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 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
AGREE REALTY CORP COM 008492100 5,284 110,000 SH   SOLE   110,000 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 6,869 55,000 SH   SOLE   55,000 0 0
AMERICAN ASSETS TR INC COM 024013104 4,176 125,000 SH   SOLE   125,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 12,938 335,000 SH   SOLE   335,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100 4,360 30,000 SH   SOLE   30,000 0 0
AVALONBAY CMNTYS INC COM 053484101 11,923 72,500 SH   SOLE   72,500 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 2,382 150,000 SH   SOLE   150,000 0 0
CAMDEN PPTY TR SH BEN INT 133131102 9,260 110,000 SH   SOLE   110,000 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 2,046 100,000 SH   SOLE   100,000 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 5,295 205,000 SH   SOLE   205,000 0 0
COUSINS PPTYS INC COM 222795106 1,736 200,000 SH   SOLE   200,000 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 3,380 60,000 SH   SOLE   60,000 0 0
DUKE REALTY CORP COM NEW 264411505 7,547 285,000 SH   SOLE   285,000 0 0
EMPIRE ST RLTY TR INC CL A 292104106 10,494 625,000 SH   SOLE   625,000 0 0
EQUINIX INC COM PAR $0.001 29444U700 6,899 16,500 SH   SOLE   16,500 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 6,577 225,000 SH   SOLE   225,000 0 0
HCP INC COM 40414L109 6,388 275,000 SH   SOLE   275,000 0 0
HIGHWOODS PPTYS INC COM 431284108 5,039 115,000 SH   SOLE   115,000 0 0
HUDSON PAC PPTYS INC COM 444097109 6,343 195,000 SH   SOLE   195,000 0 0
INVITATION HOMES INC COM 46187W107 9,132 400,000 SH   SOLE   400,000 0 0
KILROY RLTY CORP COM 49427F108 7,451 105,000 SH   SOLE   105,000 0 0
QTS RLTY TR INC COM CL A 74736A103 4,528 125,000 SH   SOLE   125,000 0 0
REGENCY CTRS CORP COM 758849103 4,718 80,000 SH   SOLE   80,000 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 4,850 625,000 SH   SOLE   625,000 0 0
SUN CMNTYS INC COM 866674104 7,538 82,500 SH   SOLE   82,500 0 0
UDR INC COM 902653104 7,124 200,000 SH   SOLE   200,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 2,322 34,500 SH Call SOLE   34,500 0 0