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 1,721 84,334 SH   SOLE   84,334 0 0
AMERICAN TOWER CORP NEW COM 03027X100 10,398 39,176 SH   SOLE   39,176 0 0
CORESITE RLTY CORP COM 21870Q105 9,404 67,882 SH   SOLE   67,882 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 3,681 389,539 SH   SOLE   389,539 0 0
ESSEX PPTY TR INC COM 297178105 11,766 36,800 SH   SOLE   36,800 0 0
FEDERAL RLTY INVT TR SH BEN INT NEW 313747206 5,137 43,532 SH   SOLE   43,532 0 0
GLOBAL MED REIT INC COM NEW 37954A204 10,212 694,669 SH   SOLE   694,669 0 0
INVITATION HOMES INC COM 46187W107 7,666 200,000 SH   SOLE   200,000 0 0
JONES LANG LASALLE INC COM 48020Q107 13,721 55,307 SH   SOLE   55,307 0 0
KIMCO RLTY CORP COM 49446R109 15,294 737,080 SH   SOLE   737,080 0 0
LIFE STORAGE INC COM 53223X107 7,206 62,800 SH   SOLE   62,800 0 0
MID-AMER APT CMNTYS INC COM 59522J103 16,443 88,048 SH   SOLE   88,048 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 13,993 265,071 SH   SOLE   265,071 0 0
PARK HOTELS & RESORTS INC COM 700517105 5,713 298,477 SH   SOLE   298,477 0 0
RADIUS GLOBAL INFRASTRCTRE I COM CL A 750481103 7,357 450,533 SH   SOLE   450,533 0 0
REALTY INCOME CORP COM 756109104 6,596 101,694 SH   SOLE   101,694 0 0
REXFORD INDL RLTY INC COM 76169C100 12,428 218,996 SH   SOLE   218,996 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 5,928 70,821 SH   SOLE   70,821 0 0
SAFEHOLD INC COM 78645L100 7,050 98,067 SH   SOLE   98,067 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 8,260 24,985 SH   SOLE   24,985 0 0
SIMON PPTY GROUP INC NEW COM 828806109 9,855 75,825 SH   SOLE   75,825 0 0
SUN CMNTYS INC COM 866674104 5,469 29,544 SH   SOLE   29,544 0 0
VENTAS INC COM 92276F100 12,688 229,806 SH   SOLE   229,806 0 0
VICI PPTYS INC COM 925652109 7,884 277,500 SH   SOLE   277,500 0 0
VORNADO RLTY TR SH BEN INT 929042109 10,340 246,121 SH   SOLE   246,121 0 0
WALKER & DUNLOP INC COM 93148P102 3,360 29,600 SH   SOLE   29,600 0 0
WEST FRASER TIMBER CO LTD COM 952845105 10,869 129,040 SH   SOLE   129,040 0 0
XENIA HOTELS & RESORTS INC COM 984017103 6,392 360,350 SH   SOLE   360,350 0 0