Our Real Estate - US properties business operates through UBS Realty Investors LLC, a subsidiary of UBS AG. UBS Realty Investors LLC is organized as a limited liability company and is registered with the US Securities and Exchange Commission (SEC) as an investment advisor. UBS Realty Investors LLC and its predecessors have been registered with the SEC as an investment advisor under the Investment Advisers Act of 1940, as amended, since January 5, 1994. Please note that registration does not imply a certain level of skill or training.

UBS Realty Investors LLC has two subsidiaries, UBS AgriVest LLC and a limited-purpose broker-dealer. UBS AgriVest LLC is a registered investment advisor specializing in the acquisition, management and disposition of US agricultural real estate investments for institutional clients.

UBS Realty Investors LLC, formerly Allegis Realty Investors LLC, is the successor organization to the real estate investment advisory business of Aetna Realty Investors, Inc.

In June 1996, Aetna Life Insurance Company sold its real estate investment advisory management business to Allegis Realty Investors LLC, an entity comprised of senior management and a Massachusetts-based venture capital company. In 1999, UBS acquired Allegis Realty Investors LLC and its name was changed to UBS Realty Investors LLC.

In January 2001, the existing US real estate advisory business of UBS Asset Management, serving non-US clients, was integrated into UBS Realty Investors LLC. In February 2003, UBS Asset Management separated its real estate businesses in various regions from its traditional investments business and combined them into the Real Estate platform. The Real Estate business is most active in the United States, Europe, Japan and Australia.