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
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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
InterXion Holding NV SHS N47279109 3,660 54,855 SH   DFND 1,2,6 54,855 0 0
Acadia Realty Trust COM SH BEN INT 004239109 39,535 1,449,774 SH   DFND 1,2,3,4 1,357,164 0 92,610
Agree Realty Corp COM 008492100 24,840 358,239 SH   DFND 1,2,3,5 253,166 0 105,073
Alexandria Real Estate Equities Inc COM 015271109 28,888 202,634 SH   DFND 1,2,4 202,634 0 0
American Campus Communities Inc COM 024835100 36,375 764,506 SH   DFND 1,2,3,5 636,743 0 127,763
Apartment Investment & Management Co CL A 03748R754 46,605 926,733 SH   DFND 1,2,3,5,6 829,512 0 97,221
Apartment Investment & Management Co PFD CL A 6.875% 03748R762 6,272 245,670 SH   DFND 1,2 195,070 0 50,600
AvalonBay Communities Inc COM 053484101 127,625 635,805 SH   DFND 1,2,3,4,5,6 574,289 0 61,516
Boston Properties Inc COM 101121101 97,122 725,444 SH   DFND 1,2,3,4,5,6 664,818 0 60,626
Brookfield Property REIT Inc CL A 11282X103 29,500 1,439,729 SH   DFND 1,2,4 1,439,729 0 0
CareTrust REIT Inc COM 14174T107 38,226 1,629,400 SH   DFND 1,2,3,5,6 1,470,000 0 159,400
Chesapeake Lodging Trust SH BEN INT 165240102 27,213 978,547 SH   DFND 1,2 978,547 0 0
Cousins Properties Inc COM 222795106 34,812 3,603,693 SH   DFND 1,2,3,5,6 3,164,870 0 438,823
CubeSmart COM 229663109 34,477 1,076,070 SH   DFND 1,2,3,5,6 974,130 0 101,940
CyrusOne Inc COM 23283R100 34,082 649,915 SH   DFND 1,2,3,5,6 563,691 0 86,224
Digital Realty Trust Inc COM 253868103 19,052 160,097 SH   DFND 1,2,3,5,6 138,301 0 21,796
Douglas Emmett Inc COM 25960P109 28,774 711,881 SH   DFND 1,2 711,881 0 0
Duke Realty Corp COM NEW 264411505 54,881 1,794,659 SH   DFND 1,2,3,5,6 1,565,489 0 229,170
Empire State Realty Trust Inc CL A 292104106 61,356 3,883,294 SH   DFND 1,2,3,4,5,6 3,656,150 0 227,144
Equinix Inc COM 29444U700 81,996 180,942 SH   DFND 1,2,3,4,5,6 152,331 0 28,611
Equity Residential SH BEN INT 29476L107 112,494 1,493,546 SH   DFND 1,2,3,4,5,6 1,369,364 0 124,182
Essential Properties Realty Trust Inc COM 29670E107 15,357 786,727 SH   DFND 1,2,3,5 549,415 0 237,312
Essex Property Trust Inc COM 297178105 28,646 99,039 SH   DFND 1,2 99,039 0 0
Extra Space Storage Inc COM 30225T102 47,411 465,229 SH   DFND 1,2,3,5,6 415,411 0 49,818
Federal Realty Investment Trust SH BEN INT NEW 313747206 29,089 211,020 SH   DFND 1,2,4 211,020 0 0
Four Corners Property Trust Inc COM 35086T109 20,164 681,220 SH   DFND 1,2,3,5 515,167 0 166,053
HCP Inc COM 40414L109 41,415 1,323,168 SH   DFND 1,2,3,5 1,084,212 0 238,956
Host Hotels & Resorts Inc COM 44107P104 57,648 3,050,165 SH   DFND 1,2,3,5,6 2,629,064 0 421,101
Hudson Pacific Properties Inc COM 444097109 69,598 2,022,015 SH   DFND 1,2,3,4,5,6 1,884,074 0 137,941
Invitation Homes Inc COM 46187W107 65,099 2,675,651 SH   DFND 1,2,3,5,6 2,387,760 0 287,891
Kilroy Realty Corp COM 49427F108 27,843 366,542 SH   DFND 1,2,3,4,5 306,482 0 60,060
Liberty Property Trust SH BEN INT 531172104 20,533 424,068 SH   DFND 1,2,3,5 342,519 0 81,549
Macerich Co COM 554382101 28,059 647,258 SH   DFND 1,2,3 647,258 0 0
National Retail Properties Inc COM 637417106 11,754 212,202 SH   DFND 1,2,5 206,942 0 5,260
Paramount Group Inc COM 69924R108 27,329 1,925,930 SH   DFND 1,2 1,925,930 0 0
Pebblebrook Hotel Trust COM 70509V100 68,925 2,219,077 SH   DFND 1,2,3,4,5,6 2,053,017 0 166,060
Physicians Realty Trust COM 71943U104 39,942 2,123,428 SH   DFND 1,2,3,5,6 1,858,874 0 264,554
Prologis Inc COM 74340W103 148,265 2,060,674 SH   DFND 1,2,3,4,5,6 1,836,719 0 223,955
Public Storage COM 74460D109 23,866 109,589 SH   DFND 1,2,3,5 89,609 0 19,980
QTS Realty Trust Inc 6.50% CON PFD B 74736A301 8,383 77,181 SH   DFND 1,2 53,441 0 23,740
Regency Centers Corp COM 758849103 63,141 935,565 SH   DFND 1,2,3,5,6 828,165 0 107,400
Rexford Industrial Realty Inc COM 76169C100 28,822 804,868 SH   DFND 1,2,4 804,868 0 0
SL Green Realty Corp COM 78440X101 27,411 304,834 SH   DFND 1,2 304,834 0 0
Sabra Health Care REIT Inc COM 78573L106 15,764 809,639 SH   DFND 1,2,3,5,6 710,550 0 99,089
Simon Property Group Inc COM 828806109 158,910 872,128 SH   DFND 1,2,3,4,5,6 786,691 0 85,437
SITE Centers Corp COM 82981J109 29,658 2,177,519 SH   DFND 1,2,3,5,6 1,946,478 0 231,041
STORE Capital Corp COM 862121100 606 18,100 SH   DFND 1,2,5 18,100 0 0
Taubman Centers Inc COM 876664103 28,238 533,994 SH   DFND 1,2 533,994 0 0
Terreno Realty Corp COM 88146M101 28,442 676,536 SH   DFND 1,2 676,536 0 0
Ventas Inc COM 92276F100 9,236 144,745 SH   DFND 1,2,3 111,476 0 33,269
VICI Properties Inc COM 925652109 33,514 1,531,739 SH   DFND 1,2,3,6 1,158,371 0 373,368
Vornado Realty Trust SH BEN INT 929042109 27,828 412,639 SH   DFND 1,2 412,639 0 0
Washington Real Estate Investment Trust SH BEN INT 939653101 24 830 SH   DFND 1,2,4 830 0 0
Welltower Inc COM 95040Q104 98,755 1,272,612 SH   DFND 1,2,3,5,6 1,120,112 0 152,500