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
BROOKDALE SR LIVING INC COM 112463104 53,008 5,000,774 SH   SOLE   5,000,774 0 0
MACK CALI RLTY CORP COM 554489104 10,371 437,396 SH   SOLE   437,396 0 0
CORESITE RLTY CORP COM 21870Q105 11,391 101,800 SH   SOLE   101,800 0 0
EQUITY RESIDENTIAL COM 29476L107 20,496 310,881 SH   SOLE   310,881 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 12,987 187,000 SH   SOLE   187,000 0 0
LIFE STORAGE INC COM 53223X107 67,395 823,803 SH   SOLE   823,803 0 0
MGM RESORTS INTERNATIONAL COM 552953101 38,639 1,185,610 SH   SOLE   1,185,610 0 0
QTS RLTY TR INC COM 74736A103 20,357 388,790 SH   SOLE   388,790 0 0
RLJ LODGING TR COM 74965L101 77,072 3,503,275 SH   SOLE   3,503,275 0 0
SBA COMMUNICATIONS CORP NEW COM 78410G104 14,732 102,271 SH   SOLE   102,271 0 0
STARWOOD WAYPOINT HOMES COM 85572F105 28,116 773,052 SH   SOLE   773,052 0 0
TAUBMAN CTRS INC COM 876664103 52,361 1,053,547 SH   SOLE   1,053,547 0 0