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
DEUTSCHE BANK AG-REGISTERED NAMEN AKT D18190898 379 21,874 SH   SOLE   21,874 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 11,654 407,208 SH   SOLE   407,208 0 0
AVALONBAY CMNTYS INC COM 053484101 19,358 108,495 SH   SOLE   108,495 0 0
BOSTON PROPERTIES INC COM 101121101 19,059 155,100 SH   SOLE   155,100 0 0
DOUGLAS EMMETT DL -,01 COM 25960P109 9,421 239,000 SH   SOLE   239,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 25,664 389,259 SH   SOLE   389,259 0 0
ESSEX PPTY TR INC COM 297178105 11,147 43,879 SH   SOLE   43,879 0 0
KILROY REALTY CORP.DL-,01 COM 49427F108 12,019 169,000 SH   SOLE   169,000 0 0
NATIONAL RETAIL PPTYS COM 637417106 2,750 66,000 SH   SOLE   66,000 0 0
PARAMOUNT GROUP INC COM 69924R108 13,489 843,036 SH   SOLE   843,036 0 0
PROLOGIS INC COM 74340W103 22,721 358,041 SH   SOLE   358,041 0 0
SL GREEN REALTY DL-,01 COM 78440X101 20,566 202,977 SH   SOLE   202,977 0 0
SIMON PPTY GROUP INC COM 828806109 24,769 153,838 SH   SOLE   153,838 0 0
TAUBMAN CTRS INC COM 876664103 16,968 341,413 SH   SOLE   341,413 0 0