KanAm Grund KG mbH

1978 Formation of KanAm Grundbesitz GmbH Launch of first closed-end KanAm US Fund 1983 Launch of first closed-end KanAm Deutschland Fund 1984 Launch of first closed-end KanAm Shopping Mall Fund in the US as a joint venture with Mills' predecessor, Western Development 1985 Sale of first KanAm US Fund with total returns after tax of 322 percent, representing a return after tax of 44.4 percent p.a. 1989 Sale of second KanAm US Fund with total returns after tax of 342 percent, representing a return after tax of 26.9 percent p.a. 1990 Investment volume reaches 1 billion D-marks 1994 Mills Corporation goes public (NYSE) as a Real Estate Investment Trust (REIT), KanAm is founding stockholder and holds the largest individual stake Sale of first three KanAm Deutschland Funds with total returns after tax of 271 to 314 percent, representing profits after tax of 15.5 to 21.4 percent p.a. 1996 Sale of KanAm Deutschland Fund IV with total returns after tax of 239 percent, representing a return after tax of 12.7 percent p.a. 1997 Sale of KanAm Deutschland Fund V and KanAm Deutschland Fund VI with total returns after tax of 271 and 239 percent respectively, representing a return after tax of 14.3 and 12.7 percent p.a. 2000 Formation of KanAm Grund Kapitalanlagegesellschaft mbH, Frankfurt/Main, Germany Formation of Westwind Capital Partners Construction work starts on HighLight Towers/Parkstadt Schwabing high-rise complex, architect: Helmut Jahn 2001 Launch of KanAm grundinvest Fonds, the first non-bank, independent open-ended real estate fund in Germany 2002 The open-ended real estate fund KanAm grundinvest Fonds achieves a performance of 7.3 percent and is ranked first in the statistics published by the BVI (German investment management association) Two closed-end office funds launched with WestWind Capital Partners: "The Investment Building" in Washington, D.C., and "Wachovia Financial Center" in Miami 2003 Dissolution of the closed-end Mills funds KanAm USA III, KanAm USA V and KanAm USA VI and distribution of 90 million US dollars to the participating investors. Investors in these funds posted an average return on their investment of 18.7 percent p.a. Launch of KanAm US-grundinvest Fonds, the first open-ended real estate fund in US dollars to be authorized in Germany Sale of closed-end Mills funds KanAm USA VII to KanAm USA X and distribution of 160 million US dollars to the participating investors. Investors in these funds posted an average return on their investment of 10.3 percent p.a. Formation of KanAm Grund Spezialfondsgesellschaft mbH, Frankfurt,/Main, Germany, and its authorization by German Federal banking Authority (BaFin) to conduct investment business 2004 Dissolution of the closed-end Mills funds KanAm USA IV, KanAm USA XI, KanAm USA XIII and partial dissolution of KanAm USA XII and distribution of 145 million US dollars to the participating investors. Investors of the closed-end Mills funds KanAm USA IV, KanAm USA XI, KanAm USA XIII posted an average return on their investment of 14.05 percent p.a., investors of KanAm USA XII posted an intermediate result on their investment of 8.30 percent p.a. Sale of Commonwealth Tower (Washington/Rosslyn) on behalf of KanAm grundinvest Fonds, generating a return on investment in excess of 20 percent since acqusition in 2002 Sale of a 50% joint-venture interest in the super regional US Shopping Mall Ontario Mills, Los Angeles/California on the open market. The closed-end Mills funds KanAm USA XIV and XXI formerly invested in Ontario Mills. Investors posted a return on their investment between 8.6 and 27.6 percent p.a. 2005 KanAm Grund Spezialfondsgesellschaft mbH, Frankfurt, Germany, launched its first open-ended real estate fund especially for institutional investors - KanAm SPEZIAL grundinvest Fonds 2006 Sale of the joint venture interest in the Investment Building. Investors posted an average pre-tax return on their investment of about 34 percent p.a. for a holding period of four years Sale of the joint venture interest in the Wachovia Financial Center. Investors posted an average pre-tax return on their investment of about 12.9 percent p.a. for a holding period of three years 2007 In December 2007 the KanAm Group expanded to include SachsenFonds, based in Haar near Munich, as a result of acquiring a majority interest.

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