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 4,941 225,000 SH   SOLE   225,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 9,811 210,000 SH   SOLE   210,000 0 0
APARTMENT INCOME REIT CORP COM 03750L109 2,846 60,000 SH   SOLE   60,000 0 0
BOSTON PROPERTIES INC COM 101121101 8,079 70,500 SH   SOLE   70,500 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 10,873 475,000 SH   SOLE   475,000 0 0
CAMDEN PPTY TR SH BEN INT 133131102 1,194 9,000 SH   SOLE   9,000 0 0
CARETRUST REIT INC COM 14174T107 1,162 50,000 SH   SOLE   50,000 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 3,043 175,000 SH   SOLE   175,000 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 1,187 25,000 SH   SOLE   25,000 0 0
CYRUSONE INC COM 23283R100 2,503 35,000 SH   SOLE   35,000 0 0
DOUGLAS EMMETT INC COM 25960P109 841 25,000 SH   SOLE   25,000 0 0
EASTGROUP PPTYS INC COM 277276101 5,509 33,500 SH   SOLE   33,500 0 0
EQUINIX INC COM 29444U700 2,809 3,500 SH   SOLE   3,500 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 1,115 15,000 SH   SOLE   15,000 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 3,380 125,000 SH   SOLE   125,000 0 0
ESSEX PPTY TR INC COM 297178105 4,800 16,000 SH   SOLE   16,000 0 0
EXTRA SPACE STORAGE INC COM 30225T102 4,177 25,500 SH   SOLE   25,500 0 0
GETTY RLTY CORP NEW COM 374297109 2,959 95,000 SH   SOLE   95,000 0 0
HEALTHCARE RLTY TR COM 421946104 4,077 135,000 SH   SOLE   135,000 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 8,822 265,000 SH   SOLE   265,000 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 1,775 165,000 SH   SOLE   165,000 0 0
HIGHWOODS PPTYS INC COM 431284108 2,259 50,000 SH   SOLE   50,000 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 1,276 70,000 SH   SOLE   70,000 0 0
INVITATION HOMES INC COM 46187W107 4,288 115,000 SH   SOLE   115,000 0 0
KB HOME COM 48666K109 1,629 40,000 SH   SOLE   40,000 0 0
KILROY RLTY CORP COM 49427F108 5,919 85,000 SH   SOLE   85,000 0 0
MARCUS CORP DEL COM 566330106 1,591 75,000 SH   SOLE   75,000 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 6,775 185,000 SH   SOLE   185,000 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 9,376 200,000 SH   SOLE   200,000 0 0
PARAMOUNT GROUP INC COM 69924R108 5,790 575,000 SH   SOLE   575,000 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 2,649 112,500 SH   SOLE   112,500 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 2,415 325,000 SH   SOLE   325,000 0 0
PUBLIC STORAGE COM 74460D109 7,668 25,500 SH   SOLE   25,500 0 0
REALTY INCOME CORP COM 756109104 5,006 75,000 SH   SOLE   75,000 0 0
REXFORD INDL RLTY INC COM 76169C100 9,397 165,000 SH   SOLE   165,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 3,262 25,000 SH   SOLE   25,000 0 0
STAG INDL INC COM 85254J102 2,994 80,000 SH   SOLE   80,000 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 4,223 340,000 SH   SOLE   340,000 0 0
UDR INC COM 902653104 8,082 165,000 SH   SOLE   165,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 10,034 215,000 SH   SOLE   215,000 0 0
WELLTOWER INC COM 95040Q104 6,482 78,000 SH   SOLE   78,000 0 0
WHITESTONE REIT COM 966084204 1,568 190,000 SH   SOLE   190,000 0 0