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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 HOMES 4 RENT CL A 02665T306   43,735,156 1,390,625 SH   SOLE   1,390,625 0 0
APARTMENT INCOME REIT CORP COM 03750L109   41,220,998 1,151,103 SH   SOLE   1,151,103 0 0
CAMDEN PPTY TR SH BEN INT 133131102   46,581,356 444,309 SH   SOLE   444,309 0 0
CUBESMART COM 229663109   25,971,018 561,900 SH   SOLE   561,900 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   23,120,613 1,196,100 SH   SOLE   1,196,100 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   38,128,935 1,735,500 SH   SOLE   1,735,500 0 0
INVENTRUST PPTYS CORP COM NEW 46124J201   16,228,696 693,534 SH   SOLE   693,534 0 0
LIFE STORAGE INC COM 53223X107   29,206,852 222,800 SH   SOLE   222,800 0 0
PHYSICIANS RLTY TR COM 71943U104   36,661,511 2,455,560 SH   SOLE   2,455,560 0 0
PROLOGIS INC. COM 74340W103   45,746,921 366,650 SH   SOLE   366,650 0 0