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
APOLLO COMMERCIAL REAL ESTATE COM 03762U105 1,257 76,813 SH   OTR 1 0 76,813 0
BLUEROCK RESIDENTIAL GROWTH COM 09627J102 94 7,200 SH   OTR 1 0 7,200 0
BOSTON PROPERTIES INC COM 101121101 1,131 8,300 SH   OTR 1 0 8,300 0
CARE CAPITAL PROPERTIES INC COM 141624106 2,602 91,300 SH   OTR 1 0 91,300 0
CHATHAM LODGING TRUST COM 16208T102 1,162 60,347 SH   OTR 1 0 60,347 0
CYRUSONE INC COM 23283R100 1,665 35,000 SH   OTR 1 0 35,000 0
EPR PROPERTIES COM 26884U109 1,337 16,974 SH   OTR 1 0 16,974 0
GENERAL GROWTH PROPERTIES COM 370023103 76 2,741 SH   OTR 1 0 2,741 0
HUDSON PACIFIC PROPERTIES INC COM 444097109 103 3,121 SH   OTR 1 0 3,121 0
HOST HOTELS & RESORTS INC COM 44107P104 81 5,222 SH   OTR 1 0 5,222 0
MACERICH CO/THE COM 554382101 1,760 21,759 SH   OTR 1 0 21,759 0
OUTFRONT MEDIA INC COM 69007J106 152 6,409 SH   OTR 1 0 6,409 0
QTS REALTY TRUST INC-CL A COM 74736A103 1,174 22,219 SH   OTR 1 0 22,219 0
SABRA HEALTH CARE REIT INC COM 78573L106 23 921 SH   OTR 1 0 921 0
SL GREEN REALTY CORP COM 78440X101 86 800 SH   OTR 1 0 800 0
SPIRIT REALTY CAPITAL INC COM 84860W102 1,213 90,973 SH   OTR 1 0 90,973 0
STAG INDUSTRIAL INC COM 85254J102 1,401 57,170 SH   OTR 1 0 57,170 0
EXTENDED STAY AMERICA INC COM 30224P200 516 36,307 SH   OTR 1 0 36,307 0
STARWOOD PROPERTY TRUST INC COM 85571B105 1,456 64,670 SH   OTR 1 0 64,670 0
VENTAS INC COM 92276F100 92 1,300 SH   OTR 1 0 1,300 0
WASHINGTON PRIME GROUP INC COM 93964W108 1,211 97,800 SH   OTR 1 0 97,800 0
APOLLO COMMERCIAL REAL ESTATE COM 03762U105 671 41,013 SH   SOLE   41,013 0 0
BLUEROCK RESIDENTIAL GROWTH COM 09627J102 439 33,794 SH   SOLE   33,794 0 0
CARE CAPITAL PROPERTIES INC COM 141624106 579 20,300 SH   SOLE   20,300 0 0
CHATHAM LODGING TRUST COM 16208T102 300 15,569 SH   SOLE   15,569 0 0
DIGITAL REALTY TRUST INC COM 253868103 415 4,272 SH   SOLE   4,272 0 0
EPR PROPERTIES COM 26884U109 508 6,456 SH   SOLE   6,456 0 0
GEO GROUP INC/THE COM 36162J106 204 8,595 SH   SOLE   8,595 0 0
HOST HOTELS & RESORTS INC COM 44107P104 251 16,108 SH   SOLE   16,108 0 0
LEXINGTON REALTY TRUST COM 529043101 406 39,433 SH   SOLE   39,433 0 0
OMEGA HEALTHCARE INVESTORS COM 681936100 561 15,834 SH   SOLE   15,834 0 0
OUTFRONT MEDIA INC COM 69007J106 264 11,177 SH   SOLE   11,177 0 0
QTS REALTY TRUST INC-CL A COM 74736A103 359 6,786 SH   SOLE   6,786 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 421 16,735 SH   SOLE   16,735 0 0
SPIRIT REALTY CAPITAL INC COM 84860W102 547 41,029 SH   SOLE   41,029 0 0
STAG INDUSTRIAL INC COM 85254J102 425 17,354 SH   SOLE   17,354 0 0
STARWOOD PROPERTY TRUST INC COM 85571B105 749 33,241 SH   SOLE   33,241 0 0
VEREIT INC COM 92339V100 298 28,753 SH   SOLE   28,753 0 0
VENTAS INC COM 92276F100 153 2,167 SH   SOLE   2,167 0 0
WASHINGTON PRIME GROUP INC COM 93964W108 350 28,300 SH   SOLE   28,300 0 0