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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 5,923 31,000 SH   SOLE   31,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 6,783 140,000 SH   SOLE   140,000 0 0
APARTMENT INCOME REIT CORP COM 03750L109 1,708 35,000 SH   SOLE   35,000 0 0
APARTMENT INVT & MGMT CO CL A 03748R747 2,226 325,000 SH   SOLE   325,000 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 3,146 200,000 SH   SOLE   200,000 0 0
AVALONBAY CMNTYS INC COM 053484101 12,190 55,000 SH   SOLE   55,000 0 0
BOSTON PROPERTIES INC COM 101121101 10,185 94,000 SH   SOLE   94,000 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 8,733 395,000 SH   SOLE   395,000 0 0
CAMDEN PPTY TR SH BEN INT 133131102 8,627 58,500 SH   SOLE   58,500 0 0
CUSHMAN WAKEFIELD PLC SHS G2717B108 3,071 165,000 SH   SOLE   165,000 0 0
CYRUSONE INC COM 23283R100 4,335 56,000 SH   SOLE   56,000 0 0
EASTGROUP PPTYS INC COM 277276101 2,083 12,500 SH   SOLE   12,500 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 4,296 55,000 SH   SOLE   55,000 0 0
GETTY RLTY CORP NEW COM 374297109 3,224 110,000 SH   SOLE   110,000 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 3,348 100,000 SH   SOLE   100,000 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 840 90,000 SH   SOLE   90,000 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 5,284 40,000 SH   SOLE   40,000 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 5,393 265,000 SH   SOLE   265,000 0 0
INVITATION HOMES INC COM 46187W107 4,025 105,000 SH   SOLE   105,000 0 0
KILROY RLTY CORP COM 49427F108 3,873 58,500 SH   SOLE   58,500 0 0
LENNAR CORP CL A 526057104 4,497 48,000 SH   SOLE   48,000 0 0
LEXINGTON REALTY TRUST COM 529043101 7,013 550,000 SH   SOLE   550,000 0 0
LIFE STORAGE INC COM 53223X107 6,024 52,500 SH   SOLE   52,500 0 0
MARCUS CORP DEL COM 566330106 1,571 90,000 SH   SOLE   90,000 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 1,606 80,000 SH   SOLE   80,000 0 0
MERITAGE HOMES CORP COM 59001A102 2,377 24,500 SH   SOLE   24,500 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 4,405 115,000 SH   SOLE   115,000 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 1,512 35,000 SH   SOLE   35,000 0 0
NETSTREIT CORP COM 64119V303 4,387 185,503 SH   SOLE   185,503 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 4,818 215,000 SH   SOLE   215,000 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 1,394 80,000 SH   SOLE   80,000 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 2,073 250,000 SH   SOLE   250,000 0 0
PUBLIC STORAGE COM 74460D109 4,902 16,500 SH   SOLE   16,500 0 0
REALTY INCOME CORP COM 756109104 8,108 125,000 SH   SOLE   125,000 0 0
REGENCY CTRS CORP COM 758849103 10,604 157,500 SH   SOLE   157,500 0 0
REXFORD INDL RLTY INC COM 76169C100 6,243 110,000 SH   SOLE   110,000 0 0
RPT REALTY SH BEN INT 74971D101 2,807 220,000 SH   SOLE   220,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 4,224 32,500 SH   SOLE   32,500 0 0
SL GREEN RLTY CORP COM 78440X804 531 7,500 SH   SOLE   7,500 0 0
STAG INDL INC COM 85254J102 3,925 100,000 SH   SOLE   100,000 0 0
SUMMIT HOTEL PPTYS INC COM 866082100 4,815 500,000 SH   SOLE   500,000 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 4,119 345,000 SH   SOLE   345,000 0 0
UDR INC COM 902653104 1,192 22,500 SH   SOLE   22,500 0 0
VENTAS INC COM 92276F100 5,797 105,000 SH   SOLE   105,000 0 0
VEREIT INC COM 92339V308 3,618 80,000 SH   SOLE   80,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 7,142 170,000 SH   SOLE   170,000 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 3,281 42,500 SH   SOLE   42,500 0 0