72.115 Lettable Area (’000m2) 41.447 Lettable Area (’000m2) 18.200 Site Coverage (%) 74 Site Coverage (%) 41 Site Coverage (%) 50 Number of Buildings 2 Number of Buildings 1 Number of Buildings 1 Number of Suites 2 Number of Suites 1 Number of Suites 1 Average Suite Size (’000m2) 36.058 Average Suite Size (’000m2) 41.447 Average Suite Size (’000m2) 18.200 Office Content (%) 0 Office Content (%) 5 Office Content (%) 2 Car Parking Spaces n/a Car Parking Spaces 210 Car Parking Spaces 12 Acquisition Date Dec 2002 Acquisition Date Oct 1995 Acquisition Date Jul 1997 Acquisition Price plus Additions (A$’m) 19.8 Acquisition Price plus Additions (A$’m) 25.4 Acquisition Price plus Additions (A$’m) 10.6 Book Value (A$’m) 24.6 Book Value (A$’m) 36.5 Book Value (A$’m) 12.8 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2006 Independent Valuation (A$’m) 21.3 Independent Valuation (A$’m) 35.0 Independent Valuation (A$’m) 12.8 Capitalisation Rate (%) 9.75 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.25 Average Passing Rent (A$/m2) 29 Average Passing Rent (A$/m2) 84 Average Passing Rent (A$/m2) 70 Average Market Rent (A$/m2) 28 Average Market Rent (A$/m2) 60 Average Market Rent (A$/m2) 55 Initial Yield (%) 9.50 Initial Yield (%) 9.54 Initial Yield (%) 8.93 Discount Rate (%) 10.25 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant Elders Limited Major Tenant Target Australia Major Tenant K&S Blakistons Pty Limited Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 6.0 Weighted Lease Term by Income (years) 5.8 Weighted Lease Term by Income (years) 0.0 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 100 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 100 Year 2012 (%) 100 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 65 industrial portfolio – australia (continued)

Pound Road West Redwood Gardens Industrial 352 Macaulay Road Dandenong, VIC Estate, Boundary Road Kensington, VIC Dingley, VIC The property is located in the south east of The property is situated on the northern Melbourne, approximately 36 kilometres from An estate of 24 larger office/warehouses side of Macaulay Road within the suburb the CBD. The property has excellent access comprising a total of around 35,000 square of Kensington and the municipal boundaries to the South Gippsland Freeway (Monash metres. The estate underwent a major of the City of Moonee Valley. Freeway) and South Gippsland Highway. refurbishment during 2002 at a cost of The estate is situated approximately four 1.6 million, which included upgraded kilometres north west of Melbourne’s CBD. façades and landscaping. Kensington benefits from a central location close to major roads including the Citilink tollway, The estate is located on Boundary Road opposite the Moorabbin Airport. Westgate, Tullamarine and Monash Freeways and the Western Ring Road.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Industrial Estate Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 2001 to 2005 Year Built 1980s Year Built 1985 Zoning Business 3 Zoning Industrial 1 Zoning Industrial Zone 1 Site Area (ha) 19.0 Site Area (ha) 9.0 Site Area (ha) 1.0 Lettable Area (’000m2) 74.642 Lettable Area (’000m2) 34.573 Lettable Area (’000m2) 6.357 Site Coverage (%) 39 Site Coverage (%) 38 Site Coverage (%) 66 Number of Buildings 5 Number of Buildings 14 Number of Buildings 3 Number of Suites 5 Number of Suites 14 Number of Suites 6 Average Suite Size (’000m2) 14.928 Average Suite Size (’000m2) 2.469 Average Suite Size (’000m2) 1.060 Office Content (%) 5 Office Content (%) 25 Office Content (%) 63 Car Parking Spaces 191 Car Parking Spaces 798 Car Parking Spaces 100 Acquisition Date Jan 2004 Acquisition Date Dec 1994 Acquisition Date Oct 1998 Acquisition Price plus Additions (A$’m) 56.7 Acquisition Price plus Additions (A$’m) 23.2 Acquisition Price plus Additions (A$’m) 7.6 Book Value (A$’m) 58.0 Book Value (A$’m) 28.9 Book Value (A$’m) 8.9 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Dec 2005 Independent Valuation (A$’m) 56.3 Independent Valuation (A$’m) 28.9 Independent Valuation (A$’m) 8.9 Capitalisation Rate (%) 8.20 Capitalisation Rate (%) 7.63 Capitalisation Rate (%) 7.75 Average Passing Rent (A$/m2) 73 Average Passing Rent (A$/m2) 63 Average Passing Rent (A$/m2) 111 Average Market Rent (A$/m2) 73 Average Market Rent (A$/m2) 62 Average Market Rent (A$/m2) 113 Initial Yield (%) 8.16 Initial Yield (%) 7.57 Initial Yield (%) 7.90 Discount Rate (%) 9.00 Discount Rate (%) 8.75 Discount Rate (%) 9.00 Major Tenant Westgate Logistics Pty Limited Major Tenant EDAG Future Pty Ltd Major Tenant Dairy Technical Services Limited Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) (%) 100 Weighted Lease Term by Income (years) 5.0 Weighted Lease Term by Income (years) 3.5 Weighted Lease Term by Income (years) 1.8 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 13 Year 2007 (%) 21 Year 2007 (%) 48 Year 2008 (%) 0 Year 2008 (%) 12 Year 2008 (%) 0 Year 2009 (%) 21 Year 2009 (%) 30 Year 2009 (%) 25 Year 2010 (%) 0 Year 2010 (%) 11 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 28 Year 2012 (%) 24 Year 2012 (%) 13 Year 2012 (%) 0 Year 2013 (%) 9 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 33 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 13 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 66

Knoxfield Industrial Estate 250 Forest Road South DB RREEF Industrial Estate Henderson Road, Knoxfield, VIC Lara, VIC Boundary Road, Laverton North, VIC

The property consists of two substantial office/ The property is located at Lara, between the The property is located in Laverton North, warehouses for Toll Holdings (36,000 square ports of Melbourne and Geelong approximately 57 approximately 17 kilometres to the east of the metres) and the Distribution Group (12,600 kilometres south west of Melbourne and Melbourne CBD and Ports. The property’s square metres). 10 kilometres north of Geelong. The property location is seen to be a natural extension The estate is located on Henderson Road is situated on the western side of Forest Road westward of the popular and now essentially in the south eastern suburb of Knoxfield. South approximately 400 metres north of the fully committed Angliss Industrial Estate. Heales Road intersection. The site is within close proximity to the Surrounding development is generally large Western Ring Road which is accessed at the

scale industrial use with tenants including interchange at Boundary Road approximately the Ford Motor Company, BHP Billiton three kilometres to the east and Fitzgerald Road and rural enterprise. approximately three kilometres to the north. The West Gate Freeway/Geelong Road and Hume Freeway are accessible via the Western Ring Road.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Industrial Estate Title Freehold Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Year Built 1990 to 1996 Year Built 1985 and 1990 Year Built 2005 to 2006 Zoning Industrial Zoning Industrial 2 Zoning Industrial 2 Site Area (ha) 7.4 Site Area (ha) 24.6 Site Area (ha) 92.5 Lettable Area (’000m2) 48.548 Lettable Area (’000m2) 117.294 Lettable Area (’000m2)* 20.287 Site Coverage (%) 66 Site Coverage (%) 48 Site Coverage (%) 2 Number of Buildings 2 Number of Buildings 4 Number of Buildings 1 Number of Suites 2 Number of Suites 1 Number of Suites 1 Average Suite Size (’000m2) 24.274 Average Suite Size (’000m2) 117.294 Average Suite Size (’000m2) 20.287 Office Content (%) 3 Office Content (%) 1 Office Content (%) 8 Car Parking Spaces 275 Car Parking Spaces 122 Car Parking Spaces n/a Acquisition Date Aug 1996 Acquisition Date Dec 2002 Acquisition Date Jul 2002 Acquisition Price plus Additions (A$’m) 30.1 Acquisition Price plus Additions (A$’m) 33.8 Acquisition Price plus Additions (A$’m) 94.4 Book Value (A$’m) 37.1 Book Value (A$’m) 40.9 Book Value (A$’m) 97.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2005 Independent Valuation Date Jun 2004 Independent Valuation (A$’m) 37.1 Independent Valuation (A$’m) 34.6 Independent Valuation (A$’m) 23.7 Capitalisation Rate (%) 8.0 Capitalisation Rate (%) 9.75 Capitalisation Rate (%) 7.75 Average Passing Rent (A$/m2) 60 Average Passing Rent (A$/m2) 33 Average Passing Rent (A$/m2) 131 Average Market Rent (A$/m2) 60 Average Market Rent (A$/m2) 28 Average Market Rent (A$/m2) 131 Initial Yield (%) 8.00 Initial Yield (%) 10.57 Initial Yield (%) n/a Discount Rate (%) 8.70 Discount Rate (%) 10.00 Discount Rate (%) 0 Major Tenant Toll Transport Major Tenant Elders Limited Major Tenant Coles Myer Limited Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.7 Weighted Lease Term by Income (years) 6.0 Weighted Lease Term by Income (years) 15.2 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 74 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 26 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 100 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 100

DB RREEF Trust Property Synopsis 2006 67 industrial portfolio – australia (continued)

Axxess Corporate Park, Cnr 68 Hasler Road Ferntree Gully & Gilby Roads Herdsman, WA Mount Waverley, VIC The property is located in the Herdsman Business Axxess currently comprises around 85,000 square Park which is approximately seven kilometres metres of office and office/warehouses. This north west of the Perth CBD. encompasses smaller units of around 250–1,000 The Herdsman Business Park is well serviced square metres primarily built by the surrounding roads and freeways from the mid–1980s to the 1990s, as well including the Mitchell Freeway which extends as modern office/warehouses ranging from from the Perth CBD to link with the north 1,500–6,000 square metres. western suburban coastal locations. Axxess is located on Ferntree Gully Road, but also has frontages to Forster and Gilby Roads. It is located within 250 metres of the Monash Freeway and is close to Monash University.

Details Details Building Type Industrial Estate Building Type Business Park Title Freehold Title Freehold Ownership (%) 100 Ownership (%) 100 Year Built 1980 to 2006 Year Built 1989 Zoning Business 3 Zone Zoning General Industrial Site Area (ha) 19.6 Site Area (ha) 0.8 Lettable Area (’000m2) 84.108 Lettable Area (’000m2) 4.703 Site Coverage (%) 43 Site Coverage (%) 60 Number of Buildings 29 Number of Buildings 2 Number of Suites 119 Number of Suites 1 Average Suite Size (’000m2) 0.707 Average Suite Size (’000m2) 4.703 Office Content (%) 40 Office Content (%) 67 Car Parking Spaces 1,240 Car Parking Spaces 128 Acquisition Date Oct 1996 Acquisition Date Jul 1998 Acquisition Price plus Additions (A$’m) 140.6 Acquisition Price plus Additions (A$’m) 9.4 Book Value (A$’m) 170.0 Book Value (A$’m) 9.5 Independent Valuation Date Dec 2005 Independent Valuation Date Jun 2004 Independent Valuation (A$’m) 147.8 Independent Valuation (A$’m) 8.0 Capitalisation Rate (%) 7.83 Capitalisation Rate (%) 8.50 Average Passing Rent (A$/m2) 139 Average Passing Rent (A$/m2) 155 Average Market Rent (A$/m2) 141 Average Market Rent (A$/m2) 165 Initial Yield (%) 7.20 Initial Yield (%) 8.50 Discount Rate (%) 8.75 Discount Rate (%) 10.90 Major Tenant Alinta Limited Major Tenant Canon Australia Pty Limited Occupancy (%) 97 Occupancy (%) 100 Weighted Lease Term by Income (years) 5.4 Weighted Lease Term by Income (years) 3.3 Available (%) 2 Available (%) 0 Year 2007 (%) 12 Year 2007 (%) 0 Year 2008 (%) 10 Year 2008 (%) 0 Year 2009 (%) 8 Year 2009 (%) 0 Year 2010 (%) 7 Year 2010 (%) 100 Year 2011 (%) 2 Year 2011 (%) 0 Year 2012 (%) 11 Year 2012 (%) 0 Year 2013 (%) 11 Year 2013 (%) 0 Year 2014 (%) 7 Year 2014 (%) 0 Year 2015 (%) 2 Year 2015 (%) 0 Year 2016+ (%) 16 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 68 industrial

5823 Newton Drive, San Diego CA

DB RREEF Trust Property Synopsis 2006 69 industrial portfolio – united states

3765 Atlanta Industrial Drive 7100 Highlands Parkway, Atlanta Stone Mountain, Atlanta Atlanta

I–20 West Fulton Submarket, approximately I–20 West Fulton Submarket, three miles from Approximately 10 miles from I–85 and three two miles from the intersection of the I–285 and I–285, approximately 15 miles from downtown miles from US 78. Stone Mountain is located Bankhead Highway and five miles from the I–20 Atlanta and ten miles from the Atlanta airport. approximately 23 miles from downtown Atlanta Fulton Industrial Parkway Intersection. Fifteen One story, concrete tilt-up, single tenant flex and 28 miles from the Atlanta airport. The miles west of downtown Atlanta. Approximately building. Roof system is membrane/EPDM. property is one mile from the intersection of ten miles from the Atlanta airport. One story, South Royal Drive and Mountain Industrial/ concrete tilt-up, multi-tenant warehouse Jimmy Carter Boulevard. Three, one story, building. Roof system is membrane/EPDM. brick, multi-tenant warehouse buildings. Roof systems are built-up tar and metal.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning 12 Zoning HI Zoning M (Light Industrial) Year Built 1986 Year Built 1997 Year Built 1987 to 1989 Site Area (acres) 10.3 Site Area (acres) 25.0 Site Area (acres) 6.5 Lettable area (’000sf) 162.0 Lettable area (’000sf) 150.0 Lettable area (’000sf) 134.2 Site Coverage (%) 36 Site Coverage (%) 14 Site Coverage (%) 47 Number of Buildings 1 Number of Buildings 1 Number of Buildings 3 Number of Suites 2 Number of Suites 1 Number of Suites 16 Average Suite Size (’000sf) 81.0 Average Suite Size (’000sf) 150.0 Average Suite Size (’000sf) 8.4 Office Content (%) 12 Office Content (%) 100 Office Content (%) 22 Parking Space Ratio (sf) 1.56 per 1,000 sf Parking Space Ratio (sf) 70 per 1,000 sf Parking Space Ratio (sf) 1.48 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 4.8 Acquisition Price plus Additions (US$’m) 14.0 Acquisition Price plus Additions (US$’m) 7.0 Book Value (US$’m) 3.7 Book Value (US$’m) 14.0 Book Value (US$’m) 4.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 3.7 Independent Valuation (US$’m) 14.0 Independent Valuation (US$’m) 4.9 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 9.00 Average Passing Rent (US$/sf) 2.89 Average Passing Rent (US$/sf) 7.92 Average Passing Rent (US$/sf) 3.85 Average Market Rent (US$/sf) 2.89 Average Market Rent (US$/sf) 7.92 Average Market Rent (US$/sf) 3.85 Discount Rate (%) 9.00 Discount Rate (%) 8.50 Discount Rate (%) 10.00 Major Tenant Fedex Ground Package System Major Tenant International Business Machine Major Tenant Valet Dry Cleaning Of Atlanta Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 87 Weighted Lease Term by Income (years) 0.9 Weighted Lease Term by Income (years) 1.0 Weighted Lease Term by Income (years) 3.0 Available (%) 0 Available (%) 0 Available (%) 14 Year 2007 (%) 62 Year 2007 (%) 0 Year 2007 (%) 6 Year 2008 (%) 38 Year 2008 (%) 100 Year 2008 (%) 17 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 33 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 10 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 16 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 5 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 70

Town Park Drive, Atlanta Williams Drive, Atlanta Bristol Court, Baltimore

North west submarket, proximate to both North west submarket, along I–75 and I–575. Located in the Baltimore/Washington Industrial I–75 and I–575 via Chastain Road. Two, Nearby to Canton Road (Highway Spur 5) at Park (BWIP), which is just off US Route 1 one story, concrete tilt-up, multi-tenant flex the intersection of Williams Drive and Guffen. between Route 175 and Route 32. Two, one buildings. Roof system is membrane/EPDM. Three, one story, brick and steel, single/multi- story, concrete tilt-up multi-tenant warehouse tenant warehouse buildings. Roof systems are buildings. Roof systems are membrane/EPDM. modified bitumen and roof membrane.

Details Details Details Building Type Business Park Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning OS Zoning LI Zoning M–2 Manufacturing Heavy Year Built 1995 Year Built 1987 Year Built 1986 to 1987 Site Area (acres) 10.0 Site Area (acres) 14.3 Site Area (acres) 10.6 Lettable area (’000sf) 121.4 Lettable area (’000sf) 208.3 Lettable area (’000sf) 133.1 Site Coverage (%) 28 Site Coverage (%) 34 Site Coverage (%) 29 Number of Buildings 2 Number of Buildings 3 Number of Buildings 2 Number of Suites 8 Number of Suites 14 Number of Suites 10 Average Suite Size (’000sf) 15.2 Average Suite Size (’000sf) 14.9 Average Suite Size (’000sf) 13.3 Office Content (%) 24 Office Content (%) 15 Office Content (%) 13 Parking Space Ratio (sf) 1.7 per 1,000 sf Parking Space Ratio (sf) 2.38 per 1,000 sf Parking Space Ratio (sf) 0.86 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 6.6 Acquisition Price plus Additions (US$’m) 9.6 Acquisition Price plus Additions (US$’m) 9.9 Book Value (US$’m) 7.9 Book Value (US$’m) 9.9 Book Value (US$’m) 11.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 7.9 Independent Valuation (US$’m) 9.6 Independent Valuation (US$’m) 11.3 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 5.99 Average Passing Rent (US$/sf) 3.56 Average Passing Rent (US$/sf) 6.78 Average Market Rent (US$/sf) 5.99 Average Market Rent (US$/sf) 3.56 Average Market Rent (US$/sf) 6.78 Discount Rate (%) 8.50 Discount Rate (%) 9.00 Discount Rate (%) 8.75 Major Tenant Healthtronics, Inc. Major Tenant Computer Data Exchange, Inc. Major Tenant Projection Video Services, Inc. Occupancy (%) 95 Occupancy (%) 90 Occupancy (%) 71 Weighted Lease Term by Income (years) 2.6 Weighted Lease Term by Income (years) 3.4 Weighted Lease Term by Income (years) 2.3 Available (%) 5 Available (%) 11 Available (%) 27 Year 2007 (%) 21 Year 2007 (%) 27 Year 2007 (%) 28 Year 2008 (%) 17 Year 2008 (%) 3 Year 2008 (%) 0 Year 2009 (%) 22 Year 2009 (%) 16 Year 2009 (%) 20 Year 2010 (%) 0 Year 2010 (%) 5 Year 2010 (%) 5 Year 2011 (%) 35 Year 2011 (%) 8 Year 2011 (%) 15 Year 2012 (%) 0 Year 2012 (%) 30 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 5 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 71 industrial portfolio – united states (continued)

Cabot Techs, Baltimore Fort Holabird Industrial, Baltimore 9112 Guilford Road, Baltimore

Located just north east of the intersection The buildings are located within one mile of Located off Route 32, just East of I–95. of I–295 (Baltimore/Washington Expressway) and the Interstate 95, Interstate 895 and the Port One story, masonry, single tenant, flex I–95. One story, masonry, multi-tenant, flex of Baltimore. Three, one story, brick and block building. Roof system is membrane/EPDM. buildings. Roof systems are membrane/EPDM. composite flex buildings.

Details Details Details Building Type Business Park Building Type Distribution Centre Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning W1 – Industrial Park District Zoning M–2–1 Industrial Zoning NT Year Built 1999 Year Built 1987 to 1990 Year Built 1999 Site Area (acres) 10.5 Site Area (acres) 10.8 Site Area (acres) 4.8 Lettable area (’000sf) 130.7 Lettable area (’000sf) 172.4 Lettable area (’000sf) 55.0 Site Coverage (%) 29 Site Coverage (%) 37 Site Coverage (%) 27 Number of Buildings 2 Number of Buildings 3 Number of Buildings 1 Number of Suites 5 Number of Suites 14 Number of Suites 1 Average Suite Size (’000sf) 26.1 Average Suite Size (’000sf) 12.3 Average Suite Size (’000sf) 55.0 Office Content (%) 92 Office Content (%) 20 Office Content (%) 100 Parking Space Ratio (sf) 5.06 per 1,000 sf Parking Space Ratio (sf) 1.35 per 1,000 sf Parking Space Ratio (sf) 2.93 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Jun 2005 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 20.8 Acquisition Price plus Additions (US$’m) 10.4 Acquisition Price plus Additions (US$’m) 8.1 Book Value (US$’m) 27.8 Book Value (US$’m) 11.4 Book Value (US$’m) 10.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 27.8 Independent Valuation (US$’m) 11.2 Independent Valuation (US$’m) 10.0 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.15 Capitalisation Rate (%) 7.50 Average Passing Rent (US$/sf) 15.17 Average Passing Rent (US$/sf) 5.47 Average Passing Rent (US$/sf) 11.31 Average Market Rent (US$/sf) 15.17 Average Market Rent (US$/sf) 5.47 Average Market Rent (US$/sf) 11.31 Discount Rate (%) 8.50 Discount Rate (%) 0 Discount Rate (%) 8.50 Major Tenant Erickson Retirement Communities Major Tenant Fedex Ground Package System Major Tenant Sandy Spring Nat’L Bank Of Md Occupancy (%) 100 Occupancy (%) 92 Occupancy (%) 100 Weighted Lease Term by Income (years) 4.1 Weighted Lease Term by Income (years) 2.4 Weighted Lease Term by Income (years) 8.6 Available (%) 0 Available (%) 7 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 15 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 3 Year 2008 (%) 0 Year 2009 (%) 17 Year 2009 (%) 48 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 28 Year 2010 (%) 0 Year 2011 (%) 61 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 14 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 8 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 100 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 72

MD Food Park, Baltimore NE Baltimore, Baltimore Patuxent Range Road, Baltimore

The buildings are located in the MD Wholesale The buildings are located just off Route 7, one– Located in the Baltimore/Washington Industrial Food Market which is just off Route US 1 at half mile north of I–695 (Baltimore Beltway). Park (BWIP), which is just off US Route 1 Route 175. Two, one story, masonry and metal, Two, one story, masonry multi-tenant between Route 175 and Route 32. One story, multi-tenant warehouse buildings. Roof systems warehouse/flex buildings. Roof systems concrete tilt-up, multi-tenant warehouse are metal. are membrane/EPDM. buildings. Roof system is membrane/EPDM.

Details Details Details Building Type Distribution Centre Building Type Industrial Estate Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M–1 Zoning ML–IM Zoning M–2 Manufacturing Heavy Year Built 1987 to 1990 Year Built 1988 Year Built 1985 Site Area (acres) 19.8 Site Area (acres) 7.0 Site Area (acres) 9.1 Lettable area (’000sf) 453.9 Lettable area (’000sf) 108.8 Lettable area (’000sf) 151.9 Site Coverage (%) 53 Site Coverage (%) 36 Site Coverage (%) 38 Number of Buildings 2 Number of Buildings 2 Number of Buildings 2 Number of Suites 3 Number of Suites 16 Number of Suites 15 Average Suite Size (’000sf) 151.3 Average Suite Size (’000sf) 6.8 Average Suite Size (’000sf) 10.1 Office Content (%) 1 Office Content (%) 33 Office Content (%) 22 Parking Space Ratio (sf) 0.24 per 1,000 sf Parking Space Ratio (sf) 2.17 per 1,000 sf Parking Space Ratio (sf) 0.85 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 18.6 Acquisition Price plus Additions (US$’m) 7.2 Acquisition Price plus Additions (US$’m) 11.5 Book Value (US$’m) 25.1 Book Value (US$’m) 8.4 Book Value (US$’m) 12.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 23.3 Independent Valuation (US$’m) 8.4 Independent Valuation (US$’m) 12.9 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 3.97 Average Passing Rent (US$/sf) 5.36 Average Passing Rent (US$/sf) 6.40 Average Market Rent (US$/sf) 3.97 Average Market Rent (US$/sf) 5.36 Average Market Rent (US$/sf) 6.40 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 8.50 Major Tenant B&E Storage Major Tenant Goodman Distribution, Inc. Major Tenant National Coatings, Inc. Occupancy (%) 70 Occupancy (%) 95 Occupancy (%) 83 Weighted Lease Term by Income (years) 2.2 Weighted Lease Term by Income (years) 4.2 Weighted Lease Term by Income (years) 2.9 Available (%) 32 Available (%) 16 Available (%) 16 Year 2007 (%) 0 Year 2007 (%) 22 Year 2007 (%) 15 Year 2008 (%) 47 Year 2008 (%) 9 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 15 Year 2010 (%) 0 Year 2010 (%) 30 Year 2010 (%) 41 Year 2011 (%) 20 Year 2011 (%) 17 Year 2011 (%) 13 Year 2012 (%) 0 Year 2012 (%) 5 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 73 industrial portfolio – united states (continued)

8155 Stayton Drive, Baltimore West Nursery, Baltimore 10 Kenwood Circle, Boston

Located in the Baltimore/Washington Industrial Located just east of the intersection of The property is located at the intersection Park (BWIP), which is just off Route 1 between I–295 (Baltimore/Washington Expressway) of 495 and Route 140 (Exit 17) at Grove Street. Route 175 and Route 32. One story, masonry, and I–695 (Baltimore Beltway) interchange. One story, masonry multi-tenant warehouse multi-tenant warehouse/flex building. Roof Two, one story, masonry and metal, buildings. Roof system is built-up tar. system is built-up tar. multi-tenant, warehouse/flex buildings. Roof systems are metal.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M–2 Manufacturing Heavy Zoning W1 – Industrial Park District Zoning M1 Year Built 1985 Year Built 1990 Year Built 1987 Site Area (acres) 9.0 Site Area (acres) 7.8 Site Area (acres) 11.6 Lettable area (’000sf) 125.7 Lettable area (’000sf) 88.1 Lettable area (’000sf) 153.4 Site Coverage (%) 32 Site Coverage (%) 26 Site Coverage (%) 30 Number of Buildings 1 Number of Buildings 2 Number of Buildings 1 Number of Suites 2 Number of Suites 5 Number of Suites 3 Average Suite Size (’000sf) 62.833 Average Suite Size (’000sf) 17.6 Average Suite Size (’000sf) 51.1 Office Content (%) 6 Office Content (%) 46 Office Content (%) 4 Parking Space Ratio (sf) 0.72 per 1,000 sf Parking Space Ratio (sf) 2.38 per 1,000 sf Parking Space Ratio (sf) 1.03 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 6.9 Acquisition Price plus Additions (US$’m) 7.2 Acquisition Price plus Additions (US$’m) 10.7 Book Value (US$’m) 7.9 Book Value (US$’m) 8.6 Book Value (US$’m) 11.1 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 7.9 Independent Valuation (US$’m) 8.2 Independent Valuation (US$’m) 11.1 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 4.64 Average Passing Rent (US$/sf) 6.56 Average Passing Rent (US$/sf) 5.68 Average Market Rent (US$/sf) 4.64 Average Market Rent (US$/sf) 6.56 Average Market Rent (US$/sf) 5.68 Discount Rate (%) 8.50 Discount Rate (%) 9.00 Discount Rate (%) 8.00 Major Tenant Builder Resource Supply Major Tenant DHL Express (USA), Inc. Major Tenant KSI Trading Corporation Occupancy (%) 100 Occupancy (%) 99 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.2 Weighted Lease Term by Income (years) 6.0 Weighted Lease Term by Income (years) 1.7 Available (%) 0 Available (%) 1 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 4 Year 2007 (%) 21 Year 2008 (%) 37 Year 2008 (%) 9 Year 2008 (%) 0 Year 2009 (%) 23 Year 2009 (%) 0 Year 2009 (%) 79 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 47 Year 2011 (%) 0 Year 2012 (%) 40 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 21 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 18 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 74

9900 Brookford Street, Charlotte Commerce Park, Charlotte Westinghouse, Charlotte

The property is located north west of the Located at the intersection of I–77 and The property is south west of I–485 and north east intersection of I–77, Westinghouse Boulevard exit Westinghouse Boulevard. Three, one story, of Route 160 at the intersection of Westinghouse and south west of the I–485, Tyron Avenue exit. concrete tilt-up/masonry, multi-tenant Boulevard and Goodrich Drive. Four, one story, One story, masonry, multi-tenant warehouse warehouse buildings. Roof systems are concrete tilt-up masonry, single tenant warehouse building. Roof systems are membrane EPDM. membrane EPDM and built-up tar. buildings. Roof systems are membrane EPDM.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I–2 Zoning I–2 Zoning I–2 Year Built 1984 Year Built 1981 to 1988 Year Built 1984 to 1994 Site Area (acres) 10.9 Site Area (acres) 11.3 Site Area (acres) 31.2 Lettable area (’000sf) 122.0 Lettable area (’000sf) 192.6 Lettable area (’000sf) 568.5 Site Coverage (%) 26 Site Coverage (%) 39 Site Coverage (%) 42 Number of Buildings 1 Number of Buildings 2 Number of Buildings 4 Number of Suites 2 Number of Suites 10 Number of Suites 4 Average Suite Size (’000sf) 61.0 Average Suite Size (’000sf) 19.3 Average Suite Size (’000sf) 142.1 Office Content (%) 12 Office Content (%) 10 Office Content (%) 6 Parking Space Ratio (sf) 0.66 per 1,000 sf Parking Space Ratio (sf) 0.60 per 1,000 sf Parking Space Ratio (sf) 0.72 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 3.8 Acquisition Price plus Additions (US$’m) 7.0 Acquisition Price plus Additions (US$’m) 19.0 Book Value (US$’m) 3.8 Book Value (US$’m) 7.3 Book Value (US$’m) 19.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 3.8 Independent Valuation (US$’m) 7.3 Independent Valuation (US$’m) 18.5 Capitalisation Rate (%) 9.00 Capitalisation Rate (%) 8.75 Capitalisation Rate (%) 8.75 Average Passing Rent (US$/sf) 3.09 Average Passing Rent (US$/sf) 3.55 Average Passing Rent (US$/sf) 3.04 Average Market Rent (US$/sf) 3.09 Average Market Rent (US$/sf) 3.55 Average Market Rent (US$/sf) 3.04 Discount Rate (%) 9.75 Discount Rate (%) 9.75 Discount Rate (%) 9.50 Major Tenant Lance, Inc. Major Tenant Carolina Logistics Services, Inc. Major Tenant Northern Tool & Equipment Co. Occupancy (%) 100 Occupancy (%) 87 Occupancy (%) 77 Weighted Lease Term by Income (years) 1.1 Weighted Lease Term by Income (years) 1.3 Weighted Lease Term by Income (years) 2.4 Available (%) 0 Available (%) 12 Available (%) 24 Year 2007 (%) 38 Year 2007 (%) 34 Year 2007 (%) 20 Year 2008 (%) 62 Year 2008 (%) 41 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 13 Year 2009 (%) 15 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 41 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 75 industrial portfolio – united states (continued)

Airport Exchange, Cincinatti/ 124 Commerce, Cincinatti/ Empire Drive, Cincinatti/ North Kentucky North Kentucky North Kentucky

The property is located north of the I–275, The property is located just south of the I–71/ Proximate to I–71/75 and Dixie Highway just Mineola Pike exit. One story, concrete tilt-up Fields Ertel Road exit at Loveland Industrial south west of the Dixie Highway and Industrial multi-tenant flex building. Roof system is Park. One story, masonry, single tenant Road intersection. Three, one story, masonry membrane/EPDM. warehouse building. Roof system is metal. single/multi-tenant warehouse buildings. Roof systems are membrane/EPDM.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I–1 Zoning L–1 Light Industrial Zoning I–2 Year Built 1997 Year Built 1989 Year Built 1991 to 1997 Site Area (acres) 5.7 Site Area (acres) 4.3 Site Area (acres) 29.9 Lettable area (’000sf) 67.7 Lettable area (’000sf) 34.6 Lettable area (’000sf) 196.9 Site Coverage (%) 27 Site Coverage (%) 18 Site Coverage (%) 15 Number of Buildings 1 Number of Buildings 1 Number of Buildings 3 Number of Suites 5 Number of Suites 1 Number of Suites 9 Average Suite Size (’000sf) 13.6 Average Suite Size (’000sf) 34.6 Average Suite Size (’000sf) 21.9 Office Content (%) 21 Office Content (%) 13 Office Content (%) 14 Parking Space Ratio (sf) 1.98 per 1,000 sf Parking Space Ratio (sf) 2.49 per 1,000 sf Parking Space Ratio (sf) 1.31 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 3.9 Acquisition Price plus Additions (US$’m) 2.3 Acquisition Price plus Additions (US$’m) 5.4 Book Value (US$’m) 3.7 Book Value (US$’m) 2.5 Book Value (US$’m) 6.3 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 3.7 Independent Valuation (US$’m) 2.5 Independent Valuation (US$’m) 5.7 Capitalisation Rate (%) 8.75 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 9.50 Average Passing Rent (US$/sf) 5.54 Average Passing Rent (US$/sf) 5.83 Average Passing Rent (US$/sf) 3.72 Average Market Rent (US$/sf) 5.54 Average Market Rent (US$/sf) 5.83 Average Market Rent (US$/sf) 3.72 Discount Rate (%) 9.50 Discount Rate (%) 9.25 Discount Rate (%) 11.00 Major Tenant Comair, Inc. Major Tenant Federal Express Kinkos Corp. Major Tenant BWF America, Inc. Occupancy (%) 80 Occupancy (%) 100 Occupancy (%) 49 Weighted Lease Term by Income (years) 1.8 Weighted Lease Term by Income (years) 4.6 Weighted Lease Term by Income (years) 2.5 Available (%) 17 Available (%) 0 Available (%) 36 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 14 Year 2008 (%) 43 Year 2008 (%) 0 Year 2008 (%) 12 Year 2009 (%) 40 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 38 Year 2011 (%) 0 Year 2011 (%) 100 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 76

International Way, Cincinatti/ Kentucky Drive, Cincinatti/ Kenwood Road, Cincinatti/ North Kentucky North Kentucky North Kentucky

Located at the intersection of I–275 and North The property is located just east of I–71/75, The property is located just west of the I–71/ Bend Road at South Park. One story, concrete proximate to Dixie Highway and Industrial Road I–275 interchange. Seven, one story, concrete tilt-up, single tenant warehouse building. Roof intersection. Two, one story, concrete tilt-up tilt-up/masonry and metal, single/multi-tenant system is membrane/EPDM. and masonry and metal, single/multi-tenant warehouse buildings. Roof systems are built-up warehouse/flex buildings. Roof systems are tar and metal. membrane/EPDM and metal.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I–1 Zoning I–2 Zoning M–1 Industrial District Year Built 1990 Year Built 1991 to 1998 Year Built 1964 to 1975 Site Area (acres) 10.4 Site Area (acres) 27.8 Site Area (acres) 40.7 Lettable area (’000sf) 300.0 Lettable area (’000sf) 347.4 Lettable area (’000sf) 770.1 Site Coverage (%) 66 Site Coverage (%) 29 Site Coverage (%) 43 Number of Buildings 1 Number of Buildings 2 Number of Buildings 7 Number of Suites 2 Number of Suites 3 Number of Suites 11 Average Suite Size (’000sf) 150.0 Average Suite Size (’000sf) 115.8 Average Suite Size (’000sf) 70.0 Office Content (%) 1 Office Content (%) 17 Office Content (%) 4 Parking Space Ratio (sf) 0.45 per 1,000 sf Parking Space Ratio (sf) 1.07 per 1,000 sf Parking Space Ratio (sf) 0.44 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 10.2 Acquisition Price plus Additions (US$’m) 11.0 Acquisition Price plus Additions (US$’m) 17.8 Book Value (US$’m) 10.8 Book Value (US$’m) 12.1 Book Value (US$’m) 16.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 10.8 Independent Valuation (US$’m) 12.1 Independent Valuation (US$’m) 16.6 Capitalisation Rate (%) 8.75 Capitalisation Rate (%) 8.75 Capitalisation Rate (%) 9.25 Average Passing Rent (US$/sf) 2.70 Average Passing Rent (US$/sf) 3.97 Average Passing Rent (US$/sf) 2.80 Average Market Rent (US$/sf) 2.70 Average Market Rent (US$/sf) 3.97 Average Market Rent (US$/sf) 2.80 Discount Rate (%) 9.50 Discount Rate (%) 9.25 Discount Rate (%) 10.00 Major Tenant Qualis Automotive Major Tenant Continental Pet Technologies Major Tenant Commonweatlh, Inc. Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 89 Weighted Lease Term by Income (years) 8.3 Weighted Lease Term by Income (years) 1.7 Weighted Lease Term by Income (years) 1.8 Available (%) 0 Available (%) 0 Available (%) 8 Year 2007 (%) 0 Year 2007 (%) 58 Year 2007 (%) 21 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 9 Year 2009 (%) 0 Year 2009 (%) 8 Year 2009 (%) 62 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 34 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 100 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 77 industrial portfolio – united states (continued)

Lake Forest Drive, Cincinatti/ Spiral Drive, Cincinatti/ Turfway Road, Cincinatti/ North Kentucky North Kentucky North Kentucky

North west of I–71 and proximate to the The property is located just north of the The property is located at the I–71/I–275 Blue Ash Airport, just off Reed Hartman I–71/ Houston Road exit. Two, one story, brick interchange. Three, one story, masonry and Highway. Two, one story, masonry and on block, single/multi-tenant flex buildings. metal, multi-tenant warehouse/flex buildings. metal, multi-tenant warehouse buildings. Roof systems are built-up tar. Roof systems are membrane/EPDM. Roof systems are built-up tar.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M–1 Industrial District Zoning I–1 Zoning I–1 Year Built 1978 to 1979 Year Built 1988 to 1989 Year Built 1990 to 1996 Site Area (acres) 23.1 Site Area (acres) 6.0 Site Area (acres) 12.0 Lettable area (’000sf) 417.0 Lettable area (’000sf) 61.6 Lettable area (’000sf) 111.9 Site Coverage (%) 42 Site Coverage (%) 24 Site Coverage (%) 21 Number of Buildings 2 Number of Buildings 2 Number of Buildings 3 Number of Suites 9 Number of Suites 13 Number of Suites 9 Average Suite Size (’000sf) 46.3 Average Suite Size (’000sf) 4.7 Average Suite Size (’000sf) 12.4 Office Content (%) 5 Office Content (%) 74 Office Content (%) 17 Parking Space Ratio (sf) 0.43 per 1,000 sf Parking Space Ratio (sf) 4.09 per 1,000 sf Parking Space Ratio (sf) 1.05 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 12.0 Acquisition Price plus Additions (US$’m) 5.3 Acquisition Price plus Additions (US$’m) 4.8 Book Value (US$’m) 12.3 Book Value (US$’m) 4.5 Book Value (US$’m) 4.8 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 12.3 Independent Valuation (US$’m) 4.5 Independent Valuation (US$’m) 4.8 Capitalisation Rate (%) 9.00 Capitalisation Rate (%) 9.00 Capitalisation Rate (%) 9.25 Average Passing Rent (US$/sf) 2.78 Average Passing Rent (US$/sf) 9.55 Average Passing Rent (US$/sf) 4.02 Average Market Rent (US$/sf) 2.78 Average Market Rent (US$/sf) 9.55 Average Market Rent (US$/sf) 4.02 Discount Rate (%) 9.75 Discount Rate (%) 9.00 Discount Rate (%) 10.25 Major Tenant Patheon Pharmaceuticals Major Tenant Internal Revenue Service Major Tenant Toshiba International Corporation Occupancy (%) 100 Occupancy (%) 83 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.9 Weighted Lease Term by Income (years) 6.1 Weighted Lease Term by Income (years) 1.9 Available (%) 0 Available (%) 21 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 21 Year 2007 (%) 45 Year 2008 (%) 27 Year 2008 (%) 12 Year 2008 (%) 19 Year 2009 (%) 20 Year 2009 (%) 0 Year 2009 (%) 11 Year 2010 (%) 30 Year 2010 (%) 9 Year 2010 (%) 7 Year 2011 (%) 22 Year 2011 (%) 0 Year 2011 (%) 18 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 36 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 78

World Park, Cincinatti/ Equity/Westbelt/Dividend 2700 International Street North Kentucky Columbus Columbus

West of I–75 and east of Route 747. The The properties are located just north of the North west of the I–270 and Roberts Road property is located near the intersection I–70 and I–270 interchange, between Tribune interchange. Single, one story, concrete tilt-up, of International Boulevard and Duff Drive. Road and Roberts Road. Five, one story, multi-tenant warehouse building. Roof system is Two, one story, concrete tilt-up, single concrete tilt-up, multi-tenant warehouse/flex membrane/EPDM. tenant warehouse buildings. Roof systems buildings. Roof systems are built-up tar and are built-up tar. membrane/EPDM.

Details Details Details Building Type Distribution Centre Building Type Industrial Estate Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M–2 General Industrial Zoning M–2 Manufacturing District Zoning M Manufacturing District Year Built 1990 Year Built 1980 Year Built 1988 Site Area (acres) 23.5 Site Area (acres) 56.0 Site Area (acres) 12.4 Lettable area (’000sf) 396.8 Lettable area (’000sf) 919.7 Lettable area (’000sf) 152.8 Site Coverage (%) 39 Site Coverage (%) 38 Site Coverage (%) 28 Number of Buildings 2 Number of Buildings 5 Number of Buildings 1 Number of Suites 2 Number of Suites 14 Number of Suites 3 Average Suite Size (’000sf) 198.4 Average Suite Size (’000sf) 65.7 Average Suite Size (’000sf) 50.9 Office Content (%) 4 Office Content (%) 33 Office Content (%) 7 Parking Space Ratio (sf) 0.91 per 1,000 sf Parking Space Ratio (sf) 1.32 per 1,000 sf Parking Space Ratio (sf) 2.55 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 12.1 Acquisition Price plus Additions (US$’m) 34.8 Acquisition Price plus Additions (US$’m) 3.8 Book Value (US$’m) 11.4 Book Value (US$’m) 37.2 Book Value (US$’m) 3.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 11.4 Independent Valuation (US$’m) 37.2 Independent Valuation (US$’m) 3.9 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 2.27 Average Passing Rent (US$/sf) 3.79 Average Passing Rent (US$/sf) 1.46 Average Market Rent (US$/sf) 2.27 Average Market Rent (US$/sf) 3.79 Average Market Rent (US$/sf) 1.46 Discount Rate (%) 9.50 Discount Rate (%) 8.50 Discount Rate (%) 8.50 Major Tenant Multi Color Corporation Major Tenant United Stationers Supply Co. Major Tenant USF Distribution Services Occupancy (%) 100 Occupancy (%) 96 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.6 Weighted Lease Term by Income (years) 4.0 Weighted Lease Term by Income (years) 5.4 Available (%) 0 Available (%) 3 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 3 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 10 Year 2008 (%) 0 Year 2009 (%) 100 Year 2009 (%) 39 Year 2009 (%) 38 Year 2010 (%) 0 Year 2010 (%) 3 Year 2010 (%) 62 Year 2011 (%) 0 Year 2011 (%) 27 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 15 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 79 industrial portfolio – united states (continued)

SE Columbus, Columbus 3800 Twin Creeks Drive 10th Street, Dallas Columbus

Intersection of 270 and Alum Creek Drive at The property is located just east of the I–70/ I– These properties are located north of I–90 in Rickenbacker Airport. Two, one story, concrete 270 interchange, at the N. Wilson Road exit. the city of Plano, Collin County, Texas. Two, tilt-up, multi-tenant warehouse buildings. One story, concrete tilt-up, multi-tenant multi-tenant, concrete tilt-up, warehouse/flex warehouse building. New fully adhered buildings. Roof systems are built-up tar. EPDM roof.

Details Details Details Building Type Distribution Centre Building Type Industrial Estate Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning Industrial, City of Columbus Zoning LM Manufacturing District, Limited Overlay Zoning LI –1 Light Industrial Year Built 1995 Year Built 1989 Year Built 1986 to 1999 Site Area (acres) 17.5 Site Area (acres) 9.8 Site Area (acres) 11.3 Lettable area (’000sf) 361.1 Lettable area (’000sf) 176.0 Lettable area (’000sf) 206.9 Site Coverage (%) 47 Site Coverage (%) 41 Site Coverage (%) 42 Number of Buildings 2 Number of Buildings 1 Number of Buildings 2 Number of Suites 4 Number of Suites 5 Number of Suites 7 Average Suite Size (’000sf) 90.3 Average Suite Size (’000sf) 35.2 Average Suite Size (’000sf) 29.6 Office Content (%) 10 Office Content (%) 11 Office Content (%) 12 Parking Space Ratio (sf) 0.63 per 1,000 sf Parking Space Ratio (sf) 0.54 per 1,000 sf Parking Space Ratio (sf) 2.1 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 12.8 Acquisition Price plus Additions (US$’m) 4.6 Acquisition Price plus Additions (US$’m) 9.0 Book Value (US$’m) 12.1 Book Value (US$’m) 5.1 Book Value (US$’m) 9.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 12.1 Independent Valuation (US$’m) 5.1 Independent Valuation (US$’m) 9.6 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 2.66 Average Passing Rent (US$/sf) 2.55 Average Passing Rent (US$/sf) 3.87 Average Market Rent (US$/sf) 2.66 Average Market Rent (US$/sf) 2.55 Average Market Rent (US$/sf) 3.87 Discount Rate (%) 8.50 Discount Rate (%) 8.50 Discount Rate (%) 9.00 Major Tenant Chasm Industries Ohio, Inc. Major Tenant R.J. Schinner & Co., Inc. Major Tenant Plastic Solutions Molding Inc. Occupancy (%) 93 Occupancy (%) 100 Occupancy (%) 88 Weighted Lease Term by Income (years) 7.6 Weighted Lease Term by Income (years) 2.8 Weighted Lease Term by Income (years) 2.4 Available (%) 8 Available (%) 0 Available (%) 12 Year 2007 (%) 7 Year 2007 (%) 0 Year 2007 (%) 42 Year 2008 (%) 0 Year 2008 (%) 16 Year 2008 (%) 11 Year 2009 (%) 0 Year 2009 (%) 60 Year 2009 (%) 13 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 12 Year 2011 (%) 8 Year 2012 (%) 0 Year 2012 (%) 12 Year 2012 (%) 0 Year 2013 (%) 39 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 46 Year 2016+ (%) 0 Year 2016+ (%) 14

DB RREEF Trust Property Synopsis 2006 80

455 Airline Drive, Dallas 555 Airline Drive, Dallas Arlington, Dallas

Located east of Highway 635 in the city of Situated east of Highway 35 in Carrollton, 912 113th Street is located near Interstate Coppell, Dallas County, Texas. This property is Texas, Denton County. The property can be Highway 30 in Arlington, Texas, Tarrant County. accessible from Airline Drive. One, single story, accessed from Dickerson Parkway or Bradley 2300 Randol Mill Road is located between concrete tilt-up, single tenant warehouse/ Lane. One, single story, concrete tilt-up, single Interstate Highway 30 and Interstate Highway distribution building. Roof system is tenant office/warehouse building. Roof system 20 just west of Highway 360. Two, single story, membrane/EPDM. is membrane/EPDM. concrete tilt-up, single tenant flex buildings. Roof systems are membrane/EPDM.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning LI 1 – Light Industrial Zoning Office/Warehouse Zoning IM – Industrial Manufacturing Year Built 1991 Year Built 1990 Year Built 1979 to 2000 Site Area (acres) 3.4 Site Area (acres) 3.0 Site Area (acres) 7.4 Lettable area (’000sf) 75.0 Lettable area (’000sf) 56.5 Lettable area (’000sf) 130.6 Site Coverage (%) 50 Site Coverage (%) 43 Site Coverage (%) 41 Number of Buildings 1 Number of Buildings 1 Number of Buildings 2 Number of Suites 1 Number of Suites 1 Number of Suites 2 Average Suite Size (’000sf) 75.0 Average Suite Size (’000sf) 56.5 Average Suite Size (’000sf) 65.3 Office Content (%) 4 Office Content (%) 25 Office Content (%) 55 Parking Space Ratio (sf) 1.09 per 1,000 sf Parking Space Ratio (sf) 1.34 per 1,000 sf Parking Space Ratio (sf) 1.51 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 3.1 Acquisition Price plus Additions (US$’m) 6.2 Acquisition Price plus Additions (US$’m) 8.8 Book Value (US$’m) 3.8 Book Value (US$’m) 6.9 Book Value (US$’m) 9.1 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 3.8 Independent Valuation (US$’m) 6.5 Independent Valuation (US$’m) 9.1 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 3.75 Average Passing Rent (US$/sf) 3.50 Average Passing Rent (US$/sf) 5.56 Average Market Rent (US$/sf) 3.75 Average Market Rent (US$/sf) 3.50 Average Market Rent (US$/sf) 5.56 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant Toyo Tire USA Corporation Major Tenant Rediform, Inc. Major Tenant B & E Industries, Ltd Occupancy (%) 100 Occupancy (%) 72 Occupancy (%) 100 Weighted Lease Term by Income (years) 5.3 Weighted Lease Term by Income (years) 1.5 Weighted Lease Term by Income (years) 4.7 Available (%) 0 Available (%) 28 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 72 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 100 Year 2012 (%) 100 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 81 industrial portfolio – united states (continued)

820–860 Avenue F, Dallas 1413 Bradley Lane, Dallas Capital Avenue, Dallas

The property is located east of North Central Situated east of Highway 35 in Carrollton, These buildings are located north of I–90 in Expressway in the city of Plano, Collin Texas, Denton County. The property can be the city of Plano, Collin County, Texas. Two, County, Texas. Three, single story, masonry, accessed from Dickerson Parkway or Bradley single story, concrete tilt-up, multi-tenant, multi-tenant flex buildings. Roof system is Lane. One, single story, concrete tilt-up, single warehouse/ flex buildings. Roof systems built-up tar. tenant office/warehouse building. Roof system is are built-up tar. membrane/EPDM.

Details Details Details Building Type Business Park Building Type Business Park Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning LI 1 – Light Industrial Zoning Office/Warehouse Zoning LI –1 Light Industrial Year Built 1984 Year Built 1984 Year Built 1986 to 1999 Site Area (acres) 5.3 Site Area (acres) 3.0 Site Area (acres) 5.7 Lettable area (’000sf) 73.1 Lettable area (’000sf) 56.5 Lettable area (’000sf) 100.5 Site Coverage (%) 31 Site Coverage (%) 43 Site Coverage (%) 40 Number of Buildings 3 Number of Buildings 1 Number of Buildings 2 Number of Suites 11 Number of Suites 1 Number of Suites 3 Average Suite Size (’000sf) 6.6 Average Suite Size (’000sf) 56.5 Average Suite Size (’000sf) 33.5 Office Content (%) 80 Office Content (%) 25 Office Content (%) 32 Parking Space Ratio (sf) 3.17 per 1,000 sf Parking Space Ratio (sf) 1.34 per 1,000 sf Parking Space Ratio (sf) 2.24 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 6.5 Acquisition Price plus Additions (US$’m) 3.1 Acquisition Price plus Additions (US$’m) 5.6 Book Value (US$’m) 7.2 Book Value (US$’m) 2.8 Book Value (US$’m) 5.7 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 7.2 Independent Valuation (US$’m) 2.8 Independent Valuation (US$’m) 5.7 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 9.41 Average Passing Rent (US$/sf) 5.25 Average Passing Rent (US$/sf) 3.15 Average Market Rent (US$/sf) 9.41 Average Market Rent (US$/sf) 5.25 Average Market Rent (US$/sf) 3.15 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant Software Remodeling, Inc. Major Tenant Allmetal, Inc. Major Tenant Probity Electronics Occupancy (%) 92 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.5 Weighted Lease Term by Income (years) 2.2 Weighted Lease Term by Income (years) 5.7 Available (%) 8 Available (%) 0 Available (%) 0 Year 2007 (%) 16 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 11 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 10 Year 2009 (%) 100 Year 2009 (%) 46 Year 2010 (%) 8 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 29 Year 2011 (%) 0 Year 2011 (%) 35 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 20 Year 2013 (%) 19 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 82

1900 Diplomat Drive, Dallas 2055 Diplomat Drive, Dallas East Collins, Dallas

Located west of Highway 35 in Carrollton, Texas, Located west of Highway 35 in Carrollton, The property is located east of North Central Denton County. The property is accessible by Texas, Denton County. The property is Expressway in the city of Richardson, Dallas Benchmark Drive and Diplomat Drive. One, single accessible by Benchmark Drive and Diplomat County, Texas. It is accessible from Firman story, concrete tilt-up, multi-tenant flex Drive. One, single story, concrete tilt-up, single Drive and Collins Boulevard. One, single story, building. Roof system is built-up tar. tenant flex building. Roof system is built-up tar. concrete tilt-up, multi-tenant flex building. Roof system is membrane/EPDM.

Details Details Details Building Type Business Park Building Type Business Park Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning LI –1 Light Industrial Zoning LI –1 Light Industrial Zoning IM (1) SPL Year Built 1984 Year Built 1997 Year Built 1985 Site Area (acres) 4.4 Site Area (acres) 2.6 Site Area (acres) 4.5 Lettable area (’000sf) 82.8 Lettable area (’000sf) 53.4 Lettable area (’000sf) 56.5 Site Coverage (%) 43 Site Coverage (%) 46 Site Coverage (%) 29 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Number of Suites 2 Number of Suites 1 Number of Suites 4 Average Suite Size (’000sf) 41.4 Average Suite Size (’000sf) 53.4 Average Suite Size (’000sf) 14.1 Office Content (%) 23 Office Content (%) 57 Office Content (%) 31 Parking Space Ratio (sf) 1.90 per 1,000 sf Parking Space Ratio (sf) 2.7 per 1,000 sf Parking Space Ratio (sf) 4.34 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 4.3 Acquisition Price plus Additions (US$’m) 3.4 Acquisition Price plus Additions (US$’m) 3.6 Book Value (US$’m) 4.6 Book Value (US$’m) 3.6 Book Value (US$’m) 3.7 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 4.3 Independent Valuation (US$’m) 3.6 Independent Valuation (US$’m) 3.7 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 2.73 Average Passing Rent (US$/sf) 0.00 Average Passing Rent (US$/sf) 6.32 Average Market Rent (US$/sf) 2.73 Average Market Rent (US$/sf) 0.00 Average Market Rent (US$/sf) 6.32 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant McDonald Technologies International Major Tenant Natural Health Trends, Corp. Major Tenant Air System Components Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 6.4 Weighted Lease Term by Income (years) 0.0 Weighted Lease Term by Income (years) 5.8 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 62 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 25 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 58 Year 2012 (%) 0 Year 2012 (%) 100 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 18 Year 2015 (%) 38 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 83 industrial portfolio – united states (continued)

3601 East Plano/1000 East Plano/2700 Summit, Dallas Hillguard, Dallas Shiloh Road, Dallas

North of I–90 and east of North Central North of I–90 and east of North Central The properties are located east of I–635 Expressway. The properties are accessible from Expressway. The properties are accessible from between Forest Lane and Miller Road. Three, East Plano Parkway. Two, one story, concrete East Plano Parkway. Four, one story, concrete single story, concrete tilt-up, multi-tenant tilt-up, multi-tenant warehouse/flex buildings. tilt-up, multi-tenant warehouse/flex buildings. warehouse/flex buildings. Roof systems are Roof systems are membrane/EPDM. Roof systems are built-up tar. membrane/EPDM.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning RT – Research Technology Zoning RT – Research Technology Zoning IR – Industrial Research District Year Built 1998 Year Built 1998 to 1999 Year Built 1980 Site Area (acres) 19.6 Site Area (acres) 21.2 Site Area (acres) 12.6 Lettable area (’000sf) 286.9 Lettable area (’000sf) 306.6 Lettable area (’000sf) 247.9 Site Coverage (%) 34 Site Coverage (%) 33 Site Coverage (%) 45 Number of Buildings 2 Number of Buildings 4 Number of Buildings 3 Number of Suites 4 Number of Suites 8 Number of Suites 8 Average Suite Size (’000sf) 71.7 Average Suite Size (’000sf) 38.3 Average Suite Size (’000sf) 31.0 Office Content (%) 12 Office Content (%) 9 Office Content (%) 14 Parking Space Ratio (sf) 2.17 per 1,000 sf Parking Space Ratio (sf) 3.04 per 1,000 sf Parking Space Ratio (sf) 1.22 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 12.8 Acquisition Price plus Additions (US$’m) 20.3 Acquisition Price plus Additions (US$’m) 8.3 Book Value (US$’m) 14.9 Book Value (US$’m) 21.1 Book Value (US$’m) 9.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 13.9 Independent Valuation (US$’m) 21.1 Independent Valuation (US$’m) 8.7 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.25 Average Passing Rent (US$/sf) 2.85 Average Passing Rent (US$/sf) 6.68 Average Passing Rent (US$/sf) 3.47 Average Market Rent (US$/sf) 2.85 Average Market Rent (US$/sf) 6.68 Average Market Rent (US$/sf) 3.47 Discount Rate (%) 9.25 Discount Rate (%) 9.25 Discount Rate (%) 9.00 Major Tenant Tekelec Major Tenant XO Communications Major Tenant MBT International Occupancy (%) 68 Occupancy (%) 96 Occupancy (%) 79 Weighted Lease Term by Income (years) 6.1 Weighted Lease Term by Income (years) 2.1 Weighted Lease Term by Income (years) 3.9 Available (%) 39 Available (%) 4 Available (%) 30 Year 2007 (%) 17 Year 2007 (%) 37 Year 2007 (%) 8 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 9 Year 2009 (%) 0 Year 2009 (%) 37 Year 2009 (%) 36 Year 2010 (%) 0 Year 2010 (%) 5 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 4 Year 2011 (%) 17 Year 2012 (%) 11 Year 2012 (%) 13 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 33 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 84

North Lake, Dallas 11011 Regency Crest Drive CTC at Valwood, Dallas Dallas

Located just north of Beltline Road in the city of The property is located east of I–635 in the This building is located in the north west region Coppell, Dallas County, Texas. It is accessible city of Dallas, Dallas County, Texas. It is of Dallas County on the south west corner of the from Beltline Road and North Lake Drive. accessible from Sanden Drive and Regency intersection of Hutton Drive and Hutton Court One, single story, concrete tilt-up, multi-tenant Crest Drive. One, single story, concrete tilt-up, between Route 175 and Route 32. Concrete tilt warehouse/distribution building. Roof system is multi-tenant warehouse building. Roof system wall panels with glass storefront, multi-tenant, built-up tar. is built-up tar. flex building. Roof system is membrane/EPDM.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning LI 1 – Light Industrial Zoning IR – Industrial Research Zoning LI 1 – Light Industrial Year Built 1982 Year Built 1999 Year Built 2001 Site Area (acres) 11.5 Site Area (acres) 8.8 Site Area (acres) 3.2 Lettable area (’000sf) 230.4 Lettable area (’000sf) 176.6 Lettable area (’000sf) 46.7 Site Coverage (%) 46 Site Coverage (%) 46 Site Coverage (%) 34 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Number of Suites 4 Number of Suites 4 Number of Suites 3 Average Suite Size (’000sf) 57.6 Average Suite Size (’000sf) 44.2 Average Suite Size (’000sf) 15.6 Office Content (%) 19 Office Content (%) 5 Office Content (%) 50–70 Parking Space Ratio (sf) 0.92 per 1,000 sf Parking Space Ratio (sf) 1.62 per 1,000 sf Parking Space Ratio (sf) 4.0 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 9.5 Acquisition Price plus Additions (US$’m) 6.6 Acquisition Price plus Additions (US$’m) 3.4 Book Value (US$’m) 12.9 Book Value (US$’m) 6.7 Book Value (US$’m) 4.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 12.9 Independent Valuation (US$’m) 5.8 Independent Valuation (US$’m) 4.5 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 3.90 Average Passing Rent (US$/sf) 3.07 Average Passing Rent (US$/sf) 6.47 Average Market Rent (US$/sf) 3.90 Average Market Rent (US$/sf) 3.07 Average Market Rent (US$/sf) 6.47 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant Michaels Stores, Inc. Major Tenant Magneto Power, LLC Major Tenant Lanvera Limited Occupancy (%) 100 Occupancy (%) 43 Occupancy (%) 100 Weighted Lease Term by Income (years) 9.9 Weighted Lease Term by Income (years) 2.4 Weighted Lease Term by Income (years) 4.2 Available (%) 0 Available (%) 57 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 26 Year 2008 (%) 40 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 17 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 60 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 100 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 85 industrial portfolio – united states (continued)

Brackbill, Harrisburg 181 Fulling Mill Road, Harrisburg Mechanicsburg, Harrisburg

Located in Cumberland County approximately The property is located off I–283 (north of I–76) Located in Cumberland County approximately 15 minutes west of Harrisburg off Silver Springs at North Union Street and Fulling Mill Road in 15 minutes west of Harrisburg. 201 Cumberland Road between Routes 641 and 11 (north of Dauphin County near Harrisburg. One story, is located just off Route 15 and Winding Hill I–76). Two, one story, masonry and metal, single masonry and metal, multi-tenant, warehouse Road (one exit south of I–76). 5045 Ritter Road tenant, warehouse buildings. Roof systems are building. Roof system is metal. is located off Route 15 and Rossmoyne Road membrane/EPDM and built-up tar. (one exit north of I–76). Two, one story, masonry and concrete tilt-up, single tenant, warehouse buildings. Roof systems are membrane/EPDM.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning Industrial Zone Zoning Industrial Zone Zoning Industrial Zone Year Built 1984 to 1986 Year Built 1999 Year Built 1986 to 1992 Site Area (acres) 28.5 Site Area (acres) 10.6 Site Area (acres) 27.6 Lettable area (’000sf) 494.4 Lettable area (’000sf) 186.0 Lettable area (’000sf) 377.8 Site Coverage (%) 40 Site Coverage (%) 40 Site Coverage (%) 31 Number of Buildings 2 Number of Buildings 1 Number of Buildings 2 Number of Suites 2 Number of Suites 3 Number of Suites 2 Average Suite Size (’000sf) 247.2 Average Suite Size (’000sf) 62.0 Average Suite Size (’000sf) 188.9 Office Content (%) 2 Office Content (%) 3 Office Content (%) 5 Parking Space Ratio (sf) 0.37 per 1,000 sf Parking Space Ratio (sf) 61 per 1,000 sf Parking Space Ratio (sf) 0.73 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 21.0 Acquisition Price plus Additions (US$’m) 8.7 Acquisition Price plus Additions (US$’m) 17.5 Book Value (US$’m) 25.0 Book Value (US$’m) 9.0 Book Value (US$’m) 19.1 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 25.0 Independent Valuation (US$’m) 9.0 Independent Valuation (US$’m) 19.1 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 4.21 Average Passing Rent (US$/sf) 2.73 Average Passing Rent (US$/sf) 3.77 Average Market Rent (US$/sf) 4.21 Average Market Rent (US$/sf) 2.73 Average Market Rent (US$/sf) 3.77 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant Exel, Inc. Major Tenant Ors Nasco Major Tenant Square D. Company Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 1.4 Weighted Lease Term by Income (years) 6.2 Weighted Lease Term by Income (years) 8.2 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 100 Year 2008 (%) 31 Year 2008 (%) 10 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 35 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 34 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 90

DB RREEF Trust Property Synopsis 2006 86

14555 Alondra/6530 Altura Glendale, Los Angeles 14489 Industry Circle Los Angeles Los Angeles

Adjacent to Interstate 5 at the Los Angeles Regional access is provided via Interstate 5 at Adjacent to Interstate 5 at the Los Angeles County/Orange County in the city of La Mirada Glendale Boulevard or the Glendale (2) Freeway County/Orange County in the city of La Mirada. and Buena Park. Access to Interstate 5 at at San Fernando Road. The property is located Access to Interstate 5 at Valley View or Knott Valley View or Knott Avenue are within one mile between Glendale Boulevard and Fletcher Drive. Avenue are within one mile of the building. Seven, of both buildings. Two, concrete tilt-up, single Seven, concrete tilt-up, multi-tenant, concrete tilt-up, multi-tenant, warehouse tenant, warehouse buildings. Roof systems warehouse buildings. Roof systems are buildings. Roof systems are built-up tar. are built-up tar. built-up tar.

Details Details Details Building Type Distribution Centre Building Type Industrial Estate Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning Industrial Zoning LA MZ–1 Zoning Industrial Year Built 1967 to 1969 Year Built 1966 to 1994 Year Built 1967 to 1973 Site Area (acres) 15.6 Site Area (acres) 20.7 Site Area (acres) 5.2 Lettable area (’000sf) 304.4 Lettable area (’000sf) 451.0 Lettable area (’000sf) 112.9 Site Coverage (%) 45 Site Coverage (%) 50 Site Coverage (%) 50 Number of Buildings 2 Number of Buildings 7 Number of Buildings 1 Number of Suites 2 Number of Suites 24 Number of Suites 1 Average Suite Size (’000sf) 152.2 Average Suite Size (’000sf) 18.8 Average Suite Size (’000sf) 112.9 Office Content (%) 9 Office Content (%) 13 Office Content (%) 12 Parking Space Ratio (sf) 1.06 per 1,000 sf Parking Space Ratio (sf) 2.0 per 1,000 sf Parking Space Ratio (sf) 1.04 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 17.3 Acquisition Price plus Additions (US$’m) 49.5 Acquisition Price plus Additions (US$’m) 6.8 Book Value (US$’m) 23.3 Book Value (US$’m) 64.5 Book Value (US$’m) 9.7 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 23.3 Independent Valuation (US$’m) 62.5 Independent Valuation (US$’m) 9.7 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 7.00 Average Passing Rent (US$/sf) 5.43 Average Passing Rent (US$/sf) 8.81 Average Passing Rent (US$/sf) 5.79 Average Market Rent (US$/sf) 5.43 Average Market Rent (US$/sf) 8.81 Average Market Rent (US$/sf) 5.79 Discount Rate (%) 7.75 Discount Rate (%) 7.25 Discount Rate (%) 7.75 Major Tenant Kittrich Corporation Major Tenant Staples Contract & Commercial Major Tenant Damac Products, Inc. Occupancy (%) 100 Occupancy (%) 78 Occupancy (%) 100 Weighted Lease Term by Income (years) 1.9 Weighted Lease Term by Income (years) 3.1 Weighted Lease Term by Income (years) 1.5 Available (%) 0 Available (%) 18 Available (%) 0 Year 2007 (%) 29 Year 2007 (%) 31 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 7 Year 2008 (%) 100 Year 2009 (%) 71 Year 2009 (%) 13 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 3 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 14 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 9 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 6 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 87 industrial portfolio – united states (continued)

Artist’s impression San Fernando Valley, Los Angeles Memphis Industrial, Memphis Turnpike Distribution Center Miami

The property is located north of the intersection Due north of the intersection of I–240 and 78 268,100 sf distribution centre under of the Golden State (5) Freeway and the (Lamer Avenue) on Pilot Drive. One story, brick construction, located in the Medley submarket Hollywood (170) Freeway on San Fernando and steel, single tenant, warehouse building. eight miles north west of Miami International Road at Sheldon Street. One, concrete tilt-up, Roof system is metal. airport, with immediate access to the Florida multi-tenant, warehouse/flex building. Roof Turnpike. The building will have a +/- 30 foot system is membrane/EPDM. clear height ceiling, four loading doors per bay, a 60 foot deep interior staging area, tilt wall construction with a metal bar joist/steel roof deck

and be ESFR fire sprinklered.

Details Details Details Building Type Industrial Estate Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M1 – 1 Zoning I L – Light Industrial Zoning M-1, Medley Industrial Year Built 1980 Year Built 1987 Year Built 2006 Site Area (acres) 8.4 Site Area (acres) 16.0 Site Area (acres) 17.7 Lettable area (’000sf) 181.6 Lettable area (’000sf) 336.1 Lettable area (’000sf) 268.1 Site Coverage (%) 50 Site Coverage (%) 48 Site Coverage (%) 35 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Number of Suites 2 Number of Suites 1 Number of Suites 1 Average Suite Size (’000sf) 90.8 Average Suite Size (’000sf) 336.1 Average Suite Size (’000sf) 268.1 Office Content (%) 8 Office Content (%) 1 Office Content (%) 10 Parking Space Ratio (sf) 1.6 per 1,000 Parking Space Ratio (sf) 1.02 per 1,000 sf Parking Space Ratio (sf) 1.25 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2005 Acquisition Price plus Additions (US$’m) 14.5 Acquisition Price plus Additions (US$’m) 9.2 Acquisition Price plus Additions (US$’m) 11.0 Book Value (US$’m) 19.5 Book Value (US$’m) 9.6 Book Value (US$’m) 12.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date n/a Independent Valuation (US$’m) 19.5 Independent Valuation (US$’m) 9.6 Independent Valuation (US$’m) 0 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 9.25 Capitalisation Rate (%) 0 Average Passing Rent (US$/sf) 6.82 Average Passing Rent (US$/sf) 3.10 Average Passing Rent (US$/sf) n/a Average Market Rent (US$/sf) 6.82 Average Market Rent (US$/sf) 3.10 Average Market Rent (US$/sf) n/a Discount Rate (%) 7.75 Discount Rate (%) 10.25 Discount Rate (%) 0 Major Tenant Fedex Ground Package System Major Tenant Reebok International Limited Major Tenant n/a Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 61 Weighted Lease Term by Income (years) 2.5 Weighted Lease Term by Income (years) 1.8 Weighted Lease Term by Income (years) 0 Available (%) 0 Available (%) 0 Available (%) 39 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 15 Year 2008 (%) 100 Year 2008 (%) 0 Year 2009 (%) 85 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 88

Braemer Ridge, Minneapolis Brooklyn Park Interstate Centre Eagandale Business Campus Minneapolis Minneapolis

The property is located in the south west The property is located in the north west The property is located in the south central submarket, on the north side of Interstate submarket, on Interstate 694 with access from submarket, just south of Interstate 494 and 494 Frontage Road between Highway 169 the intersection of Interstate 694 and County Pilot Knob Road. The Minneapolis International and Highway 100. One story, concrete block Road 81. One story, concrete block with steel Airport is located within five miles of the construction with steel columns and brick frame construction, multi-tenant warehouse property. Four, one story, concrete block with veneer and decorative metal canopies, building. Roof system is three-ply built-up brick fascia, multi-tenant flex buildings. Roof multi-tenant flex building. Roof system is asphalt, bituminous membrane over rigid system is three-ply built-up asphalt, bituminous three-ply built-up asphalt, bituminous insulation. membrane over rigid insulation. membrane over rigid insulation.

Details Details Details Building Type Business Park Building Type Distribution Centre Building Type Business Park Ownership (%) 100 Ownership (%) 100 Ownership (%) 100 Zoning FD-2, Freeway Development and FD-2 Zoning I-1, Limited Industrial District Zoning I-1, Limited Industrial District and (FH), Freeway Development Flood Hazard Year Built 1997 located in MSP Noise Exposure Zone 3 Year Built 1983 Site Area (acres) 6.0 Year Built 1986 Site Area (acres) 6.0 Lettable Area (‘000sf) 91.7 Site Area (acres) 20.3 Lettable Area (‘000sf) 74.1 Site Coverage (%) 35 Lettable Area (‘000sf) 240.1 Site Coverage (%) 28 Number of Buildings 1 Site Coverage (%) 27 Number of Buildings 1 Number of Suites 3 Number of Buildings 4 Number of Suites 10 Average Suite Size (‘000sf) 30.6 Number of Suites 36 Average Suite Size (‘000sf) 7.4 Office Content (%) 7 Average Suite Size (‘000sf) 6.7 Office Content (%) 48 Parking Space Ratio (sf) 1.59 per 1,000 sf Office Content (%) 71 Parking Space Ratio (sf) 2.81 per 1,000 sf Acquisition Date Nov 2005 Parking Space Ratio (sf) 4.07 per 1,000 sf Acquisition Date Nov 2005 Acquisition Price plus Additions (US$’m) 5.5 Acquisition Date Nov 2005 Acquisition Price plus Additions (US$’m) 4.7 Book Value (US$’m) 5.2 Acquisition Price plus Additions (US$’m) 15.9 Book Value (US$’m) 6.3 Independent Valuation Date Nov 2005 Book Value (US$’m) 15.6 Independent Valuation Date Nov 2005 Independent Valuation (US$’m) 5.3 Independent Valuation Date Nov 2005 Independent Valuation (US$’m) 6.3 Capitalisation Rate (%) 8.75 Independent Valuation (US$’m) 15.1 Capitalisation Rate (%) 8.75 Average Passing Rent (US$/sf) 3.86 Capitalisation Rate (%) 8.75 Average Passing Rent (US$/sf) 7.01 Average Market Rent (US$/sf) 3.86 Average Passing Rent (US$/sf) 6.31 Average Market Rent (US$/sf) 7.01 Discount Rate (%) 9.50 Average Market Rent (US$/sf) 6.31 Discount Rate (%) 9.50 Major Tenant Huttig Building Products, Inc. Discount Rate (%) 9.50 Major Tenant Medacquisition, Inc. Occupancy (%) 100 Major Tenant Micromedics, Inc. Occupancy (%) 100 Weighted Lease Term by Income (years) 3.0 Occupancy (%) 78 Weighted Lease Term by Income (years) 2.1 Available (%) 0 Weighted Lease Term by Income (years) 3.3 Available (%) 0 Year 2007 (%) 32 Available (%) 22 Year 2007 (%) 20 Year 2008 (%) 0 Year 2007 (%) 12 Year 2008 (%) 18 Year 2009 (%) 0 Year 2008 (%) 15 Year 2009 (%) 40 Year 2010 (%) 0 Year 2009 (%) 25 Year 2010 (%) 22 Year 2011 (%) 68 Year 2010 (%) 5 Year 2011 (%) 0 Year 2012 (%) 0 Year 2011 (%) 13 Year 2012 (%) 0 Year 2013 (%) 0 Year 2012 (%) 9 Year 2013 (%) 0 Year 2014 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 89 industrial portfolio – united states (continued)

Oak Park Business Center 7401 Cahill Road, Minneapolis 2950 Lexington Avenue South Minneapolis Minneapolis

The property is located in the south west Cahill Road is located off Highway 169, Located off the Loan Oak Road exit 35E, just south submarket, just west of the intersection just south of the Highway 169 and I–694 of the I–35 E/I–494 interchange. I–494 connects between 169 and Valley View Road, with interchange. I–694 serves as a beltway for the with I–694 serving as a beltway access to Highway 212, Highway 5, and twin cities. One story, masonry, multi-tenant, for the twin cities. One story, concrete tilt-up, Interstate 494. One story, concrete slab with warehouse building. Roof system is built-up tar. multi-tenant, warehouse building. Roof system steel frame construction and brick veneer, is built-up tar. multi-tenant building. Roof system is three-ply built-up asphalt, bituminous membrane over rigid insulation.

Details Details Details Building Type Business Park Building Type Industrial Estate Building Type Distribution Centre Ownership (%) 100 Ownership (%) 80 Ownership (%) 80 Zoning I-2, Light Industrial District Co-Owner CalWest Co-Owner CalWest Year Built 1983 Zoning PID – Planned Industrial District Zoning I 1 – Limited Industrial Site Area (acres) 3.1 Year Built 1979 Year Built 1979 Lettable Area (‘000sf) 40.1 Site Area (acres) 3.2 Site Area (acres) 12.6 Site Coverage (%) 30 Lettable area (’000sf) 45.8 Lettable area (’000sf) 184.4 Number of Buildings 1 Site Coverage (%) 32 Site Coverage (%) 34 Number of Suites 9 Number of Buildings 1 Number of Buildings 1 Average Suite Size (‘000sf) 4.5 Number of Suites 2 Number of Suites 5 Office Content (%) 57 Average Suite Size (’000sf) 22.9 Average Suite Size (’000sf) 36.9 Parking Space Ratio (sf) 2.52 per 1,000 sf Office Content (%) 22 Office Content (%) 12 Acquisition Date Nov 2005 Parking Space Ratio (sf) 1.64 per 1,000 sf Parking Space Ratio (sf) 1.5 per 1,000 sf Acquisition Price plus Additions (US$’m) 2.5 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Book Value (US$’m) 2.5 Acquisition Price plus Additions (US$’m) 3.2 Acquisition Price plus Additions (US$’m) 8.9 Independent Valuation Date Nov 2005 Book Value (US$’m) 3.0 Book Value (US$’m) 9.9 Independent Valuation (US$’m) 2.7 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Capitalisation Rate (%) 8.75 Independent Valuation (US$’m) 3.0 Independent Valuation (US$’m) 9.2 Average Passing Rent (US$/sf) 6.31 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.25 Average Market Rent (US$/sf) 6.31 Average Passing Rent (US$/sf) 0.00 Average Passing Rent (US$/sf) 4.06 Discount Rate (%) 9.50 Average Market Rent (US$/sf) 0.00 Average Market Rent (US$/sf) 4.06 Major Tenant International Church Discount Rate (%) 9.00 Discount Rate (%) 9.00 Occupancy (%) 69 Major Tenant Professional Reproductions, Inc. Major Tenant Florstar Sales, Inc. Weighted Lease Term by Income (years) 2.3 Occupancy (%) 47 Occupancy (%) 67 Available (%) 34 Weighted Lease Term by Income (years) 7.2 Weighted Lease Term by Income (years) 4.3 Year 2007 (%) 5 Available (%) 53 Available (%) 32 Year 2008 (%) 25 Year 2007 (%) 0 Year 2007 (%) 0 Year 2009 (%) 16 Year 2008 (%) 0 Year 2008 (%) 25 Year 2010 (%) 21 Year 2009 (%) 0 Year 2009 (%) 0 Year 2011 (%) 0 Year 2010 (%) 0 Year 2010 (%) 0 Year 2012 (%) 0 Year 2011 (%) 0 Year 2011 (%) 17 Year 2013 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2014 (%) 0 Year 2013 (%) 0 Year 2013 (%) 26 Year 2015 (%) 0 Year 2014 (%) 47 Year 2014 (%) 0 Year 2016+ (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 90

8575 Monticello Lane Mounds View, Minneapolis 6105 Trenton Lane, Minneapolis Minneapolis

Monticello Lane is located off Highway 169, just Located off Highway 10 and 35E, just north of Trenton Lane is located off Highway 169, north of the Highway 169 and I–694 interchange. I– the I–35/I–694 interchange. I–694 serves as just south of the Highway 169 and I–694 694 serves as a beltway for the twin cities. a beltway for the twin cities. Four, one story, interchange. I–694 serves as a beltway for the twin One story, masonry, single tenant, warehouse masonry, multi-tenant, warehouse buildings. cities. One story, pre-cast concrete tilt-up, single building. Roof system is membrane/EPDM. Roof systems are membrane/EPDM. tenant, warehouse building. Roof system is built-up tar.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I – Industrial, City of Maple Grove Zoning PUD, City of Mounds View Zoning I–2 Industrial, City of Plymouth Year Built 1986 Year Built 1989 to 1992 Year Built 1994 Site Area (acres) 3.0 Site Area (acres) 22.7 Site Area (acres) 11.8 Lettable area (’000sf) 40.4 Lettable area (’000sf) 321.1 Lettable area (’000sf) 122.0 Site Coverage (%) 31 Site Coverage (%) 32 Site Coverage (%) 24 Number of Buildings 1 Number of Buildings 4 Number of Buildings 1 Number of Suites 1 Number of Suites 9 Number of Suites 1 Average Suite Size (’000sf) 40.4 Average Suite Size (’000sf) 35.7 Average Suite Size (’000sf) 122.0 Office Content (%) 5 Office Content (%) 20 Office Content (%) 41 Parking Space Ratio (sf) 1.36 per 1,000 sf Parking Space Ratio (sf) 2.2 per 1,000 sf Parking Space Ratio (sf) 3.34 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 1.7 Acquisition Price plus Additions (US$’m) 19.3 Acquisition Price plus Additions (US$’m) 7.4 Book Value (US$’m) 2.3 Book Value (US$’m) 21.7 Book Value (US$’m) 8.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 2.3 Independent Valuation (US$’m) 21.4 Independent Valuation (US$’m) 8.0 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.25 Capitalisation Rate (%) 8.25 Average Passing Rent (US$/sf) 4.50 Average Passing Rent (US$/sf) 5.96 Average Passing Rent (US$/sf) 4.85 Average Market Rent (US$/sf) 4.50 Average Market Rent (US$/sf) 5.96 Average Market Rent (US$/sf) 4.85 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Major Tenant Palco Marketing Major Tenant Quanex Corporation Major Tenant Select Direct Corporation Occupancy (%) 100 Occupancy (%) 94 Occupancy (%) 100 Weighted Lease Term by Income (years) 4.5 Weighted Lease Term by Income (years) 3.9 Weighted Lease Term by Income (years) 2.9 Available (%) 0 Available (%) 9 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 34 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 100 Year 2010 (%) 0 Year 2010 (%) 19 Year 2010 (%) 0 Year 2011 (%) 100 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 25 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 13 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 91 industrial portfolio – united states (continued)

Alexandria, Northern Virginia/ Beaumeade Telecom, Northern Calvert/Murry’s, Northern Washington DC Virginia/Washington DC Virginia/Washington DC

Located in the I–395 Corridor submarket at the The Beaumeade Circle buildings are located on Located in the I–395 Corridor submarket at the rear of Oakville Industrial Park along Route 1, Beaumeade Circle in the Beaumeade Corporate rear of Oakville Industrial Park along Route 1, approximately three miles south of Washington Park located just off Waxpool Road in Ashburn, approximately three miles south of Washington DC and one mile south of Ronald Reagan VA approximately six miles north of the Dulles DC and one mile south of Ronald Reagan Airport. Five industrial, masonry and metal, International Airport and approximately Airport. Three, masonry and metal, multi-tenant, multi-tenant, warehouse buildings. Roof systems 30 miles west of Washington DC. Two, one warehouse buildings. Roof systems are are built-up tar. story, concrete tilt-up, single tenant, flex built-up tar. buildings. Roof systems are membrane/EPDM.

Details Details Details Building Type Industrial Estate Building Type Business Park Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I – Industrial Zoning PD – IP, Loudon County Zoning I – Industrial Year Built 1946 to 1989 Year Built 2000 Year Built 1940 to 1961 Site Area (acres) 11.2 Site Area (acres) 14.1 Site Area (acres) 6.1 Lettable area (’000sf) 388.5 Lettable area (’000sf) 164.5 Lettable area (’000sf) 82.6 Site Coverage (%) 80 Site Coverage (%) 27 Site Coverage (%) 31 Number of Buildings 5 Number of Buildings 2 Number of Buildings 3 Number of Suites 21 Number of Suites 2 Number of Suites 10 Average Suite Size (’000sf) 18.5 Average Suite Size (’000sf) 82.2 Average Suite Size (’000sf) 8.3 Office Content (%) 2 Office Content (%) 80 Office Content (%) 15 Parking Space Ratio (sf) 0.37 per 1,000 sf Parking Space Ratio (sf) 3.2 per 1,000 sf Parking Space Ratio (sf) 0.95 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 44.5 Acquisition Price plus Additions (US$’m) 31.8 Acquisition Price plus Additions (US$’m) 5.2 Book Value (US$’m) 55.1 Book Value (US$’m) 41.0 Book Value (US$’m) 5.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 54.1 Independent Valuation (US$’m) 41.0 Independent Valuation (US$’m) 5.5 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 8.00 Average Passing Rent (US$/sf) 6.04 Average Passing Rent (US$/sf) 14.49 Average Passing Rent (US$/sf) 6.77 Average Market Rent (US$/sf) 6.04 Average Market Rent (US$/sf) 14.49 Average Market Rent (US$/sf) 6.77 Discount Rate (%) 9.00 Discount Rate (%) 7.00 Discount Rate (%) 9.00 Major Tenant Chesapeake Resource DBA Vault Major Tenant AT&T Corporation Major Tenant Alexandria Volkswagon Occupancy (%) 91 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 4.4 Weighted Lease Term by Income (years) 9.5 Weighted Lease Term by Income (years) 3.4 Available (%) 15 Available (%) 0 Available (%) 0 Year 2007 (%) 6 Year 2007 (%) 0 Year 2007 (%) 12 Year 2008 (%) 20 Year 2008 (%) 0 Year 2008 (%) 3 Year 2009 (%) 4 Year 2009 (%) 0 Year 2009 (%) 51 Year 2010 (%) 4 Year 2010 (%) 0 Year 2010 (%) 10 Year 2011 (%) 19 Year 2011 (%) 0 Year 2011 (%) 14 Year 2012 (%) 4 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 8 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 4 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 15 Year 2015 (%) 0 Year 2015 (%) 8 Year 2016+ (%) 0 Year 2016+ (%) 100 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 92

CTC at Dulles, Northern Guilford, Northern Virginia/ Nokes Boulevard, Northern Virginia/ Washington DC Washington DC Virginia/ Washington DC

The property is located just east of the The buildings are located on Beaumeade Circle The Nokes Boulevard buildings are in the Washington–Dulles International Airport. in the Beaumeade Corporate Park located just off eastern portion of Loudon County, VA in the city It is proximate to Sully Road at the intersection Waxpool Road in Ashburn, VA approximately six of Sterling. The property is situated in Loudon of Mclearen Road and EDS Drive. One story, miles north of the Dulles International Airport Techcenter, a 280 acre park along Route 7 and concrete tilt-up, single tenant, office building. and approximately 30 miles west of Washington Route 28. Nokes Boulevard extends to Route Roof system is membrane/EPDM. DC. The property is readily accessible from State 28 with easy access to the Dulles Toll Road and Road 28 via public road ways. Three, one story, Dulles Airport. Two, one story, concrete tilt-up, masonry and metal, multi-tenant, flex buildings. multi-tenant, flex buildings. Roof systems are Roof systems are membrane/EPDM. membrane/EPDM.

Details Details Details Building Type Business Park Building Type Business Park Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning n/a Zoning PD – IP, Loudon County Zoning PD – IP, Loudon County Year Built 2001 Year Built 1987 to 1990 Year Built 1998 to 1999 Site Area (acres) 10.8 Site Area (acres) 13.7 Site Area (acres) 12.3 Lettable area (’000sf) 103.5 Lettable area (’000sf) 177.3 Lettable area (’000sf) 167.2 Site Coverage (%) 22 Site Coverage (%) 30 Site Coverage (%) 31 Number of Buildings 1 Number of Buildings 3 Number of Buildings 2 Number of Suites 1 Number of Suites 15 Number of Suites 2 Average Suite Size (’000sf) 103.5 Average Suite Size (’000sf) 11.8 Average Suite Size (’000sf) 83.6 Office Content (%) 100 Office Content (%) 31 Office Content (%) 45 Parking Space Ratio (sf) 4.23 per 1,000 sf Parking Space Ratio (sf) 1.83 per 1,000 sf Parking Space Ratio (sf) 3.12 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 24.5 Acquisition Price plus Additions (US$’m) 16.9 Acquisition Price plus Additions (US$’m) 20.1 Book Value (US$’m) 30.0 Book Value (US$’m) 25.0 Book Value (US$’m) 29.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 30.0 Independent Valuation (US$’m) 25.0 Independent Valuation (US$’m) 29.0 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 7.00 Average Passing Rent (US$/sf) 20.63 Average Passing Rent (US$/sf) 8.92 Average Passing Rent (US$/sf) 9.96 Average Market Rent (US$/sf) 20.63 Average Market Rent (US$/sf) 8.92 Average Market Rent (US$/sf) 9.96 Discount Rate (%) 7.25 Discount Rate (%) 7.00 Discount Rate (%) 7.50 Major Tenant US Government (TSA) Major Tenant Old Dominion Brewing Co. Major Tenant Exodus Communications, Inc. Occupancy (%) 100 Occupancy (%) 95 Occupancy (%) 100 Weighted Lease Term by Income (years) 7.4 Weighted Lease Term by Income (years) 2.8 Weighted Lease Term by Income (years) 2.8 Available (%) 0 Available (%) 5 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 16 Year 2007 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 46 Year 2009 (%) 54 Year 2010 (%) 0 Year 2010 (%) 4 Year 2010 (%) 46 Year 2011 (%) 0 Year 2011 (%) 28 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 100 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 93 industrial portfolio – united states (continued)

7500 Exchange Drive, Orlando Orlando Central Park, Orlando 844 44th Avenue, Phoenix

The property is located in Orlando Central Park in The properties are located in Orlando Central The property is located one mile south of I–10 Southwest Orlando. Access is provided by Park in Southwest Orlando and are accessible off 43rd Avenue, south of Roosevelt. One I–4 to the west (two miles), the Beeline by I–4, the Beeline Expressway and Florida’s story, concrete tilt-up, multi-tenant, warehouse Expressway to the south (two miles) and Turnpike. Seven, concrete tilt-up, multi-tenant, building. Roof system is built-up tar. Florida’s Turnpike to the east (one mile). One, warehouse/flex buildings. Roof systems are concrete tilt-up, multi-tenant, warehouse/flex membrane/EPDM and built-up tar. building. Roof system is membrane/EPDM.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I–3 by Orange County Zoning I–3 by Orange County Zoning I2 Planning and Zoning Planning and Zoning Year Built 1987 Year Built 1979 Year Built 1984 to 1992 Site Area (acres) 7.8 Site Area (acres) 6.6 Site Area (acres) 60.3 Lettable area (’000sf) 144.6 Lettable area (’000sf) 115.7 Lettable area (’000sf) 1,274.8 Site Coverage (%) 42 Site Coverage (%) 40 Site Coverage (%) 49 Number of Buildings 1 Number of Buildings 1 Number of Buildings 7 Number of Suites 2 Number of Suites 6 Number of Suites 3 Average Suite Size (’000sf) 72.3 Average Suite Size (’000sf) 19.3 Average Suite Size (’000sf) 424.9 Office Content (%) 5 Office Content (%) 8 Office Content (%) 9 Parking Space Ratio (sf) 0.93 per 1,000 sf Parking Space Ratio (sf) 0.84 per 1,000 sf Parking Space Ratio (sf) 1.0 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 5.9 Acquisition Price plus Additions (US$’m) 5.4 Acquisition Price plus Additions (US$’m) 57.0 Book Value (US$’m) 8.1 Book Value (US$’m) 6.3 Book Value (US$’m) 68.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 8.1 Independent Valuation (US$’m) 6.3 Independent Valuation (US$’m) 68.0 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 7.50 Average Passing Rent (US$/sf) 3.86 Average Passing Rent (US$/sf) 3.99 Average Passing Rent (US$/sf) 3.71 Average Market Rent (US$/sf) 3.86 Average Market Rent (US$/sf) 3.99 Average Market Rent (US$/sf) 3.71 Discount Rate (%) 8.25 Discount Rate (%) 9.00 Discount Rate (%) 8.50 Major Tenant Pierce Leahy Corporation Major Tenant Kaycan Limited Major Tenant Universal City Florida Partners Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 94 Weighted Lease Term by Income (years) 5.3 Weighted Lease Term by Income (years) 3.1 Weighted Lease Term by Income (years) 2.9 Available (%) 0 Available (%) 0 Available (%) 6 Year 2007 (%) 0 Year 2007 (%) 14 Year 2007 (%) 17 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 20 Year 2009 (%) 44 Year 2009 (%) 34 Year 2009 (%) 16 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 13 Year 2011 (%) 0 Year 2011 (%) 52 Year 2011 (%) 12 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 12 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 56 Year 2014 (%) 0 Year 2014 (%) 5 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 94

1858 East Encanto Drive 3802–3922 East University Drive 431 North 47th Avenue Phoenix Phoenix Phoenix

The property is located south west of the The property is located east of I–10 and south The property is located approximately one mile 202 and 101 Freeway interchange between of Sky Harbor Airport on University Drive. Five, south of I–10 at the north west corner of Polk University Drive and Broadway Road. Single, one story, concrete tilt-up, multi-tenant, flex and 47th Avenue. One story, concrete tilt-up, concrete tilt-up, multi-tenant, warehouse buildings. Roof systems are built-up tar. single tenant, warehouse building. Roof system building. Roof system is built-up tar. is built-up tar.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I–2 Zoning A–2 Zoning I –1 Year Built 1990 Year Built 1988 Year Built 1986 Site Area (acres) 4.7 Site Area (acres) 8.5 Site Area (acres) 9.8 Lettable area (’000sf) 81.8 Lettable area (’000sf) 109.7 Lettable area (’000sf) 163.2 Site Coverage (%) 40 Site Coverage (%) 30 Site Coverage (%) 38 Number of Buildings 1 Number of Buildings 5 Number of Buildings 1 Number of Suites 3 Number of Suites 18 Number of Suites 1 Average Suite Size (’000sf) 27.3 Average Suite Size (’000sf) 6.1 Average Suite Size (’000sf) 163.2 Office Content (%) 9 Office Content (%) 72 Office Content (%) 2 Parking Space Ratio (sf) 1.77 per 1,000 sf Parking Space Ratio (sf) 3.24 per 1,000 sf Parking Space Ratio (sf) 0.38 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 4.0 Acquisition Price plus Additions (US$’m) 9.1 Acquisition Price plus Additions (US$’m) 5.8 Book Value (US$’m) 5.4 Book Value (US$’m) 10.2 Book Value (US$’m) 7.7 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 5.4 Independent Valuation (US$’m) 9.9 Independent Valuation (US$’m) 7.7 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.75 Capitalisation Rate (%) 7.50 Average Passing Rent (US$/sf) 4.72 Average Passing Rent (US$/sf) 9.36 Average Passing Rent (US$/sf) 3.48 Average Market Rent (US$/sf) 4.72 Average Market Rent (US$/sf) 9.36 Average Market Rent (US$/sf) 3.48 Discount Rate (%) 8.50 Discount Rate (%) 8.75 Discount Rate (%) 8.75 Major Tenant World Wide Parts & Accessories Major Tenant Air Products & Chemicals, Inc. Major Tenant Freeport Logistics, Inc. Occupancy (%) 100 Occupancy (%) 88 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.6 Weighted Lease Term by Income (years) 1.5 Weighted Lease Term by Income (years) 0.4 Available (%) 0 Available (%) 14 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 57 Year 2007 (%) 100 Year 2008 (%) 26 Year 2008 (%) 10 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2010 (%) 56 Year 2010 (%) 3 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 9 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 6 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 18 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 95 industrial portfolio – united states (continued)

220 South 9th Street 1429–1439 South 40th Avenue 105–107 South 41st Avenue Phoenix Phoenix Phoenix

The property is located north west of the The property is located approximately two and The property is located one mile south of I–10 at I–10 and I–17 interchange. One story, a half miles west of I–17 and south of West West Van Buren Street and South 41st Avenue. concrete tilt-up, multi-tenant, warehouse Buckeye Road. Two, one story, concrete tilt-up, Two, concrete tilt-up, multi-tenant, warehouse building. Roof system is built-up tar. multi-tenant, warehouse buildings. Roof systems buildings. Roof system is built-up tar. are built-up tar.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning A–1 Zoning A–2 Zoning A–2 Year Built 1983 Year Built 1989 to 1990 Year Built 1988 Site Area (acres) 1.9 Site Area (acres) 12.4 Site Area (acres) 3.8 Lettable area (’000sf) 89.4 Lettable area (’000sf) 253.4 Lettable area (’000sf) 385.2 Site Coverage (%) 49 Site Coverage (%) 47 Site Coverage (%) 34 Number of Buildings 1 Number of Buildings 2 Number of Buildings 2 Number of Suites 3 Number of Suites 5 Number of Suites 6 Average Suite Size (’000sf) 29.8 Average Suite Size (’000sf) 50.7 Average Suite Size (’000sf) 64.2 Office Content (%) 7 Office Content (%) 4 Office Content (%) 3 Parking Space Ratio (sf) 2.2 per 1,000 sf Parking Space Ratio (sf) 0.64 per 1,000 sf Parking Space Ratio (sf) 3.22 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 6.3 Acquisition Price plus Additions (US$’m) 8.8 Acquisition Price plus Additions (US$’m) 13.6 Book Value (US$’m) 8.6 Book Value (US$’m) 12.0 Book Value (US$’m) 17.9 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 8.6 Independent Valuation (US$’m) 12.0 Independent Valuation (US$’m) 17.6 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 7.50 Average Passing Rent (US$/sf) 5.78 Average Passing Rent (US$/sf) 3.17 Average Passing Rent (US$/sf) 3.09 Average Market Rent (US$/sf) 5.78 Average Market Rent (US$/sf) 3.17 Average Market Rent (US$/sf) 3.09 Discount Rate (%) 8.50 Discount Rate (%) 8.50 Discount Rate (%) 9.25 Major Tenant Chompies Bada Bing Bakery, Inc. Major Tenant S.P. Richards Company Major Tenant Warren Industries, Inc. Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 91 Weighted Lease Term by Income (years) 4.3 Weighted Lease Term by Income (years) 1.7 Weighted Lease Term by Income (years) 2.2 Available (%) 0 Available (%) 0 Available (%) 10 Year 2007 (%) 0 Year 2007 (%) 21 Year 2007 (%) 21 Year 2008 (%) 33 Year 2008 (%) 47 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 0 Year 2009 (%) 39 Year 2010 (%) 31 Year 2010 (%) 32 Year 2010 (%) 30 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 36 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 96

601 South 55th Avenue, Phoenix 1000 South Priest Drive, Phoenix 1120–1150 West Alameda Drive Phoenix

The property is located south of I–10 and west The property is located east of I–10 The property is located just east of I–10 and of I–17 between West Van Buren and West between University Drive and Broadway Road. I–53 interchange Broadway Road and Southern Buckeye Road. One story, concrete tilt-up, One story, concrete tilt-up, single tenant, Avenue. Four, concrete tilt-up, multi-tenant, flex single tenant, warehouse building. Roof flex building. Roof system is built-up tar. buildings. Roof systems are built-up tar. system is built-up tar.

Details Details Details Building Type Distribution Centre Building Type Business Park Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning A–2 Zoning I–1 Zoning I–2 Year Built 1986 Year Built 1988 Year Built 1984 Site Area (acres) 7.7 Site Area (acres) 3.8 Site Area (acres) 5.9 Lettable area (’000sf) 100.0 Lettable area (’000sf) 54.9 Lettable area (’000sf) 122.4 Site Coverage (%) 30 Site Coverage (%) 33 Site Coverage (%) 48 Number of Buildings 1 Number of Buildings 1 Number of Buildings 4 Number of Suites 1 Number of Suites 1 Number of Suites 12 Average Suite Size (’000sf) 100.0 Average Suite Size (’000sf) 54.9 Average Suite Size (’000sf) 10.2 Office Content (%) 9 Office Content (%) 22 Office Content (%) 16 Parking Space Ratio (sf) 0.5 per 1,000 sf Parking Space Ratio (sf) 3.22 per 1,000 sf Parking Space Ratio (sf) 1.7 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 4.2 Acquisition Price plus Additions (US$’m) 4.7 Acquisition Price plus Additions (US$’m) 7.3 Book Value (US$’m) 5.4 Book Value (US$’m) 6.0 Book Value (US$’m) 8.6 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 5.4 Independent Valuation (US$’m) 6.0 Independent Valuation (US$’m) 8.6 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 8.50 Capitalisation Rate (%) 8.50 Average Passing Rent (US$/sf) 3.78 Average Passing Rent (US$/sf) 8.67 Average Passing Rent (US$/sf) 4.08 Average Market Rent (US$/sf) 3.78 Average Market Rent (US$/sf) 8.67 Average Market Rent (US$/sf) 4.08 Discount Rate (%) 8.50 Discount Rate (%) 8.50 Discount Rate (%) 8.75 Major Tenant US Greenfiber, LLC Major Tenant Dynaco Corporation Major Tenant Arizona Board of Regents Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.9 Weighted Lease Term by Income (years) 1.9 Weighted Lease Term by Income (years) 5.4 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 0 Year 2007 (%) 7 Year 2008 (%) 0 Year 2008 (%) 100 Year 2008 (%) 19 Year 2009 (%) 100 Year 2009 (%) 0 Year 2009 (%) 17 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 9 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 40 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 9 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 97 industrial portfolio – united states (continued)

10397 West Van Buren Street Chino, Riverside 4190 East Santa Ana Street Phoenix Riverside

The property is located at 84th Avenue between The property is located one mile south of the The property is located south west of the Harrison and Jefferson, approximately one Pomona (60) Freeway between Central and I–10 and I–15 interchange just north of quarter of a mile from I–10 loop and Loop Mountain Avenues. One story, concrete tilt-up, Jurupa Street. Single, concrete tilt-up, 101. One story, concrete tilt-up, multi-tenant, multi-tenant, industrial building. Roof system is multi-tenant, warehouse/flex building. warehouse building. Roof system is built-up tar. built-up tar. Roof system is built-up tar.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning I–1 City of Tolleson Zoning M2 – 1 Light Industrial Zoning M2 – 1 Light Industrial Year Built 1997 Year Built 1987 Year Built 1989 Site Area (acres) 14.7 Site Area (acres) 4.8 Site Area (acres) 4.9 Lettable area (’000sf) 278.1 Lettable area (’000sf) 104.6 Lettable area (’000sf) 98.8 Site Coverage (%) 44 Site Coverage (%) 50 Site Coverage (%) 46 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Number of Suites 5 Number of Suites 3 Number of Suites 1 Average Suite Size (’000sf) 55.6 Average Suite Size (’000sf) 34.9 Average Suite Size (’000sf) 98.8 Office Content (%) 0 Office Content (%) 5 Office Content (%) 10 Parking Space Ratio (sf) 0.62 per 1,000 sf Parking Space Ratio (sf) 1.61 per 1,000 sf Parking Space Ratio (sf) 1.2 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 7.0 Acquisition Price plus Additions (US$’m) 5.9 Acquisition Price plus Additions (US$’m) 4.7 Book Value (US$’m) 13.1 Book Value (US$’m) 8.9 Book Value (US$’m) 8.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 13.1 Independent Valuation (US$’m) 8.9 Independent Valuation (US$’m) 8.0 Capitalisation Rate (%) 7.25 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 7.00 Average Passing Rent (US$/sf) 4.08 Average Passing Rent (US$/sf) 5.15 Average Passing Rent (US$/sf) 4.92 Average Market Rent (US$/sf) 4.08 Average Market Rent (US$/sf) 5.15 Average Market Rent (US$/sf) 4.92 Discount Rate (%) 8.25 Discount Rate (%) 8.00 Discount Rate (%) 8.00 Major Tenant States Logistics Services, Inc. Major Tenant Wayne-Dalton Corporation Major Tenant Halsteel, Inc. Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 0.5 Weighted Lease Term by Income (years) 3.2 Weighted Lease Term by Income (years) 0.6 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 100 Year 2007 (%) 0 Year 2007 (%) 100 Year 2008 (%) 0 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 0 Year 2009 (%) 51 Year 2009 (%) 0 Year 2010 (%) 0 Year 2010 (%) 49 Year 2010 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 98

12000 Jersey Court, Riverside Mira Loma, Riverside Ontario, Riverside

The property is located north west of the I–10 The property is located north east of the I–15 The properties are located at the north east end and I–15 interchange off Rochester Avenue and 60 Freeway interchange off Etiwanda. of Ontario, and accessed via the San Bernardino with I–15 visibility. Single, concrete tilt-up, Single, concrete tilt-up, multi-tenant, warehouse (10), Pomona (60), and the Ontario (15) single tenant, warehouse building. Roof building. Roof system is built-up tar. freeways. Five, concrete tilt-up, multi-tenant, system is built-up tar. warehouse/flex buildings. Roof systems are built-up tar.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M2 – 1 Light Industrial Zoning M2 – 1 Light Industrial Zoning M2 – 1 Light Industrial Year Built 1989 Year Built 1992 Year Built 1989 to 1999 Site Area (acres) 4.3 Site Area (acres) 12.3 Site Area (acres) 37.6 Lettable area (’000sf) 88.1 Lettable area (’000sf) 250.6 Lettable area (’000sf) 571.8 Site Coverage (%) 47 Site Coverage (%) 47 Site Coverage (%) 35 Number of Buildings 1 Number of Buildings 1 Number of Buildings 5 Number of Suites 1 Number of Suites 3 Number of Suites 13 Average Suite Size (’000sf) 88.1 Average Suite Size (’000sf) 83.5 Average Suite Size (’000sf) 44.0 Office Content (%) 2 Office Content (%) 2 Office Content (%) 5 Parking Space Ratio (sf) 1.34 per 1,000 sf Parking Space Ratio (sf) 60 per 1,000 sf Parking Space Ratio (sf) 1.52 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 4.2 Acquisition Price plus Additions (US$’m) 10.2 Acquisition Price plus Additions (US$’m) 28.5 Book Value (US$’m) 7.1 Book Value (US$’m) 20.3 Book Value (US$’m) 46.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 7.1 Independent Valuation (US$’m) 20.3 Independent Valuation (US$’m) 46.0 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 7.00 Average Passing Rent (US$/sf) 5.94 Average Passing Rent (US$/sf) 3.72 Average Passing Rent (US$/sf) 4.46 Average Market Rent (US$/sf) 5.94 Average Market Rent (US$/sf) 3.72 Average Market Rent (US$/sf) 4.46 Discount Rate (%) 8.00 Discount Rate (%) 8.00 Discount Rate (%) 8.00 Major Tenant Metro Express, Inc. Major Tenant Weyerhaeuser Company Major Tenant Skechers USA, Inc. Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.7 Weighted Lease Term by Income (years) 0.9 Weighted Lease Term by Income (years) 1.8 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 (%) 0 Year 2007 (%) 100 Year 2007 (%) 13 Year 2008 (%) 20 Year 2008 (%) 0 Year 2008 (%) 51 Year 2009 (%) 40 Year 2009 (%) 0 Year 2009 (%) 19 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 17 Year 2011 (%) 40 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 99 industrial portfolio – united states (continued)

Rancho Cucamonga, Riverside Airway Road, San Diego 5823 Newton Drive, San Diego

Three of the buildings (Richmond Place, The property is located in Otay Mesa off the The property is located at the end of a Buffalo Avenue and Sixth Street) are located 905 Freeway at the corner of Britannia Way cul-de-sac at Newton Drive just north of the north west of the I–10 and I–15 interchange. Santa and Airway Road. The 905 Freeway is located intersection of College Boulevard and Palomar Anita is located north east of the I–10 12 miles east of the San Diego (5) Freeway. Road, approximately three miles east of the of the and I–15 interchange. The properties are also Single, concrete tilt-up, multi-tenant, warehouse/ I–5 and five miles west of the 78 Freeway easily accessed via the Pomona (60) Freeway. flex building. Roof system is built-up tar. off College Boulevard. Single, concrete tilt-up, Four, concrete tilt-up, multi-tenant, warehouse/ single tenant, flex building. Roof system is flex buildings. Roof systems are built-up tar. built-up tar.

Details Details Details Building Type Industrial Estate Building Type Industrial Estate Building Type Business Park Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning M2 – 1 Light Industrial Zoning M2 – 1 Light Industrial Zoning RLI – Research Light Industrial Year Built 1988 to 2001 Year Built 1988 to 1997 Year Built 1999 Site Area (acres) 31.5 Site Area (acres) 11.6 Site Area (acres) 14.9 Lettable area (’000sf) 429.5 Lettable area (’000sf) 123.1 Lettable area (’000sf) 179.7 Site Coverage (%) 31 Site Coverage (%) 24 Site Coverage (%) 28 Number of Buildings 4 Number of Buildings 2 Number of Buildings 1 Number of Suites 15 Number of Suites 5 Number of Suites 1 Average Suite Size (’000sf) 28.6 Average Suite Size (’000sf) 24.6 Average Suite Size (’000sf) 179.7 Office Content (%) 2 Office Content (%) 21 Office Content (%) 50 Parking Space Ratio (sf) 2.2 per 1,000 sf Parking Space Ratio (sf) 2.66 per 1,000 sf Parking Space Ratio (sf) 2.37 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 21.4 Acquisition Price plus Additions (US$’m) 9.2 Acquisition Price plus Additions (US$’m) 16.4 Book Value (US$’m) 35.3 Book Value (US$’m) 12.5 Book Value (US$’m) 22.5 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 35.3 Independent Valuation (US$’m) 12.5 Independent Valuation (US$’m) 22.5 Capitalisation Rate (%) 7.00 Capitalisation Rate (%) 8.00 Capitalisation Rate (%) 7.75 Average Passing Rent (US$/sf) 5.07 Average Passing Rent (US$/sf) 8.25 Average Passing Rent (US$/sf) 7.63 Average Market Rent (US$/sf) 5.07 Average Market Rent (US$/sf) 8.25 Average Market Rent (US$/sf) 7.63 Discount Rate (%) 8.00 Discount Rate (%) 8.25 Discount Rate (%) 8.25 Major Tenant Weber Distribution Warehouses Major Tenant Illinois Tool Works, Inc. Major Tenant Graham Webb International, Inc. Occupancy (%) 100 Occupancy (%) 88 Occupancy (%) 100 Weighted Lease Term by Income (years) 2.6 Weighted Lease Term by Income (years) 3.3 Weighted Lease Term by Income (years) 3.0 Available (%) 0 Available (%) 10 Available (%) 0 Year 2007 (%) 26 Year 2007 (%) 20 Year 2007 (%) 0 Year 2008 (%) 3 Year 2008 (%) 0 Year 2008 (%) 0 Year 2009 (%) 13 Year 2009 (%) 42 Year 2009 (%) 0 Year 2010 (%) 50 Year 2010 (%) 0 Year 2010 (%) 100 Year 2011 (%) 8 Year 2011 (%) 0 Year 2011 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 29 Year 2013 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 10 0

2210 Oak Ridge Way, San Diego 26507 79th Avenue South Kent West, Seattle Seattle

The property is located west of the 78 Freeway Riverbend Commerce Park is located Kent West Corporate Park is located along the and south of Sycamore Avenue on the corner of approximately two miles east of SR 167 and west side of the West Valley Highway Melrose and Oak Ridge Way. Single, concrete south of South 259th Street and Green River (68th Avenue South), one half mile south tilt-up, single tenant, flex building. Roof system Road. One story, concrete tilt-up, multi-tenant, of South 212th Street. The property has is built-up tar. flex building. Roof system is built-up tar. excellent frontage on West Valley Highway, with easy access to Interstate 5 and Highway 167. Five, one story, concrete tilt-up, multi-tenant, warehouse/flex buildings. Roof systems are built-up tar.

Details Details Details Building Type Business Park Building Type Business Park Building Type Industrial Estate Ownership (%) 80 Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Co-Owner CalWest Zoning RLI – Research Light Industrial Zoning M–1 Industrial Park District Zoning M–1 Industrial Park District Year Built 1972 to 1999 Year Built 2000 Year Built 1989 to 2000 Site Area (acres) 3.4 Site Area (acres) 6.7 Site Area (acres) 19.6 Lettable area (’000sf) 53.3 Lettable area (’000sf) 35.9 Lettable area (’000sf) 402.8 Site Coverage (%) 36 Site Coverage (%) 12 Site Coverage (%) 47 Number of Buildings 1 Number of Buildings 1 Number of Buildings 5 Number of Suites 1 Number of Suites 3 Number of Suites 11 Average Suite Size (’000sf) 53.3 Average Suite Size (’000sf) 12.0 Average Suite Size (’000sf) 36.6 Office Content (%) 33 Office Content (%) 16 Office Content (%) 15 Parking Space Ratio (sf) 2.5 per 1,000 sf Parking Space Ratio (sf) 0.95 per 1,000 sf Parking Space Ratio (sf) 1 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 5.0 Acquisition Price plus Additions (US$’m) 2.6 Acquisition Price plus Additions (US$’m) 26.2 Book Value (US$’m) 6.7 Book Value (US$’m) 3.0 Book Value (US$’m) 30.4 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 6.7 Independent Valuation (US$’m) 3.0 Independent Valuation (US$’m) 30.0 Capitalisation Rate (%) 7.75 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 7.75 Average Passing Rent (US$/sf) 9.03 Average Passing Rent (US$/sf) 6.36 Average Passing Rent (US$/sf) 2.68 Average Market Rent (US$/sf) 9.03 Average Market Rent (US$/sf) 6.36 Average Market Rent (US$/sf) 2.68 Discount Rate (%) 8.25 Discount Rate (%) 8.75 Discount Rate (%) 8.75 Major Tenant Solatube International, Inc. Major Tenant American Power Systems, LLC Major Tenant Carpet Services, Inc. Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 90 Weighted Lease Term by Income (years) 2.7 Weighted Lease Term by Income (years) 1.6 Weighted Lease Term by Income (years) 7.7 Available (%) 0 Available (%) 0 Available (%) 17 Year 2007 (%) 0 Year 2007 (%) 31 Year 2007 (%) 3 Year 2008 (%) 0 Year 2008 (%) 41 Year 2008 (%) 0 Year 2009 (%) 100 Year 2009 (%) 29 Year 2009 (%) 29 Year 2010 (%) 0 Year 2010 (%) 0 Year 2010 (%) 4 Year 2011 (%) 0 Year 2011 (%) 0 Year 2011 (%) 22 Year 2012 (%) 0 Year 2012 (%) 0 Year 2012 (%) 0 Year 2013 (%) 0 Year 2013 (%) 0 Year 2013 (%) 26 Year 2014 (%) 0 Year 2014 (%) 0 Year 2014 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 10 1 industrial portfolio – united states (continued)

8005 South 266th Street, Seattle West Palm Beach, South Florida

Riverbend Commerce Park is located The buildings are located in the Northpoint approximately two miles east of SR 167 and Business Park three miles east of the FLA south of South 259th Street and Green River Turnpike interchange and half a mile west of I– Road. One story, concrete tilt-up, multi-tenant, 95 interchange via 45th Street. Three, one warehouse building. Roof system is built-up tar. story, concrete tilt-up, multi-tenant, warehouse buildings. Roof systems are built-up tar.

Details Details Building Type Distribution Centre Building Type Distribution Centre Ownership (%) 80 Ownership (%) 80 Co-Owner CalWest Co-Owner CalWest Zoning M–1 Industrial Park District Zoning CPD Commercial Planned Development Year Built 2000 Year Built 2000 to 2001 Site Area (acres) 6.7 Site Area (acres) 12.9 Lettable area (’000sf) 92.4 Lettable area (’000sf) 147.4 Site Coverage (%) 32 Site Coverage (%) 26 Number of Buildings 1 Number of Buildings 3 Number of Suites 5 Number of Suites 12 Average Suite Size (’000sf) 18.5 Average Suite Size (’000sf) 12.3 Office Content (%) 11 Office Content (%) 34 Parking Space Ratio (sf) 1.05 per 1,000 sf Parking Space Ratio (sf) 3 per 1,000 sf Acquisition Date Sep 2004 Acquisition Date Sep 2004 Acquisition Price plus Additions (US$’m) 6.9 Acquisition Price plus Additions (US$’m) 21.1 Book Value (US$’m) 7.8 Book Value (US$’m) 24.1 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (US$’m) 7.8 Independent Valuation (US$’m) 24.1 Capitalisation Rate (%) 7.50 Capitalisation Rate (%) 7.50 Average Passing Rent (US$/sf) 6.64 Average Passing Rent (US$/sf) 12.03 Average Market Rent (US$/sf) 6.64 Average Market Rent (US$/sf) 12.03 Discount Rate (%) 8.75 Discount Rate (%) 8.40 Major Tenant JFC International, Inc. Major Tenant Lockheed Martin Occupancy (%) 100 Aerospace Corporation Weighted Lease Term by Income (years) 4.1 Occupancy (%) 100 Available (%) 0 Weighted Lease Term by Income (years) 4.1 Year 2007 (%) 0 Available (%) 0 Year 2008 (%) 31 Year 2007 (%) 2 Year 2009 (%) 18 Year 2008 (%) 20 Year 2010 (%) 0 Year 2009 (%) 2 Year 2011 (%) 0 Year 2010 (%) 27 Year 2012 (%) 10 Year 2011 (%) 28 Year 2013 (%) 42 Year 2012 (%) 0 Year 2014 (%) 0 Year 2013 (%) 21 Year 2015 (%) 0 Year 2014 (%) 0 Year 2016+ (%) 0 Year 2015 (%) 0 Year 2016+ (%) 0

DB RREEF Trust Property Synopsis 2006 10 2 industrial

DB RREEF Trust Property Synopsis 2006 10 3 industrial portfolio – france

Zone industrielle Epône II 32 avenue de l’Océanie 21 rue du Chemin Blanc 78680 Epône 91140 Villejust 91160 Champlan

Epône is located 40 kilometres west of Paris The property is located to the south of Paris Longjumeau is located 19 kilometres to the (porte de Saint Cloud) and 15 kilometres from the within the International Business Park of south of Paris and 20 kilometres from Evry, A13/A14 motorway junction. Courtaboeuf, a major business and at the junction of the motorways A6, A10 The property is located within the industrial area transportation hub with good access by road, and N20. “La Couronne des Près” next to the town of rail and air. Epône, 1.5 km from the A13 motorway.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership 100 Ownership 100 Ownership 100 Year Built 1981, refurbished 2004 Year Built 1977, refurbished 2004 Year Built 1967, refurbished 2005 Site area (ha) 2.5 Site area (ha) 3.3 Site area (ha) 4.6 Lettable Area (’000 m2) 10.880 Lettable Area (’000 m2) 16.070 Lettable Area (’000 m2) 19.970 Site Coverage (%) 44 Site Coverage (%) 49 Site Coverage (%) 44 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Number of Suites 1 Number of Suites 1 Number of Suites 1 Average Suite Size (’000 m2) 10.880 Average Suite Size (’000 m2) 16.070 Average Suite Size (’000 m2) 19.970 Office Content (%) 2 Office Content (%) 7 Office Content (%) 16 Car Parking Spaces 71 Car Parking Spaces 95 Car Parking Spaces 25 Acquisition Date Jul 2006 Acquisition Date Jul 2006 Acquisition Date Jul 2006 Acquisition Price plus Additions (€’m) 7.2 Acquisition Price plus Additions (€’m) 9.7 Acquisition Price plus Additions (€’m) 13.0 Book Value (€’m) 7.2 Book Value (€’m) 9.7 Book Value (€’m) 13.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (€’m) 7.2 Independent Valuation (€’m) 9.7 Independent Valuation (€’m) 13.0 Exit Capitalisation Rate (%) 7.25 Exit Capitalisation Rate (%) 7.0 Exit Capitalisation Rate (%) 7.25 Average Passing Rent (€/m2) 49 Average Passing Rent (€/m2) 41 Average Passing Rent (€/m2) 48 Average Market Rent (€/m2) 45 Average Market Rent (€/m2) 48 Average Market Rent (€/m2) 57 Discount Rate (%) 7.5 Discount Rate (%) 7.5 Discount Rate (%) 7.5 Major Tenant Auchan France Major Tenant Coca-Cola Enterprises Major Tenant CAE Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Average Lease Term by Income (years) 6.7 Weighted Average Lease Term by Income (years) 5.9 Weighted Average Lease Term by Income (years) 6.1 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 0 Year 2007 0 Year 2007 0 Year 2008 0 Year 2008 0 Year 2008 0 Year 2009 0 Year 2009 0 Year 2009 0 Year 2010 0 Year 2010 0 Year 2010 0 Year 2011 0 Year 2011 0 Year 2011 0 Year 2012 0 Year 2012 100 Year 2012 0 Year 2013 100 Year 2013 0 Year 2013 100 Year 2014 0 Year 2014 0 Year 2014 0 Year 2015 0 Year 2015 0 Year 2015 0 Year 2016+ 0 Year 2016+ 0 Year 2016+ 0

DB RREEF Trust Property Synopsis 2006 10 4

RN 19 ZAC de L’Ormes Rond RN 19 ZAC de L’Ormes Rond 19 rue de Bretagne 77170 Servon 77170 Servon 38070 Saint-Quentin Fallavier

The property is located 20 kilometres to the The property is located 20 kilometres to the The property is located at Isle d’Abeau, next south east of Paris. The town of Servon is south east of Paris. The town of Servon is to the town of Saint Quentin Fallavier to the located next to the “Francilienne” Paris outer located next to the “Francilienne” Paris outer south east of Lyon. The site benefits from motorway ring road. The site is also served by the motorway ring road. The site is also served by direct access to the A43 motorway and within N19 road. The property is situated within the N19 road. The property is situated within proximity of the Saint Exupéry airport and the “L’Orme Rond” industrial area which the “L’Orme Rond” industrial area which TGV station. Isle d’Abeau is the second largest extends to 10 hectares between the N19 and extends to 10 hectares between the N19 and logistics location in France after the Paris region. the TGV line. The industrial area is currently fully the TGV line. The industrial area is currently occupied. fully occupied.

Details Details Details Building Type Distribution Centre Building Type Distribution Centre Building Type Distribution Centre Ownership 100 Ownership 100 Ownership 100 Year Built 1973 to 1992, refurbished 2004 Year Built 1999 and 2003 Year Built 1975, refurbished 2004 Site area (ha) 5.5 Site area (ha) 1.5 Site area (ha) 6.1 Lettable Area (’000 m2) 27.235 Lettable Area (’000 m2) 8.482 Lettable Area (’000 m2) 26.646 Site Coverage (%) 49 Site Coverage (%) 58 Site Coverage (%) 43 Number of Buildings 1 Number of Buildings 1 Number of Buildings 1 Number of Suites 1 Number of Suites 1 Number of Suites 11 Average Suite Size (’000 m2) 27.235 Average Suite Size (’000 m2) 8.482 Average Suite Size (’000 m2) 2.422 Office Content (%) 2 Office Content (%) 1 Office Content (%) 9 Car Parking Spaces 90 Car Parking Spaces 90 Car Parking Spaces 45 Acquisition Date Jul 2006 Acquisition Date Jul 2006 Acquisition Date Jul 2006 Acquisition Price plus Additions (€’m) 18.5 Acquisition Price plus Additions (€’m) 6.5 Acquisition Price plus Additions (€’m) 13.0 Book Value (€’m) 18.5 Book Value (€’m) 6.5 Book Value (€’m) 13.0 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2006 Independent Valuation (€’m) 18.5 Independent Valuation (€’m) 6.5 Independent Valuation (€’m) 13.0 Exit Capitalisation Rate (%) 7.0 Exit Capitalisation Rate (%) 6.75 Exit Capitalisation Rate (%) 7.25 Average Passing Rent (€/m2) 49 Average Passing Rent (€/m2) 52 Average Passing Rent (€/m2) 37 Average Market Rent (€/m2) 48 Average Market Rent (€/m2) 48 Average Market Rent (€/m2) 38 Discount Rate (%) 7.5 Discount Rate (%) 7.0 Discount Rate (%) 7.75 Major Tenant ID Logistics France Major Tenant La Flèche Cavaillonnaise Major Tenant Auxine Logistic Occupancy (%) 100 Occupancy (%) 100 Occupancy (%) 100 Weighted Average Lease Term by Income (years) 7.7 Weighted Average Lease Term by Income (years) 5.4 Weighted Average Lease Term by Income (years) 7.3 Available (%) 0 Available (%) 0 Available (%) 0 Year 2007 0 Year 2007 0 Year 2007 0 Year 2008 0 Year 2008 0 Year 2008 1 Year 2009 0 Year 2009 0 Year 2009 0 Year 2010 0 Year 2010 0 Year 2010 0 Year 2011 0 Year 2011 0 Year 2011 0 Year 2012 0 Year 2012 0 Year 2012 0 Year 2013 0 Year 2013 100 Year 2013 0 Year 2014 100 Year 2014 0 Year 2014 48 Year 2015 0 Year 2015 0 Year 2015 0 Year 2016+ 0 Year 2016+ 0 Year 2016+ 0

DB RREEF Trust Property Synopsis 2006 10 5 retail

Westfield Mount Druitt, Cnr Carlisle and Luxford Roads, Mount Druitt NSW

DB RREEF Trust Property Synopsis 2006 10 6

Westfield Hurstville Westfield Mount Druitt Westfield North Lakes 262–264 Forest Road and Cnr Carlisle and Luxford Roads Cnr Anzac Avenue and North 292 Forest Road, Hurstville, NSW Mt Druitt, NSW Lakes Drive, Mango Hill, QLD

A major regional shopping centre located Located in the western suburbs of Sydney, A sub-regional shopping centre located approximately 18 kilometres south west of this regional centre commenced trade in 1973 approximately 25 kilometres north of the the Sydney CBD. The centre was constructed and has undergone several additions and Brisbane CBD. The centre was constructed during 1977/78 and later extended and redevelopments since. Presently the centre is in August 2003 and is anchored by four major refurbished in 1989/90. The centre comprises undergoing significant further redevelopment tenants in addition to some 90 specialty retailers. nine major and mini-major tenants in addition due for completion in early 2006. On completion to approximately 250 specialty retailers. Car the centre will be anchored by eight major parking is provided for some 3,023 vehicles. tenants in addition to some 230 specialty retailers.

Details Details Details Building Type Major Regional – Shopping Centre Building Type Regional – Shopping Centre Building Type Regional – Shopping Centre Ownership (%) 50 Ownership (%) 50 Ownership (%) 50 Co-Owner Westfield Co-Owner Westfield Co-Owner Westfield Year Built 1978 Year Built 1973 Year Built 2003 Site Area (ha) 3.3 Site Area (ha) 15.7 Site Area (ha) 25.9 Lettable Area (’000m2) 65.333 Lettable Area (’000m2) 60.131 Lettable Area (’000m2) 25.664 Car Parking Spaces 3,023 Car Parking Spaces 2,452 Car Parking Spaces 1,490 Acquisition Date May 2005 Acquisition Date Aug 2004 Acquisition Date Aug 2004 Acquisition Price plus Additions (A$’m) 246.5 Acquisition Price plus Additions (A$’m) 171.4 Acquisition Price plus Additions (A$’m) 69.2 Book Value (A$’m) 260.0 Book Value (A$’m) 182.5 Book Value (A$’m) 77.2 Independent Valuation Date Feb 2005 Independent Valuation Date Jun 2006 Independent Valuation Date Jun 2004 Independent Valuation (A$’m) 232.5 Independent Valuation (A$’m) 182.5 Independent Valuation (A$’m) 60.3 Capitalisation Rate (%) 6.75 Capitalisation Rate (%) 6.50 Capitalisation Rate (%) 7.50 Initial Yield (%) 6.81 Initial Yield (%) 6.23 Initial Yield (%) 7.31 Discount Rate (%) 9.00 Discount Rate (%) 9.00 Discount Rate (%) 9.50 Moving Annual Turnover Moving Annual Turnover Moving Annual Turnover (GST included) (A$’m) 359.7 (GST included) (A$’m) 294.7 (GST included) (A$’m) 130.0 Occupancy Costs (%) 11.0 Occupancy Costs (%) 9.7 Occupancy Costs (%) 7.4 Speciality Occupancy Costs (%) 18.2 Speciality Occupancy Costs (%) 16.9 Speciality Occupancy Costs (%) 12.3 Major Tenant Coles Myer Ltd (Myer/K-Mart) Major Tenant Coles Myer Ltd (K-Mart) Major Tenant Coles Myer Ltd (Target) Occupancy (%) 100 Occupancy (%) 99 Occupancy (%) 100 Weighted Lease Term by Income (years) 3.9 Weighted Lease Term by Income (years) 5.9 Weighted Lease Term by Income (years) 6.7 Available (%) 0 Available (%) 1 Available (%) 0 Year 2007 (%) 12 Year 2007 (%) 16 Year 2007 (%) 0 Year 2008 (%) 18 Year 2008 (%) 5 Year 2008 (%) 1 Year 2009 (%) 14 Year 2009 (%) 8 Year 2009 (%) 42 Year 2010 (%) 17 Year 2010 (%) 12 Year 2010 (%) 10 Year 2011 (%) 15 Year 2011 (%) 22 Year 2011 (%) 4 Year 2012 (%) 5 Year 2012 (%) 5 Year 2012 (%) 11 Year 2013 (%) 1 Year 2013 (%) 4 Year 2013 (%) 0 Year 2014 (%) 9 Year 2014 (%) 2 Year 2014 (%) 4 Year 2015 (%) 0 Year 2015 (%) 0 Year 2015 (%) 0 Year 2016+ (%) 8 Year 2016+ (%) 25 Year 2016+ (%) 27

DB RREEF Trust Property Synopsis 2006 10 7 retail portfolio – australia (continued)

Westfield West Lakes Shopping Plenty Valley Town Centre Westfield Whitford City Shopping Centre, 11 West Lakes McDonalds Road Centre, Whitford Avenue and Lot Boulevarde West Lakes, SA South Morang, VIC 6 Endeavour Road, Hillarys, WA

A regional shopping centre, which recently A Greenfield site, which will be utilised to Whitford City is classified as a regional underwent a major upgrade and expansion create a Town Square style retail precinct shopping centre and is located in the suburb over a two year period, completing in August in conjunction with the City of Whittlesea. of Hillarys around 24 kilometres north west 2005. West Lakes is located approximately The site covers 50 hectares and includes a from the Perth CBD. Adjacent to Whitford City 14 kilometres north west of the Adelaide CBD. Coles Supermarket and 20 specialty stores. is Lot 6, Endeavour Road, a retail bulky goods Stage One was built to the standard of a full and showroom site currently incorporating a regional shopping centre to facilitate efficient Bunning’s Warehouse and 11 showrooms.

expansions of the centre over future years. Plenty Valley is located in Mill Park, 25

kilometres north of the Melbourne CBD, and part of Plenty Valley, the northern Melbourne metropolitan growth corridor.

Details Details Details Building Type Regional – Shopping Centre Building Type Neighbourhood – Shopping Centre Building Type Regional – Shopping Centre/ Ownership (%) 50 Ownership (%) 50 Bulky Goods Co-Owner Westfield Co-Owner Westfield Ownership (%) 50 Year Built 1974 Year Built 2001 and 2003 Co-Owner Westfield Site Area (ha) 20.0 Site Area (ha) 47.8 Year Built 1978, 1995 and 1997 Lettable Area (’000m2) 61.296 Lettable Area (’000m2) 6.230 Site Area (ha) 22.7 Car Parking Spaces 3,600 Car Parking Spaces 429 Lettable Area (’000m2) 76.326 Acquisition Date Nov 1998 Acquisition Date Nov 1999 Car Parking Spaces 4,170 Acquisition Price plus Additions (A$’m) 116.8 Acquisition Price plus Additions (A$’m) 19.7 Acquisition Date Oct 1984 and Dec 1992 Book Value (A$’m) 143.0 Book Value (A$’m) 20.2 Acquisition Price plus Additions (A$’m) 134.0 Independent Valuation Date Dec 2005 Independent Valuation Date Jun 2004 Book Value (A$’m) 232.5 Independent Valuation (A$’m) 131.0 Independent Valuation (A$’m) 9.2 Independent Valuation Date Dec 2005 Capitalisation Rate (%) 7.0 Capitalisation Rate (%) 7.75 Independent Valuation (A$’m) 210.0 Initial Yield (%) 7.10 Initial Yield (%) 7.66 Capitalisation Rate (%) 6.75 Discount Rate (%) 10.00 Discount Rate (%) 9.75 Initial Yield (%) 7.46 Moving Annual Turnover Moving Annual Turnover Discount Rate (%) 10.27 (GST included) (A$’m) 287.4 (GST included) (A$’m) 54.4 Moving Annual Turnover1 Occupancy Costs (%) 8.6 Occupancy Costs (%) 4.7 (GST included) (A$’m) 377.7 Speciality Occupancy Costs (%) 14.1 Speciality Occupancy Costs (%) 9.40 Occupancy Costs1 (%) 8.7 Major Tenant Coles Myer Ltd (K-Mart) Major Tenant Coles Myer Ltd (Coles) 1 Occupancy (%) 99 Occupancy (%) 100 Speciality Occupancy Costs (%) 13.6 Weighted Lease Term by Income (years) 5.4 Weighted Lease Term by Income (years) 7.1 Major Tenant Woolworths Ltd Available (%) 1 Available (%) 1 (Woolworths/Big W) Year 2007 (%) 13 Year 2007 (%) 24 Occupancy (%) 99 Year 2008 (%) 9 Year 2008 (%) 2 Weighted Lease Term by Income (years) 5.0 Year 2009 (%) 6 Year 2009 (%) 5 Available (%) 1 Year 2010 (%) 24 Year 2010 (%) 11 Year 2007 (%) 8 Year 2011 (%) 12 Year 2011 (%) 2 Year 2008 (%) 10 Year 2012 (%) 4 Year 2012 (%) 19 Year 2009 (%) 23 Year 2013 (%) 1 Year 2013 (%) 0 Year 2010 (%) 14 Year 2014 (%) 1 Year 2014 (%) 0 Year 2011 (%) 16 Year 2015 (%) 4 Year 2015 (%) 0 Year 2012 (%) 8 Year 2016+ (%) 24 Year 2016+ (%) 37 Year 2013 (%) 0 Year 2014 (%) 3 Year 2015 (%) 1 Year 2016+ (%) 15 1 Data excludes Lot 6, Endeavour Road (bulky goods).

DB RREEF Trust Property Synopsis 2006 10 8 index

Office portfolio – Australia...... 16 40–50 Talavera Road, Macquarie Park, NSW...... 34 Garema Court, 140–180 City Walk, Civic, Canberra, ACT ...... 17 Kings Park Industrial Estate, Vardys Road, Marayong, NSW ...... 34 14 Moore Street, Civic, Canberra, ACT...... 17 154 O’Riordan Street, Mascot, NSW ...... 34 The Zenith, 821–843 Pacific Highway, Chatswood, NSW ...... 17 1–15 Rosebery Avenue, Rosebery, NSW...... 35 Victoria Cross, 60 Miller Street, North Sydney, NSW...... 18 25–55 Rothschild Avenue, Rosebery, NSW ...... 35 Ferguson Centre, 130 George Street, Parramatta, NSW...... 18 10–16 South Street, Rydalmere, NSW...... 35 O’Connell House, 15–19 Bent Street, Sydney, NSW ...... 18 DB RREEF Industrial Estate, Egerton Street, Silverwater, NSW...... 36 1–7 Bligh Street, Sydney, NSW...... 19 19 Chifley Street, Smithfield, NSW ...... 36 9–13 Bligh Street, Sydney, NSW ...... 19 239–251 Woodpark Road, Smithfield, NSW...... 36 45 Clarence Street, Sydney, NSW ...... 19 12 Frederick Street, St Leonards, NSW...... 37 201–217 Elizabeth Street, Sydney, NSW...... 20 40 Biloela Street, Villawood, NSW ...... 37 GPT/GMT Complex and Terraces, 1 Farrer Place, Sydney, NSW ...... 20 27–33 Frank Street, Wetherill Park, NSW ...... 37 Australia Square Complex, 264–278 George Street, Sydney, NSW ...... 20 30 Bellrick Street, Acacia Ridge, QLD ...... 38 30 The Bond, 30–34 Hickson Road, Sydney, NSW ...... 21 121 Evans Road, Salisbury, QLD ...... 38 309–321 Kent Street, Sydney, NSW ...... 21 25 Donkin Street, West End Brisbane, QLD ...... 38 383–395 Kent Street, Sydney, NSW ...... 21 15–23 Whicker Road, Gillman, SA ...... 39 One Margaret Street, Sydney, NSW ...... 22 Target Distribution Centre, Tarras Road, Altona North, VIC ...... 39 44 Market Street, Sydney, NSW ...... 22 114 Fairbank Road, Clayton, VIC ...... 39 2 O’Connell Street, Sydney, NSW ...... 22 Pound Road West, Dandenong, VIC ...... 40 4 O’Connell Street, Sydney, NSW ...... 23 Redwood Gardens Industrial Estate, Boundary Road, Dingley, VIC ...... 40 Flinders Gate Complex, 172 Flinders Street (and 189 Flinders Lane), 352 Macaulay Road, Kensington, VIC ...... 40 Melbourne, VIC...... 23 Knoxfield Industrial Estate, Henderson Road, Knoxfield, VIC...... 41 8 Nicholson Street, Melbourne, VIC...... 23 250 Forest Road South, Lara, VIC ...... 41 Southgate Complex, 3 Southgate Avenue, Southbank, VIC...... 24 DB RREEF Industrial Estate, Boundary Road, Laverton North, VIC ...... 41 Woodside Plaza, 240 St George’s Terrace, Perth, WA ...... 24 Axxess Corporate Park, Cnr Ferntree Gully and Gilby Roads, Office portfolio – New Zealand...... 24 Mount Waverley, VIC ...... 42 Lumley Centre, 88 Shortland Street, Auckland, NZ ...... 24 68 Hasler Road, Herdsman, WA...... 42 Car park portfolio – Australia...... 25 Industrial portfolio – United States...... 43 383–395 Kent Street, Sydney, NSW ...... 26 3765 Atlanta Industrial Drive, Atlanta...... 44 Albert and Charlotte Streets, Brisbane, QLD...... 26 7100 Highlands Parkway, Atlanta ...... 44 32–44 Flinders Street, Melbourne, VIC ...... 26 Stone Mountain, Atlanta...... 44 Flinders Gate Car Park, 172–189 Flinders Street, Melbourne, VIC ...... 27 Town Park Drive, Atlanta...... 45 34–60 Little Collins Street, Melbourne, VIC...... 27 Williams Drive, Atlanta ...... 45 Industrial portfolio – Australia ...... 28 Bristol Court, Baltimore ...... 45 52 Holbeche Road, Arndell Park, NSW ...... 29 Cabot Techs, Baltimore...... 46 79–97 St Hilliers Road, Auburn, NSW ...... 29 Fort Holabird Industrial, Baltimore ...... 46 3 Brookhollow Avenue, Baulkham Hills, NSW ...... 29 9112 Guilford Road, Baltimore ...... 46 1 Garigal Road, Belrose, NSW ...... 30 MD Food Park, Baltimore ...... 47 2 Minna Close, Belrose, NSW...... 30 NE Baltimore, Baltimore...... 47 3–7 Bessemer Street, Blacktown, NSW ...... 30 Patuxent Range Road, Baltimore...... 47 30–32 Bessemer Street, Blacktown, NSW ...... 31 8155 Stayton Drive, Baltimore...... 48 114–120 Old Pittwater Road, Brookvale, NSW...... 31 West Nursery, Baltimore...... 48 2 Alspec Place, Eastern Creek, NSW...... 31 10 Kenwood Circle, Boston...... 48 145–151 Arthur Street, Flemington, NSW ...... 32 9900 Brookford Street, Charlotte ...... 49 436–484 Victoria Road, Gladesville, NSW ...... 32 Commerce Park, Charlotte...... 49 1 Foundation Place, Greystanes, NSW ...... 32 Westinghouse, Charlotte ...... 49 27–29 Liberty Road, Huntingwood, NSW ...... 33 Airport Exchange, Cincinatti/North Kentucky...... 50 706 Mowbray Road, Lane Cove, NSW ...... 33 124 Commerce, Cincinatti/North Kentucky ...... 50 11 Talavera Road, Macquarie Park, NSW ...... 33 Empire Drive, Cincinatti/North Kentucky...... 50

DB RREEF Trust Property Synopsis 2006 83 index (continued)

International Way, Cincinatti/North Kentucky...... 51 Calvert/Murry’s, Northern Virginia/Washington DC ...... 66 Kentucky Drive, Cincinatti/North Kentucky ...... 51 CTC at Dulles, Northern Virginia/Washington DC...... 67 Kenwood Road, Cincinatti/North Kentucky ...... 51 Guilford, Northern Virginia/Washington DC ...... 67 Lake Forest Drive, Cincinatti/North Kentucky ...... 52 Nokes Boulevard, Northern Virginia/Washington DC ...... 67 Spiral Drive, Cincinatti/North Kentucky ...... 52 7500 Exchange Drive, Orlando...... 68 Turfway Road, Cincinatti/North Kentucky...... 52 Orlando Central Park, Orlando ...... 68 World Park, Cincinatti/North Kentucky ...... 53 844 44th Avenue, Phoenix ...... 68 Equity/Westbelt/Dividend, Columbus...... 53 1858 East Encanto Drive, Phoenix...... 69 2700 International Street, Columbus ...... 53 3802–3922 East University Drive, Phoenix...... 69 SE Columbus, Columbus ...... 54 431 North 47th Avenue, Phoenix ...... 69 3800 Twin Creeks Drive, Columbus ...... 54 220 South 9th Street, Phoenix ...... 70 10th Street, Dallas ...... 54 1429–1439 South 40th Avenue, Phoenix ...... 70 455 Airline Drive, Dallas...... 55 105–107 South 41st Avenue, Phoenix ...... 70 555 Airline Drive, Dallas...... 55 601 South 55th Avenue, Phoenix ...... 71 Arlington, Dallas ...... 55 1000 South Priest Drive, Phoenix...... 71 820–860 Avenue F, Dallas...... 56 1120–1150 West Alameda Drive, Phoenix ...... 71 1413 Bradley Lane, Dallas...... 56 10397 West Van Buren Street, Phoenix...... 72 Capital Avenue, Dallas...... 56 Chino, Riverside...... 72 1900 Diplomat Drive, Dallas ...... 57 4190 East Santa Ana Street, Riverside...... 72 2055 Diplomat Drive, Dallas ...... 57 12000 Jersey Court, Riverside ...... 73 East Collins, Dallas ...... 57 Mira Loma, Riverside...... 73 3601 East Plano/1000 Shiloh Road, Dallas ...... 58 Ontario, Riverside ...... 73 East Plano/2700 Summit, Dallas ...... 58 Rancho Cucamonga, Riverside ...... 74 Hillguard, Dallas ...... 58 Airway Road, San Diego...... 74 North Lake, Dallas...... 59 5823 Newton Drive, San Diego...... 74 11011 Regency Crest Drive, Dallas...... 59 2210 Oak Ridge Way, San Diego ...... 75 CTC at Valwood, Dallas...... 59 26507 79th Avenue South, Seattle ...... 75 Brackbill, Harrisburg ...... 60 Kent West, Seattle ...... 75 181 Fulling Mill Road, Harrisburg...... 60 8005 South 266th Street, Seattle...... 76 Mechanicsburg, Harrisburg ...... 60 West Palm Beach, South Florida ...... 76 14555 Alondra/6530 Altura, Los Angeles...... 61 Industrial portfolio – France ...... 77 Glendale, Los Angeles ...... 61 Zone industrielle Epône II, 78680 Epône ...... 78 14489 Industry Circle, Los Angeles...... 61 32 avenue de l’Océanie, 91140 Villejust...... 78 San Fernando Valley, Los Angeles...... 62 21 rue du Chemin Blanc, 91160 Champlan...... 78 Memphis Industrial, Memphis ...... 62 RN 19 ZAC de L’Ormes Rond, 77170 Servon ...... 79 Turnpike Distribution Center, Miami ...... 62 RN 19 ZAC de L’Ormes Rond, 77170 Servon ...... 79 Braemer Ridge, Minneapolis ...... 63 19 rue de Bretagne, 38070 Saint-Quentin Fallavier ...... 79 Brooklyn Park Interstate Center, Minneapolis...... 63 Retail portfolio – Australia ...... 80 Eagandale Business Campus, Minneapolis...... 63 Westfield Hurstville, 262–264 Forest Road and 292 Forest Road, Hurstville, NSW ...... 81 Oak Park Business Center, Minneapolis ...... 64 Westfield Mount Druitt, Cnr Carlisle and Luxford Roads, 7401 Cahill Road, Minneapolis...... 64 Mt Druitt, NSW ...... 81 2950 Lexington Avenue South, Minneapolis ...... 64 Westfield North Lakes, Cnr Anzac Avenue and North Lakes Drive, 8575 Monticello Lane, Minneapolis ...... 65 Mango Hill, QLD ...... 81 Mounds View, Minneapolis ...... 65 Westfield West Lakes Shopping Centre, 11 West Lakes Boulevarde, West Lakes, SA ...... 82 6105 Trenton Lane, Minneapolis ...... 65 Plenty Valley Town Centre, McDonalds Road, South Morang, VIC...... 82 Alexandria, Northern Virginia/Washington DC ...... 66 Westfield Whitford City Shopping Centre, Beaumeade Telecom, Northern Virginia/Washington DC...... 66 Whitford Avenue and Lot 6 Endeavour Road, Hillarys, WA...... 82

DB RREEF Trust Property Synopsis 2006 84 directory directory

DB RREEF Diversified Trust ARSN 089 324 541 DB RREEF Industrial Trust ARSN 090 879 137 DB RREEF Office Trust ARSN 090 768 531 DB RREEF Operations Trust ARSN 110 521 223 responsible entity DB RREEF Funds Management Limited ABN 24 060 920 783 registered office of responsible entity Level 9, 343 George Street Sydney NSW 2000 PO Box R1822 Royal Exchange NSW 1225 Phone: 61 2 9017 1100 Fax: 61 2 9017 1101 investor enquiries Email: [email protected] Freecall: 1800 819 675 Phone: 61 2 8280 7126 Website: www.dbrreef.com security registry Link Market Services Level 12, 680 George Street Sydney NSW 2000 Locked Bag A14 Sydney South NSW 2000 Phone: 61 2 8280 9126 Freecall: 1800 819 675 Fax: 61 2 9287 0303 Email: [email protected] Website: www.linkmarketservices.com.au

For enquiries regarding your holding you can either contact the security registry or access your holding details via the web at www.dbrreef.com and follow the links.

Listed on the Australian Stock Exchange ASX Code: DRT

InfoLine 1800 819 675 Monday to Friday between 8.30am and 5.30pm (EST)

DB RREEF Trust Property Synopsis 2006 85