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
BRIDGE INVT GROUP HLDGS INC COM CL A 10806B100 25,171 1,236,926 SH   SOLE   1,236,926 0 0
BROOKDALE COM 112463104 14,696 2,084,500 SH   SOLE   2,084,500 0 0
CENTURY CMNTYS INC COM 156504300 5,357 100,000 SH   SOLE   100,000 0 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106 17,300 5,000,000 SH   SOLE   5,000,000 0 0
DIGITALBRIDGE GROUP INC CL A COM 25401T108 32,976 4,580,000 SH   SOLE   4,580,000 0 0
GMS INC COM 36251C103 17,012 341,807 SH   SOLE   341,807 0 0
HILTON GRAND VACATIONS INC COM 43283X105 21,150 406,655 SH   SOLE   406,655 0 0
INDUS REALTY TRUST INC COM 45580R103 76,678 1,049,088 SH   SOLE   1,049,088 0 0
ISTAR INC COM 45031U101 17,218 735,500 SH   SOLE   735,500 0 0
P10 INC COM CL A 69376K106 21,551 1,778,157 SH   SOLE   1,778,157 0 0
RADIUS GLOBSAL INFRASTRUCTURE INC COM CL A 750481103 56,647 3,966,907 SH   SOLE   3,966,907 0 0
SONIDA SENIOR LIVING COM 140475203 98,909 2,985,481 SH   SOLE   2,985,481 0 0
TARGET HOSPITALITY CORP COM 87615L107 8,184 1,364,026 SH   SOLE   1,364,026 0 0
WALKER & DUNLOP INC COM 93148P102 28,214 218,000 SH   SOLE   218,000 0 0
WHITESTONE REIT COM 966084204 20,696 1,561,930 SH   SOLE   1,561,930 0 0