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
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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 Realty Trust COM SH BEN INT 004239109 15,991 1,126,909 SH   SOLE   1,126,909 0 0
American Tower Corporation COM 03027X100 43,768 194,991 SH   SOLE   194,991 0 0
Alexandria Real Estate Equities, Inc. COM 015271109 7,467 41,898 SH   SOLE   41,898 0 0
Broadstone Net Lease, Inc. Class A CL A COM 11135E104 3,618 184,759 SH   SOLE   184,759 0 0
Brixmor Property Group, Inc. COM 11120U105 39,458 2,384,148 SH   SOLE   2,384,148 0 0
Colony Capital, Inc. Class A CL A COM 19626G108 38,844 8,075,733 SH   SOLE   8,075,733 0 0
Americold Realty Trust COM 03064D108 61,696 1,652,721 SH   SOLE   1,652,721 0 0
CatchMark Timber Trust, Inc. Class A CL A 14912Y202 26,303 2,810,140 SH   SOLE   2,810,140 0 0
CoreCivic, Inc. COM 21871N101 14,652 2,236,960 SH   SOLE   2,236,960 0 0
Easterly Government Properties, Inc. COM 27616P103 36,954 1,631,525 SH   SOLE   1,631,525 0 0
Digital Realty Trust, Inc. COM 253868103 25,154 180,302 SH   SOLE   180,302 0 0
Ellington Financial Inc. COM 28852N109 30,199 2,035,006 SH   SOLE   2,035,006 0 0
Equity LifeStyle Properties, Inc. COM 29472R108 48,709 768,763 SH   SOLE   768,763 0 0
Equinix, Inc. COM 29444U700 38,887 54,450 SH   SOLE   54,450 0 0
GEO Group Inc COM 36162J106 17,033 1,922,495 SH   SOLE   1,922,495 0 0
Invitation Homes, Inc. COM 46187W107 61,807 2,081,049 SH   SOLE   2,081,049 0 0
Independence Realty Trust, Inc. COM 45378A106 24,628 1,833,818 SH   SOLE   1,833,818 0 0
Kilroy Realty Corporation COM 49427F108 16,898 294,388 SH   SOLE   294,388 0 0
Kennedy-Wilson Holdings, Inc. COM 489398107 51,644 2,886,770 SH   SOLE   2,886,770 0 0
Marriott International, Inc. Class A CL A 571903202 44,232 335,296 SH   SOLE   335,296 0 0
National Retail Properties, Inc. COM 637417106 19,577 478,427 SH   SOLE   478,427 0 0
Corporate Office Properties Trust SH BEN INT 22002T108 16,890 647,633 SH   SOLE   647,633 0 0
Healthpeak Properties, Inc. COM 42250P103 18,597 615,192 SH   SOLE   615,192 0 0
Prologis, Inc. COM 74340W103 54,246 544,310 SH   SOLE   544,310 0 0
QTS Realty Trust, Inc. Class A COM CL A 74736A103 32,912 531,864 SH   SOLE   531,864 0 0
New Senior Investment Group Inc COM 648691103 2,683 517,906 SH   SOLE   517,906 0 0
STAG Industrial, Inc. COM 85254J102 14,381 459,155 SH   SOLE   459,155 0 0
Welltower, Inc. COM 95040Q104 22,262 344,501 SH   SOLE   344,501 0 0