X0202 4 2006-06-01 0 0001193558 AMERICAN FINANCIAL REALTY TRUST AFR 0001189690 KAHANE WILLIAM M C/O AMERICAN FINANCIAL REALTY TRUST 610 OLD YORK ROAD JENKINTOWN PA 19046 1 0 0 0 Common Shares 2006-06-01 4 A 0 2513 0.001 A 39451 D Consists of restricted common shares awarded as compensation for service as trustee of the Issuer pursuant to the Issuer's 2002 Equity Incentive Plan. These restricted common shares were awarded on June 1, 2006 and will vest 33.33% on each anniversary of the date of issuance. In addition to the 2,513 restricted common shares awarded on June 1, 2006, this amount includes: (i) 20,000 restricted common shares issued on September 29, 2003 pursuant to the Issuer's 2002 Equity Incentive Plan (Plan), which shares vest 33.33% on April 23, 2004, 33.33% on April 23, 2005 and 33.33% on April 23, 2006, and (ii) 1,747 and 1,607 restricted common shares issued on June 9, 2004 and June 15, 2005, respectively, pursuant to the Plan, which shares vest 33.33% on each anniversary of the date of issuance. /s/ Edward J. Matey Jr. By: Edward J. Matey Jr. as attorney-in-fact for William M. Kahane 2006-06-05