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		<nameOfIssuer>AMERICAN REALTY CAPITAL PROP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>02917T104</cusip>
		<value>2</value>
		<shrsOrPrnAmt>
			<sshPrnamt>132</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ALEXANDRIA REAL ESTATE EQUITY</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>015271109</cusip>
		<value>734</value>
		<shrsOrPrnAmt>
			<sshPrnamt>11537</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>11537</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>APOLLO COMMERCIAL REAL ESTATE</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>03762U105</cusip>
		<value>390</value>
		<shrsOrPrnAmt>
			<sshPrnamt>24019</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AVALONBAY COMMUNITIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>053484101</cusip>
		<value>1382</value>
		<shrsOrPrnAmt>
			<sshPrnamt>11691</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>11148</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>AVIV REIT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>05381L101</cusip>
		<value>762</value>
		<shrsOrPrnAmt>
			<sshPrnamt>32149</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>16101</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>STRATEGIC HOTELS &amp; RESORTS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>86272T106</cusip>
		<value>817</value>
		<shrsOrPrnAmt>
			<sshPrnamt>86500</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>86500</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>BOSTON PROPERTIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>101121101</cusip>
		<value>2280</value>
		<shrsOrPrnAmt>
			<sshPrnamt>22718</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>21786</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CAMPUS CREST COMMUNITIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>13466Y105</cusip>
		<value>347</value>
		<shrsOrPrnAmt>
			<sshPrnamt>36888</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CUBESMART</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>229663109</cusip>
		<value>638</value>
		<shrsOrPrnAmt>
			<sshPrnamt>40000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>40000</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>DDR CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>23317H102</cusip>
		<value>767</value>
		<shrsOrPrnAmt>
			<sshPrnamt>49900</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>49900</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>DOUGLAS EMMETT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>25960P109</cusip>
		<value>38</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1642</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
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	<infoTable>
		<nameOfIssuer>DIGITAL REALTY TRUST INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>253868103</cusip>
		<value>1440</value>
		<shrsOrPrnAmt>
			<sshPrnamt>29307</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>22330</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>EPR PROPERTIES</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>26884U109</cusip>
		<value>444</value>
		<shrsOrPrnAmt>
			<sshPrnamt>9038</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>29476L107</cusip>
		<value>981</value>
		<shrsOrPrnAmt>
			<sshPrnamt>18906</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>18178</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EQUITY ONE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>294752100</cusip>
		<value>498</value>
		<shrsOrPrnAmt>
			<sshPrnamt>22200</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>22200</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ESSEX PROPERTY TRUST INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>297178105</cusip>
		<value>1262</value>
		<shrsOrPrnAmt>
			<sshPrnamt>8795</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>8376</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>EXTRA SPACE STORAGE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>30225T102</cusip>
		<value>1062</value>
		<shrsOrPrnAmt>
			<sshPrnamt>25198</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>24211</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GENERAL GROWTH PROPERTIES</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>370023103</cusip>
		<value>1181</value>
		<shrsOrPrnAmt>
			<sshPrnamt>58842</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>56502</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GLIMCHER REALTY TRUST</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>379302102</cusip>
		<value>698</value>
		<shrsOrPrnAmt>
			<sshPrnamt>74606</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>74606</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HCP INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>40414L109</cusip>
		<value>2128</value>
		<shrsOrPrnAmt>
			<sshPrnamt>58601</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>57465</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HILTON WORLDWIDE HOLDINGS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>43300A104</cusip>
		<value>216</value>
		<shrsOrPrnAmt>
			<sshPrnamt>9700</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>9700</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>STARWOOD HOTELS &amp; RESORTS</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>85590A401</cusip>
		<value>673</value>
		<shrsOrPrnAmt>
			<sshPrnamt>8473</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>8473</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HUDSON PACIFIC PROPERTIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>444097109</cusip>
		<value>418</value>
		<shrsOrPrnAmt>
			<sshPrnamt>19100</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>19100</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HOST HOTELS &amp; RESORTS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>44107P104</cusip>
		<value>611</value>
		<shrsOrPrnAmt>
			<sshPrnamt>31416</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>31416</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>KIMCO REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>49446R109</cusip>
		<value>926</value>
		<shrsOrPrnAmt>
			<sshPrnamt>46886</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>46886</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>KILROY REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>49427F108</cusip>
		<value>886</value>
		<shrsOrPrnAmt>
			<sshPrnamt>17663</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>17078</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>LASALLE HOTEL PROPERTIES</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>517942108</cusip>
		<value>36</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1178</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MACERICH CO/THE</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>554382101</cusip>
		<value>1098</value>
		<shrsOrPrnAmt>
			<sshPrnamt>18651</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>18001</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ANNALY CAPITAL MANAGEMENT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>035710409</cusip>
		<value>74</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7445</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CORPORATE OFFICE PROPERTIES</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>22002T108</cusip>
		<value>360</value>
		<shrsOrPrnAmt>
			<sshPrnamt>15200</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>15200</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>OMEGA HEALTHCARE INVESTORS</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>681936100</cusip>
		<value>377</value>
		<shrsOrPrnAmt>
			<sshPrnamt>12652</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PROLOGIS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>74340W103</cusip>
		<value>2138</value>
		<shrsOrPrnAmt>
			<sshPrnamt>57863</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>56034</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>74460D109</cusip>
		<value>1076</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7151</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>6709</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>QTS REALTY TRUST INC-CL A</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>74736A103</cusip>
		<value>697</value>
		<shrsOrPrnAmt>
			<sshPrnamt>28144</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>20450</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>RETAIL OPPORTUNITY INVESTMENT</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>76131N101</cusip>
		<value>771</value>
		<shrsOrPrnAmt>
			<sshPrnamt>52363</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>48600</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SABRA HEALTH CARE REIT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>78573L106</cusip>
		<value>303</value>
		<shrsOrPrnAmt>
			<sshPrnamt>11596</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SUNSTONE HOTEL INVESTORS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>867892101</cusip>
		<value>588</value>
		<shrsOrPrnAmt>
			<sshPrnamt>43872</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>43872</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SL GREEN REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>78440X101</cusip>
		<value>1007</value>
		<shrsOrPrnAmt>
			<sshPrnamt>10899</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>10037</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SIMON PROPERTY GROUP INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>828806109</cusip>
		<value>4282</value>
		<shrsOrPrnAmt>
			<sshPrnamt>28144</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>27415</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SPIRIT REALTY CAPITAL INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>84860W102</cusip>
		<value>223</value>
		<shrsOrPrnAmt>
			<sshPrnamt>22678</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>STAG INDUSTRIAL INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>85254J102</cusip>
		<value>1370</value>
		<shrsOrPrnAmt>
			<sshPrnamt>67206</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>48342</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EXTENDED STAY AMERICA INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>30224P200</cusip>
		<value>171</value>
		<shrsOrPrnAmt>
			<sshPrnamt>6500</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>6500</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>STARWOOD PROPERTY TRUST INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>85571B105</cusip>
		<value>474</value>
		<shrsOrPrnAmt>
			<sshPrnamt>17101</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>TAUBMAN CENTERS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>876664103</cusip>
		<value>55</value>
		<shrsOrPrnAmt>
			<sshPrnamt>854</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>TERRENO REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>88146M101</cusip>
		<value>937</value>
		<shrsOrPrnAmt>
			<sshPrnamt>52930</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>52930</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>UDR INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>902653104</cusip>
		<value>481</value>
		<shrsOrPrnAmt>
			<sshPrnamt>20600</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>20600</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VORNADO REALTY TRUST</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>929042109</cusip>
		<value>980</value>
		<shrsOrPrnAmt>
			<sshPrnamt>11041</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>11041</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VENTAS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>92276F100</cusip>
		<value>1981</value>
		<shrsOrPrnAmt>
			<sshPrnamt>34583</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>0</Shared>
			<None>33007</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ALEXANDRIA REAL ESTATE EQUITY</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>015271109</cusip>
		<value>1580</value>
		<shrsOrPrnAmt>
			<sshPrnamt>24834</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>24834</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AVALONBAY COMMUNITIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>053484101</cusip>
		<value>5646</value>
		<shrsOrPrnAmt>
			<sshPrnamt>47755</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>32793</Shared>
			<None>14962</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AVIV REIT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>05381L101</cusip>
		<value>799</value>
		<shrsOrPrnAmt>
			<sshPrnamt>33713</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>33713</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>BOSTON PROPERTIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>101121101</cusip>
		<value>8055</value>
		<shrsOrPrnAmt>
			<sshPrnamt>80256</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>58328</Shared>
			<None>21928</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CORPORATE OFFICE PROPERTIES</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>22002T108</cusip>
		<value>1464</value>
		<shrsOrPrnAmt>
			<sshPrnamt>61800</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>43600</Shared>
			<None>18200</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CUBESMART</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>229663109</cusip>
		<value>2839</value>
		<shrsOrPrnAmt>
			<sshPrnamt>178100</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>121100</Shared>
			<None>57000</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>DDR CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>23317H102</cusip>
		<value>1513</value>
		<shrsOrPrnAmt>
			<sshPrnamt>98400</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>35300</Shared>
			<None>63100</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>DIGITAL REALTY TRUST INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>253868103</cusip>
		<value>3719</value>
		<shrsOrPrnAmt>
			<sshPrnamt>75723</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>43413</Shared>
			<None>32310</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EQUITY ONE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>294752100</cusip>
		<value>2284</value>
		<shrsOrPrnAmt>
			<sshPrnamt>101776</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>65624</Shared>
			<None>36152</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>29476L107</cusip>
		<value>1986</value>
		<shrsOrPrnAmt>
			<sshPrnamt>38294</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>38294</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ESSEX PROPERTY TRUST INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>297178105</cusip>
		<value>4799</value>
		<shrsOrPrnAmt>
			<sshPrnamt>33442</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>23553</Shared>
			<None>9889</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EXTENDED STAY AMERICA INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>30224P200</cusip>
		<value>766</value>
		<shrsOrPrnAmt>
			<sshPrnamt>29190</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>19690</Shared>
			<None>9500</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EXTRA SPACE STORAGE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>30225T102</cusip>
		<value>5118</value>
		<shrsOrPrnAmt>
			<sshPrnamt>121482</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>80500</Shared>
			<None>40982</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GENERAL GROWTH PROPERTIES</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>370023103</cusip>
		<value>4798</value>
		<shrsOrPrnAmt>
			<sshPrnamt>239072</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>161531</Shared>
			<None>77541</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GLIMCHER REALTY TRUST</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>379302102</cusip>
		<value>3084</value>
		<shrsOrPrnAmt>
			<sshPrnamt>329537</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>217788</Shared>
			<None>111749</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HEALTH CARE REIT INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>42217K106</cusip>
		<value>3112</value>
		<shrsOrPrnAmt>
			<sshPrnamt>58083</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>58083</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HILTON WORLDWIDE HOLDINGS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>43300A104</cusip>
		<value>1008</value>
		<shrsOrPrnAmt>
			<sshPrnamt>45300</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>30100</Shared>
			<None>15200</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HOST HOTELS &amp; RESORTS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>44107P104</cusip>
		<value>2404</value>
		<shrsOrPrnAmt>
			<sshPrnamt>123667</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>86162</Shared>
			<None>37505</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>HUDSON PACIFIC PROPERTIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>444097109</cusip>
		<value>861</value>
		<shrsOrPrnAmt>
			<sshPrnamt>39400</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>14700</Shared>
			<None>24700</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>KILROY REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>49427F108</cusip>
		<value>3529</value>
		<shrsOrPrnAmt>
			<sshPrnamt>70323</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>48600</Shared>
			<None>21723</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>KIMCO REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>49446R109</cusip>
		<value>3398</value>
		<shrsOrPrnAmt>
			<sshPrnamt>172061</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>172061</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>LTC PROPERTIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>502175102</cusip>
		<value>671</value>
		<shrsOrPrnAmt>
			<sshPrnamt>18940</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>6942</Shared>
			<None>11998</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MACERICH CO/THE</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>554382101</cusip>
		<value>4756</value>
		<shrsOrPrnAmt>
			<sshPrnamt>80767</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>53901</Shared>
			<None>26866</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PROLOGIS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>74340W103</cusip>
		<value>7614</value>
		<shrsOrPrnAmt>
			<sshPrnamt>206050</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>149954</Shared>
			<None>56096</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PS BUSINESS PARKS INC/CA</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>69360J107</cusip>
		<value>803</value>
		<shrsOrPrnAmt>
			<sshPrnamt>10511</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>10511</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
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		<nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
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		<nameOfIssuer>QTS REALTY TRUST INC-CL A</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>74736A103</cusip>
		<value>2302</value>
		<shrsOrPrnAmt>
			<sshPrnamt>92900</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
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		<nameOfIssuer>RETAIL OPPORTUNITY INVESTMENT</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>76131N101</cusip>
		<value>3116</value>
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			<sshPrnamt>211663</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
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			<Shared>149163</Shared>
			<None>62500</None>
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		<nameOfIssuer>SIMON PROPERTY GROUP INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>828806109</cusip>
		<value>15687</value>
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			<sshPrnamt>103095</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
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			<Shared>75032</Shared>
			<None>28063</None>
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		<nameOfIssuer>SL GREEN REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>78440X101</cusip>
		<value>4036</value>
		<shrsOrPrnAmt>
			<sshPrnamt>43690</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
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			<Shared>31634</Shared>
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		<nameOfIssuer>STAG INDUSTRIAL INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>85254J102</cusip>
		<value>4783</value>
		<shrsOrPrnAmt>
			<sshPrnamt>234582</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
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		<nameOfIssuer>STARWOOD HOTELS &amp; RESORTS</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>85590A401</cusip>
		<value>3104</value>
		<shrsOrPrnAmt>
			<sshPrnamt>39075</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
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			<Shared>26333</Shared>
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		<nameOfIssuer>STRATEGIC HOTELS &amp; RESORTS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>86272T106</cusip>
		<value>3242</value>
		<shrsOrPrnAmt>
			<sshPrnamt>343048</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
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			<Shared>246648</Shared>
			<None>96400</None>
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		<nameOfIssuer>SUNSTONE HOTEL INVESTORS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>867892101</cusip>
		<value>2212</value>
		<shrsOrPrnAmt>
			<sshPrnamt>165050</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
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			<Shared>118287</Shared>
			<None>46763</None>
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		<nameOfIssuer>TERRENO REALTY CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>88146M101</cusip>
		<value>4189</value>
		<shrsOrPrnAmt>
			<sshPrnamt>236695</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
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			<Shared>161195</Shared>
			<None>75500</None>
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		<nameOfIssuer>UDR INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>902653104</cusip>
		<value>976</value>
		<shrsOrPrnAmt>
			<sshPrnamt>41800</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>41800</Shared>
			<None>0</None>
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		<nameOfIssuer>VENTAS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>92276F100</cusip>
		<value>7953</value>
		<shrsOrPrnAmt>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>2</otherManager>
		<votingAuthority>
			<Sole>0</Sole>
			<Shared>106396</Shared>
			<None>32452</None>
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		<nameOfIssuer>VORNADO REALTY TRUST</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>929042109</cusip>
		<value>2605</value>
		<shrsOrPrnAmt>
			<sshPrnamt>29344</sshPrnamt>
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		<investmentDiscretion>OTR</investmentDiscretion>
		<otherManager>1</otherManager>
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			<Sole>0</Sole>
			<Shared>29344</Shared>
			<None>0</None>
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</informationTable>
