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
Pacific Premier Bancorp Inc. Common 69478X105 39,510 1,351,225 SH   SOLE   1,351,225 0 0
Camden Property Trust Common 133131102 97,582 725,624 SH   SOLE   725,624 0 0
JBG Smith Properties Common 46590V100 18,794 795,000 SH   SOLE   795,000 0 0
MFA Financial, Inc. Common 55272X102 114,364 10,639,539 SH   SOLE   10,639,539 0 0
LXP Industrial Trust Common 529043101 17,748 1,652,510 SH   SOLE   1,652,510 0 0
SmartRent Inc. Common 83193G107 13,560 3,000,000 SH   SOLE   3,000,000 0 0