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

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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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 546,070 4,372,405 SH   DFND 1,2,3 4,372,405 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 93,943 2,432,500 SH   DFND 1,2,3 2,432,500 0 0
AMERICOLD RLTY TR COM 03064D108 22,896 1,200,000 SH   DFND 1,2,3 1,200,000 0 0
AVALONBAY CMNTYS INC COM 053484101 567,844 3,452,780 SH   DFND 1,2,3 3,452,780 0 0
BOSTON PROPERTIES INC COM 101121101 807,990 6,557,292 SH   DFND 1,2,3 6,557,292 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 15,880 1,000,000 SH   DFND 1,2,3 1,000,000 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 138,897 9,108,000 SH   DFND 1,2,3 9,108,000 0 0
COUSINS PPTYS INC COM 222795106 35,391 4,077,300 SH   DFND 1,2,3 4,077,300 0 0
CYRUSONE INC COM 23283R100 46,832 914,500 SH   DFND 1,2,3 914,500 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 106,905 1,897,500 SH   DFND 1,2,3 1,897,500 0 0
DDR CORP COM 23317H102 32,974 4,498,500 SH   DFND 1,2,3 4,498,500 0 0
DIGITAL RLTY TR INC COM 253868103 552,844 5,246,196 SH   DFND 1,2,3 5,246,196 0 0
EQUINIX INC COM PAR $0.001 29444U700 49,550 118,500 SH   DFND 1,2,3 118,500 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 98,741 1,125,000 SH   DFND 1,2,3 1,125,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 936,008 15,190,000 SH   DFND 1,2,3 15,190,000 0 0
ESSEX PPTY TR INC COM 297178105 53,070 220,500 SH   DFND 1,2,3 220,500 0 0
EXTRA SPACE STORAGE INC COM 30225T102 129,730 1,485,000 SH   DFND 1,2,3 1,485,000 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 115,820 997,500 SH   DFND 1,2,3 997,500 0 0
GGP INC COM 36174X101 69,605 3,402,000 SH   DFND 1,2,3 3,402,000 0 0
GRAMERCY PPTY TR COM NEW 385002308 56,534 2,601,637 SH   DFND 1,2,3 2,601,637 0 0
HCP INC COM 40414L109 118,949 5,120,500 SH   DFND 1,2,3 5,120,500 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 116,883 4,419,000 SH   DFND 1,2,3 4,419,000 0 0
HIGHWOODS PPTYS INC COM 431284108 85,843 1,959,000 SH   DFND 1,2,3 1,959,000 0 0
HOST HOTELS & RESORTS INC COM 44107P104 251,678 13,502,044 SH   DFND 1,2,3 13,502,044 0 0
INVITATION HOMES INC COM 46187W107 283,195 12,404,500 SH   DFND 1,2,3 12,404,500 0 0
JBG SMITH PPTYS COM 46590V100 129,605 3,844,703 SH   DFND 1,2,3 3,844,703 0 0
KILROY RLTY CORP COM 49427F108 73,813 1,040,205 SH   DFND 1,2,3 1,040,205 0 0
KIMCO RLTY CORP COM 49446R109 121,174 8,414,850 SH   DFND 1,2,3 8,414,850 0 0
LIFE STORAGE INC COM 53223X107 68,383 818,763 SH   DFND 1,2,3 818,763 0 0
MACERICH CO COM 554382101 68,260 1,218,500 SH   DFND 1,2,3 1,218,500 0 0
MID AMER APT CMNTYS INC COM 59522J103 273,127 2,993,500 SH   DFND 1,2,3 2,993,500 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 24,998 636,736 SH   DFND 1,2,3 636,736 0 0
PARK HOTELS RESORTS INC COM 700517105 81,681 3,023,000 SH   DFND 1,2,3 3,023,000 0 0
PROLOGIS INC COM 74340W103 1,189,114 18,877,819 SH   DFND 1,2,3 18,877,819 0 0
PUBLIC STORAGE COM 74460D109 874,707 4,365,023 SH   DFND 1,2,3 4,365,023 0 0
REALTY INCOME CORP COM 756109104 157,233 3,039,500 SH   DFND 1,2,3 3,039,500 0 0
REGENCY CTRS CORP COM 758849103 309,468 5,247,000 SH   DFND 1,2,3 5,247,000 0 0
RLJ LODGING TR COM 74965L101 36,024 1,853,106 SH   DFND 1,2,3 1,853,106 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 82,214 4,658,000 SH   DFND 1,2,3 4,658,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 1,125,249 7,290,240 SH   DFND 1,2,3 7,290,240 0 0
SL GREEN RLTY CORP COM 78440X101 93,199 962,500 SH   DFND 1,2,3 962,500 0 0
STORE CAP CORP COM 862121100 103,536 4,171,460 SH   DFND 1,2,3 4,171,460 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 38,050 2,500,000 SH   DFND 1,2,3 2,500,000 0 0
TAUBMAN CTRS INC COM 876664103 152,234 2,675,000 SH   DFND 1,2,3 2,675,000 0 0
TERRENO RLTY CORP COM 88146M101 61,514 1,782,500 SH   DFND 1,2,3 1,782,500 0 0
TIER REIT INC COM NEW 88650V208 19,034 1,030,000 SH   DFND 1,2,3 1,030,000 0 0
VENTAS INC COM 92276F100 858,680 17,336,563 SH   DFND 1,2,3 17,336,563 0 0
VEREIT INC COM 92339V100 21,026 3,020,908 SH   DFND 1,2,3 3,020,908 0 0
VORNADO RLTY TR SH BEN INT 929042109 347,901 5,169,407 SH   DFND 1,2,3 5,169,407 0 0
XENIA HOTELS & RESORTS INC COM 984017103 29,488 1,495,326 SH   DFND 1,2,3 1,495,326 0 0