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
ACADIA RLTY TR COM SH BEN INT 004239109 48,482 1,694,000 SH   DFND 1,2,3 0 1,694,000 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 513,999 4,320,405 SH   DFND 1,2,3 0 4,320,405 0
AVALONBAY CMNTYS INC COM 053484101 662,256 3,711,780 SH   DFND 1,2,3 0 3,711,780 0
BOSTON PROPERTIES INC COM 101121101 803,769 6,541,092 SH   DFND 1,2,3 0 6,541,092 0
BRIXMOR PPTY GROUP INC COM 11120U105 171,230 9,108,000 SH   DFND 1,2,3 0 9,108,000 0
COUSINS PPTYS INC COM 222795106 56,274 6,025,000 SH   DFND 1,2,3 0 6,025,000 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 114,131 1,970,500 SH   DFND 1,2,3 0 1,970,500 0
DDR CORP COM 23317H102 48,837 5,331,505 SH   DFND 1,2,3 0 5,331,505 0
DIGITAL RLTY TR INC COM 253868103 560,375 4,735,696 SH   DFND 1,2,3 0 4,735,696 0
EQUINIX INC COM PAR $0.001 29444U700 47,977 107,500 SH   DFND 1,2,3 0 107,500 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 87,590 1,029,500 SH   DFND 1,2,3 0 1,029,500 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 992,932 15,060,400 SH   DFND 1,2,3 0 15,060,400 0
ESSEX PPTY TR INC COM 297178105 83,957 330,500 SH   DFND 1,2,3 0 330,500 0
EXTRA SPACE STORAGE INC COM 30225T102 110,529 1,383,000 SH   DFND 1,2,3 0 1,383,000 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 103,039 829,553 SH   DFND 1,2,3 0 829,553 0
GGP INC COM 36174X101 65,446 3,151,000 SH   DFND 1,2,3 0 3,151,000 0
GRAMERCY PPTY TR COM NEW 385002308 64,798 2,142,097 SH   DFND 1,2,3 0 2,142,097 0
HCP INC COM 40414L109 108,509 3,899,000 SH   DFND 1,2,3 0 3,899,000 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 112,049 3,760,031 SH   DFND 1,2,3 0 3,760,031 0
HIGHWOODS PPTYS INC COM 431284108 115,115 2,209,929 SH   DFND 1,2,3 0 2,209,929 0
HOST HOTELS & RESORTS INC COM 44107P104 249,653 13,502,044 SH   DFND 1,2,3 0 13,502,044 0
INVITATION HOMES INC COM 46187W107 246,898 10,900,582 SH   DFND 1,2,3 0 10,900,582 0
JBG SMITH PPTYS COM 46590V100 88,423 2,584,703 SH   DFND 1,2,3 0 2,584,703 0
KILROY RLTY CORP COM 49427F108 54,087 760,500 SH   DFND 1,2,3 0 760,500 0
KIMCO RLTY CORP COM 49446R109 164,510 8,414,850 SH   DFND 1,2,3 0 8,414,850 0
LIFE STORAGE INC COM 53223X107 54,895 671,000 SH   DFND 1,2,3 0 671,000 0
MID AMER APT CMNTYS INC COM 59522J103 315,189 2,949,000 SH   DFND 1,2,3 0 2,949,000 0
NATIONAL RETAIL PPTYS INC COM 637417106 75,792 1,819,300 SH   DFND 1,2,3 0 1,819,300 0
PARAMOUNT GROUP INC COM 69924R108 34,925 2,182,783 SH   DFND 1,2,3 0 2,182,783 0
PARK HOTELS RESORTS INC COM 700517105 42,718 1,550,000 SH   DFND 1,2,3 0 1,550,000 0
PROLOGIS INC COM 74340W103 1,138,620 17,942,319 SH   DFND 1,2,3 0 17,942,319 0
PUBLIC STORAGE COM 74460D109 976,548 4,563,523 SH   DFND 1,2,3 0 4,563,523 0
QTS RLTY TR INC COM CL A 74736A103 32,725 625,000 SH   DFND 1,2,3 0 625,000 0
REALTY INCOME CORP COM 756109104 120,745 2,111,300 SH   DFND 1,2,3 0 2,111,300 0
REGENCY CTRS CORP COM 758849103 320,313 5,163,000 SH   DFND 1,2,3 0 5,163,000 0
RLJ LODGING TR COM 74965L101 40,768 1,853,106 SH   DFND 1,2,3 0 1,853,106 0
SABRA HEALTH CARE REIT INC COM 78573L106 63,056 2,874,000 SH   DFND 1,2,3 0 2,874,000 0
SANDRIDGE ENERGY INC COM NEW 80007P869 1,303 64,873 SH   DFND 1,2,3 0 64,873 0
SIMON PPTY GROUP INC NEW COM 828806109 1,206,567 7,493,740 SH   DFND 1,2,3 0 7,493,740 0
SL GREEN RLTY CORP COM 78440X101 114,542 1,130,500 SH   DFND 1,2,3 0 1,130,500 0
STORE CAP CORP COM 862121100 99,383 3,996,100 SH   DFND 1,2,3 0 3,996,100 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 40,175 2,500,000 SH   DFND 1,2,3 0 2,500,000 0
TAUBMAN CTRS INC COM 876664103 132,948 2,675,000 SH   DFND 1,2,3 0 2,675,000 0
TERRENO RLTY CORP COM 88146M101 60,107 1,661,338 SH   DFND 1,2,3 0 1,661,338 0
VENTAS INC COM 92276F100 945,496 14,517,063 SH   DFND 1,2,3 0 14,517,063 0
VORNADO RLTY TR SH BEN INT 929042109 397,424 5,169,407 SH   DFND 1,2,3 0 5,169,407 0
WASHINGTON PRIME GROUP NEW COM 93964W108 34,635 4,157,891 SH   DFND 1,2,3 0 4,157,891 0
XENIA HOTELS & RESORTS INC COM 984017103 35,660 1,694,068 SH   DFND 1,2,3 0 1,694,068 0