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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIXMOR PROPERTY GROUP INC.</name>
        <lei>5299007UXW6Y0W2EGZ95</lei>
        <title>BRIXMOR PROPERTY GROUP INC REIT</title>
        <cusip>11120U105</cusip>
        <identifiers>
          <isin value="US11120U1051"/>
        </identifiers>
        <balance>62540.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>594130.00000000</valUSD>
        <pctVal>0.653952128218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INVITATION HOMES INC.</name>
        <lei>N/A</lei>
        <title>INVITATION HOMES INC REIT</title>
        <cusip>46187W107</cusip>
        <identifiers>
          <isin value="US46187W1071"/>
        </identifiers>
        <balance>150797.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3222531.89000000</valUSD>
        <pctVal>3.547004170327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLUMBIA PROPERTY TRUST, INC.</name>
        <lei>549300J5GYF2C9BGCC39</lei>
        <title>COLUMBIA PROPERTY TRUST INC REIT</title>
        <cusip>198287203</cusip>
        <identifiers>
          <isin value="US1982872038"/>
        </identifiers>
        <balance>93617.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1170212.50000000</valUSD>
        <pctVal>1.288039578615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST INDUSTRIAL REALTY TRUST, INC.</name>
        <lei>N/A</lei>
        <title>FIRST INDUSTRIAL REALTY TR REIT</title>
        <cusip>32054K103</cusip>
        <identifiers>
          <isin value="US32054K1034"/>
        </identifiers>
        <balance>33869.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1125466.87000000</valUSD>
        <pctVal>1.238788572998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEALTHCARE TRUST OF AMERICA, INC.</name>
        <lei>549300L0I14L7I0VLX84</lei>
        <title>HEALTHCARE TRUST OF AME-CL A REIT</title>
        <cusip>42225P501</cusip>
        <identifiers>
          <isin value="US42225P5017"/>
        </identifiers>
        <balance>10620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>257853.60000000</valUSD>
        <pctVal>0.283816522459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUITY RESIDENTIAL</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>EQUITY RESIDENTIAL REIT</title>
        <cusip>29476L107</cusip>
        <identifiers>
          <isin value="US29476L1070"/>
        </identifiers>
        <balance>72736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4488538.56000000</valUSD>
        <pctVal>4.940483301468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXTRA SPACE STORAGE INC.</name>
        <lei>N/A</lei>
        <title>EXTRA SPACE STORAGE INC REIT</title>
        <cusip>30225T102</cusip>
        <identifiers>
          <isin value="US30225T1025"/>
        </identifiers>
        <balance>28420.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2721499.20000000</valUSD>
        <pctVal>2.995523191530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIFE STORAGE, INC.</name>
        <lei>W9EE01AFDDF9DQCQZC68</lei>
        <title>LIFE STORAGE INC REIT</title>
        <cusip>53223X107</cusip>
        <identifiers>
          <isin value="US53223X1072"/>
        </identifiers>
        <balance>13176.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1245790.80000000</valUSD>
        <pctVal>1.371227753142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRON MOUNTAIN INCORPORATED</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRON MOUNTAIN INC REIT</title>
        <cusip>46284V101</cusip>
        <identifiers>
          <isin value="US46284V1017"/>
        </identifiers>
        <balance>18980.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>451724.00000000</valUSD>
        <pctVal>0.497207464977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEALTHPEAK PROPERTIES, INC.</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>HEALTHPEAK PROPERTIES INC REIT</title>
        <cusip>42250P103</cusip>
        <identifiers>
          <isin value="US42250P1030"/>
        </identifiers>
        <balance>161770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3858214.50000000</valUSD>
        <pctVal>4.246692783393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEI Daily Income Trust: Government Fund; Class F Shares</name>
        <lei>N/A</lei>
        <title>SEI DAILY INCOME TRUST GOVERNMENT FUND (#36)</title>
        <cusip>783965593</cusip>
        <identifiers>
          <isin value="US7839655930"/>
        </identifiers>
        <balance>1144990.91800000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1144990.92000000</valUSD>
        <pctVal>1.260278472597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SBA Communications Corporation</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA COMMUNICATIONS CORP REIT</title>
        <cusip>78410G104</cusip>
        <identifiers>
          <isin value="US78410G1040"/>
        </identifiers>
        <balance>4700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1268859.00000000</valUSD>
        <pctVal>1.396618658305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICOLD REALTY TRUST</name>
        <lei>549300R7N1V5YV8MWH02</lei>
        <title>AMERICOLD REALTY TRUST REIT</title>
        <cusip>03064D108</cusip>
        <identifiers>
          <isin value="US03064D1081"/>
        </identifiers>
        <balance>20440.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>695777.60000000</valUSD>
        <pctVal>0.765834484517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPIRE STATE REALTY TRUST, INC.</name>
        <lei>549300VOKY1DUEQSB456</lei>
        <title>EMPIRE STATE REALTY TRUST-A REIT</title>
        <cusip>292104106</cusip>
        <identifiers>
          <isin value="US2921041065"/>
        </identifiers>
        <balance>113721.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1018940.16000000</valUSD>
        <pctVal>1.121535835859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIMON PROPERTY GROUP, INC.</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>SIMON PROPERTY GROUP INC REIT</title>
        <cusip>828806109</cusip>
        <identifiers>
          <isin value="US8288061091"/>
        </identifiers>
        <balance>23110.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1267814.60000000</valUSD>
        <pctVal>1.395469099113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CUBESMART</name>
        <lei>N/A</lei>
        <title>CUBESMART REIT</title>
        <cusip>229663109</cusip>
        <identifiers>
          <isin value="US2296631094"/>
        </identifiers>
        <balance>21959.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>588281.61000000</valUSD>
        <pctVal>0.647514871915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOSTON PROPERTIES, INC.</name>
        <lei>549300OF70FSEUQBT254</lei>
        <title>BOSTON PROPERTIES INC REIT</title>
        <cusip>101121101</cusip>
        <identifiers>
          <isin value="US1011211018"/>
        </identifiers>
        <balance>18150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1673974.50000000</valUSD>
        <pctVal>1.842524677861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CORESITE REALTY CORPORATION</name>
        <lei>549300H0YYORITFM2B74</lei>
        <title>CORESITE REALTY CORP REIT</title>
        <cusip>21870Q105</cusip>
        <identifiers>
          <isin value="US21870Q1058"/>
        </identifiers>
        <balance>5650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>654835.00000000</valUSD>
        <pctVal>0.720769430733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MID-AMERICA APARTMENT COMMUNITIES, INC.</name>
        <lei>549300FQZKFR5YNSHZ21</lei>
        <title>MID-AMERICA APARTMENT COMM REIT</title>
        <cusip>59522J103</cusip>
        <identifiers>
          <isin value="US59522J1034"/>
        </identifiers>
        <balance>10350.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1066360.50000000</valUSD>
        <pctVal>1.173730864327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KILROY REALTY CORPORATION</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>KILROY REALTY CORP REIT</title>
        <cusip>49427F108</cusip>
        <identifiers>
          <isin value="US49427F1084"/>
        </identifiers>
        <balance>32372.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2062096.40000000</valUSD>
        <pctVal>2.269726035330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VENTAS, INC.</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>VENTAS INC REIT</title>
        <cusip>92276F100</cusip>
        <identifiers>
          <isin value="US92276F1003"/>
        </identifiers>
        <balance>101754.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2727007.20000000</valUSD>
        <pctVal>3.001585784434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>URBAN EDGE PROPERTIES</name>
        <lei>N/A</lei>
        <title>URBAN EDGE PROPERTIES REIT</title>
        <cusip>91704F104</cusip>
        <identifiers>
          <isin value="US91704F1049"/>
        </identifiers>
        <balance>65930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>580843.30000000</valUSD>
        <pctVal>0.639327608766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN CAMPUS COMMUNITIES, INC.</name>
        <lei>529900MR3ZXRO3W6UX26</lei>
        <title>AMERICAN CAMPUS COMMUNITIES REIT</title>
        <cusip>024835100</cusip>
        <identifiers>
          <isin value="US0248351001"/>
        </identifiers>
        <balance>19541.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>542262.75000000</valUSD>
        <pctVal>0.596862436530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE REALTY CORPORATION</name>
        <lei>N/A</lei>
        <title>DUKE REALTY CORP REIT</title>
        <cusip>264411505</cusip>
        <identifiers>
          <isin value="US2644115055"/>
        </identifiers>
        <balance>2717.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>87976.46000000</valUSD>
        <pctVal>0.096834688115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN HOMES 4 RENT</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>AMERICAN HOMES 4 RENT- A REIT</title>
        <cusip>02665T306</cusip>
        <identifiers>
          <isin value="US02665T3068"/>
        </identifiers>
        <balance>25197.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>584570.40000000</valUSD>
        <pctVal>0.643429985311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RLJ LODGING TRUST</name>
        <lei>N/A</lei>
        <title>RLJ LODGING TRUST REIT</title>
        <cusip>74965L101</cusip>
        <identifiers>
          <isin value="US74965L1017"/>
        </identifiers>
        <balance>44975.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>347207.00000000</valUSD>
        <pctVal>0.382166792759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN TOWER CORPORATION</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP REIT</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
        </identifiers>
        <balance>13930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3033257.50000000</valUSD>
        <pctVal>3.338672003700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESSEX PROPERTY TRUST, INC.</name>
        <lei>549300TR2H2VEFX0NC60</lei>
        <title>ESSEX PROPERTY TRUST INC REIT</title>
        <cusip>297178105</cusip>
        <identifiers>
          <isin value="US2971781057"/>
        </identifiers>
        <balance>10018.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2206364.32000000</valUSD>
        <pctVal>2.428520092721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIGITAL REALTY TRUST, INC.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>DIGITAL REALTY TRUST INC REIT</title>
        <cusip>253868103</cusip>
        <identifiers>
          <isin value="US2538681030"/>
        </identifiers>
        <balance>16450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2285069.50000000</valUSD>
        <pctVal>2.515149988473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PARK HOTELS &amp; RESORTS INC.</name>
        <lei>5493005UZ5TQN0H6HS73</lei>
        <title>PARK HOTELS &amp; RESORTS INC REIT</title>
        <cusip>700517105</cusip>
        <identifiers>
          <isin value="US7005171050"/>
        </identifiers>
        <balance>15150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>119836.50000000</valUSD>
        <pctVal>0.131902671491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>10930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1608568.10000000</valUSD>
        <pctVal>1.770532597880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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 CORPORATION</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>REGENCY CENTERS CORP REIT</title>
        <cusip>758849103</cusip>
        <identifiers>
          <isin value="US7588491032"/>
        </identifiers>
        <balance>4570.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>175625.10000000</valUSD>
        <pctVal>0.193308548488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>98975.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7954620.75000000</valUSD>
        <pctVal>8.755560514754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOUGLAS EMMETT, INC.</name>
        <lei>N/A</lei>
        <title>DOUGLAS EMMETT INC REIT</title>
        <cusip>25960P109</cusip>
        <identifiers>
          <isin value="US25960P1093"/>
        </identifiers>
        <balance>43130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1315896.30000000</valUSD>
        <pctVal>1.448392079005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIVERSIFIED HEALTHCARE TRUST</name>
        <lei>N/A</lei>
        <title>DIVERSIFIED HEALTHCARE TRUST REIT</title>
        <cusip>25525P107</cusip>
        <identifiers>
          <isin value="US25525P1075"/>
        </identifiers>
        <balance>123330.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>447687.90000000</valUSD>
        <pctVal>0.492764975649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CYRUSONE INC.</name>
        <lei>5493006S177ZK2ZNBU43</lei>
        <title>CYRUSONE INC REIT</title>
        <cusip>23283R100</cusip>
        <identifiers>
          <isin value="US23283R1005"/>
        </identifiers>
        <balance>31450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1942037.50000000</valUSD>
        <pctVal>2.137578570690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JBG SMITH PROPERTIES</name>
        <lei>N/A</lei>
        <title>JBG SMITH PROPERTIES REIT</title>
        <cusip>46590V100</cusip>
        <identifiers>
          <isin value="US46590V1008"/>
        </identifiers>
        <balance>74323.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2365701.09000000</valUSD>
        <pctVal>2.603900261783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SL GREEN REALTY CORP.</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>SL GREEN REALTY CORP REIT</title>
        <cusip>78440X101</cusip>
        <identifiers>
          <isin value="US78440X1019"/>
        </identifiers>
        <balance>7990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>344369.00000000</valUSD>
        <pctVal>0.379043038463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>UDR, INC.</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR INC REIT</title>
        <cusip>902653104</cusip>
        <identifiers>
          <isin value="US9026531049"/>
        </identifiers>
        <balance>55595.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2031441.30000000</valUSD>
        <pctVal>2.235984315697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>PUBLIC STORAGE REIT</title>
        <cusip>74460D109</cusip>
        <identifiers>
          <isin value="US74460D1090"/>
        </identifiers>
        <balance>16278.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3232973.58000000</valUSD>
        <pctVal>3.558497219655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>HEALTHCARE REALTY TRUST INCORPORATED</name>
        <lei>549300CB86LH2IOKHH22</lei>
        <title>HEALTHCARE REALTY TRUST INC REIT</title>
        <cusip>421946104</cusip>
        <identifiers>
          <isin value="US4219461047"/>
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        <balance>10770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>300806.10000000</valUSD>
        <pctVal>0.331093850295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>HIGHWOODS PROPERTIES, INC.</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>HIGHWOODS PROPERTIES INC REIT</title>
        <cusip>431284108</cusip>
        <identifiers>
          <isin value="US4312841087"/>
        </identifiers>
        <balance>20557.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>728128.94000000</valUSD>
        <pctVal>0.801443236211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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"/>
        </identifiers>
        <balance>22297.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2783780.45000000</valUSD>
        <pctVal>3.064075454479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>STAG INDUSTRIAL, INC.</name>
        <lei>549300QWYX2W6FASVQ07</lei>
        <title>STAG INDUSTRIAL INC REIT</title>
        <cusip>85254J102</cusip>
        <identifiers>
          <isin value="US85254J1025"/>
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        <balance>60653.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1365905.56000000</valUSD>
        <pctVal>1.503436702248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>APARTMENT INVESTMENT AND MANAGEMENT COMPANY</name>
        <lei>549300O8FT5GJ4RU1D57</lei>
        <title>APARTMENT INVT &amp; MGMT CO -A REIT</title>
        <cusip>03748R754</cusip>
        <identifiers>
          <isin value="US03748R7540"/>
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        <balance>36324.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1276788.60000000</valUSD>
        <pctVal>1.405346678765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUDSON PACIFIC PROPERTIES, INC.</name>
        <lei>N/A</lei>
        <title>HUDSON PACIFIC PROPERTIES IN REIT</title>
        <cusip>444097109</cusip>
        <identifiers>
          <isin value="US4440971095"/>
        </identifiers>
        <balance>8780.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>222660.80000000</valUSD>
        <pctVal>0.245080208087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RETAIL OPPORTUNITY INVESTMENTS CORP.</name>
        <lei>N/A</lei>
        <title>RETAIL OPPORTUNITY INVESTMEN REIT</title>
        <cusip>76131N101</cusip>
        <identifiers>
          <isin value="US76131N1019"/>
        </identifiers>
        <balance>121051.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1003512.79000000</valUSD>
        <pctVal>1.104555105304</pctVal>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXPOINT RESIDENTIAL TRUST, INC.</name>
        <lei>549300U2J6XVYBF87166</lei>
        <title>NEXPOINT RESIDENTIAL REIT</title>
        <cusip>65341D102</cusip>
        <identifiers>
          <isin value="US65341D1028"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>378150.00000000</valUSD>
        <pctVal>0.416225400645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PS BUSINESS PARKS, INC.</name>
        <lei>N/A</lei>
        <title>PS BUSINESS PARKS INC/CA REIT</title>
        <cusip>69360J107</cusip>
        <identifiers>
          <isin value="US69360J1079"/>
        </identifiers>
        <balance>2306.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>312509.12000000</valUSD>
        <pctVal>0.343975231197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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 COMPANY</name>
        <lei>529900KKD4BPVBUAQ734</lei>
        <title>DIAMONDROCK HOSPITALITY CO REIT</title>
        <cusip>252784301</cusip>
        <identifiers>
          <isin value="US2527843013"/>
        </identifiers>
        <balance>47350.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>240538.00000000</valUSD>
        <pctVal>0.264757438636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>SABRA HEALTH CARE REIT, INC.</name>
        <lei>549300E3BC7GU7TAZ621</lei>
        <title>SABRA HEALTH CARE REIT INC REIT</title>
        <cusip>78573L106</cusip>
        <identifiers>
          <isin value="US78573L1061"/>
        </identifiers>
        <balance>91880.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1003329.60000000</valUSD>
        <pctVal>1.104353470156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNSTONE HOTEL INVESTORS, INC.</name>
        <lei>529900ZQ2V52V96ATF67</lei>
        <title>SUNSTONE HOTEL INVESTORS INC REIT</title>
        <cusip>867892101</cusip>
        <identifiers>
          <isin value="US8678921011"/>
        </identifiers>
        <balance>81750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>712042.50000000</valUSD>
        <pctVal>0.783737074809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAMDEN PROPERTY TRUST</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>CAMDEN PROPERTY TRUST REIT</title>
        <cusip>133131102</cusip>
        <identifiers>
          <isin value="US1331311027"/>
        </identifiers>
        <balance>7270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>576074.80000000</valUSD>
        <pctVal>0.634078975094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOST HOTELS &amp; RESORTS, INC.</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
        <title>HOST HOTELS &amp; RESORTS INC REIT</title>
        <cusip>44107P104</cusip>
        <identifiers>
          <isin value="US44107P1049"/>
        </identifiers>
        <balance>100320.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1107532.80000000</valUSD>
        <pctVal>1.219048746286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYATT HOTELS CORPORATION</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>HYATT HOTELS CORP - CL A COMMON STOCK</title>
        <cusip>448579102</cusip>
        <identifiers>
          <isin value="US4485791028"/>
        </identifiers>
        <balance>6100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>292190.00000000</valUSD>
        <pctVal>0.321610207099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>SEI INSTITUTIONAL MANAGED TRUST</ncom:nameOfApplicant>
      <ncom:signature>James Hoffmayer</ncom:signature>
      <ncom:signerName>James Hoffmayer</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
