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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AGREE REALTY CORPCOM00849210076,0601,130,000SH DFND1,2,301,130,0000
ALEXANDRIA REAL ESTATE EQ INCOM0152711091,004,0376,111,000SH DFND1,2,306,111,0000
AMERICOLD RLTY TRCOM03064D108643,43016,725,500SH DFND1,2,3016,725,5000
BOSTON PROPERTIES INCCOM101121101637,2086,292,792SH DFND1,2,306,292,7920
CLEAR CHANNEL OUTDOOR HLDGSCOM18453H1062,5081,393,086SH DFND1,2,301,393,0860
COUSINS PPTYS INCCOM NEW222795502127,9493,619,500SH DFND1,2,303,619,5000
DIGITAL RLTY TR INCCOM2538681031,389,6409,866,800SH DFND1,2,309,866,8000
EQUINIX INCCOM29444U700558,963822,500SH DFND1,2,30822,5000
EQUITY RESIDENTIALSH BEN INT29476L107905,18812,637,000SH DFND1,2,3012,637,0000
ESSEX PPTY TR INCCOM297178105148,968548,000SH DFND1,2,30548,0000
EXTRA SPACE STORAGE INCCOM30225T102435,1623,283,000SH DFND1,2,303,283,0000
FEDERAL RLTY INVT TRSH BEN INT NEW313747206108,4501,069,000SH DFND1,2,301,069,0000
HEALTHCARE TR AMER INCCL A NEW42225P501313,20711,356,300SH DFND1,2,3011,356,3000
HEALTHPEAK PROPERTIES INCCOM42250P103138,7364,371,000SH DFND1,2,304,371,0000
HOST HOTELS & RESORTS INCCOM44107P104106,1306,298,500SH DFND1,2,306,298,5000
IHEARTMEDIA INCCOM CL A45174J50910,535580,437SH DFND1,2,30580,4370
INVITATION HOMES INCCOM46187W107629,17919,668,000SH DFND1,2,3019,668,0000
JBG SMITH PPTYSCOM46590V100229,5087,219,500SH DFND1,2,307,219,5000
KILROY RLTY CORPCOM49427F108323,1754,924,200SH DFND1,2,304,924,2000
KIMCO RLTY CORPCOM49446R109404,68121,583,000SH DFND1,2,3021,583,0000
LIFE STORAGE INCCOM53223X10758,124676,250SH DFND1,2,30676,2500
MID-AMER APT CMNTYS INCCOM59522J103589,4224,083,000SH DFND1,2,304,083,0000
PARK HOTELS & RESORTS INCCOM70051710525,5291,183,000SH DFND1,2,301,183,0000
PROLOGIS INC.COM74340W1032,522,22823,794,600SH DFND1,2,3023,794,6000
PUBLIC STORAGECOM74460D109540,8982,192,000SH DFND1,2,302,192,0000
QTS RLTY TR INCCOM CL A74736A10378,7291,269,000SH DFND1,2,301,269,0000
REALTY INCOME CORPCOM756109104153,9242,424,000SH DFND1,2,302,424,0000
REGENCY CTRS CORPCOM758849103189,4113,340,000SH DFND1,2,303,340,0000
RETAIL OPPORTUNITY INVTS CORCOM76131N10161,7033,888,000SH DFND1,2,303,888,0000
REXFORD INDL RLTY INCCOM76169C10068,2261,353,700SH DFND1,2,301,353,7000
RYMAN HOSPITALITY PPTYS INCCOM78377T10768,790887,500SH DFND1,2,30887,5000
SABRA HEALTH CARE REIT INCCOM78573L106111,3826,416,000SH DFND1,2,306,416,0000
SIMON PPTY GROUP INC NEWCOM828806109100,914887,000SH DFND1,2,30887,0000
SUN CMNTYS INCCOM866674104110,057733,519SH DFND1,2,30733,5190
TERRENO RLTY CORPCOM88146M101104,3901,807,000SH DFND1,2,301,807,0000
UDR INCCOM902653104138,1813,150,500SH DFND1,2,303,150,5000
URBAN EDGE PPTYSCOM91704F10469,0874,182,000SH DFND1,2,304,182,0000
VENTAS INCCOM92276F1001,038,21019,464,000SH DFND1,2,3019,464,0000
VEREIT INCCOM92339V3086,759175,000SH DFND1,2,30175,0000
VICI PPTYS INCCOM925652109182,6996,469,500SH DFND1,2,306,469,5000
WP CAREY INCCOM92936U10999,7721,410,000SH DFND1,2,301,410,0000