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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGREE REALTY CORP COM 008492100   76,137 1,230,000 SH   DFND 1,2,3 0 1,230,000 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   700,514 5,111,000 SH   DFND 1,2,3 0 5,111,000 0
AMERICAN CAMPUS CMNTYS INC COM 024835100   18,002 648,713 SH   DFND 1,2,3 0 648,713 0
AMERICAN HOMES 4 RENT CL A 02665T306   69,739 3,006,000 SH   DFND 1,2,3 0 3,006,000 0
AMERICOLD RLTY TR COM 03064D108   124,110 3,646,000 SH   DFND 1,2,3 0 3,646,000 0
AVALONBAY CMNTYS INC COM 053484101   348,351 2,367,000 SH   DFND 1,2,3 0 2,367,000 0
BOSTON PROPERTIES INC COM 101121101   582,229 6,312,792 SH   DFND 1,2,3 0 6,312,792 0
CLEAR CHANNEL OUTDOOR HLDGS COM 18453H106   572 893,144 SH   DFND 1,2,3 0 893,144 0
COUSINS PPTYS INC COM NEW 222795502   90,796 3,102,000 SH   DFND 1,2,3 0 3,102,000 0
CYRUSONE INC COM 23283R100   74,409 1,205,000 SH   DFND 1,2,3 0 1,205,000 0
DIGITAL RLTY TR INC COM 253868103   1,233,590 8,880,500 SH   DFND 1,2,3 0 8,880,500 0
EQUINIX INC COM 29444U700   71,826 115,000 SH   DFND 1,2,3 0 115,000 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   35,063 610,000 SH   DFND 1,2,3 0 610,000 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   874,616 14,173,000 SH   DFND 1,2,3 0 14,173,000 0
EXTRA SPACE STORAGE INC COM 30225T102   337,841 3,528,000 SH   DFND 1,2,3 0 3,528,000 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206   91,920 1,232,000 SH   DFND 1,2,3 0 1,232,000 0
HEALTHCARE TR AMER INC CL A NEW 42225P501   249,380 10,271,000 SH   DFND 1,2,3 0 10,271,000 0
HEALTHPEAK PROPERTIES INC COM 42250P103   142,683 5,982,500 SH   DFND 1,2,3 0 5,982,500 0
HOST HOTELS & RESORTS INC COM 44107P104   40,848 3,700,000 SH   DFND 1,2,3 0 3,700,000 0
IHEARTMEDIA INC COM CL A 45174J509   318 43,453 SH   DFND 1,2,3 0 43,453 0
INVITATION HOMES INC COM 46187W107   371,966 17,406,000 SH   DFND 1,2,3 0 17,406,000 0
JBG SMITH PPTYS COM 46590V100   123,013 3,864,703 SH   DFND 1,2,3 0 3,864,703 0
KILROY RLTY CORP COM 49427F108   354,682 5,568,000 SH   DFND 1,2,3 0 5,568,000 0
KIMCO RLTY CORP COM 49446R109   140,611 14,540,900 SH   DFND 1,2,3 0 14,540,900 0
MID AMER APT CMNTYS INC COM 59522J103   367,302 3,565,000 SH   DFND 1,2,3 0 3,565,000 0
PROLOGIS INC. COM 74340W103   1,994,984 24,822,500 SH   DFND 1,2,3 0 24,822,500 0
PUBLIC STORAGE COM 74460D109   707,647 3,563,000 SH   DFND 1,2,3 0 3,563,000 0
QTS RLTY TR INC COM CL A 74736A103   42,695 736,000 SH   DFND 1,2,3 0 736,000 0
REALTY INCOME CORP COM 756109104   156,311 3,135,000 SH   DFND 1,2,3 0 3,135,000 0
REGENCY CTRS CORP COM 758849103   128,356 3,340,000 SH   DFND 1,2,3 0 3,340,000 0
REXFORD INDL RLTY INC COM 76169C100   47,736 1,164,000 SH   DFND 1,2,3 0 1,164,000 0
SABRA HEALTH CARE REIT INC COM 78573L106   30,554 2,798,000 SH   DFND 1,2,3 0 2,798,000 0
SIMON PPTY GROUP INC NEW COM 828806109   352,393 6,423,500 SH   DFND 1,2,3 0 6,423,500 0
SUN CMNTYS INC COM 866674104   75,974 608,519 SH   DFND 1,2,3 0 608,519 0
SUNSTONE HOTEL INVS INC NEW COM 867892101   30,050 3,450,000 SH   DFND 1,2,3 0 3,450,000 0
TERRENO RLTY CORP COM 88146M101   79,385 1,534,000 SH   DFND 1,2,3 0 1,534,000 0
UDR INC COM 902653104   128,109 3,506,000 SH   DFND 1,2,3 0 3,506,000 0
URBAN EDGE PPTYS COM 91704F104   28,198 3,200,700 SH   DFND 1,2,3 0 3,200,700 0
VENTAS INC COM 92276F100   500,090 18,660,063 SH   DFND 1,2,3 0 18,660,063 0
VICI PPTYS INC COM 925652109   108,011 6,491,058 SH   DFND 1,2,3 0 6,491,058 0