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   93,501,358 2,590,783 SH   SOLE   2,590,783 0 0
BLACK KNIGHT INC COM 09215C105   28,471,499 476,670 SH   SOLE   476,670 0 0
BLACKROCK TCP CAPITAL CORP PUT 09259E958   21,142,960 1,016,000 SH Put SOLE   1,016,000 0 0
CUSHMAN WAKEFIELD PLC SHS G2717B108   28,112,836 3,436,777 SH   SOLE   3,436,777 0 0
D R HORTON INC PUT 23331A959   15,819,700 130,000 SH Put SOLE   130,000 0 0
DOUGLAS EMMETT INC COM 25960P109   14,055,032 1,118,141 SH   SOLE   1,118,141 0 0
EPR PPTYS COM SH BEN INT 26884U109   4,277,848 91,407 SH   SOLE   91,407 0 0
ESSEX PPTY TR INC COM 297178105   128,613,128 548,925 SH   SOLE   548,925 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101   78,809,682 814,402 SH   SOLE   814,402 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   144,465,620 7,659,895 SH   SOLE   7,659,895 0 0
HOST HOTELS & RESORTS INC PUT 44107P954   20,897,811 1,241,700 SH Put SOLE   1,241,700 0 0
INVENTRUST PPTYS CORP COM NEW 46124J201   14,234,502 615,147 SH   SOLE   615,147 0 0
NNN REIT INC COM 637417106   99,828,728 2,332,992 SH   SOLE   2,332,992 0 0
PARK HOTELS & RESORTS INC COM 700517105   90,000,669 7,020,333 SH   SOLE   7,020,333 0 0
PULTE GROUP INC PUT 745867951   20,196,800 260,000 SH Put SOLE   260,000 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102   72,721,553 2,799,136 SH   SOLE   2,799,136 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300   107,878,241 2,739,417 SH   SOLE   2,739,417 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101   74,424,028 7,354,153 SH   SOLE   7,354,153 0 0