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
COLUMBIA PPTY TR INC COM NEW 198287203 10,962 518,312 SH   SOLE   518,312 0 0
D R HORTON INC COM 23331A109 3,795 72,000 SH   SOLE   72,000 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 18,407 1,795,821 SH   SOLE   1,795,821 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 27,517 1,879,548 SH   SOLE   1,879,548 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 2,948 201,400 SH Call SOLE   201,400 0 0
HILTON GRAND VACATIONS INC COM 43283X105 5,677 177,400 SH   SOLE   177,400 0 0
HUDSON PAC PPTYS INC COM 444097109 10,932 326,714 SH   SOLE   326,714 0 0
LIBERTY PPTY TR SH BEN INT 531172104 16,781 326,932 SH   SOLE   326,932 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 11,151 1,424,158 SH   SOLE   1,424,158 0 0
RETAIL VALUE INC COM 76133Q102 3,918 105,765 SH   SOLE   105,765 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 22,829 476,987 SH   SOLE   476,987 0 0
TRINITY MERGER CORP COM CL A 89653L106 11,163 1,069,294 SH   SOLE   1,069,294 0 0
VORNADO RLTY TR SH BEN INT 929042109 23,212 364,561 SH   SOLE   364,561 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 20,497 396,148 SH   SOLE   396,148 0 0