<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>ALEXANDRIA REAL ESTATE EQ IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015271109</cusip>
			<value>42685</value>
			<shrsOrPrnAmt>
				<sshPrnamt>649500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>649500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN TOWER CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03027X100</cusip>
			<value>26264</value>
			<shrsOrPrnAmt>
				<sshPrnamt>358950</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>358950</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVALONBAY CMNTYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053484101</cusip>
			<value>38078</value>
			<shrsOrPrnAmt>
				<sshPrnamt>282250</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>282250</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKSTONE MTG TR INC</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>09257W100</cusip>
			<value>14725</value>
			<shrsOrPrnAmt>
				<sshPrnamt>596150</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>596150</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRE PROPERTIES INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>05564E106</cusip>
			<value>32470</value>
			<shrsOrPrnAmt>
				<sshPrnamt>649133</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>649133</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROOKFIELD OFFICE PPTYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>112900105</cusip>
			<value>44322</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2657200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2657200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROOKFIELD RESIDENTIAL PPTYS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11283W104</cusip>
			<value>24256</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1099547</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1099547</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DDR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23317H102</cusip>
			<value>14898</value>
			<shrsOrPrnAmt>
				<sshPrnamt>894750</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>894750</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDUCATION RLTY TR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28140H104</cusip>
			<value>16574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1620165</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1620165</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY LIFESTYLE PPTYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29472R108</cusip>
			<value>23836</value>
			<shrsOrPrnAmt>
				<sshPrnamt>303299</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>303299</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
			<titleOfClass>SH BEN INT</titleOfClass>
			<cusip>29476L107</cusip>
			<value>39132</value>
			<shrsOrPrnAmt>
				<sshPrnamt>674000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>674000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST INDUSTRIAL REALTY TRUS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>32054K103</cusip>
			<value>11937</value>
			<shrsOrPrnAmt>
				<sshPrnamt>786874</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>786874</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FOREST CITY ENTERPRISES INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>345550107</cusip>
			<value>26812</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1497027</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1497027</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL GROWTH PPTYS INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370023103</cusip>
			<value>21015</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1057600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1057600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HFF INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>40418F108</cusip>
			<value>10231</value>
			<shrsOrPrnAmt>
				<sshPrnamt>575754</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>575754</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOWARD HUGHES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44267D107</cusip>
			<value>23171</value>
			<shrsOrPrnAmt>
				<sshPrnamt>206714</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>206714</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUDSON PAC PPTYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444097109</cusip>
			<value>35849</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1684641</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1684641</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PARKWAY PPTYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70159Q104</cusip>
			<value>37680</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2248223</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2248223</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>POST PPTYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>737464107</cusip>
			<value>52522</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1061265</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1061265</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74460D109</cusip>
			<value>16230</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>105850</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REALOGY HLDGS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75605Y106</cusip>
			<value>10951</value>
			<shrsOrPrnAmt>
				<sshPrnamt>227950</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>227950</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RLJ LODGING TR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74965L101</cusip>
			<value>28597</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1271552</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1271552</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STRATEGIC HOTELS &amp; RESORTS I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>86272T106</cusip>
			<value>16432</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1854654</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1854654</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
