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
AMERICAN HOMES 4 RENT CL A 02665T306 10,824 479,588 SH   SOLE   479,588 0 0
COLONY STARWOOD HOMES COM 19625X102 10,862 316,587 SH   SOLE   316,587 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 10,919 345,551 SH   SOLE   345,551 0 0
GGP INC COM 36174X101 10,886 462,034 SH   SOLE   462,034 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 10,700 172,992 SH   SOLE   172,992 0 0
HUDSON PAC PPTYS INC COM 444097109 8,703 254,534 SH   SOLE   254,534 0 0
HYATT HOTELS CORP COM CL A 448579102 12,823 228,122 SH   SOLE   228,122 0 0
LA QUINTA HLDGS INC COM 50420D108 16,976 1,149,382 SH   SOLE   1,149,382 0 0
MACERICH CO COM 554382101 10,956 188,700 SH   SOLE   188,700 0 0
MASCO CORP COM 574599106 8,629 225,822 SH   SOLE   225,822 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 5,425 185,856 SH   SOLE   185,856 0 0
NEW YORK REIT INC COM 64976L109 5,417 627,006 SH   SOLE   627,006 0 0
PROLOGIS INC COM 74340W103 12,033 205,200 SH   SOLE   205,200 0 0
RETAIL PPTYS AMER INC CL A 76131V202 11,419 935,199 SH   SOLE   935,199 0 0
REXFORD INDL RLTY INC COM 76169C100 5,379 196,038 SH   SOLE   196,038 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 13,003 96,388 SH   SOLE   96,388 0 0
SUN CMNTYS INC COM 866674104 8,586 97,912 SH   SOLE   97,912 0 0
VAIL RESORTS INC COM 91879Q109 5,627 27,740 SH   SOLE   27,740 0 0
ZAYO GROUP HLDGS INC COM 98919V105 6,435 208,256 SH   SOLE   208,256 0 0