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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
APARTMENT INCOME REIT CORP COM 03750L109   81,125,550 2,265,444 SH   SOLE   2,265,444 0 0
BLACK KNIGHT INC COM 09215C105   23,946,399 416,025 SH   SOLE   416,025 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100   18,135,600 1,016,000 SH Put SOLE   1,016,000 0 0
DOUGLAS EMMETT INC COM 25960P109   12,349,728 1,001,600 SH   SOLE   1,001,600 0 0
ESSEX PPTY TR INC COM 297178105   108,392,661 518,278 SH   SOLE   518,278 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101   96,427,245 975,688 SH   SOLE   975,688 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   95,489,079 4,939,942 SH   SOLE   4,939,942 0 0
HOST HOTELS & RESORTS INC COM 44107P104   48,939,022 2,967,800 SH Put SOLE   2,967,800 0 0
INVENTRUST PPTYS CORP COM NEW 46124J201   10,637,687 454,602 SH   SOLE   454,602 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106   81,410,878 1,843,961 SH   SOLE   1,843,961 0 0
PARK HOTELS & RESORTS INC COM 700517105   77,946,177 6,306,325 SH   SOLE   6,306,325 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102   66,742,334 2,498,777 SH   SOLE   2,498,777 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300   98,725,392 2,478,047 SH   SOLE   2,478,047 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101   63,335,414 6,410,467 SH   SOLE   6,410,467 0 0