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
AIRBNB INC COM CL A 009066101 11,364 66,162 SH   OTR 1 66,162 0 0
AIRBNB INC COM CL A 009066101 1,105 6,434 SH   SOLE 0 6,434 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 12,880 63,998 SH   OTR 1 63,998 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 10,953 54,423 SH   SOLE 0 54,423 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 21,873 546,421 SH   OTR 1 546,421 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 8,337 208,272 SH   SOLE 0 208,272 0 0
AMERICAN TOWER CORP NEW COM 03027X100 23,088 91,904 SH   OTR 1 91,904 0 0
AMERICAN TOWER CORP NEW COM 03027X100 11,284 44,916 SH   SOLE 0 44,916 0 0
AVALONBAY CMNTYS INC COM 053484101 12,936 52,084 SH   OTR 1 52,084 0 0
AVALONBAY CMNTYS INC COM 053484101 5,878 23,668 SH   SOLE 0 23,668 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100 33,666 435,186 SH   OTR 1 435,186 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100 10,789 139,465 SH   SOLE 0 139,465 0 0
CAMDEN PPTY TR SH BEN INT 133131102 16,517 99,381 SH   OTR 1 99,381 0 0
CAMDEN PPTY TR SH BEN INT 133131102 6,840 41,158 SH   SOLE 0 41,158 0 0
CHINDATA GROUP HLDGS LTD ADS 16955F107 18,486 2,924,933 SH   OTR 1 2,924,933 0 0
CHINDATA GROUP HLDGS LTD ADS 16955F107 5,516 872,720 SH   SOLE 0 872,720 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 31,281 169,454 SH   OTR 1 169,454 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 15,259 82,662 SH   SOLE 0 82,662 0 0
DIGITALBRIDGE GROUP INC CL A COM 25401T108 33,597 4,666,205 SH   OTR 1 4,666,205 0 0
DIGITALBRIDGE GROUP INC CL A COM 25401T108 14,811 2,057,020 SH   SOLE 0 2,057,020 0 0
DRIVE SHACK INC COM 262077100 6,509 4,226,586 SH   OTR 1 4,226,586 0 0
DRIVE SHACK INC COM 262077100 3,844 2,495,902 SH   SOLE 0 2,495,902 0 0
DUKE REALTY CORP COM NEW 264411505 3,971 68,401 SH   OTR 1 68,401 0 0
DUKE REALTY CORP COM NEW 264411505 819 14,099 SH   SOLE 0 14,099 0 0
EQUINIX INC COM 29444U700 18,737 25,265 SH   OTR 1 25,265 0 0
EQUINIX INC COM 29444U700 11,305 15,244 SH   SOLE 0 15,244 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 15,483 202,451 SH   OTR 1 202,451 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 7,567 98,936 SH   SOLE 0 98,936 0 0
ESSEX PPTY TR INC COM 297178105 3,455 10,000 SH   OTR 1 10,000 0 0
ESSEX PPTY TR INC COM 297178105 1,488 4,306 SH   SOLE 0 4,306 0 0
EXTRA SPACE STORAGE INC COM 30225T102 19,399 94,354 SH   OTR 1 94,354 0 0
EXTRA SPACE STORAGE INC COM 30225T102 9,422 45,827 SH   SOLE 0 45,827 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 34,403 1,336,049 SH   OTR 1 1,336,049 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 13,131 509,961 SH   SOLE 0 509,961 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 10,105 257,446 SH   OTR 1 257,446 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 4,418 112,573 SH   SOLE 0 112,573 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 1,756 51,154 SH   OTR 1 51,154 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 966 28,146 SH   SOLE 0 28,146 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101 11,373 55,372 SH   OTR 1 55,372 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101 1,950 9,494 SH   SOLE 0 9,494 0 0
INVITATION HOMES INC COM 46187W107 28,895 719,139 SH   OTR 1 719,139 0 0
INVITATION HOMES INC COM 46187W107 11,209 278,982 SH   SOLE 0 278,982 0 0
KILROY RLTY CORP COM 49427F108 2,058 26,927 SH   OTR 1 26,927 0 0
KILROY RLTY CORP COM 49427F108 235 3,073 SH   SOLE 0 3,073 0 0
LIFE STORAGE INC COM 53223X107 19,296 137,408 SH   OTR 1 137,408 0 0
LIFE STORAGE INC COM 53223X107 8,417 59,940 SH   SOLE 0 59,940 0 0
MGM RESORTS INTERNATIONAL COM 552953101 15,164 361,575 SH   OTR 1 361,575 0 0
MGM RESORTS INTERNATIONAL COM 552953101 5,505 131,253 SH   SOLE 0 131,253 0 0
MID-AMER APT CMNTYS INC COM 59522J103 10,169 48,549 SH   OTR 1 48,549 0 0
MID-AMER APT CMNTYS INC COM 59522J103 3,362 16,051 SH   SOLE 0 16,051 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 19,035 303,296 SH   OTR 1 303,296 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 8,639 137,654 SH   SOLE 0 137,654 0 0
PROLOGIS INC. COM 74340W103 27,930 172,960 SH   OTR 1 172,960 0 0
PROLOGIS INC. COM 74340W103 11,801 73,081 SH   SOLE 0 73,081 0 0
REXFORD INDL RLTY INC COM 76169C100 19,849 266,114 SH   OTR 1 266,114 0 0
REXFORD INDL RLTY INC COM 76169C100 10,117 135,640 SH   SOLE 0 135,640 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 11,582 33,659 SH   OTR 1 33,659 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 6,091 17,702 SH   SOLE 0 17,702 0 0
SMARTRENT INC COM CL A 83193G107 657 129,825 SH   SOLE 0 129,825 0 0
SUN CMNTYS INC COM 866674104 15,251 87,007 SH   OTR 1 87,007 0 0
SUN CMNTYS INC COM 866674104 7,547 43,057 SH   SOLE 0 43,057 0 0
SWITCH INC CL A 87105L104 28,306 918,416 SH   OTR 1 918,416 0 0
SWITCH INC CL A 87105L104 18,583 602,951 SH   SOLE 0 602,951 0 0
TERRENO RLTY CORP COM 88146M101 14,605 197,228 SH   OTR 1 197,228 0 0
TERRENO RLTY CORP COM 88146M101 5,720 77,239 SH   SOLE 0 77,239 0 0
VNET GROUP INC SPONSORED ADS A 90138A103 8,561 1,468,430 SH   OTR 1 1,468,430 0 0
VNET GROUP INC SPONSORED ADS A 90138A103 3,576 613,353 SH   SOLE 0 613,353 0 0
WEWORK INC CL A 96209A104 29,139 4,272,529 SH   OTR 1 4,272,529 0 0
WEWORK INC CL A 96209A104 10,332 1,514,964 SH   SOLE 0 1,514,964 0 0