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
ACUITY BRANDS INC COM 00508Y102 4,708 40,000 SH   SOLE   40,000 0 0
APOGEE ENTERPRISES INC COM 037598109 8,756 220,000 SH   SOLE   220,000 0 0
BOSTON PROPERTIES INC COM 101121101 10,418 90,000 SH   SOLE   90,000 0 0
BRINKER INTL INC COM 109641100 7,111 140,000 SH   SOLE   140,000 0 0
CAESARSTONE SDOT-YAM LTD ORD SHS M20598104 10,512 203,400 SH   SOLE   203,400 0 0
CBRE GROUP INC CL A 12504L109 5,651 190,000 SH   SOLE   190,000 0 0
CHATHAM LODGING TR COM 16208T102 6,693 290,000 SH   SOLE   290,000 0 0
COLONY FINL INC COM 19624R106 8,372 374,100 SH   SOLE   374,100 0 0
EAGLE MATERIALS INC COM 26969P108 12,729 125,000 SH   SOLE   125,000 0 0
FOREST CITY ENTERPRISES INC CL A 345550107 10,758 550,000 SH   SOLE   550,000 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A104 4,458 181,000 SH   SOLE   181,000 0 0
HOME DEPOT INC COM 437076102 9,174 100,000 SH   SOLE   100,000 0 0
HUDSON PAC PPTYS INC COM 444097109 7,482 303,408 SH   SOLE   303,408 0 0
ISLE OF CAPRI CASINOS INC COM 464592104 1,574 209,800 SH   SOLE   209,800 0 0
JACK IN THE BOX INC COM 466367109 7,160 105,000 SH   SOLE   105,000 0 0
KILROY RLTY CORP COM 49427F108 8,203 138,000 SH   SOLE   138,000 0 0
KIRBY CORP COM 497266106 7,071 60,000 SH   SOLE   60,000 0 0
LA QUINTA HLDGS INC COM 50420D108 4,501 237,000 SH   SOLE   237,000 0 0
LANDSTAR SYS INC COM 515098101 8,085 112,000 SH   SOLE   112,000 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 3,669 55,000 SH   SOLE   55,000 0 0
MACYS INC COM 55616P104 2,848 48,960 SH   SOLE   48,960 0 0
MARTIN MARIETTA MATLS INC COM 573284106 8,170 63,363 SH   SOLE   63,363 0 0
MASTEC INC COM 576323109 2,297 75,000 SH   SOLE   75,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 8,833 387,740 SH   SOLE   387,740 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 1,712 50,000 SH Call SOLE   50,000 0 0
NCI BUILDING SYS INC COM NEW 628852204 5,335 275,000 SH   SOLE   275,000 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 7,913 396,832 SH   SOLE   396,832 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 11,103 165,000 SH   SOLE   165,000 0 0
RYDER SYS INC COM 783549108 10,347 115,000 SH   SOLE   115,000 0 0
SBA COMMUNICATIONS CORP COM 78388J106 6,654 60,000 SH   SOLE   60,000 0 0
SL GREEN RLTY CORP COM 78440X101 5,066 50,000 SH   SOLE   50,000 0 0
SOVRAN SELF STORAGE INC COM 84610H108 3,718 50,000 SH   SOLE   50,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 39,404 200,000 SH Put SOLE   200,000 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 9,840 897,000 SH   SOLE   897,000 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 7,489 90,000 SH   SOLE   90,000 0 0
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 4,434 170,459 SH   SOLE   170,459 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 8,790 636,000 SH   SOLE   636,000 0 0
TAUBMAN CTRS INC COM 876664103 4,745 65,000 SH   SOLE   65,000 0 0
TILE SHOP HLDGS INC COM 88677Q109 1,532 165,645 SH   SOLE   165,645 0 0
U S SILICA HLDGS INC COM 90346E103 10,627 170,000 SH   SOLE   170,000 0 0
UNION PAC CORP COM 907818108 10,908 100,613 SH   SOLE   100,613 0 0
UNITED RENTALS INC COM 911363109 11,110 100,000 SH   SOLE   100,000 0 0
WHOLE FOODS MKT INC COM 966837106 933 24,480 SH   SOLE   24,480 0 0