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
AGREE REALTY CORP COM 008492100 4,617 87,500 SH   SOLE   87,500 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 11,986 95,000 SH   SOLE   95,000 0 0
AMERICAN ASSETS TR INC COM 024013104 6,126 160,000 SH   SOLE   160,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 4,717 110,000 SH   SOLE   110,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 2,218 100,000 SH   SOLE   100,000 0 0
AVALONBAY CMNTYS INC COM 053484101 4,297 25,000 SH   SOLE   25,000 0 0
BOSTON PROPERTIES INC COM 101121101 8,466 67,500 SH   SOLE   67,500 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 7,596 450,000 SH   SOLE   450,000 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 4,493 155,000 SH   SOLE   155,000 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 3,837 57,500 SH   SOLE   57,500 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 4,940 250,000 SH   SOLE   250,000 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 1,453 35,000 SH   SOLE   35,000 0 0
EMPIRE ST RLTY TR INC CL A 292104106 11,970 700,000 SH   SOLE   700,000 0 0
EQUINIX INC COM PAR $0.001 29444U700 3,224 7,500 SH   SOLE   7,500 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 3,814 41,500 SH   SOLE   41,500 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 4,299 67,500 SH Call SOLE   67,500 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 3,184 50,000 SH   SOLE   50,000 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 2,031 150,000 SH   SOLE   150,000 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 2,215 17,500 SH   SOLE   17,500 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 333 10,000 SH Call SOLE   10,000 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 3,834 115,000 SH   SOLE   115,000 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 1,816 79,600 SH Put SOLE   79,600 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 753 47,500 SH Put SOLE   47,500 0 0
HCP INC COM 40414L109 6,713 260,000 SH   SOLE   260,000 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 4,156 52,500 SH   SOLE   52,500 0 0
HUDSON PAC PPTYS INC COM 444097109 6,360 179,500 SH   SOLE   179,500 0 0
INTERXION HOLDING N.V SHS N47279109 1,561 25,000 SH   SOLE   25,000 0 0
INVITATION HOMES INC COM 46187W107 12,683 550,000 SH   SOLE   550,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739 6,850 85,000 SH Put SOLE   85,000 0 0
JBG SMITH PPTYS COM 46590V100 2,371 65,000 SH   SOLE   65,000 0 0
KILROY RLTY CORP COM 49427F108 5,295 70,000 SH   SOLE   70,000 0 0
MACK CALI RLTY CORP COM 554489104 811 40,000 SH Put SOLE   40,000 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 5,331 175,000 SH   SOLE   175,000 0 0
MID AMER APT CMNTYS INC COM 59522J103 4,027 40,000 SH   SOLE   40,000 0 0
QTS RLTY TR INC COM CL A 74736A103 8,295 210,000 SH   SOLE   210,000 0 0
REGENCY CTRS CORP COM 758849103 9,064 146,000 SH   SOLE   146,000 0 0
RLJ LODGING TR COM 74965L101 2,756 125,000 SH   SOLE   125,000 0 0
SL GREEN RLTY CORP COM 78440X101 4,021 40,000 SH   SOLE   40,000 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 7,479 450,000 SH   SOLE   450,000 0 0
VENTAS INC COM 92276F100 5,695 100,000 SH   SOLE   100,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 2,587 35,000 SH Call SOLE   35,000 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 551 68,000 SH Put SOLE   68,000 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 5,295 90,000 SH   SOLE   90,000 0 0