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      <invstOrSec>
        <name>UNIVERSAL HEALTH REALTY TRUST</name>
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          <isin value="US91359E1055"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GRIFFIN CAPITAL ESSENTIAL ASSET REIT II INC39818P</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <name>ALEXANDRIA REAL ESTATE EQUITIES INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FOUR CORNERS PROPERTY TRUST INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GLOBAL NET LEASE INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXTRA SPACE STORAGE INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HEALTHCARE REALTY TRUST INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ONE LIBERTY PROPERTIES INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EASTERLY GOVERNMENT PROPERTIES INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LXP INDUSTRIAL TRUST</name>
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        <title>LXP INDUSTRIAL TRUST REIT</title>
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        <fairValLevel>1</fairValLevel>
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        <name>BRIXMOR PROPERTY GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BRT APARTMENTS CORP</name>
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        <name>CHICAGO MERCANTILE EXCH INC</name>
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        <title>S and P MID 400 EMINI FUT JUN25 FAM5</title>
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        <name>LTC PROPERTIES INC</name>
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        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
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        <name>TERRENO RLTY CORP</name>
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        <name>NETSTREIT CORP</name>
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        <name>WELLTOWER INC</name>
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        <name>KIMCO REALTY CORP</name>
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        <name>KITE REALTY GROUP TRUST</name>
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        <name>RYMAN HOSPITALITY PPTYS INC</name>
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        <title>CENTERSPACE</title>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACADIA REALTY TRUST</name>
        <lei>254900C5XLB1YYJQSH07</lei>
        <title>ACADIA RLTY TR REIT</title>
        <cusip>004239109</cusip>
        <identifiers>
          <isin value="US0042391096"/>
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        <balance>210318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4017073.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JONES LANG LASALLE INC</name>
        <lei>6SYKCME112RT8TQUO411</lei>
        <title>JONES LANG LASALLE INC</title>
        <cusip>48020Q107</cusip>
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          <isin value="US48020Q1076"/>
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        <balance>85887.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19531562.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OFFICE PROPERTIES INCOME TRUST</name>
        <lei>N/A</lei>
        <title>OFFICE PROPERTIES INCOME TRUST</title>
        <cusip>67623C109</cusip>
        <identifiers>
          <isin value="US67623C1099"/>
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        <balance>167967.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>68866.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUN COMMUNITIES INC</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>SUN COMMUNITIES INC - REIT</title>
        <cusip>866674104</cusip>
        <identifiers>
          <isin value="US8666741041"/>
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        <balance>225999.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28121055.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CBRE GROUP INC</name>
        <lei>52990016II9MJ2OSWA10</lei>
        <title>CBRE GROUP INC - CL A</title>
        <cusip>12504L109</cusip>
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          <isin value="US12504L1098"/>
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        <balance>553633.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMMUNITY HEALTHCARE TRUST INC</name>
        <lei>549300FATSRCMKOV9536</lei>
        <title>COMMUNITY HEALTHCARE TR INC</title>
        <cusip>20369C106</cusip>
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          <isin value="US20369C1062"/>
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        <balance>54603.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>932619.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NNN REIT INC</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT INC</title>
        <cusip>637417106</cusip>
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          <isin value="US6374171063"/>
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        <balance>333895.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13726423.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERIS RESIDENTIAL INC</name>
        <lei>254900KTVBRYJCQU2J23</lei>
        <title>VERIS RESIDENTIAL INC</title>
        <cusip>554489104</cusip>
        <identifiers>
          <isin value="US5544891048"/>
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        <balance>140943.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2187435.36000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CUBESMART</name>
        <lei>N/A</lei>
        <title>CUBESMART</title>
        <cusip>229663109</cusip>
        <identifiers>
          <isin value="US2296631094"/>
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        <balance>411339.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16729157.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GLADSTONE COMMERCIAL CORP</name>
        <lei>529900EVVV534W8R0T32</lei>
        <title>GLADSTONE COMMERCIAL CORP</title>
        <cusip>376536108</cusip>
        <identifiers>
          <isin value="US3765361080"/>
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        <balance>75786.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1070856.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARCUS and MILLICHAP INC</name>
        <lei>549300B2HE8ULXNB1N48</lei>
        <title>MARCUS and MILLICHAP CO INC</title>
        <cusip>566324109</cusip>
        <identifiers>
          <isin value="US5663241090"/>
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        <balance>45393.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1379947.20000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST INDUSTRIAL REALTY TRUST INC</name>
        <lei>N/A</lei>
        <title>FIRST INDUSTRIAL REALTY TRUST</title>
        <cusip>32054K103</cusip>
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          <isin value="US32054K1034"/>
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        <balance>239695.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11404688.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VENTAS INC</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>VENTAS INC REIT</title>
        <cusip>92276F100</cusip>
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          <isin value="US92276F1003"/>
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        <balance>741428.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51959274.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLOBAL MEDICAL REIT INC</name>
        <lei>549300HFRIPQDYU3GU60</lei>
        <title>GLOBAL MEDICAL REIT INC</title>
        <cusip>37954A204</cusip>
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          <isin value="US37954A2042"/>
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        <balance>124621.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ST JOE COMPANY</name>
        <lei>529900XVHOT3BF8PWG49</lei>
        <title>ST JOE COMPANY</title>
        <cusip>790148100</cusip>
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          <isin value="US7901481009"/>
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        <balance>71556.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BRANDYWINE REALTY TRUST</name>
        <lei>5UZ46ZCYUFYYAC0DS831</lei>
        <title>BRANDYWINE REALTY TRUST</title>
        <cusip>105368203</cusip>
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        <balance>329389.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>SUMMIT HOTEL PROPERTIES INC</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>SUMMIT HOTEL PROPERTIES INC</title>
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        <balance>201313.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>FARMLAND PARTNERS INC</name>
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        <name>PUBLIC STORAGE</name>
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        <name>MEDICAL PROPERTIES TRUST INC</name>
        <lei>254900U6E39J1MQCCY14</lei>
        <title>MEDICAL PPTY TR INC</title>
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        <name>NET LEASE OFFICE PROPERTIES REIT</name>
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        <cusip>64110Y108</cusip>
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        <name>URBAN EDGE PROPERTIES</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <name>ALEXANDERS INC</name>
        <lei>549300TZM28P04U5R635</lei>
        <title>ALEXANDER'S INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>RMR GROUP INC</name>
        <lei>549300JP4L34E48UJM16</lei>
        <title>RMR GROUP INC W/I CL A</title>
        <cusip>74967R106</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL HEALTH INVESTORS INC</name>
        <lei>549300ZPKZIG6DKDEC02</lei>
        <title>NATIONAL HEALTH INVESTORS INC</title>
        <cusip>63633D104</cusip>
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          <isin value="US63633D1046"/>
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        <balance>80416.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6085078.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CUSHMAN and WAKEFIELD PLC</name>
        <lei>N/A</lei>
        <title>CUSHMAN and WAKEFIELD PLC</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BFZ4N465"/>
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        <balance>415802.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3896064.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICOLD REALTY TRUST</name>
        <lei>549300R7N1V5YV8MWH02</lei>
        <title>AMERICOLD REALTY TRUST</title>
        <cusip>03064D108</cusip>
        <identifiers>
          <isin value="US03064D1081"/>
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        <balance>493579.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9545817.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HIGHWOODS PROPERTIES INC</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>HIGHWOODS PROPERTIES INC</title>
        <cusip>431284108</cusip>
        <identifiers>
          <isin value="US4312841087"/>
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        <balance>194328.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5526688.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMPASS INC</name>
        <lei>254900DMGQSTC3I2IM78</lei>
        <title>COMPASS INC</title>
        <cusip>20464U100</cusip>
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          <isin value="US20464U1007"/>
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        <balance>786504.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>PEBBLEBROOK HOTEL TRUST</title>
        <cusip>70509V100</cusip>
        <identifiers>
          <isin value="US70509V1008"/>
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        <balance>218969.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1981669.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEYERHAEUSER CO</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>WEYERHAEUSER CO</title>
        <cusip>962166104</cusip>
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          <isin value="US9621661043"/>
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        <balance>1326459.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAUL CENTERS INC</name>
        <lei>N/A</lei>
        <title>SAUL CENTERS INC</title>
        <cusip>804395101</cusip>
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          <isin value="US8043951016"/>
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        <balance>22218.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>726528.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HEALTHPEAK PROPERTIES INC</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>HEALTHPEAK PROPERTIES INC</title>
        <cusip>42250P103</cusip>
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          <isin value="US42250P1030"/>
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        <balance>1291716.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23044213.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>XENIA HOTELS and RESORTS INC</name>
        <lei>54930075IWIPHF5IQL62</lei>
        <title>XENIA HOTELS and RESORTS INC</title>
        <cusip>984017103</cusip>
        <identifiers>
          <isin value="US9840171030"/>
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        <balance>186251.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FEDERAL REALTY INVESTMENT TR</name>
        <lei>549300LI6XZ51GOCJ427</lei>
        <title>FEDERAL REALTY INVESTMENT TR</title>
        <cusip>313745101</cusip>
        <identifiers>
          <isin value="US3137451015"/>
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        <balance>135982.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12785027.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INDEPENDENCE REALTY TRUST INC</name>
        <lei>549300Z3L8NU44NQEB29</lei>
        <title>INDEPENDENCE REALTY TR INC</title>
        <cusip>45378A106</cusip>
        <identifiers>
          <isin value="US45378A1060"/>
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        <balance>402495.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7820477.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICI PPTYS INC</name>
        <lei>254900RKH6RY9KCJQH63</lei>
        <title>VICI PPTYS INC</title>
        <cusip>925652109</cusip>
        <identifiers>
          <isin value="US9256521090"/>
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        <balance>1895298.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60687441.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KILROY REALTY CORP</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>KILROY REALTY CORP</title>
        <cusip>49427F108</cusip>
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          <isin value="US49427F1084"/>
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        <balance>204727.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHATHAM LODGING TRUST</name>
        <lei>N/A</lei>
        <title>CHATHAM LODGING TRUST</title>
        <cusip>16208T102</cusip>
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          <isin value="US16208T1025"/>
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        <balance>88418.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EQUITY RESIDENTIAL</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>EQUITY RESIDENTIAL REIT</title>
        <cusip>29476L107</cusip>
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          <isin value="US29476L1070"/>
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        <balance>618338.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INVENTRUST PROPERTIES CORP</name>
        <lei>5493006BQYSOBYVUFA03</lei>
        <title>INLAND AMERICN REAL EST TR INC</title>
        <cusip>46124J201</cusip>
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          <isin value="US46124J2015"/>
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        <balance>134141.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHILLIPS EDISON and CO INC</name>
        <lei>549300UC1QJSQ49IC243</lei>
        <title>PHILLIPS EDISON and CO INC</title>
        <cusip>71844V201</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CARETRUST REIT INC</name>
        <lei>5493001NVXE2B9GPLU96</lei>
        <title>CARETRUST REIT INC</title>
        <cusip>14174T107</cusip>
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        <balance>331903.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>GETTY REALTY CORP</name>
        <lei>2549000P1W5SFJWCNP90</lei>
        <title>GETTY REALTY CORP</title>
        <cusip>374297109</cusip>
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        <balance>94985.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SL GREEN REALTY CORP</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>SL GREEN REALTY CORP REIT</title>
        <cusip>78440X887</cusip>
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        <balance>127010.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUDSON PACIFIC PROPERTIES INC</name>
        <lei>N/A</lei>
        <title>HUDSON PACIFIC PROPERTIES INC</title>
        <cusip>444097109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>POTLATCHDELTIC CORP</name>
        <lei>54930084YA8UJOTXDM59</lei>
        <title>POTLATCHDELTIC CORP REIT</title>
        <cusip>737630103</cusip>
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        <balance>145128.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>OUTFRONT MEDIA INC</name>
        <lei>549300RZWDYU5722I639</lei>
        <title>OUTFRONT MEDIA INC</title>
        <cusip>69007J304</cusip>
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        <balance>243254.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3680433.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SILA REALTY TRUST INC</name>
        <lei>549300HXH142HWKKSW59</lei>
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        <cusip>146280508</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN HEALTHCARE REIT INC</name>
        <lei>2549004GGE2APGNT6O92</lei>
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          <isin value="US3981823038"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SITE CENTERS CORP</name>
        <lei>W2AVA6SODOQ1LCYJQR54</lei>
        <title>SITE CENTERS CORP</title>
        <cusip>82981J851</cusip>
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          <isin value="US82981J8514"/>
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        <balance>91238.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEXPOINT RESIDENTIAL TRUST INC</name>
        <lei>549300U2J6XVYBF87166</lei>
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          <isin value="US65341D1028"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALEXANDER and BALDWIN INC</name>
        <lei>N/A</lei>
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          <isin value="US0144911049"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STAG INDUSTRIAL INC</name>
        <lei>549300QWYX2W6FASVQ07</lei>
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          <isin value="US85254J1025"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EPR PROPERTIES</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MACERICH CO</name>
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          <isin value="US5543821012"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JBG SMITH PROPERTIES</name>
        <lei>N/A</lei>
        <title>JBG SMITH PROPERTIES</title>
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          <isin value="US46590V1008"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SABRA HEALTH CARE REIT INC</name>
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        <title>SABRA HEALTHCARE REIT INC</title>
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          <isin value="US78573L1061"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WP CAREY INC</name>
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        <title>WP CAREY INC</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BXP INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CROWN CASTLE INC</name>
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        <name>SUNSTONE HOTEL INVS INC NEW</name>
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        <name>PIEDMONT OFFICE RLTY TR INC</name>
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        <title>PIEDMONT OFFICE REALTY TRUST A</title>
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        <name>CBL and ASSOCIATES PROPERTIES INC</name>
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        <name>MILLROSE PROPERTIES INC REIT</name>
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        <name>ESSENTIAL PROPERTIES REALTY TRUST INC</name>
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        <name>INVITATION HOMES INC</name>
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        <name>REDFIN CORPORATION</name>
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        <name>VORNADO REALTY TRUST</name>
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        <name>RLJ LODGING TR</name>
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        <name>DOUGLAS EMMETT INC</name>
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        <name>ELME COMMUNITIES</name>
        <lei>549300DI34BGS8LVKW95</lei>
        <title>ELME COMMUNITIES</title>
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        <fairValLevel>1</fairValLevel>
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        <name>COPT DEFENSE PROPERTIES</name>
        <lei>YY1J47X6LF9TYY8JY420</lei>
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        <name>CURBLINE PROPERTIES CORP</name>
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        <name>FORESTAR GROUP INC</name>
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        <name>MID-AMERICA APT CMNTYS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UST BILLS</name>
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        <name>HOWARD HUGHES HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>HOWARD HUGHES HOLDINGS INC</title>
        <cusip>44267T102</cusip>
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          <isin value="US44267T1025"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN ASSETS TRUST INC</name>
        <lei>N/A</lei>
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          <isin value="US0240131047"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PLYMOUTH INDUSTRIAL REIT INC</name>
        <lei>N/A</lei>
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          <isin value="US7296401026"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EQUITY LIFESTYLE PROPERTIES INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fidelity Revere Street Trust</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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          <ticker value="DJEM5"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOST HOTELS and RESORTS INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CTO REALTY GROWTH INC</name>
        <lei>N/A</lei>
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          <isin value="US22948Q1013"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UDR INC</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AGREE REALTY CORP</name>
        <lei>N/A</lei>
        <title>AGREE REALTY CORP</title>
        <cusip>008492100</cusip>
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          <isin value="US0084921008"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ESSEX PROPERTY TRUST INC</name>
        <lei>549300TR2H2VEFX0NC60</lei>
        <title>ESSEX PROPERTY TRUST INC</title>
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          <isin value="US2971781057"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZILLOW GROUP INC</name>
        <lei>2549002XEELQDIR6FU05</lei>
        <title>ZILLOW GROUP INC CL A</title>
        <cusip>98954M101</cusip>
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          <isin value="US98954M1018"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>SBA COMMUNICATIONS CORP</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>ORION OFFICE REIT INC</name>
        <lei>254900ZBXYX11W8ZL437</lei>
        <title>ORION PROPERTIES INC.</title>
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        <name>EASTGROUP PROPERTIES INC</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>EASTGROUP PPTYS INC</title>
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        <name>ZILLOW GROUP INC</name>
        <lei>2549002XEELQDIR6FU05</lei>
        <title>ZILLOW GROUP INC CL C</title>
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        <name>OMEGA HEALTHCARE INVESTORS INC</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>OMEGA HEALTHCARE INVESTORS INC</title>
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        <name>EMPIRE STATE REALTY TRUST INC</name>
        <lei>549300VOKY1DUEQSB456</lei>
        <title>EMPIRE STATE REALTY TRUST INC CL A</title>
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        <name>WHITESTONE REIT</name>
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        <title>WHITESTONE REIT</title>
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        <name>SIMON PROPERTY GROUP INC</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>SIMON PPTY GROUP INC - REIT</title>
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        <name>TEJON RANCH CO</name>
        <lei>549300TMNDO77VJ6J111</lei>
        <title>TEJON RANCH CO</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NEWMARK GROUP INC</name>
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        <title>NEWMARK GROUP INC CL A</title>
        <cusip>65158N102</cusip>
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        <name>LANDBRIDGE CO LLC</name>
        <lei>N/A</lei>
        <title>LANDBRIDGE CO LLC CLASS A</title>
        <cusip>514952100</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN TOWER CORP</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
        </identifiers>
        <balance>847179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>190962618.39000000</valUSD>
        <pctVal>7.457660608805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIAMONDROCK HOSPITALITY CO</name>
        <lei>529900KKD4BPVBUAQ734</lei>
        <title>DIAMONDROCK HOSPITALITY CO</title>
        <cusip>252784301</cusip>
        <identifiers>
          <isin value="US2527843013"/>
        </identifiers>
        <balance>381694.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2801633.96000000</valUSD>
        <pctVal>0.109412173963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REXFORD INDL RLTY INC</name>
        <lei>549300MSLO0DF0EMX355</lei>
        <title>REXFORD INDUSTRIAL REALTY INC</title>
        <cusip>76169C100</cusip>
        <identifiers>
          <isin value="US76169C1009"/>
        </identifiers>
        <balance>398338.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13184987.80000000</valUSD>
        <pctVal>0.514913154064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGENCY CENTERS CORP(REIT)</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>REGENCY CENTERS CORP REIT</title>
        <cusip>758849103</cusip>
        <identifiers>
          <isin value="US7588491032"/>
        </identifiers>
        <balance>316764.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22864025.52000000</valUSD>
        <pctVal>0.892908486052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PARAMOUNT GROUP INC</name>
        <lei>5493006GJU1CFI7Z5J17</lei>
        <title>PARAMOUNT GROUP INC</title>
        <cusip>69924R108</cusip>
        <identifiers>
          <isin value="US69924R1086"/>
        </identifiers>
        <balance>306896.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1316583.84000000</valUSD>
        <pctVal>0.051416531279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KENNEDY-WILSON HOLDINGS INC</name>
        <lei>549300MOI1T78144X610</lei>
        <title>KENNEDY-WILSON HOLDINGS INC</title>
        <cusip>489398107</cusip>
        <identifiers>
          <isin value="US4893981070"/>
        </identifiers>
        <balance>205597.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1315820.80000000</valUSD>
        <pctVal>0.051386732288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="148480.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TANGER INC</name>
        <lei>UKEW8YSXE4Y581KYOL30</lei>
        <title>TANGER INC- REIT</title>
        <cusip>875465106</cusip>
        <identifiers>
          <isin value="US8754651060"/>
        </identifiers>
        <balance>195871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6171895.21000000</valUSD>
        <pctVal>0.241030941957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROLOGIS INC</name>
        <lei>529900DFH19P073LZ636</lei>
        <title>PROLOGIS INC REIT</title>
        <cusip>74340W103</cusip>
        <identifiers>
          <isin value="US74340W1036"/>
        </identifiers>
        <balance>1678821.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171575506.20000000</valUSD>
        <pctVal>6.700535973016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APARTMENT INVESTMENT AND MANAGEMENT CO</name>
        <lei>549300O8FT5GJ4RU1D57</lei>
        <title>APARTMENT INV and MGMT CO A REIT</title>
        <cusip>03748R747</cusip>
        <identifiers>
          <isin value="US03748R7474"/>
        </identifiers>
        <balance>228704.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1809048.64000000</valUSD>
        <pctVal>0.070648752597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVALONBAY COMMUNITIES INC</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AVALONBAY COMMUNITIES INC REIT</title>
        <cusip>053484101</cusip>
        <identifiers>
          <isin value="US0534841012"/>
        </identifiers>
        <balance>257252.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54017774.96000000</valUSD>
        <pctVal>2.109555450647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OPENDOOR TECHNOLOGIES INC</name>
        <lei>254900KX11YZ4HV5BQ47</lei>
        <title>OPENDOOR TECHNOLOGIES INC</title>
        <cusip>683712103</cusip>
        <identifiers>
          <isin value="US6837121036"/>
        </identifiers>
        <balance>1079133.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>818306.55000000</valUSD>
        <pctVal>0.031957314867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="644251.68000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANYWHERE REAL ESTATE INC</name>
        <lei>5493004HBTOTE9DI9P12</lei>
        <title>ANYWHERE REAL ESTATE INC</title>
        <cusip>75605Y106</cusip>
        <identifiers>
          <isin value="US75605Y1064"/>
        </identifiers>
        <balance>189154.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>654472.84000000</valUSD>
        <pctVal>0.025559119159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAMAR ADVERTISING CO</name>
        <lei>529900Y8WW4MKVPTB543</lei>
        <title>LAMAR ADVERTISING CO CL A</title>
        <cusip>512816109</cusip>
        <identifiers>
          <isin value="US5128161099"/>
        </identifiers>
        <balance>159004.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18096245.24000000</valUSD>
        <pctVal>0.706712425873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COUSINS PROPERTIES INC</name>
        <lei>5493007XPYD5EJABN062</lei>
        <title>COUSINS PROPERTIES INC</title>
        <cusip>222795502</cusip>
        <identifiers>
          <isin value="US2227955026"/>
        </identifiers>
        <balance>294278.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8104416.12000000</valUSD>
        <pctVal>0.316501655481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="As of March 2025, monthly returns presented in Item B.5.a. have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
