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 6,580 62,642 SH   OTR 1 62,642 0 0
AIRBNB INC COM CL A 009066101 6,123 58,288 SH   SOLE 0 58,288 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 14,427 102,908 SH   OTR 1 102,908 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 12,611 89,960 SH   SOLE 0 89,960 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 15,284 465,822 SH   OTR 1 465,822 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 7,641 232,882 SH   SOLE 0 232,882 0 0
AMERICAN TOWER CORP NEW COM 03027X100 13,978 65,104 SH   OTR 1 65,104 0 0
AMERICAN TOWER CORP NEW COM 03027X100 9,110 42,430 SH   SOLE 0 42,430 0 0
AVALONBAY CMNTYS INC COM 053484101 7,595 41,235 SH   OTR 1 41,235 0 0
AVALONBAY CMNTYS INC COM 053484101 4,663 25,318 SH   SOLE 0 25,318 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100 9,169 284,234 SH   OTR 1 284,234 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100 6,111 189,419 SH   SOLE 0 189,419 0 0
CAMDEN PPTY TR SH BEN INT 133131102 5,735 48,012 SH   OTR 1 48,012 0 0
CAMDEN PPTY TR SH BEN INT 133131102 3,792 31,747 SH   SOLE 0 31,747 0 0
CHINDATA GROUP HLDGS LTD ADS 16955F107 12,839 1,588,972 SH   OTR 1 1,588,972 0 0
CHINDATA GROUP HLDGS LTD ADS 16955F107 6,447 797,859 SH   SOLE 0 797,859 0 0
CROWN CASTLE INC COM 22822V101 19,550 135,250 SH   OTR 1 135,250 0 0
CROWN CASTLE INC COM 22822V101 11,155 77,172 SH   SOLE 0 77,172 0 0
DIGITAL RLTY TR INC COM 253868103 6,602 66,566 SH   OTR 1 66,566 0 0
DIGITAL RLTY TR INC COM 253868103 4,931 49,719 SH   SOLE 0 49,719 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603 9,038 722,457 SH   OTR 1 722,457 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603 7,445 595,160 SH   SOLE 0 595,160 0 0
DRIVE SHACK INC COM 262077100 2,851 4,598,846 SH   OTR 1 4,598,846 0 0
DRIVE SHACK INC COM 262077100 2,827 4,559,997 SH   SOLE 0 4,559,997 0 0
DUKE REALTY CORP COM NEW 264411505 3,297 68,401 SH   OTR 1 68,401 0 0
DUKE REALTY CORP COM NEW 264411505 1,695 35,157 SH   SOLE 0 35,157 0 0
EQUINIX INC COM 29444U700 17,856 31,390 SH   OTR 1 31,390 0 0
EQUINIX INC COM 29444U700 10,447 18,366 SH   SOLE 0 18,366 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 5,505 87,608 SH   OTR 1 87,608 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 3,296 52,451 SH   SOLE 0 52,451 0 0
EXTRA SPACE STORAGE INC COM 30225T102 5,275 30,541 SH   OTR 1 30,541 0 0
EXTRA SPACE STORAGE INC COM 30225T102 5,990 34,681 SH   SOLE 0 34,681 0 0
FORTRESS TRANS INFRST INVS L CL A COM SHS 34960P101 9,988 666,113 SH   OTR 1 666,113 0 0
FORTRESS TRANS INFRST INVS L CL A COM SHS 34960P101 7,783 519,032 SH   SOLE 0 519,032 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106 2,564 1,068,313 SH   OTR 1 1,068,313 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106 1,246 519,032 SH   SOLE 0 519,032 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 2,639 149,410 SH   OTR 1 149,410 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 1,616 91,479 SH   SOLE 0 91,479 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 1,172 51,154 SH   OTR 1 51,154 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 2,083 90,885 SH   SOLE 0 90,885 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101 4,539 51,289 SH   OTR 1 51,289 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101 1,343 15,170 SH   SOLE 0 15,170 0 0
INVITATION HOMES INC COM 46187W107 19,586 579,986 SH   OTR 1 579,986 0 0
INVITATION HOMES INC COM 46187W107 9,290 275,106 SH   SOLE 0 275,106 0 0
LIFE STORAGE INC COM 53223X107 9,708 87,650 SH   OTR 1 87,650 0 0
LIFE STORAGE INC COM 53223X107 8,721 78,735 SH   SOLE 0 78,735 0 0
MGM RESORTS INTERNATIONAL COM 552953101 9,894 332,916 SH   OTR 1 332,916 0 0
MGM RESORTS INTERNATIONAL COM 552953101 6,568 220,992 SH   SOLE 0 220,992 0 0
MID-AMER APT CMNTYS INC COM 59522J103 5,746 37,057 SH   OTR 1 37,057 0 0
MID-AMER APT CMNTYS INC COM 59522J103 3,767 24,293 SH   SOLE 0 24,293 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 6,557 157,691 SH   OTR 1 157,691 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 7,680 184,707 SH   SOLE 0 184,707 0 0
PROLOGIS INC. COM 74340W103 20,128 198,110 SH   OTR 1 198,110 0 0
PROLOGIS INC. COM 74340W103 11,514 113,326 SH   SOLE 0 113,326 0 0
REXFORD INDL RLTY INC COM 76169C100 20,751 399,061 SH   OTR 1 399,061 0 0
REXFORD INDL RLTY INC COM 76169C100 13,150 252,888 SH   SOLE 0 252,888 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 8,632 30,324 SH   OTR 1 30,324 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 4,472 15,710 SH   SOLE 0 15,710 0 0
SUN CMNTYS INC COM 866674104 12,369 91,400 SH   OTR 1 91,400 0 0
SUN CMNTYS INC COM 866674104 7,851 58,013 SH   SOLE 0 58,013 0 0
TERRENO RLTY CORP COM 88146M101 9,139 172,467 SH   OTR 1 172,467 0 0
TERRENO RLTY CORP COM 88146M101 4,740 89,447 SH   SOLE 0 89,447 0 0
WEWORK INC CL A 96209A104 8,694 3,280,619 SH   OTR 1 3,280,619 0 0
WEWORK INC CL A 96209A104 4,841 1,826,918 SH   SOLE 0 1,826,918 0 0