The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN CAMPUS CMNTYS INC COM 024835100 2,918 55,200 SH   SOLE 0 55,200 0 0
AMERICAN TOWER CORP NEW COM 03027X100 3,885 34,200 SH   SOLE 0 34,200 0 0
AVALONBAY CMNTYS INC COM 053484101 5,394 29,900 SH   SOLE 0 29,900 0 0
CBL & ASSOC PPTYS INC COM 124830100 2,860 307,169 SH   SOLE 0 307,169 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 4,199 72,629 SH   SOLE 0 72,629 0 0
CYRUSONE INC COM 23283R100 8,811 158,300 SH   SOLE 0 158,300 0 0
FELCOR LODGING TR INC COM 31430F101 32,499 5,216,554 SH   SOLE 0 5,216,554 0 0
FIRST POTOMAC RLTY TR COM 33610F109 4,217 458,411 SH   SOLE 0 458,411 0 0
MACK CALI RLTY CORP COM 554489104 23,390 866,300 SH   SOLE 0 866,300 0 0
MARRIOTT INTL INC NEW CL A 571903202 7,836 117,900 SH   SOLE 0 117,900 0 0
MGM RESORTS INTERNATIONAL COM 552953101 29,692 1,312,049 SH   SOLE 0 1,312,049 0 0
NEW YORK REIT INC COM 64976L109 9,578 1,035,448 SH   SOLE 0 1,035,448 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 17,611 1,724,919 SH   SOLE 0 1,724,919 0 0
QTS RLTY TR INC COM CL A 74736A103 11,606 207,330 SH   SOLE 0 207,330 0 0
RETAIL PPTYS AMER INC CL A 76131V202 3,093 183,015 SH   SOLE 0 183,015 0 0
SL GREEN RLTY CORP COM 78440X101 3,885 36,491 SH   SOLE 0 36,491 0 0
TAUBMAN CTRS INC COM 876664103 10,470 141,100 SH   SOLE 0 141,100 0 0
VEREIT INC COM 92339V100 2,924 288,400 SH   SOLE 0 288,400 0 0