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

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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 10,539 407,208 SH   SOLE   407,208 0 0
AVALONBAY CMNTYS INC COM 053484101 27,825 132,945 SH   SOLE   132,945 0 0
BOSTON PROPERTIES INC COM 101121101 23,942 174,000 SH   SOLE   174,000 0 0
DOUGLAS EMMETT INC COM 25960P109 10,472 239,000 SH   SOLE   239,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 36,002 445,759 SH   SOLE   445,759 0 0
ESSEX PPTY TR INC COM 297178105 13,176 43,879 SH   SOLE   43,879 0 0
KILROY RLTY CORP COM 49427F108 14,152 169,000 SH   SOLE   169,000 0 0
PARAMOUNT GROUP INC COM 69924R108 13,460 968,836 SH   SOLE   968,836 0 0
PROLOGIS INC COM 74340W103 31,855 358,041 SH   SOLE   358,041 0 0
SL GREEN RLTY CORP COM 78440X101 18,614 202,977 SH   SOLE   202,977 0 0
SIMON PPTY GROUP INC NEW COM 828806109 24,307 163,488 SH   SOLE   163,488 0 0
TAUBMAN CTRS INC COM 876664103 14,196 457,500 SH   SOLE   457,500 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 70 9,000 SH   SOLE   9,000 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 249 16,867 SH   SOLE   16,867 0 0