-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LlYQa1YqpCRlKogVKfBWYrc9CtZNXP7Hybb+T+jDCwPjgdSWWD6iu88oOQta9B2l LOQogn3YRi30Geih5j7f0A== 0000891836-06-000384.txt : 20061122 0000891836-06-000384.hdr.sgml : 20061122 20061122121156 ACCESSION NUMBER: 0000891836-06-000384 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20061122 DATE AS OF CHANGE: 20061122 GROUP MEMBERS: DEUTSCHE BANK SECURITIES INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GLENBOROUGH REALTY TRUST INC CENTRAL INDEX KEY: 0000929454 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 943211970 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-49007 FILM NUMBER: 061235239 BUSINESS ADDRESS: STREET 1: 400 SOUTH EL CAMINO REAL CITY: SAN MATEO STATE: CA ZIP: 94402 BUSINESS PHONE: 6503439300 MAIL ADDRESS: STREET 1: 400 SOUTH EL CAMINO REAL CITY: SAN MATEO STATE: CA ZIP: 94402 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DEUTSCHE BANK AG\ CENTRAL INDEX KEY: 0000948046 IRS NUMBER: 13294498 STATE OF INCORPORATION: I8 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: TAUNUSANLAGE 12 D-60325 CITY: FRANKFURT AM MAIN GE STATE: I8 MAIL ADDRESS: STREET 1: TAUNUSANLAGE 12 D-60325 CITY: FRANKFURT AM MAIN STATE: I8 SC 13D 1 sc0187.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. _)* GLENBOROUGH REALTY TRUST INCORPORATED - -------------------------------------------------------------------------------- (NAME OF ISSUER) Common Stock - -------------------------------------------------------------------------------- (TITLE OF CLASS OF SECURITIES) 37803P105 - -------------------------------------------------------------------------------- (CUSIP NUMBER) JEFFREY RUIZ DEUTSCHE BANK AG C/O DEUTSCHE BANK SECURITIES INC. 60 WALL STREET New York, NY 10005 (212) 250-3667 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 3, 2006 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The Information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Cusip No. 37803P105 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Deutsche Bank AG - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC (See Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Deutsche Bank AG is organized under the laws of the Federal Republic of Germany. - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,884,366 ---------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 46 OWNED BY ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 1,884,366 WITH ---------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,884,412 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON BK - -------------------------------------------------------------------------------- Cusip No. 37803P105 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Deutsche Bank Securities Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC (See Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ---------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 46 OWNED BY ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ---------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 46 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON BK - -------------------------------------------------------------------------------- ITEM 1. SECURITY AND ISSUER This statement on Schedule 13D (this "Statement") relates to shares of common stock, par value $0.001 per share (the "Shares"), of Glenborough Realty Trust Incorporated (the "Issuer"). The Issuer has its principal executive offices at 400 South El Camino Road, Suite 1100, San Mateo, California 94402. ITEM 2. IDENTITY AND BACKGROUND (a) This Statement is being filed by Deutsche Bank Securities Inc. ("DBSI") and Deutsche Bank AG ("Deutsche Bank", together with DBSI, the "Reporting Persons" and each, a "Reporting Person"). A joint filing agreement has been filed as Exhibit 1 to this Statement pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). DBSI is a corporation organized under the laws of Delaware, and is a wholly-owned subsidiary of DB US Financial Markets Holding Corporation ("DBUSFM"). DBUSFM is a wholly-owned subsidiary of Deutsche Bank Americas Holding Corporation, a wholly-owned subsidiary of Taunus Corporation, which in turn is a wholly-owned subsidiary of Deutsche Bank. Deutsche Bank is organized under the laws of the Federal Republic of Germany. The securities acquired by Deutsche Bank covered by this Statement were acquired through the London Branch of Deutsche Bank, which is licensed by the United Kingdom banking authority. (b) The address of the principal place of business of Deutsche Bank is Taunusanlage 12, 60325 Frankfurt, Federal Republic of Germany. The address of the principal office of DBSI is 60 Wall Street, New York, New York 10005. (c) and (f) The principal business of the Reporting Persons and the name, business address, principal occupation or employment and citizenship of each of the executive officers, directors, controlling persons and trustees, as applicable of each of the Reporting Persons and each corporation and other person ultimately in control of the Reporting Persons are set forth on Schedule 1 to this Statement which is incorporated herein. Set forth on Schedule 1 to this Statement, and incorporated herein by reference, is a list of the executive officers and directors of each of Deutsche Bank and DBSI that contain the following information with respect to each such person: (i) name; (ii) business address; (iii) present principal occupation or employment and the name and business address of each corporation or organization in which each such employment is conducted; and (iv) citizenship. (d) and (e) During the last five years, none of the Reporting Persons and, to the best knowledge of the Reporting Persons, none of the persons named on Schedule 1 to this Statement has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The source of the funds for the purchase of the Shares was working capital of the Reporting Persons. ITEM 4. PURPOSE OF TRANSACTION All of the Shares reported herein as having been acquired or disposed of were from the accounts of Deutsche Bank AG, London Branch and DBSI and were acquired or disposed of as part of their proprietary trading activities or in order to hedge its exposure to certain derivative contracts entered into with its clients. The Reporting Persons qualify as institutions that may file securities ownership reports required by the Securities Exchange Act on Schedule 13G. The Issuer entered into an Agreement and Plan of Merger, dated as of August 20, 2006, by and between the Issuer and Gridiron Acquisition LLC. Subsequent to the announcement of the merger, Deutsche Bank acquired Shares held in an arbitrage account. As a result, under interpretations of the Staff of the Securities and Exchange Commission, Deutsche Bank may be deemed to have purchased the Shares with the purpose of, or with the effect of, changing or influencing control of the Issuer, in connection with the proposed merger. The Reporting Persons reserve the right to acquire, or cause to be acquired, additional securities of the Issuer or derivatives or other instruments related thereto, to dispose of, or cause to be disposed, such securities, derivatives or other instruments at any time and to formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment and trading policies of the Reporting Persons, market conditions or other factors. Except as set forth herein, the Reporting Persons do not have any plans or proposals at this time that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a), (b) According to information filed by the Issuer with the Securities and Exchange Commission in its Form 10-Q for the quarter ended September 30, 2006, the number of Shares outstanding was 32,327,957 as of November 3, 2006. The Reporting Persons may be deemed the beneficial owner of 1,884,366 Shares (approximately 5.8% of the total number of Shares outstanding). Please see language from Aztar and use it here re beneficial ownership of DBSI shares. Deutsche Bank AG, London Branch 1,731,766 Deutsche Bank AG, London Branch (arbitrage) 152,600 Deutsche Bank Securities Inc. 46 (c) Transactions by the Reporting Persons in the Shares effected during the past sixty days are set forth in Schedule 2 to this Schedule 13D, which is incorporated by reference herein. The transactions set forth in Schedule 2 to this Statement were effected on the New York Stock Exchange and/or the OTC market. (d) Not applicable. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER From time to time, the Reporting Persons may lend, pledge or enter into repurchase transactions relating to portfolio securities, including the Shares, to and with brokers, banks or other financial institutions. From time to time, to the extent permitted by applicable laws, the Reporting Persons may borrow securities, including the Shares, for the purpose of effecting, and may effect, short sale transactions, and may purchase securities for the purpose of closing out short positions in such securities. Except as set forth above, the Reporting Persons do not have any contracts, arrangements, understandings or relationships with respect to any securities of the Issuer. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Attached as Exhibit 1 to this Statement is the Joint Filing Agreement dated November 21, 2006, between Deutsche Bank and DBSI. SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct. DATE: NOVEMBER 21, 2006 DEUTSCHE BANK AG By: /s/ Jeffrey A. Ruiz -------------------------- Name: Jeffrey A. Ruiz Title: Vice President DEUTSCHE BANK AG By: /s/ Pasquale Antolino -------------------------- Name: Pasquale Antolino Title: Associate DEUTSCHE BANK SECURITIES INC. By: /s/ Margaret Adams -------------------------- Name: Margaret Adams Title: Director DEUTSCHE BANK SECURITIES INC. By: /s/ Jeffrey A. Ruiz -------------------------- Name: Jeffrey A. Ruiz Title: Vice President SCHEDULE 1 EXECUTIVE OFFICERS, DIRECTORS, CONTROLLING PERSONS AND TRUSTEES OF DEUTSCHE BANK AG AND EACH PERSON ULTIMATELY IN CONTROL OF DEUTSCHE BANK AG Deutsche Bank AG is organized under the laws of the Federal Republic of Germany. The principal business of Deutsche Bank AG is the provision of financial and related services. Deutsche Bank AG is the largest banking institution in the Federal Republic of Germany and is the parent company of a group consisting of banks, capital market and fund management companies, mortgage banks and property finance companies, installment financing and leasing companies, insurance companies, research and consultancy companies and other companies. Deutsche Bank AG is organized under the laws of the Federal Republic of Germany, and the address of its principal place of business is Taunusanlage 12, 60325 Frankfurt, Federal Republic of Germany. - -------------------------------------------------------------------------------- NAME PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT / BUSINESS ADDRESS/CITIZENSHIP - -------------------------------------------------------------------------------- Dr. Josef Ackermann Chairman of the Group Executive Committee and Member of the Board of Managing Directors, Deutsche Bank AG Deutsche Bank AG Taunusanlage 12 60325 Frankfurt The Federal Republic of Germany Citizenship: Swiss - -------------------------------------------------------------------------------- Dr. Tessen von Heydebreck Member of the Board of Managing Directors, Deutsche Bank AG Deutsche Bank AG Taunusanlage 12 60325 Frankfurt The Federal Republic of Germany Citizenship: German - -------------------------------------------------------------------------------- Dr. Hermann-Josef Lamberti Member of the Board of Managing Directors, Deutsche Bank AG Deutsche Bank AG Taunusanlage 12 60325 Frankfurt The Federal Republic of Germany Citizenship: German - -------------------------------------------------------------------------------- Dr. Clemens Borsig Member of the Board of Managing Directors, Deutsche Bank AG Deutsche Bank AG Taunusanlage 12 60325 Frankfurt The Federal Republic of Germany Citizenship: German - -------------------------------------------------------------------------------- EXECUTIVE OFFICERS, DIRECTORS, CONTROLLING PERSONS AND TRUSTEES OF DEUTSCHE BANK SECURITIES INC. Deutsche Bank Securities Inc. (DBSI) is registered with the SEC as a broker-dealer and is a member of the NASD, SIPC, NYSE, and a number of other securities self-regulatory organizations. In addition, DBSI is registered with the CFTC as a futures commission merchant and is a member of the NFA, CME, and several other futures self-regulatory organizations. DBSI is headquartered in New York City and offers a full range of broker-dealer services, including sales and trading expertise in equity and fixed income securities, derivatives and structured products, portfolio trading, prime brokerage services, and research. DBSI also assists investment banking clients with public and private offerings in the equity and debt capital markets, and provides advisory services in strategic areas such as mergers, acquisitions, and corporate restructurings. - -------------------------------------------------------------------------------- NAME PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT / BUSINESS ADDRESS/CITIZENSHIP - -------------------------------------------------------------------------------- Mr. Seth Waugh Member of the Board of Directors, Chairman, Deutsche Bank Securities Inc. 60 Wall Street New York, New York, 10005 Citizenship: US - -------------------------------------------------------------------------------- Mr. Stuart Clarke Member of the Board of Directors, Deutsche Bank Securities Inc. 60 Wall Street New York, New York, 10005 Citizenship: UK-British - -------------------------------------------------------------------------------- Mr. Thomas Gahan Member of the Board of Directors, Deutsche Bank Securities Inc. 60 Wall Street New York, New York, 10005 Citizenship: US - -------------------------------------------------------------------------------- Mr. Robert Karofsky Member of the Board of Directors, Deutsche Bank Securities Inc. 60 Wall Street New York, New York, 10005 Citizenship: US - -------------------------------------------------------------------------------- Mr. Marc Pfeffer Member of the Board of Directors, Deutsche Bank Securities Inc. 60 Wall Street New York, New York, 10005 Citizenship: US - -------------------------------------------------------------------------------- Mr. Philip Weingord Member of the Board of Directors, Deutsche Bank Securities Inc. 60 Wall Street New York, New York, 10005 Citizenship: US - -------------------------------------------------------------------------------- SCHEDULE 2 - 60 DAY TRADE HISTORY Date Buy/Sell Amount Price - -------------------------------------------------------------------------------- 09/15/06 S 6,100 26.06 - -------------------------------------------------------------------------------- 09/18/06 B 9,200 26.00 - -------------------------------------------------------------------------------- 09/18/06 S 400 25.94 - -------------------------------------------------------------------------------- 09/18/06 B 7,800 25.99 - -------------------------------------------------------------------------------- 09/18/06 S 2,100 26.02 - -------------------------------------------------------------------------------- 09/19/06 S 200 25.97 - -------------------------------------------------------------------------------- 09/19/06 B 19,300 26.02 - -------------------------------------------------------------------------------- 09/19/06 S 500 25.97 - -------------------------------------------------------------------------------- 09/20/06 B 500 26.02 - -------------------------------------------------------------------------------- 09/20/06 S 100 26.00 - -------------------------------------------------------------------------------- 09/20/06 B 800 26.04 - -------------------------------------------------------------------------------- 09/20/06 S 1,800 26.02 - -------------------------------------------------------------------------------- 09/21/06 B 400 25.98 - -------------------------------------------------------------------------------- 09/21/06 B 800 25.98 - -------------------------------------------------------------------------------- 09/21/06 S 2,900 25.95 - -------------------------------------------------------------------------------- 09/22/06 B 100 26.03 - -------------------------------------------------------------------------------- 09/22/06 S 400 25.96 - -------------------------------------------------------------------------------- 09/22/06 B 24,500 26.00 - -------------------------------------------------------------------------------- 09/25/06 B 200 26.12 - -------------------------------------------------------------------------------- 09/25/06 S 100 26.05 - -------------------------------------------------------------------------------- 09/25/06 B 3,700 26.24 - -------------------------------------------------------------------------------- 09/25/06 S 1,300 26.05 - -------------------------------------------------------------------------------- 09/25/06 B 200,000 26.27 - -------------------------------------------------------------------------------- 09/26/06 B 500 26.20 - -------------------------------------------------------------------------------- 09/26/06 B 6,700 26.21 - -------------------------------------------------------------------------------- 09/26/06 S 3,100 26.23 - -------------------------------------------------------------------------------- 09/27/06 B 4,400 25.91 - -------------------------------------------------------------------------------- 09/27/06 B 19,700 25.91 - -------------------------------------------------------------------------------- 09/28/06 B 900 25.90 - -------------------------------------------------------------------------------- 09/28/06 S 851 25.82 - -------------------------------------------------------------------------------- 09/28/06 B 2,400 25.86 - -------------------------------------------------------------------------------- 09/28/06 S 3,800 25.84 - -------------------------------------------------------------------------------- 09/29/06 B 851 25.76 - -------------------------------------------------------------------------------- 09/29/06 B 700 25.78 - -------------------------------------------------------------------------------- 09/29/06 S 9,100 25.77 - -------------------------------------------------------------------------------- 10/02/06 B 16,800 25.81 - -------------------------------------------------------------------------------- 10/02/06 B 100 25.81 - -------------------------------------------------------------------------------- 10/02/06 S 1,900 25.75 - -------------------------------------------------------------------------------- 10/02/06 B 13,500 25.83 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 10/02/06 S 10,400 25.77 - -------------------------------------------------------------------------------- 10/03/06 B 300 25.83 - -------------------------------------------------------------------------------- 10/03/06 S 800 25.80 - -------------------------------------------------------------------------------- 10/03/06 B 1,600 25.83 - -------------------------------------------------------------------------------- 10/03/06 S 8,100 25.78 - -------------------------------------------------------------------------------- 10/04/06 B 1,100 25.81 - -------------------------------------------------------------------------------- 10/04/06 S 100 25.79 - -------------------------------------------------------------------------------- 10/04/06 B 4,500 25.81 - -------------------------------------------------------------------------------- 10/04/06 S 3,300 25.79 - -------------------------------------------------------------------------------- 10/05/06 B 2,300 25.80 - -------------------------------------------------------------------------------- 10/05/06 B 800 25.79 - -------------------------------------------------------------------------------- 10/05/06 S 1,800 25.79 - -------------------------------------------------------------------------------- 10/06/06 B 300 25.80 - -------------------------------------------------------------------------------- 10/06/06 B 1,300 25.79 - -------------------------------------------------------------------------------- 10/06/06 S 200 25.80 - -------------------------------------------------------------------------------- 10/09/06 B 900 25.85 - -------------------------------------------------------------------------------- 10/09/06 B 10,500 25.83 - -------------------------------------------------------------------------------- 10/09/06 S 1,200 25.80 - -------------------------------------------------------------------------------- 10/10/06 B 400 25.88 - -------------------------------------------------------------------------------- 10/10/06 S 600 25.84 - -------------------------------------------------------------------------------- 10/10/06 S 15,900 25.83 - -------------------------------------------------------------------------------- 10/11/06 B 100 25.88 - -------------------------------------------------------------------------------- 10/11/06 S 200 25.86 - -------------------------------------------------------------------------------- 10/11/06 S 18,200 25.86 - -------------------------------------------------------------------------------- 10/12/06 B 1,500 25.89 - -------------------------------------------------------------------------------- 10/12/06 S 4,500 25.92 - -------------------------------------------------------------------------------- 10/13/06 B 3,000 25.97 - -------------------------------------------------------------------------------- 10/13/06 B 1,800 25.99 - -------------------------------------------------------------------------------- 10/13/06 S 5,500 25.98 - -------------------------------------------------------------------------------- 10/16/06 B 3,600 25.99 - -------------------------------------------------------------------------------- 10/16/06 S 9,200 25.96 - -------------------------------------------------------------------------------- 10/17/06 B 100 25.99 - -------------------------------------------------------------------------------- 10/17/06 S 400 25.97 - -------------------------------------------------------------------------------- 10/17/06 B 700 26.00 - -------------------------------------------------------------------------------- 10/17/06 S 3,100 25.98 - -------------------------------------------------------------------------------- 10/19/06 B 3,400 26.00 - -------------------------------------------------------------------------------- 10/19/06 B 4,600 25.98 - -------------------------------------------------------------------------------- 10/19/06 S 100 25.96 - -------------------------------------------------------------------------------- 10/19/06 S 17,900 25.93 - -------------------------------------------------------------------------------- 10/19/06 B 800 25.98 - -------------------------------------------------------------------------------- 10/19/06 S 10,200 25.95 - -------------------------------------------------------------------------------- 10/20/06 B 300 25.96 - -------------------------------------------------------------------------------- 10/20/06 S 300 25.96 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 10/20/06 S 17,200 25.94 - -------------------------------------------------------------------------------- 10/23/06 B 1,800 25.97 - -------------------------------------------------------------------------------- 10/23/06 S 700 25.93 - -------------------------------------------------------------------------------- 10/23/06 S 13,200 25.96 - -------------------------------------------------------------------------------- 10/24/06 B 3,680 26.00 - -------------------------------------------------------------------------------- 10/24/06 B 500 25.98 - -------------------------------------------------------------------------------- 10/24/06 S 700 25.97 - -------------------------------------------------------------------------------- 10/24/06 B 200 25.98 - -------------------------------------------------------------------------------- 10/24/06 S 14,200 25.97 - -------------------------------------------------------------------------------- 10/25/06 B 1,200 25.98 - -------------------------------------------------------------------------------- 10/25/06 S 700 25.95 - -------------------------------------------------------------------------------- 10/25/06 B 800 25.98 - -------------------------------------------------------------------------------- 10/25/06 S 20,900 25.97 - -------------------------------------------------------------------------------- 10/26/06 B 1,100 26.00 - -------------------------------------------------------------------------------- 10/26/06 S 100 25.97 - -------------------------------------------------------------------------------- 10/26/06 S 5,700 25.98 - -------------------------------------------------------------------------------- 10/27/06 S 400 25.97 - -------------------------------------------------------------------------------- 10/27/06 S 3,700 25.98 - -------------------------------------------------------------------------------- 10/30/06 B 100 26.03 - -------------------------------------------------------------------------------- 10/30/06 B 100 26.02 - -------------------------------------------------------------------------------- 10/30/06 S 124 26.03 - -------------------------------------------------------------------------------- 10/30/06 S 300 26.01 - -------------------------------------------------------------------------------- 10/30/06 B 1,500 26.00 - -------------------------------------------------------------------------------- 10/30/06 S 6,100 25.99 - -------------------------------------------------------------------------------- 10/31/06 B 300 26.011 - -------------------------------------------------------------------------------- 10/31/06 S 956 25.97 - -------------------------------------------------------------------------------- 10/31/06 B 900 25.98 - -------------------------------------------------------------------------------- 10/31/06 S 13,200 25.97 - -------------------------------------------------------------------------------- 11/01/06 S 500 25.98 - -------------------------------------------------------------------------------- 11/01/06 B 1,300 26.00 - -------------------------------------------------------------------------------- 11/01/06 S 13,200 25.97 - -------------------------------------------------------------------------------- 11/02/06 B 498,300 26.01 - -------------------------------------------------------------------------------- 11/02/06 B 250,000 26.01 - -------------------------------------------------------------------------------- 11/02/06 S 1,000 25.98 - -------------------------------------------------------------------------------- 11/02/06 B 3,400 26.01 - -------------------------------------------------------------------------------- 11/02/06 S 6,900 25.98 - -------------------------------------------------------------------------------- 11/03/06 B 500 26.03 - -------------------------------------------------------------------------------- 11/03/06 S 800 25.98 - -------------------------------------------------------------------------------- 11/03/06 B 300,000 25.99 - -------------------------------------------------------------------------------- 11/03/06 B 300,000 25.99 - -------------------------------------------------------------------------------- 11/03/06 B 3,300 25.99 - -------------------------------------------------------------------------------- 11/03/06 S 9,100 25.98 - -------------------------------------------------------------------------------- 11/06/06 B 46,900 26.05 - -------------------------------------------------------------------------------- 11/06/06 B 400 26.05 - -------------------------------------------------------------------------------- 11/06/06 S 400 26.03 - -------------------------------------------------------------------------------- 11/06/06 B 8,400 26.04 - -------------------------------------------------------------------------------- 11/0606 S 200 26.04 - -------------------------------------------------------------------------------- 11/07/06 B 20,000 26.00 - -------------------------------------------------------------------------------- 11/07/06 B 2,100 26.06 - -------------------------------------------------------------------------------- 11/07/06 S 100 26.03 - -------------------------------------------------------------------------------- 11/07/06 S 4,095 26.04 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 11/08/06 B 1,307 26.05 - -------------------------------------------------------------------------------- 11/08/06 B 7,200 26.13 - -------------------------------------------------------------------------------- 11/08/06 B 300 26.07 - -------------------------------------------------------------------------------- 11/08/06 S 200 26.00 - -------------------------------------------------------------------------------- 11/08/06 S 4,095 26.04 - -------------------------------------------------------------------------------- 11/08/06 B 4,095 26.04 - -------------------------------------------------------------------------------- 11/08/06 S 1,800 26.03 - -------------------------------------------------------------------------------- 11/09/06 B 300 26.09 - -------------------------------------------------------------------------------- 11/09/06 S 200 26.04 - -------------------------------------------------------------------------------- 11/09/06 S 1,900 26.05 - -------------------------------------------------------------------------------- 11/10/06 B 1,000 26.07 - -------------------------------------------------------------------------------- 11/10/06 S 900 26.04 - -------------------------------------------------------------------------------- 11/13/06 B 100 26.05 - -------------------------------------------------------------------------------- 11/13/06 S 10,200 26.05 - -------------------------------------------------------------------------------- 11/14/06 B 5,200 26.13 - -------------------------------------------------------------------------------- 11/14/06 S 300 26.08 - -------------------------------------------------------------------------------- 11/15/06 B 1,840 26.15 - -------------------------------------------------------------------------------- 11/15/06 B 7,300 26.12 - -------------------------------------------------------------------------------- 11/15/06 S 19,900 26.10 - -------------------------------------------------------------------------------- EXHIBIT 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the persons named below agrees to the joint filing of a Statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, of Glenborough Realty Trust Corporation, and further agrees that this Joint Filing Agreement be included as an exhibit to such filings provided that, as contemplated by Section 13d-1(k)(ii), no person shall be responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. This Joint Filing Agreement may be executed in any number of counterparts, all of which together shall constitute one and the same instrument. Dated: November 21, 2006. DEUTSCHE BANK AG By: /s/ Jeffrey A. Ruiz -------------------------- Name: Jeffrey A. Ruiz Title: Vice President DEUTSCHE BANK AG By: /s/ Pasquale Antolino -------------------------- Name: Pasquale Antolino Title: Associate DEUTSCHE BANK SECURITIES INC. By: /s/ Margaret Adams -------------------------- Name: Margaret Adams Title: Director DEUTSCHE BANK SECURITIES INC. By: /s/ Jeffrey A. Ruiz -------------------------- Name: Jeffrey A. Ruiz Title: Vice President -----END PRIVACY-ENHANCED MESSAGE-----