-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OB35pAEP/0EmzCZ6p4th4MSdakdxmUxjQGSbmPiCVLazJI+q0bTpRh0DB4OlXaEx XNhtv1KpPqjoZq7mQrR9wQ== 0001033984-06-000004.txt : 20061114 0001033984-06-000004.hdr.sgml : 20061114 20061114173107 ACCESSION NUMBER: 0001033984-06-000004 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060930 FILED AS OF DATE: 20061114 DATE AS OF CHANGE: 20061114 EFFECTIVENESS DATE: 20061114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ING CLARION REAL ESTATE SECURITIES/N L.P. CENTRAL INDEX KEY: 0001033984 IRS NUMBER: 232802869 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-06044 FILM NUMBER: 061217151 BUSINESS ADDRESS: STREET 1: 259 RADNOR CHESTER RD STREET 2: SUITE 205 CITY: RADNOR STATE: PA ZIP: 19087 BUSINESS PHONE: 6109952500 MAIL ADDRESS: STREET 1: 259 NORTH RADNOR CHESTER ROAD STREET 2: SUITE 205 CITY: RADNOR STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: CLARION CRA SECURITIES DATE OF NAME CHANGE: 20000811 FORMER COMPANY: FORMER CONFORMED NAME: CRA REAL ESTATE SECURITIES LP/PA DATE OF NAME CHANGE: 19980227 13F-HR 1 inftable.txt FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Centro Properties Group COM 6037745 129469 21551835 SH SOLE 3562226 30600 17936409 Challenger Diversified Propert COM B1FH0M4 1493 2000000 SH SOLE 2000000 Commonwealth Property Office COM 6150664 63579 60423900 SH SOLE 1841200 58582700 DB RREEF Trust COM B033YN6 135943 113854884SH SOLE 42441641 97900 71245443 FKP Property Group COM 6349699 2108 500000 SH SOLE 500000 GPT Group COM 6365866 299478 85385137 SH SOLE 14972181 113000 70222256 Galileo Shopping America COM B04SF60 65509 71369567 SH SOLE 71369567 Investa Property Group COM 6954145 231552 126132994SH SOLE 53673094 130100 72236200 Lend Lease Corporation Ltd COM 6512004 1613 134900 SH SOLE 134900 Macquarie CountryWide Trust COM 6225595 115822 77602373 SH SOLE 26220201 76300 51250072 Macquarie DDR Trust COM 6712343 66142 72948200 SH SOLE 4100000 68848200 Macquarie Goodman Group COM B03FYZ4 180585 37114862 SH SOLE 19693390 66300 17306172 Macquarie Office Trust COM 6703994 61379 55016200 SH SOLE 336200 54680000 Macquarie Prologis Trust COM 6616274 40947 44429600 SH SOLE 32713100 11716500 Mirvac Group COM 6161978 112231 31728481 SH SOLE 5660781 32600 26010500 Multiplex Group COM 6715245 1747 665000 SH SOLE 665000 Reckson New York Property Trus COM B0LKY95 20598 24866452 SH SOLE 24866452 Stockland COM 6850856 169766 30742153 SH SOLE 2708394 21100 27997459 Tishman Speyer Office Fund COM B04NW19 55861 31451800 SH SOLE 155700 31296100 Valad Property Group COM 6570121 679 581600 SH SOLE 581600 Westfield Group COM B01BTX7 904289 64387571 SH SOLE 15536680 60400 48746291 Boardwalk Real Estate Investme COM 096631106 50852 1761900 SH SOLE 1761900 CROMBIE Real Estate Inv Trust COM 227107307 5311 500000 SH SOLE 500000 Calloway Real Estate Inv Tr 14 COM 131253304 18709 765400 SH SOLE 597100 168300 Calloway Real Estate Investmen COM 131253205 52252 2137700 SH SOLE 562800 5100 1566100 Can Hotel Inc Property Trust COM 2248400 10500 867100 SH SOLE 287100 580000 Canadian Apartment Properties COM 134921105 3607 220000 SH SOLE 220000 Canadian Apartment Realty 144A COM 134921105 32580 1987300 SH SOLE 1987300 Canadian Real Estate Investmen COM 2173052 907 37900 SH SOLE 37900 Cominar REIT COM 199910100 7780 417300 SH SOLE 57300 360000 Crombie Real Estate Investment COM 227107109 3555 334700 SH SOLE 334700 Dundee Real Estate Investment COM 265270108 53929 1739900 SH SOLE 1165800 3200 568500 Dundee Real Estate Investment COM 265270108 6159 198700 SH SOLE 177200 21500 H&R Real Estate Investment-UTS COM 403925100 54989 2655800 SH SOLE 1167600 1488200 IPC US Real Estate Investment COM 44981B106 826 83800 SH SOLE 83800 Innvest Real Estate Investment COM 45771T108 75969 6445200 SH SOLE 2295700 4149500 Innvest Real Estate Investment COM 45771T108 5186 440000 SH SOLE 440000 Primaris Retail Real Estate COM 74157U109 35524 2177600 SH SOLE 223300 1954300 Primaris Retail Real Estate - COM 74157U307 11419 700000 SH SOLE 700000 Retirement Residences REIT COM 76130C106 7855 1117800 SH SOLE 1117800 Retirement Residences REIT - 1 COM 76130C106 6183 879900 SH SOLE 879900 RioCan Real Estate Investment COM 766910103 173938 8082200 SH SOLE 3920400 11100 4143100 Summit Real Estate Inv TR-UT COM 865916100 62874 2351500 SH SOLE 2351500 Sunrise Senior Living RE Speci COM 86770Q604 27085 2948000 SH SOLE 1775600 13200 1150000 Sunrise Senior Living Real Est COM 86770Q109 26507 2885100 SH SOLE 2885100 Sunrise Senior Living Real Est COM 86770Q208 6349 691000 SH SOLE 691000 PSP Swiss Property AG COM B012877 755 14900 SH SOLE 14900 Beni Stabili COM 5808135 8099 7263760 SH SOLE 5084760 45000 2100400 Cofinimmo COM 4177988 30855 162928 SH SOLE 162928 Conwert Inmobilien Invest AG COM 7517882 21984 1091500 SH SOLE 760000 7100 319600 Corio NV COM 4929286 66368 911965 SH SOLE 129980 781985 Deutsche Wohnen AG-BR COM B0YZ0Z5 15073 248930 SH SOLE 163315 1650 82965 Deutsche Wohnen AG-REG COM 5812200 2200 37345 SH SOLE 27845 9500 Develica Deutscheland Ltd COM B151M86 14596 11638500 SH SOLE 8099000 89400 3398600 Dic Asset AG COM 7586707 1565 44170 SH SOLE 39270 4900 EuroCastle Investment Ltd COM B0TRNT1 15516 399119 SH SOLE 399119 Eurocommercial Properties COM 4798271 20087 425686 SH SOLE 422801 2885 IVG Immobilien AG COM 5740378 7597 209185 SH SOLE 145385 1500 61300 Icade COM B126KF7 1809 36200 SH SOLE 36200 Klepierre COM 7582556 85501 571520 SH SOLE 271440 2300 296080 Nieuwe Steen Investments NV COM 5436064 50386 1919669 SH SOLE 1201730 717939 Patrizia Immobilien AG COM B11Y3K8 11830 442800 SH SOLE 318100 2500 120400 Prologis European Properties COM B1FL0G0 29801 1600400 SH SOLE 1277200 6500 312000 Rodamco Continental Europe NV COM 5727360 243455 2092415 SH SOLE 906035 3100 1180980 Sponda OYJ COM 5472563 26742 2372012 SH SOLE 1871212 10100 483500 Ste De La Tour Eiffel COM 4900140 139912 883593 SH SOLE 543340 1300 338153 Unibail COM 7076242 247008 1176782 SH SOLE 705507 1755 468320 Vastned Offices/Industrial COM 4927172 48379 1368878 SH SOLE 1368878 Vastned Retail COM 4927194 124944 1524468 SH SOLE 612841 1600 909027 Warehouses De Pauw Sca COM 5710360 1767 30000 SH SOLE 30000 Wereldhave COM 4948623 125864 1154000 SH SOLE 949100 204900 Atlas Estate Limited COM B0WDBP8 10645 1859400 SH SOLE 1280000 16700 559500 Big Yellow Group PLC COM 0286941 357 39100 SH SOLE 39100 British Land Co COM 0136701 134769 5289500 SH SOLE 4094300 24500 1153700 Capital and Regional COM 0174154 23977 1082307 SH SOLE 753892 7000 316415 Derwent Valley Holdings PLC COM 0265274 37564 1101922 SH SOLE 771622 6700 318700 Great Portland Estates PLC COM B01FLL1 993 87900 SH SOLE 87900 Hammerson COM 0406501 86306 3521646 SH SOLE 2829164 13900 668382 Helical Bar PLC COM B0FYMT9 325 42400 SH SOLE 42400 ING UK Real Estate Income Tr COM B0LCW20 38355 16762000 SH SOLE 15495600 1266400 Insight Foundation Property Tr COM B01HM14 12269 4920000 SH SOLE 4920000 Kenmore European Industrial La COM BICH317 1105 555556 SH SOLE 555556 Land Securities Group COM 3180943 175348 4769942 SH SOLE 3840133 18900 897509 Liberty International COM 0683434 28753 1256580 SH SOLE 1154980 2500 97600 Mapeley Ltd COM B0BHCR0 7362 116495 SH SOLE 82735 800 32460 Shaftesbury PLC COM 0799096 736 65600 SH SOLE 65600 Slough Estates COM 0814104 78239 6298540 SH SOLE 5647040 13200 629200 Unite Group PLC COM 0692861 379 43800 SH SOLE 43800 Agile Property Holdings Ltd COM B0PR2F4 29288 35997000 SH SOLE 35997000 Champion Reit COM B14WZ47 43162 86682949 SH SOLE 27075124 300000 59145825 Cheung Kong Holdings Ltd COM 6190273 34879 3249100 SH SOLE 2065400 1166700 China Overseas Land & Investme COM 6192150 10017 12988000 SH SOLE 12988000 Chinese Estates Holdings Ltd COM 6191180 297 225000 SH SOLE 225000 Fortune REIT COM 6677174 6435 8498770 SH SOLE 244000 8254770 Guangzhou R&F Properties Co., COM B19H8Y8 11887 8435600 SH SOLE 6046100 2353900 Hang Lung Group Ltd COM 6408352 11546 4487080 SH SOLE 3096480 68000 1303600 Hang Lung Properties Ltd COM 6030506 19290 9033000 SH SOLE 9033000 Hysan Development Co COM 6449629 11689 4558892 SH SOLE 3280192 1259500 Kerry Properties Ltd COM 6486314 25963 7098500 SH SOLE 4995800 2071700 Link Reit COM B0PB4M7 38994 18733300 SH SOLE 9135200 9551100 Shui On Land Ltd COM B16NHT7 10951 15950000 SH SOLE 11280500 4600700 Sun Hung Kai Properties Ltd COM 6859927 113190 10370399 SH SOLE 8080599 55000 2201800 Wheelock & Co Ltd COM 6981488 305 174000 SH SOLE 174000 Japan Excellent Inc. COM B15T1R2 370 74 SH SOLE 74 Japan Hotel and Resort Inc COM B0XPSY1 2746 581 SH SOLE 177 404 Japan Logistics Fund Inc COM B07NL19 37697 5104 SH SOLE 1705 3388 Japan Real Estate Toshi Hojin COM 6397580 322 38 SH SOLE 38 Japan Retail Fund Investment COM 6513342 62480 8479 SH SOLE 4264 4207 Joint Corporation COM 6131294 291 8500 SH SOLE 8500 Kenedix Realty Investment Co COM B0C5Q59 9652 1859 SH SOLE 1242 607 Leopalace21 Corp COM 6598424 14000 383500 SH SOLE 239700 141800 Mitsubishi Estate Co Ltd COM 6596729 164856 7544100 SH SOLE 5503100 2011000 Mitsui Fudosan Co Ltd COM 6597603 150705 6626800 SH SOLE 4832600 48000 1720200 NTT Urban Development Corp COM B031SG1 967 121 SH SOLE 121 Nippon Accommodations Fund COM B182BB2 20756 3713 SH SOLE 263 3450 Nippon Building Fund COM 6396800 65018 6397 SH SOLE 3216 3168 Sumitomo Realty and Developmen COM 6858902 82920 2821300 SH SOLE 1933400 37000 838300 Tokyo Tatemono Co Ltd COM 6895426 337 30000 SH SOLE 30000 Tokyu Land Corp COM 6895084 692 73000 SH SOLE 73000 Tokyu Reit Inc COM 6687203 754 98 SH SOLE 98 Ayala Land Inc COM 6055112 691 2433000 SH SOLE 2433000 SP Setia Berhad COM 6868774 297 290000 SH SOLE 290000 Starhill Real Estate Investmen COM B0JVKJ2 732 2950400 SH SOLE 2950400 Kiwi Income Property Trust COM 6495172 34249 38012000 SH SOLE 38012000 Castellum COM B0XP0T0 33927 3013800 SH SOLE 2104200 19500 876000 Ascendas Real Estate Inv Trt COM 6563875 34188 25226000 SH SOLE 1254000 23972000 CDL Hospitality COM B192HG8 388 581000 SH SOLE 581000 Capitacommercial Trust COM B011YD2 28077 20154200 SH SOLE 3842200 16312000 Capitaland Ltd COM 6309303 41069 12901300 SH SOLE 9253400 3591900 Capitamall Trust COM 6420129 51363 32079600 SH SOLE 8083900 23940700 Capitamall Trust - TMP COM 6420129 2144 1350000 SH SOLE 1323000 27000 City Devs Ltd COM 6197928 17767 2634182 SH SOLE 1766882 854300 Macquarie MEAG Prime Reit COM B0HZGR6 7157 11644600 SH SOLE 8787000 2857600 Mapletree Logistics Trust COM B0D6P43 1027 1752000 SH SOLE 1298000 454000 Suntec REIT COM B04PZ72 19200 20580000 SH SOLE 20580000 Central Pattana Public Co., Lt COM B013L59 659 1290000 SH SOLE 1290000 AMB Property Corp. COM 00163T109 153611 2787353 SH SOLE 1213663 4200 1566490 Acadia Realty Trust COM 004239109 16358 641500 SH SOLE 419350 222150 American Campus Communities COM 024835100 22913 898200 SH SOLE 898200 Apartment Investment and Manag COM 03748R101 87486 1607900 SH SOLE 289000 1318900 Archstone-Smith Trust COM 039583109 380128 6982513 SH SOLE 3407763 9800 3558050 AvalonBay Communities Inc COM 053484101 202512 1681997 SH SOLE 957687 3350 718460 BNP Residential Pptys Inc COM 05564T103 7659 322500 SH SOLE 322500 BRE Properties Inc COM 05564E106 143528 2402944 SH SOLE 1100224 4400 1295220 Biomed Realty Trust Inc COM 09063H107 79573 2622714 SH SOLE 1637814 3700 978000 Boston Properties Inc. COM 101121101 365466 3536543 SH SOLE 1693333 4500 1835410 Brandywine Realty Trust SBI COM 105368203 89173 2739563 SH SOLE 1619583 1119980 Brookfield Properties Corp. COM 112900105 1469 41600 SH SOLE 41600 CBL and Associates Properties COM 124830100 8659 206600 SH SOLE 206600 Camden Property Trust COM 133131102 332304 4371851 SH SOLE 2481471 3300 1884680 Cedar Shopping Centers Inc COM 150602209 28249 1747000 SH SOLE 1747000 Colonial Properties Trust SBI COM 195872106 61302 1282200 SH SOLE 661000 621200 Commercial Net Lease Realty COM 202218103 19889 920800 SH SOLE 920800 Corporate Office Properties Tr COM 22002T108 110011 2457795 SH SOLE 1232095 4100 1218800 Crescent Real Estate Equities COM 225756105 73717 3379957 SH SOLE 1058157 2321800 Developers Diversified Realty COM 251591103 226797 4067370 SH SOLE 1335610 4200 2724460 Digital Realty Trust Inc COM 253868103 6734 215000 SH SOLE 215000 Duke Realty Corporation COM 264411505 67230 1800000 SH SOLE 1800000 Eastgroup Properties COM 277276101 9295 186429 SH SOLE 186429 Education Realty Trust Inc. COM 28140H104 164 11100 SH SOLE 11100 Equity Inns Inc COM 294703103 1087 68300 SH SOLE 68300 Equity Office Properties Trust COM 294741103 396098 9962218 SH SOLE 3401808 11250 6540960 Equity Residential COM 29476L107 319451 6315767 SH SOLE 2156997 10250 4141220 Extra Space Storage Inc COM 30225T102 89337 5161030 SH SOLE 2589430 5800 2562000 Federal Realty Investment Trus COM 313747206 166140 2236065 SH SOLE 1193865 4000 1035300 Felcor Lodging Trust, Inc. COM 31430F101 29328 1462749 SH SOLE 916549 4500 538700 First Industrial Realty Trust COM 32054K103 148795 3381700 SH SOLE 1569800 1811900 GMH Communities Trust COM 36188G102 25258 2001400 SH SOLE 1826800 174600 General Growth Properties Inc COM 370021107 61100 1282257 SH SOLE 806397 4600 467960 Glenborough Realty Trust Inc COM 37803P105 8105 315000 SH SOLE 315000 Glimcher Realty Trust COM 379302102 6899 278400 SH SOLE 278400 Gramercy Capital Corp COM 384871109 17017 675000 SH SOLE 675000 HRPT Properties Trust COM 40426W101 59739 4999084 SH SOLE 1091484 3907600 Health Care Props. COM 421915109 14442 465120 SH SOLE 120 465000 Health Care REIT Inc COM 42217K106 147385 3683700 SH SOLE 1171400 2512300 Heritage Property Investment T COM 42725M107 18452 506100 SH SOLE 506100 Hersha Hospitality Trust COM 427825104 7524 783700 SH SOLE 371000 412700 Highwoods Properties Inc COM 431284108 165566 4449507 SH SOLE 1963807 4800 2477400 Home Properties Inc COM 437306103 19203 335953 SH SOLE 271953 64000 Hong Kong Land Hlds Ltd USD COM 6434915 47996 12370200 SH SOLE 9143000 75000 3103200 Hospitality Properties Trust COM 44106M102 64140 1358900 SH SOLE 369100 989800 Host Hotels & Resorts Inc. COM 44107P104 255176 11128495 SH SOLE 5111465 20410 5981720 Istar Finl Inc. COM 45031u101 39886 956500 SH SOLE 956500 Kilroy Realty Corp COM 49427F108 104187 1382889 SH SOLE 610449 2700 767840 Kimco Realty Corp. COM 49446R109 49420 1152791 SH SOLE 549893 1600 599698 LaSalle Hotels and Properties COM 517942108 32296 745174 SH SOLE 288974 456200 Lexington Corporate Properties COM 529043101 635 30000 SH SOLE 30000 Liberty Property Trust COM 531172104 296450 6203183 SH SOLE 3045823 3700 3150960 Lotte Shopping Co-GDR 144A COM 54569T106 350 20000 SH SOLE 20000 Macerich Co COM 554382101 237428 3109325 SH SOLE 1642675 5300 1457750 Mack-Cali Realty Corp COM 554489104 2305 44500 SH SOLE 44500 Maguire Properties COM 559775101 302589 7427325 SH SOLE 4963825 5200 2454300 Mid-America Apt. Comm. COM 59522J103 51951 848600 SH SOLE 848600 Nationwide Health Properties I COM 638620104 196274 7340076 SH SOLE 3728576 3800 3605100 New Plan Excel Realty Trust In COM 648053106 82576 3052700 SH SOLE 745700 2307000 NewCastle Investment Corp COM 65105M108 6718 245100 SH SOLE 245100 Omega Healthcare Investors COM 681936100 134367 8951851 SH SOLE 5011351 9200 3924500 Pennsylvania Real Estate COM 709102107 100310 2356353 SH SOLE 1270753 1085600 Post Properties Inc COM 737464107 100714 2119410 SH SOLE 1022190 4400 1089620 Prologis COM 743410102 242898 4256893 SH SOLE 2582953 8200 1659740 Public Storage Inc COM 74460D109 164751 1915934 SH SOLE 980252 4476 928206 Reckson Associates Realty Corp COM 75621K106 158388 3700646 SH SOLE 1450596 2600 2247450 Regency Centers Corporation COM 758849103 135526 1971006 SH SOLE 1128876 3400 836230 SL Green Realty Corp. COM 78440X101 222040 1987827 SH SOLE 1296067 3100 686460 Senior Housing Properties Trus COM 81721M109 41210 1931117 SH SOLE 216000 1715117 Simon Property Group Inc COM 828806109 464251 5123051 SH SOLE 1622704 7100 3488047 Sovran Storage COM 84610H108 14649 263700 SH SOLE 263700 Spirit Finance Corp COM 848568309 29211 2516000 SH SOLE 1473000 1043000 Starwood Hotels and Resorts Wo COM 85590A401 14113 246775 SH SOLE 164355 1300 80220 Strategic Hotels & Resorts, In COM 86272T106 133073 6693816 SH SOLE 3087516 7700 3592900 Sunstone Hotel Investors Inc COM 867892101 68631 2309243 SH SOLE 753043 3900 1549500 Taubman Centers Inc. COM 876664103 72405 1630014 SH SOLE 907034 3000 717980 Trizec Properties Inc COM 89687p107 6704 231880 SH SOLE 133970 97910 Trustreet Properties COM 898404108 13337 1066100 SH SOLE 971600 94500 U-Store-It Trust COM 91274F104 14155 659600 SH SOLE 574400 85200 United Dominion Realty Trust I COM 910197102 115079 3810576 SH SOLE 1369376 6000 2430600 Ventas Inc COM 92276F100 119463 3099726 SH SOLE 1113926 5200 1976700 Vornado Realty Trust COM 929042109 174050 1596793 SH SOLE 832523 3900 757570 Washington REIT COM 939653101 53100 1334167 SH SOLE 871367 3700 456600 Weingarten Realty Investors COM 948741103 25502 592800 SH SOLE 592800 AMB Property 7% Series O 00163T505 15264 600000 SH SOLE 600000 Affordable Residential 8.25% S 008273203 2992 125800 SH SOLE 125800 Alexandria Real Estate 8.375% 015271406 20271 773700 SH SOLE 450000 323700 Apartment Invt & Mgmt 7.75% Se 03748R820 10247 403900 SH SOLE 80500 323400 Apartment Invt & Mgmt 7.875% 03748R796 13694 540000 SH SOLE 400000 140000 Apartment Invt & Mgmt Co 8.00% 03748R812 12230 480000 SH SOLE 480000 Assoc Estates Realty 8.70% Ser 045604402 4782 182800 SH SOLE 174000 8800 Bedford Property Invest 7.6250 076446608 3536 170000 SH SOLE 170000 Bedford Property Invest 8.75% 076446400 1763 36000 SH SOLE 36000 Brandywine Realty Trust Series 105368401 3194 127000 SH SOLE 127000 CBL & Assoc Prop 7.75% Series 124830506 1321 51000 SH SOLE 51000 CBL & Assoc Prop 7.375% Series 124830605 19001 754000 SH SOLE 754000 Cedar Shopping Centers 8.8750% 150602308 13175 500000 SH SOLE 272700 227300 Corporate Office Prop Tr 7.625 22002T702 16640 640000 SH SOLE 280000 360000 Corporate Office Prop. Series 22002T603 1391 55000 SH SOLE 55000 Cousins Property 7.50% series 222795403 9482 373000 SH SOLE 373000 Developers Diversified Series 251591780 10538 414900 SH SOLE 414900 Digital Realty 7.875% PFD Seri 253868301 13314 525000 SH SOLE 125000 400000 Duke Realty Corp 6.95% Series 264411729 21658 850000 SH SOLE 200800 649200 Duke Realty Corp 7.25% Pfd Ser 264411695 12408 480000 SH SOLE 480000 Eagle Hospitality Properties T 26959T201 6415 250000 SH SOLE 126800 123200 Equity Inns Inc 8% Series C 294703400 20320 800000 SH SOLE 388000 412000 Federal Realty Invs Trst 8.5% 313747503 1517 59600 SH SOLE 59600 Felcor Lodging Trust Inc 1.950 31430F200 24746 993400 SH SOLE 974000 19400 Felcor Lodging Trust Inc. 8.00 31430F507 12953 520000 SH SOLE 20000 500000 First Ind Realty Trust 7.25% S 32054K798 1258 50000 SH SOLE 50000 Glimcher Realty Trust 8.1250% 379302409 14304 570100 SH SOLE 515700 54400 Glimcher Realty Trust 8.75% Se 379302300 2409 95000 SH SOLE 20000 75000 Health Care Reit Inc 7.6250% S 42217K403 21838 849400 SH SOLE 520000 329400 Hersha Hospitality Trust 8.00% 427825203 5192 200000 SH SOLE 200000 Highland Hospitality 7.875% Se 430141200 4980 200000 SH SOLE 200000 Host Marriott 8.8750% Series E 44107P609 27436 1036500 SH SOLE 905600 130900 Innkeepers USA Trust 8.0% Seri 4576J0401 16671 658400 SH SOLE 352600 305800 Istar Financial 7.50% Series I 45031U804 25487 1015000 SH SOLE 1015000 Istar Financial 7.80% Series F 45031U606 3837 150000 SH SOLE 150000 Kilroy Realty 7.50% Series F 49427F504 7839 309100 SH SOLE 309100 LTC Properties Inc 8.00% Serie 502175607 25070 1000000 SH SOLE 1000000 LaSalle Hotel 8.00% PFD 517942504 15480 600000 SH SOLE 600000 LaSalle Hotel Properties 7.5 % 517942405 21386 850000 SH SOLE 200000 650000 LaSalle Hotel Properties 8.375 517942306 4625 180600 SH SOLE 170000 10600 Maguire Properties Inc 7.625% 559775200 13420 544200 SH SOLE 401800 142400 Mid-America Apartment 8.3000% 59522J806 13513 529700 SH SOLE 200000 329700 Nationwide Health Prop 7.6770% 638620203 3558 35000 SH SOLE 35000 Northstar Reality Fin 8.75% Se 66704R209 5130 200000 SH SOLE 200000 Omega Healthcare 8.375% Series 681936407 3142 120000 SH SOLE 120000 PS Business Park 7.375% Series 69360J750 27178 1070000 SH SOLE 400000 670000 PS Business Parks, Inc. Series 69360J875 1322 52860 SH SOLE 52860 Pennsylvania Reit 11.0% Series 709102206 4552 82200 SH SOLE 82200 Public Storage 7.00% PFD 74460D364 18524 725000 SH SOLE 725000 Public Storage 7.25% PFD Serie 74460D299 36288 1400000 SH SOLE 129000 1271000 Public Storage 7.25% Series K 74460D273 46368 1800000 SH SOLE 440000 1360000 RAIT Investment Trust 7.75% Se 749227203 5892 240000 SH SOLE 240000 Rait Investment Trust 8.375% S 749227302 4088 160000 SH SOLE 160000 Ramco-Gershenson 7.95% Series 751452509 6690 200000 SH SOLE 200000 Regency Centers Corp. 6.700% 758849608 15227 614000 SH SOLE 614000 SL Green Realty 7.625% Series 78440X309 7089 280100 SH SOLE 272500 7600 SL Green Realty 7.875% Series 78440X408 15220 597100 SH SOLE 200000 397100 Strategic Hotel Capital 8.25% 86272T403 22805 875000 SH SOLE 520000 355000 Strategic Hotel Capital 8.25% 86272T502 25650 1000000 SH SOLE 454500 545500 Strategic Hotel Capital 8.5% P 86272T205 7013 275000 SH SOLE 275000 Sunstone Hotel 8.00% Series A 867892200 16886 664800 SH SOLE 468000 196800 Tanger Factory Outlet 7.5% Ser 875465403 13166 520000 SH SOLE 520000 Taubman Centers Inc. 8.00% Se 876664301 11669 437700 SH SOLE 342600 95100 Taubman Centers Inc. 7.6250% S 876664400 28365 1084300 SH SOLE 573500 510800 The Mills Corp 8.75% Series E 601148406 3717 179200 SH SOLE 179200 Urstadt Biddle Props Inc. 7.50 917286502 14768 590000 SH SOLE 590000 Vornado Realty 6.625% Series G 929042802 2430 100000 SH SOLE 100000 Vornado Realty 6.625% Series I 929042877 1096 45000 SH SOLE 45000 Vornado Realty Trust Series E 929042604 1358 53100 SH SOLE 53100 Windrose Medical 7.50% Series 973491202 7840 280000 SH SOLE 280000 Winston Hotels 8.00% Series B 97563A300 11871 472000 SH SOLE 464400 7600 Great Eagle Hldg Co. Rights CRZ HK RT 0 25175 SH SOLE 25175 Sun Millennium Real Estate Rig SUNMREITH 0 7821599 SH SOLE 6481399 55000 1285200 Corestate German Residential F CGRF EUUN 4092 3230000 SH SOLE 3230000 Sveafastigehter Fund II Capita SVF SEUN 1103 8083333 SH SOLE 8083333 Verde Group, LLC 1250 37879 SH SOLE 37879 Verde Realty Master Limited Pa 11250 340909 SH SOLE 340909
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