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
AMC ENTMT HLDGS INC CL A COM 00165C104 796 35,000 SH   SOLE   35,000 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 18,487 430,238 SH   SOLE   430,238 0 0
AVIS BUDGET GROUP COM 053774105 1,745 64,000 SH   SOLE   64,000 0 0
BOSTON PROPERTIES INC COM 101121101 14,147 115,000 SH   SOLE   115,000 0 0
BROOKDALE SR LIVING INC COM 112463104 17,652 1,200,000 SH   SOLE   1,200,000 0 0
CENTURY CMNTYS INC COM 156504300 2,531 102,064 SH   SOLE   102,064 0 0
COLONY STARWOOD HOMES COM 19625X102 22,988 670,000 SH   SOLE   670,000 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 15,681 700,650 SH   SOLE   700,650 0 0
CUBESMART COM 229663109 4,098 170,479 SH   SOLE   170,479 0 0
D R HORTON INC COM 23331A109 8,643 250,000 SH   SOLE   250,000 0 0
DDR CORP COM 23317H102 8,041 886,535 SH   SOLE   886,535 0 0
EAGLE MATERIALS INC COM 26969P108 3,789 41,000 SH   SOLE   41,000 0 0
EPR PPTYS COM SH BEN INT 26884U109 10,780 150,000 SH   SOLE   150,000 0 0
EQUINIX INC COM PAR $0.001 29444U700 31,560 73,539 SH   SOLE   73,539 0 0
ESSEX PPTY TR INC COM 297178105 17,983 69,900 SH   SOLE   69,900 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 24,490 1,265,000 SH   SOLE   1,265,000 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 32,197 1,125,000 SH   SOLE   1,125,000 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 17,161 710,000 SH   SOLE   710,000 0 0
GGP INC COM 36174X101 11,501 488,171 SH   SOLE   488,171 0 0
GRAMERCY PPTY TR COM NEW 385002308 19,047 641,100 SH   SOLE   641,100 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 13,683 439,834 SH   SOLE   439,834 0 0
HERTZ GLOBAL HLDGS INC COM 42806J106 978 85,000 SH   SOLE   85,000 0 0
HILTON GRAND VACATIONS INC COM 43283X105 9,155 253,873 SH   SOLE   253,873 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 4,954 80,095 SH   SOLE   80,095 0 0
HOME DEPOT INC COM 437076102 14,573 95,000 SH   SOLE   95,000 0 0
HUDSON PAC PPTYS INC COM 444097109 16,641 486,710 SH   SOLE   486,710 0 0
INTERXION HOLDING N.V SHS N47279109 21,831 476,864 SH   SOLE   476,864 0 0
INVITATION HOMES INC COM 46187W107 15,158 700,778 SH   SOLE   700,778 0 0
JELD-WEN HLDG INC COM 47580P103 14,618 450,345 SH   SOLE   450,345 0 0
JONES LANG LASALLE INC COM 48020Q107 7,051 56,406 SH   SOLE   56,406 0 0
LAUREATE EDUCATION INC CL A 518613203 1,753 100,000 SH   SOLE   100,000 0 0
MCDONALDS CORP COM 580135101 11,870 77,500 SH   SOLE   77,500 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 10,579 822,017 SH   SOLE   822,017 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 17,119 586,469 SH   SOLE   586,469 0 0
MGM RESORTS INTERNATIONAL COM 552953101 10,952 350,000 SH   SOLE   350,000 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 15,778 290,625 SH   SOLE   290,625 0 0
PENN NATL GAMING INC COM 707569109 23,156 1,082,055 SH   SOLE   1,082,055 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 6,811 601,650 SH   SOLE   601,650 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 52,991 385,000 SH Put SOLE   385,000 0 0
PRICELINE GRP INC COM NEW 741503403 18,705 10,000 SH   SOLE   10,000 0 0
PROLOGIS INC COM 74340W103 14,660 250,000 SH   SOLE   250,000 0 0
QUALITY CARE PPTYS INC COM 747545101 2,655 145,018 SH   SOLE   145,018 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 8,046 623,700 SH   SOLE   623,700 0 0
RETAIL PPTYS AMER INC CL A 76131V202 12,875 1,054,500 SH   SOLE   1,054,500 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 15,514 115,000 SH   SOLE   115,000 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 13,233 222,000 SH   SOLE   222,000 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 16,673 2,250,123 SH   SOLE   2,250,123 0 0
TOLL BROTHERS INC COM 889478103 10,470 265,000 SH   SOLE   265,000 0 0
VENTAS INC COM 92276F100 3,474 50,000 SH   SOLE   50,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 7,042 75,000 SH   SOLE   75,000 0 0
VULCAN MATLS CO COM 929160109 8,804 69,500 SH   SOLE   69,500 0 0
WYNN RESORTS LTD COM 983134107 18,754 139,830 SH   SOLE   139,830 0 0
ZAYO GROUP HLDGS INC COM 98919V105 7,376 238,702 SH   SOLE   238,702 0 0