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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 22,676 147,206 SH   SOLE   147,206 0 0
AMERICAN ASSETS TR INC COM 024013104 8,341 178,455 SH   SOLE   178,455 0 0
AMERICOLD RLTY TR COM 03064D108 35,223 950,172 SH   SOLE   950,172 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 25,072 480,850 SH   SOLE   480,850 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 3,045 204,339 SH   SOLE   204,339 0 0
BOYD GAMING CORP COM 103304101 9,580 400,000 SH Call SOLE   400,000 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 31,065 2,050,523 SH   SOLE   2,050,523 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 3,111 303,503 SH   SOLE   303,503 0 0
ELDORADO RESORTS INC COM 28470R102 9,742 244,352 SH   SOLE   244,352 0 0
ESSEX PPTY TR INC COM 297178105 21,061 64,475 SH   SOLE   64,475 0 0
EXTRA SPACE STORAGE INC COM 30225T102 5,864 50,198 SH   SOLE   50,198 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 31,734 802,177 SH   SOLE   802,177 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 16,046 567,396 SH   SOLE   567,396 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 17,042 445,669 SH   SOLE   445,669 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 18,524 462,183 SH   SOLE   462,183 0 0
HCP INC COM 40414L109 16,869 473,442 SH   SOLE   473,442 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 6,685 227,537 SH   SOLE   227,537 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 8,087 86,857 SH   SOLE   86,857 0 0
HOVNANIAN ENTERPRISES INC CL A NEW 442487401 2,422 125,830 SH   SOLE   125,830 0 0
HUDSON PAC PPTYS INC COM 444097109 31,338 936,580 SH   SOLE   936,580 0 0
INTERXION HOLDING N.V SHS N47279109 13,489 165,587 SH   SOLE   165,587 0 0
INVITATION HOMES INC COM 46187W107 13,720 463,362 SH   SOLE   463,362 0 0
JBG SMITH PPTYS COM 46590V100 10,105 257,712 SH   SOLE   257,712 0 0
KB HOME COM 48666K109 7,591 223,254 SH   SOLE   223,254 0 0
M D C HLDGS INC COM 552676108 4,784 111,000 SH   SOLE   111,000 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 17,086 873,503 SH   SOLE   873,503 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 5,029 167,358 SH   SOLE   167,358 0 0
MGM RESORTS INTERNATIONAL COM 552953101 5,544 200,000 SH Call SOLE   200,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 11,527 415,837 SH   SOLE   415,837 0 0
OWENS CORNING NEW COM 690742101 18,960 300,000 SH Call SOLE   300,000 0 0
POSTAL REALTY TRUST INC CL A 73757R102 6,218 392,539 SH   SOLE   392,539 0 0
QTS RLTY TR INC COM CL A 74736A103 23,013 447,644 SH   SOLE   447,644 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 9,767 90,159 SH   SOLE   90,159 0 0
RPT REALTY SH BEN INT 74971D101 14,805 1,092,631 SH   SOLE   1,092,631 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 29,677 100,000 SH Put SOLE   100,000 0 0
STARWOOD PPTY TR INC COM 85571B105 14,121 583,013 SH   SOLE   583,013 0 0
SUN CMNTYS INC COM 866674104 14,049 94,636 SH   SOLE   94,636 0 0
TOLL BROTHERS INC COM 889478103 8,210 200,000 SH Call SOLE   200,000 0 0
TRINITY MERGER CORP *W EXP 05/11/202 89653L114 76 59,700 SH   SOLE   59,700 0 0
TRINITY MERGER CORP COM CL A 89653L106 15,838 1,518,509 SH   SOLE   1,518,509 0 0
UNITED RENTALS INC COM 911363109 3,280 26,319 SH   SOLE   26,319 0 0
URBAN EDGE PPTYS COM 91704F104 5,504 278,141 SH   SOLE   278,141 0 0
VEREIT INC COM 92339V100 16,248 1,661,305 SH   SOLE   1,661,305 0 0
VORNADO RLTY TR SH BEN INT 929042109 12,699 199,447 SH   SOLE   199,447 0 0
VULCAN MATLS CO COM 929160109 5,484 36,260 SH   SOLE   36,260 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 21,495 737,911 SH   SOLE   737,911 0 0
WYNN RESORTS LTD COM 983134107 7,176 66,000 SH   SOLE   66,000 0 0
WYNN RESORTS LTD COM 983134107 8,698 80,000 SH Call SOLE   80,000 0 0