Exhibit 99.7

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Business Review Day

Investment Properties

Greg Vorwaller

President

March 23, 2005

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2004 Total Americas Revenue Percentages

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Overview

Investment Properties advises investors and owners in the sale and acquisition of income producing properties

Property Sectors covered:

• Office

• Industrial

• Retail

• Multi-Housing

• Hotels

• Other growing niches, including Student Housing and Senior Housing

Services Include:

• Investment Valuations

• Investment Strategy Development

• Investment Brokerage

• Property & Portfolio Recapitalization

Organization

Organized by geography and client segments, globally

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Global Investment Properties Leadership

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Greg Vorwaller President Global Coordinator

Asia Pacific Sydney, Australia		Americas Chicago, USA		Europe, Middle East & Africa London, UK

Hotels Chicago, IL	Institutional Group Washington, DC		Western Division/PCG San Diego, CA		Eastern Division Dallas, TX

Statistics

• A global business

• 600 sales professionals worldwide

• 350 in the US

• $60 Billion traded in 2004, $28 Billion in the US

• Ranked #1 for five years in the US for “Sales Over $5mm”

• Grew US sales by 65% compared with 50% for market

Source: Real Capital Analytics

Relative Share (US)

Market Share Analysis	2001		2002		2003		2004		3 Yr CAGR
CBRE	9.6	%	9.3	%	14.1	%	15.6	%	56.1	%
Competitor #1	6.1	%	7.2	%	4.9	%	8.9	%	51.2	%
Competitor #2	4.3	%	7.0	%	7.0	%	6.2	%	49.8	%
Overall Market	—		—		—		—		33.0	%

Source: Real Capital Analytics

Statistics – US Market Activity

Transaction Value

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Revenue

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Key Business Drivers

• Demographically driven investor demand for income and value stability

• Permanent and increased role for real estate in institutional allocation models

• Globalization of capital flows

• Consolidation of service providers

• Aggregation of highly fragmented Private Client Market

2005 Strategic Priorities

• Continue to focus on institutional and private client segments – stay narrow and deep

• Acquire, retain and train talent with focus on key growth areas, e.g. Hotels

• Invest in enabling IT platforms to enhance client relationship management initiatives and improve overall execution efficiency and effectiveness

• Expand the integrated service linkage between L. J. Melody & Co. and the global platform

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