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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN HEALTHCARE REIT INC COM SHS 398182303   20,125,298 1,364,427 SH   SOLE   1,364,427 0 0
APARTMENT INVT & MGMT CO CL A 03748R747   10,237,500 1,250,000 SH   SOLE   1,250,000 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   47,094,635 2,008,300 SH   SOLE   2,008,300 0 0
BROOKDALE SR LIVING INC COM 112463104   26,137,593 3,954,250 SH   SOLE   3,954,250 0 0
CAMDEN PPTY TR SH BEN INT 133131102   40,241,467 408,958 SH   SOLE   408,958 0 0
CBRE GROUP INC CL A 12504L109   21,684,520 223,000 SH   SOLE   223,000 0 0
COPT DEFENSE PROPERTIES SHS BEN INT 22002T108   38,744,486 1,602,999 SH   SOLE   1,602,999 0 0
COUSINS PPTYS INC COM NEW 222795502   20,914,800 870,000 SH   SOLE   870,000 0 0
DIGITAL RLTY TR INC COM 253868103   46,148,399 320,386 SH   SOLE   320,386 0 0
EASTGROUP PPTYS INC COM 277276101   20,673,550 115,000 SH   SOLE   115,000 0 0
EQUINIX INC COM 29444U700   55,354,883 67,070 SH   SOLE   67,070 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   55,424,401 878,219 SH   SOLE   878,219 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101   47,022,584 460,464 SH   SOLE   460,464 0 0
FIRST INDL RLTY TR INC COM 32054K103   31,524,000 600,000 SH   SOLE   600,000 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   18,233,690 1,288,600 SH   SOLE   1,288,600 0 0
HIGHWOODS PPTYS INC COM 431284108   26,180,000 1,000,000 SH   SOLE   1,000,000 0 0
HOST HOTELS & RESORTS INC COM 44107P104   5,562,920 269,000 SH   SOLE   269,000 0 0
INDEPENDENCE RLTY TR INC COM 45378A106   45,053,284 2,793,136 SH   SOLE   2,793,136 0 0
INSPIRED ENTMT INC COM 45782N108   2,240,429 227,224 SH   SOLE   227,224 0 0
INVITATION HOMES INC COM 46187W107   53,700,770 1,508,025 SH   SOLE   1,508,025 0 0
IRON MTN INC DEL COM 46284V101   20,453,550 255,000 SH   SOLE   255,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739   40,455,000 450,000 SH Put SOLE   450,000 0 0
NATIONAL HEALTH INVS INC COM 63633D104   19,139,023 304,616 SH   SOLE   304,616 0 0
OMEGA HEALTHCARE INVS INC COM 681936100   36,562,508 1,154,484 SH   SOLE   1,154,484 0 0
PARK HOTELS & RESORTS INC COM 700517105   24,131,688 1,379,742 SH   SOLE   1,379,742 0 0
PUBLIC STORAGE COM 74460D109   1,160,240 4,000 SH   SOLE   4,000 0 0
REALTY INCOME CORP COM 756109104   9,900,300 183,000 SH   SOLE   183,000 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107   24,856,150 215,000 SH   SOLE   215,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109   21,126,150 135,000 SH   SOLE   135,000 0 0
SITE CTRS CORP COM 82981J109   40,714,884 2,779,173 SH   SOLE   2,779,173 0 0
STAG INDL INC COM 85254J102   52,973,011 1,378,070 SH   SOLE   1,378,070 0 0
STARWOOD PPTY TR INC COM 85571B105   12,096,350 595,000 SH   SOLE   595,000 0 0
SUN CMNTYS INC COM 866674104   41,899,722 325,865 SH   SOLE   325,865 0 0
TANGER INC COM 875465106   49,628,384 1,680,609 SH   SOLE   1,680,609 0 0
VESTA REAL ESTATE CORP ADS 92540K109   24,888,794 634,271 SH   SOLE   634,271 0 0
VICI PPTYS INC COM 925652109   27,853,650 935,000 SH   SOLE   935,000 0 0
VORNADO RLTY TR SH BEN INT 929042109   17,894,940 622,000 SH   SOLE   622,000 0 0
WELLTOWER INC COM 95040Q104   14,670,080 157,000 SH   SOLE   157,000 0 0