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
XENIA HOTELS & RESORTS INC COM 984017103 74,766 4,379,991 SH   SOLE   4,379,991 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 27,355 5,449,188 SH   SOLE   5,449,188 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 3,538 188,299 SH   SOLE   188,299 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 3,265 550,526 SH   SOLE   550,526 0 0