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  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-05-13T17:34:57-07:00</Timestamp>
    <TaxPeriodEndDate>2012-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>Comyns Smith McCleary &amp; Deaver LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>3470 Mt Diablo Blvd A110</AddressLine1>
        <City>Lafayette</City>
        <State>CA</State>
        <ZIPCode>94549</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990EZ</ReturnType>
    <TaxPeriodBeginDate>2012-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>201857252</EIN>
      <Name>
        <BusinessNameLine1>SFERS Real Estate Corp LL</BusinessNameLine1>
      </Name>
      <NameControl>SFER</NameControl>
      <Phone>4157813300</Phone>
      <USAddress>
        <AddressLine1>101 California St 26th Floor</AddressLine1>
        <City>San Francisco</City>
        <State>CA</State>
        <ZIPCode>94111</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>Marlena Casellini</Name>
      <Title>CFO</Title>
      <DateSigned>2013-05-08</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>Andrew M Porter</Name>
      <PTIN>P00000544</PTIN>
      <Phone>9252991040</Phone>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="2">
    <IRS990EZ documentId="IRS990EZ" referenceDocumentId="IRS990ScheduleO TransfersPersonalBenefitsContr 8453SignatureDocument.1" softwareId="12000229" softwareVersion="2012v2.0">
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <ScheduleBNotRequired>X</ScheduleBNotRequired>
      <WebSite>N/A</WebSite>
      <Organization501c typeOf501cOrganization="25">X</Organization501c>
      <GrossReceiptsLessThan25000>X</GrossReceiptsLessThan25000>
      <CostOtherBasisAndSalesExpenses>0</CostOtherBasisAndSalesExpenses>
      <FundraisingGrossIncome>0</FundraisingGrossIncome>
      <SpecialEventsDirectExpenses>0</SpecialEventsDirectExpenses>
      <CostOfGoodsSold>0</CostOfGoodsSold>
      <TotalRevenue>0</TotalRevenue>
      <TotalAssets>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </TotalAssets>
      <NetAssetsOrFundBalances>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </NetAssetsOrFundBalances>
      <PrimaryExemptPurpose>Title Holding Corporation For Real Property</PrimaryExemptPurpose>
      <ProgramServiceAccomplishment>
        <DescriptionProgramServiceAccom>Title Holding Corporation for Real Property</DescriptionProgramServiceAccom>
      </ProgramServiceAccomplishment>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName>See Supplemental Information</PersonName>
        <Title>See Supplementa</Title>
        <AvgHoursPerWkDevotedToPosition>0</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <ActivitiesNotPreviouslyRpt>false</ActivitiesNotPreviouslyRpt>
      <MadeChangesToOrgnzngEtcDoc>false</MadeChangesToOrgnzngEtcDoc>
      <OrganizationHadUBI>false</OrganizationHadUBI>
      <OrganizationFiled990T>false</OrganizationFiled990T>
      <SubjectToProxyTax>false</SubjectToProxyTax>
      <OrganizationDissolvedEtc>false</OrganizationDissolvedEtc>
      <DidOrgFileForm1120POLThisYear>false</DidOrgFileForm1120POLThisYear>
      <MadeLoansToFromOfficers>false</MadeLoansToFromOfficers>
      <InitiationFeesAndCapitalContri>0</InitiationFeesAndCapitalContri>
      <GrossReceiptsForPublicUse>0</GrossReceiptsForPublicUse>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TheBooksAreInCareOf>
        <NamePerson>Marlena Casellini</NamePerson>
        <AddressUS>
          <AddressLine1>101 California St</AddressLine1>
          <City>San Francisco</City>
          <State>CA</State>
          <ZIPCode>94111</ZIPCode>
        </AddressUS>
        <TelephoneNumber>4157813300</TelephoneNumber>
      </TheBooksAreInCareOf>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ForeignOffice>false</ForeignOffice>
      <MaintainAnyDonorAdvisedFunds>false</MaintainAnyDonorAdvisedFunds>
      <DoesOrgHaveHospital>false</DoesOrgHaveHospital>
      <TanningServicesProvided>false</TanningServicesProvided>
      <Form720Filed>false</Form720Filed>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionWithControlEntity>false</TransactionWithControlEntity>
      <EngagePoliticalCmpgnActivities>false</EngagePoliticalCmpgnActivities>
      <PartVIOfCompOfHighestPaidEmpl>NONE</PartVIOfCompOfHighestPaidEmpl>
      <PartVIAHghstPaidCntrctProfSer>NONE</PartVIAHghstPaidCntrctProfSer>
    </IRS990EZ>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="12000229" softwareVersion="2012v2.0">
      <GeneralExplanation>
        <Explanation>Client Note 1 - Form 990EZPart IVAs provided in the corporate bylaws of the taxpayer, all officers and directors of the taxpayer serve as such without compensation and, as a result, the taxpayer is precluded from paying any compensation to any of the following officers/directors.OFFICERS AND DIRECTORSDIRECTOR Timothy EllsworthDIRECTOR John F. CampbellOFFICERSPresident Timothy EllsworthVice President &amp; Tresurer Marlena M. CaselliniVice President&amp; AssistantTresurer Aimee E. Samford Vice President John F. Campbell Marc L. Feliciano Andrew R. Harper William T. Henderson Jeffrey C. Kahl James E. Toney Anne-Marie VandenbergSecretary Portia J. GuerinAssistant Secretary Kimberly M. Band</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
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