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        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>1045967.11000000</valUSD>
        <pctVal>0.588108213404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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</title>
        <cusip>03064D108</cusip>
        <identifiers>
          <isin value="US03064D1081"/>
          <ticker value="COLD"/>
        </identifiers>
        <balance>83434.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2735800.86000000</valUSD>
        <pctVal>1.538238574255</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>Capital &amp; Counties Properties</name>
        <lei>549300TTXXZ1SHUI0D54</lei>
        <title>Capital &amp; Counties Properties PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B62G9D36"/>
          <ticker value="CAPC"/>
          <other otherDesc="SEDOL" value="B62G9D3"/>
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        <balance>363442.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
        <valUSD>830245.92000000</valUSD>
        <pctVal>0.466816250749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CK Asset Holdings Ltd</name>
        <lei>5299006GJZSGP78B8S35</lei>
        <title>CK Asset Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG2177B1014"/>
          <ticker value="1113"/>
          <other otherDesc="SEDOL" value="BYZQ077"/>
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        <balance>202000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.79755000"/>
        <valUSD>1274209.28000000</valUSD>
        <pctVal>0.716440255147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lendlease Global Commercial RE</name>
        <lei>N/A</lei>
        <title>Lendlease Global Commercial REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SGXC61949712"/>
          <ticker value="LREIT"/>
          <other otherDesc="SEDOL" value="BKBPXB5"/>
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        <balance>1544300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34760000"/>
        <valUSD>1025971.68000000</valUSD>
        <pctVal>0.576865530435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Warehouses De Pauw CVA</name>
        <lei>549300HWDYC5JXC85138</lei>
        <title>Warehouses De Pauw CVA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974349814"/>
          <ticker value="WDP"/>
          <other otherDesc="SEDOL" value="BK8VQD9"/>
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        <balance>31993.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>1535485.13000000</valUSD>
        <pctVal>0.863345900535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESR Cayman Ltd</name>
        <lei>549300C81AR42BZUFZ09</lei>
        <title>ESR Cayman Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG319891092"/>
          <ticker value="1821"/>
          <other otherDesc="SEDOL" value="BHNCRK0"/>
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        <balance>359600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.79755000"/>
        <valUSD>1216386.67000000</valUSD>
        <pctVal>0.683928762638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Realty Investment Trus</name>
        <lei>549300LI6XZ51GOCJ427</lei>
        <title>Federal Realty Investment Trust</title>
        <cusip>313747206</cusip>
        <identifiers>
          <isin value="US3137472060"/>
          <ticker value="FRT"/>
        </identifiers>
        <balance>15730.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2144313.60000000</valUSD>
        <pctVal>1.205667394526</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>Merlin Properties Socimi SA</name>
        <lei>959800L8KD863DP30X04</lei>
        <title>Merlin Properties Socimi SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0105025003"/>
          <ticker value="MRL"/>
          <other otherDesc="SEDOL" value="BNGNB77"/>
        </identifiers>
        <balance>109436.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>1185679.81000000</valUSD>
        <pctVal>0.666663442915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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</title>
        <cusip>133131102</cusip>
        <identifiers>
          <isin value="US1331311027"/>
          <ticker value="CPT"/>
        </identifiers>
        <balance>19441.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3473717.88000000</valUSD>
        <pctVal>1.953141735285</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>Highwoods Properties Inc</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>Highwoods Properties Inc</title>
        <cusip>431284108</cusip>
        <identifiers>
          <isin value="US4312841087"/>
          <ticker value="HIW"/>
        </identifiers>
        <balance>5735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255723.65000000</valUSD>
        <pctVal>0.143783850838</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>Gecina SA</name>
        <lei>9695003E4MMA10IBTR26</lei>
        <title>Gecina SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0010040865"/>
          <ticker value="GFC"/>
          <other otherDesc="SEDOL" value="7742468"/>
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        <balance>16356.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>2288709.33000000</valUSD>
        <pctVal>1.286855716780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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</title>
        <cusip>101121101</cusip>
        <identifiers>
          <isin value="US1011211018"/>
          <ticker value="BXP"/>
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        <balance>14978.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1725166.04000000</valUSD>
        <pctVal>0.969996386989</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>LondonMetric Property PLC</name>
        <lei>213800OCERWWPQDURL87</lei>
        <title>LondonMetric Property PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B4WFW713"/>
          <ticker value="LMP"/>
          <other otherDesc="SEDOL" value="B4WFW71"/>
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        <balance>309664.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
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        <pctVal>0.669136515714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SITE Centers Corp</name>
        <lei>W2AVA6SODOQ1LCYJQR54</lei>
        <title>SITE Centers Corp</title>
        <cusip>82981J109</cusip>
        <identifiers>
          <isin value="US82981J1097"/>
          <ticker value="SITC"/>
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        <balance>54230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>858460.90000000</valUSD>
        <pctVal>0.482680479481</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Essex Property Trust Inc</name>
        <lei>549300TR2H2VEFX0NC60</lei>
        <title>Essex Property Trust Inc</title>
        <cusip>297178105</cusip>
        <identifiers>
          <isin value="US2971781057"/>
          <ticker value="ESS"/>
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        <balance>10123.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3565624.29000000</valUSD>
        <pctVal>2.004817274668</pctVal>
        <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>Alexandria Real Estate Equitie</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities Inc</title>
        <cusip>015271109</cusip>
        <identifiers>
          <isin value="US0152711091"/>
          <ticker value="ARE"/>
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        <balance>21742.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4847596.32000000</valUSD>
        <pctVal>2.725622234011</pctVal>
        <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>Life Science Reit PLC</name>
        <lei>213800RG7JNX7K8F7525</lei>
        <title>Life Science Reit PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BP5X4Q29"/>
          <ticker value="LABS"/>
          <other otherDesc="SEDOL" value="BP5X4Q2"/>
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        <balance>634627.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
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        <pctVal>0.489020850845</pctVal>
        <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>Goodman Group</name>
        <lei>N/A</lei>
        <title>Goodman Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000GMG2"/>
          <ticker value="GMG"/>
          <other otherDesc="SEDOL" value="B03FYZ4"/>
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        <balance>81525.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.37447550"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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"/>
          <ticker value="CUBE"/>
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        <balance>57267.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3259064.97000000</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>Castellum AB</name>
        <lei>549300GU5OHTR1T5IY68</lei>
        <title>Castellum AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000379190"/>
          <ticker value="CAST"/>
          <other otherDesc="SEDOL" value="B0XP0T0"/>
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        <balance>88213.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.03620000"/>
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        <pctVal>1.333724922788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SBA Communications Corp</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA Communications Corp</title>
        <cusip>78410G104</cusip>
        <identifiers>
          <isin value="US78410G1040"/>
          <ticker value="SBAC"/>
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        <balance>3401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1323057.02000000</valUSD>
        <pctVal>0.743905513686</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Realty Income Corp</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp</title>
        <cusip>756109104</cusip>
        <identifiers>
          <isin value="US7561091049"/>
          <ticker value="O"/>
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        <balance>13158.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>941981.22000000</valUSD>
        <pctVal>0.529640833882</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>Sun Communities Inc</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>Sun Communities Inc</title>
        <cusip>866674104</cusip>
        <identifiers>
          <isin value="US8666741041"/>
          <ticker value="SUI"/>
        </identifiers>
        <balance>4666.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>979720.02000000</valUSD>
        <pctVal>0.550859950652</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>Link REIT</name>
        <lei>529900XUE70U36QX5M62</lei>
        <title>Link REIT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0823032773"/>
          <ticker value="823"/>
          <other otherDesc="SEDOL" value="B0PB4M7"/>
        </identifiers>
        <balance>201400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.79755000"/>
        <valUSD>1774187.15000000</valUSD>
        <pctVal>0.997559125000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sankei Real Estate Inc</name>
        <lei>N/A</lei>
        <title>Sankei Real Estate Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3048880003"/>
          <ticker value="2972"/>
          <other otherDesc="SEDOL" value="BHXM4W1"/>
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        <balance>1536.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
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        <pctVal>0.897677560860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Orion Office REIT Inc</name>
        <lei>N/A</lei>
        <title>Orion Office REIT Inc</title>
        <cusip>68629Y103</cusip>
        <identifiers>
          <isin value="US68629Y1038"/>
          <ticker value="ONL"/>
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        <balance>1234.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23038.78000000</valUSD>
        <pctVal>0.012953844929</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>
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      </invstOrSec>
      <invstOrSec>
        <name>CIFI Holdings Group Co Ltd</name>
        <lei>549300WGKSV867C0JF48</lei>
        <title>CIFI Holdings Group Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG2140A1076"/>
          <ticker value="884"/>
          <other otherDesc="SEDOL" value="B8Z00N3"/>
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        <balance>1786600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.79755000"/>
        <valUSD>1074588.04000000</valUSD>
        <pctVal>0.604200692648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</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>Granite Real Estate Investment</name>
        <lei>549300A6I7CLE0ZC0396</lei>
        <title>Granite Real Estate Investment Trust</title>
        <cusip>387437114</cusip>
        <identifiers>
          <isin value="CA3874371147"/>
          <ticker value="GRT-U"/>
          <other otherDesc="SEDOL" value="B9GS088"/>
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        <balance>16342.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.26495000"/>
        <valUSD>1361671.84000000</valUSD>
        <pctVal>0.765617183761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ryman Hospitality Properties I</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc</title>
        <cusip>78377T107</cusip>
        <identifiers>
          <isin value="US78377T1079"/>
          <ticker value="RHP"/>
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        <balance>22737.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2090894.52000000</valUSD>
        <pctVal>1.175631842356</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Hudson Pacific Properties Inc</name>
        <lei>N/A</lei>
        <title>Hudson Pacific Properties Inc</title>
        <cusip>444097109</cusip>
        <identifiers>
          <isin value="US4440971095"/>
          <ticker value="HPP"/>
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        <balance>35210.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>870039.10000000</valUSD>
        <pctVal>0.489190468611</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>WeWork Inc</name>
        <lei>N/A</lei>
        <title>WeWork Inc</title>
        <cusip>96209A104</cusip>
        <identifiers>
          <isin value="US96209A1043"/>
          <ticker value="WE"/>
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        <balance>32628.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>280600.80000000</valUSD>
        <pctVal>0.157771342511</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="265740.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
          <ticker value="AMT"/>
        </identifiers>
        <balance>5890.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1722825.00000000</valUSD>
        <pctVal>0.968680107693</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>Ascendas Real Estate Investmen</name>
        <lei>549300ILIBAEMQZK3L20</lei>
        <title>Ascendas Real Estate Investment Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1M77906915"/>
          <ticker value="AREIT"/>
          <other otherDesc="SEDOL" value="6563875"/>
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        <balance>734600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34760000"/>
        <valUSD>1609497.91000000</valUSD>
        <pctVal>0.904960520534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mitsui Fudosan Co Ltd</name>
        <lei>353800ND4ZKNZDYKMF33</lei>
        <title>Mitsui Fudosan Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3893200000"/>
          <ticker value="8801"/>
          <other otherDesc="SEDOL" value="6597603"/>
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        <balance>99400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
        <valUSD>1970184.65000000</valUSD>
        <pctVal>1.107761193932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Segro PLC</name>
        <lei>213800XC35KGM9NFC641</lei>
        <title>Segro PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B5ZN1N88"/>
          <ticker value="SGRO"/>
          <other otherDesc="SEDOL" value="B5ZN1N8"/>
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        <balance>172504.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
        <valUSD>3357228.97000000</valUSD>
        <pctVal>1.887644374913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Invitation Homes Inc</name>
        <lei>N/A</lei>
        <title>Invitation Homes Inc</title>
        <cusip>46187W107</cusip>
        <identifiers>
          <isin value="US46187W1071"/>
          <ticker value="INVH"/>
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        <balance>97334.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4413123.56000000</valUSD>
        <pctVal>2.481334439286</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Terreno Realty Corp</name>
        <lei>N/A</lei>
        <title>Terreno Realty Corp</title>
        <cusip>88146M101</cusip>
        <identifiers>
          <isin value="US88146M1018"/>
          <ticker value="TRNO"/>
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        <balance>15768.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1344852.72000000</valUSD>
        <pctVal>0.756160421192</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>
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      <invstOrSec>
        <name>CTP NV</name>
        <lei>3157000YTVO4TN65UM14</lei>
        <title>CTP NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL00150006R6"/>
          <ticker value="CTPNV"/>
          <other otherDesc="SEDOL" value="BLF7T27"/>
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        <balance>39766.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
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        <pctVal>0.476021001587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ingenia Communities Group</name>
        <lei>N/A</lei>
        <title>Ingenia Communities Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000INA9"/>
          <ticker value="INA"/>
          <other otherDesc="SEDOL" value="B84GSC7"/>
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        <balance>468039.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.37447550"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Open House Group Co Ltd</name>
        <lei>529900WQOGPBIJEHW865</lei>
        <title>Open House Group Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3173540000"/>
          <ticker value="3288"/>
          <other otherDesc="SEDOL" value="BD3D170"/>
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        <balance>16400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Equinix Inc</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix Inc</title>
        <cusip>29444U700</cusip>
        <identifiers>
          <isin value="US29444U7000"/>
          <ticker value="EQIX"/>
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        <balance>8531.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7215861.04000000</valUSD>
        <pctVal>4.057208973241</pctVal>
        <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>RLJ Lodging Trust</name>
        <lei>N/A</lei>
        <title>RLJ Lodging Trust</title>
        <cusip>74965L101</cusip>
        <identifiers>
          <isin value="US74965L1017"/>
          <ticker value="RLJ"/>
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        <balance>140104.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1951648.72000000</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>Ascendas India Trust</name>
        <lei>N/A</lei>
        <title>Ascendas India Trust</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1V35936920"/>
          <ticker value="AIT"/>
          <other otherDesc="SEDOL" value="B23DMQ9"/>
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        <balance>708300.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.34760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Metropolitan Fund Invest</name>
        <lei>353800QDHNIP60E1LQ93</lei>
        <title>Japan Metropolitan Fund Invest</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3039710003"/>
          <ticker value="8953"/>
          <other otherDesc="SEDOL" value="6513342"/>
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        <balance>1288.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
        <valUSD>1109607.34000000</valUSD>
        <pctVal>0.623890736208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Instone Real Estate Group SE</name>
        <lei>391200DINUIRPDZQHX03</lei>
        <title>Instone Real Estate Group SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A2NBX80"/>
          <ticker value="INS"/>
          <other otherDesc="SEDOL" value="BFYXP82"/>
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        <balance>35427.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>667639.56000000</valUSD>
        <pctVal>0.375388771860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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</title>
        <cusip>42250P103</cusip>
        <identifiers>
          <isin value="US42250P1030"/>
          <ticker value="PEAK"/>
        </identifiers>
        <balance>84456.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3048017.04000000</valUSD>
        <pctVal>1.713786063330</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>Dalata Hotel Group PLC</name>
        <lei>635400L2CWET7ONOBJ04</lei>
        <title>Dalata Hotel Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BJMZDW83"/>
          <ticker value="DHG"/>
          <other otherDesc="SEDOL" value="BJMZDW8"/>
        </identifiers>
        <balance>176002.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>745407.79000000</valUSD>
        <pctVal>0.419114941037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</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</title>
        <cusip>74340W103</cusip>
        <identifiers>
          <isin value="US74340W1036"/>
          <ticker value="PLD"/>
        </identifiers>
        <balance>51979.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8751184.44000000</valUSD>
        <pctVal>4.920463939042</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>Goldman Sachs Financial Square Government Fund</name>
        <lei>N/A</lei>
        <title>Goldman Sachs Financial Square Government Fund</title>
        <cusip>38141W273</cusip>
        <identifiers>
          <isin value="US38141W2733"/>
          <ticker value="FGTXX"/>
        </identifiers>
        <balance>2804188.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2804188.00000000</valUSD>
        <pctVal>1.576690107138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1017300.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AvalonBay Communities Inc</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities Inc</title>
        <cusip>053484101</cusip>
        <identifiers>
          <isin value="US0534841012"/>
          <ticker value="AVB"/>
        </identifiers>
        <balance>21036.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5313483.24000000</valUSD>
        <pctVal>2.987573036813</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Big Yellow Group PLC</name>
        <lei>213800W7Q4V2ZI8LIW31</lei>
        <title>Big Yellow Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002869419"/>
          <ticker value="BYG"/>
          <other otherDesc="SEDOL" value="0286941"/>
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        <balance>65304.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
        <valUSD>1508856.32000000</valUSD>
        <pctVal>0.848373515911</pctVal>
        <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>Host Hotels &amp; Resorts Inc</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
        <title>Host Hotels &amp; Resorts Inc</title>
        <cusip>44107P104</cusip>
        <identifiers>
          <isin value="US44107P1049"/>
          <ticker value="HST"/>
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        <balance>137978.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2399437.42000000</valUSD>
        <pctVal>1.349113983375</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Keihanshin Building Co Ltd</name>
        <lei>N/A</lei>
        <title>Keihanshin Building Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3279000008"/>
          <ticker value="8818"/>
          <other otherDesc="SEDOL" value="6487209"/>
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        <balance>121500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
        <valUSD>1650539.27000000</valUSD>
        <pctVal>0.928036543360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Scentre Group</name>
        <lei>N/A</lei>
        <title>Scentre Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000SCG8"/>
          <ticker value="SCG"/>
          <other otherDesc="SEDOL" value="BLZH0Z7"/>
        </identifiers>
        <balance>558687.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.37447550"/>
        <valUSD>1285192.02000000</valUSD>
        <pctVal>0.722615439374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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</title>
        <cusip>253868103</cusip>
        <identifiers>
          <isin value="US2538681030"/>
          <ticker value="DLR"/>
        </identifiers>
        <balance>15319.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2709471.53000000</valUSD>
        <pctVal>1.523434576043</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Shangri-La Asia Ltd</name>
        <lei>529900FVJ8C1OTM8OL03</lei>
        <title>Shangri-La Asia Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG8063F1068"/>
          <ticker value="69"/>
          <other otherDesc="SEDOL" value="6771032"/>
        </identifiers>
        <balance>1252000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.79755000"/>
        <valUSD>1045859.42000000</valUSD>
        <pctVal>0.588047663342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ventas Inc</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>Ventas Inc</title>
        <cusip>92276F100</cusip>
        <identifiers>
          <isin value="US92276F1003"/>
          <ticker value="VTR"/>
        </identifiers>
        <balance>51181.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2616372.72000000</valUSD>
        <pctVal>1.471088594706</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>STORE Capital Corp</name>
        <lei>5493004EA6C9IHDZ7N66</lei>
        <title>STORE Capital Corp</title>
        <cusip>862121100</cusip>
        <identifiers>
          <isin value="US8621211007"/>
          <ticker value="STOR"/>
        </identifiers>
        <balance>30049.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1033685.60000000</valUSD>
        <pctVal>0.581202779347</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Vonovia SE</name>
        <lei>5299005A2ZEP6AP7KM81</lei>
        <title>Vonovia SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A1ML7J1"/>
          <ticker value="VNA"/>
          <other otherDesc="SEDOL" value="BBJPFY1"/>
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        <balance>118092.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>6507132.88000000</valUSD>
        <pctVal>3.658717617269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cellnex Telecom SA</name>
        <lei>5493008T4YG3AQUI7P67</lei>
        <title>Cellnex Telecom SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0105066007"/>
          <ticker value="CLNX"/>
          <other otherDesc="SEDOL" value="BX90C05"/>
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        <balance>20035.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>1160580.75000000</valUSD>
        <pctVal>0.652551179543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Derwent London PLC</name>
        <lei>213800BXKQ9KZNUR1M61</lei>
        <title>Derwent London PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002652740"/>
          <ticker value="DLN"/>
          <other otherDesc="SEDOL" value="0265274"/>
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        <balance>19133.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
        <valUSD>890090.60000000</valUSD>
        <pctVal>0.500464677645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hongkong Land Holdings Ltd</name>
        <lei>213800XCHYNRPAYGXW28</lei>
        <title>Hongkong Land Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG4587L1090"/>
          <ticker value="HKL"/>
          <other otherDesc="SEDOL" value="6434915"/>
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        <balance>183800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>955689.24000000</valUSD>
        <pctVal>0.537348341197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hulic Reit Inc</name>
        <lei>N/A</lei>
        <title>Hulic Reit Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047660000"/>
          <ticker value="3295"/>
          <other otherDesc="SEDOL" value="BJ04C42"/>
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        <balance>1088.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mitsubishi Estate Co Ltd</name>
        <lei>353800KOFMRGOXSJ5Z65</lei>
        <title>Mitsubishi Estate Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3899600005"/>
          <ticker value="8802"/>
          <other otherDesc="SEDOL" value="6596729"/>
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        <balance>119100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEXTDC Ltd</name>
        <lei>529900RTERU3X7G3D672</lei>
        <title>NEXTDC Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NXT8"/>
          <ticker value="NXT"/>
          <other otherDesc="SEDOL" value="B5LMKP4"/>
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        <balance>174617.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.37447550"/>
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        <pctVal>0.911669708067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chartwell Retirement Residence</name>
        <lei>549300M7UBEIZBWP4069</lei>
        <title>Chartwell Retirement Residences</title>
        <cusip>16141A103</cusip>
        <identifiers>
          <isin value="CA16141A1030"/>
          <ticker value="CSH-U"/>
          <other otherDesc="SEDOL" value="B8S8C94"/>
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        <balance>132892.00000000</balance>
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        <valUSD>1241775.12000000</valUSD>
        <pctVal>0.698203739191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GDS Holdings Ltd</name>
        <lei>391200MGV8DDCHTN2R77</lei>
        <title>GDS Holdings Ltd</title>
        <cusip>36165L108</cusip>
        <identifiers>
          <isin value="US36165L1089"/>
          <ticker value="GDS"/>
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        <balance>16251.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>766397.16000000</valUSD>
        <pctVal>0.430916479319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="726264.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EastGroup Properties Inc</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>EastGroup Properties Inc</title>
        <cusip>277276101</cusip>
        <identifiers>
          <isin value="US2772761019"/>
          <ticker value="EGP"/>
        </identifiers>
        <balance>13236.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3015822.60000000</valUSD>
        <pctVal>1.695684332971</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>Swire Properties Ltd</name>
        <lei>5299001L12PHYVQ92465</lei>
        <title>Swire Properties Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK0000063609"/>
          <ticker value="1972"/>
          <other otherDesc="SEDOL" value="B67C2G0"/>
        </identifiers>
        <balance>497000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.79755000"/>
        <valUSD>1245920.50000000</valUSD>
        <pctVal>0.700534531433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage</title>
        <cusip>74460D109</cusip>
        <identifiers>
          <isin value="US74460D1090"/>
          <ticker value="PSA"/>
        </identifiers>
        <balance>20032.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7503185.92000000</valUSD>
        <pctVal>4.218761014628</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>Kilroy Realty Corp</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>Kilroy Realty Corp</title>
        <cusip>49427F108</cusip>
        <identifiers>
          <isin value="US49427F1084"/>
          <ticker value="KRC"/>
        </identifiers>
        <balance>13066.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>868366.36000000</valUSD>
        <pctVal>0.488249949427</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>Simon Property Group Inc</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>Simon Property Group Inc</title>
        <cusip>828806109</cusip>
        <identifiers>
          <isin value="US8288061091"/>
          <ticker value="SPG"/>
        </identifiers>
        <balance>34887.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5573895.99000000</valUSD>
        <pctVal>3.133993393329</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>Canadian Apartment Properties</name>
        <lei>549300B1MYVTQEB2DI90</lei>
        <title>Canadian Apartment Properties REIT</title>
        <cusip>134921105</cusip>
        <identifiers>
          <isin value="CA1349211054"/>
          <ticker value="CAR-U"/>
          <other otherDesc="SEDOL" value="2117599"/>
        </identifiers>
        <balance>41577.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.26495000"/>
        <valUSD>1970794.83000000</valUSD>
        <pctVal>1.108104275341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Welltower Inc</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower Inc</title>
        <cusip>95040Q104</cusip>
        <identifiers>
          <isin value="US95040Q1040"/>
          <ticker value="WELL"/>
        </identifiers>
        <balance>31754.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2723540.58000000</valUSD>
        <pctVal>1.531345077033</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>Tritax EuroBox PLC</name>
        <lei>213800HK59N7H979QU33</lei>
        <title>Tritax EuroBox PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BG382L74"/>
          <ticker value="BOXE"/>
          <other otherDesc="SEDOL" value="BG43LH0"/>
        </identifiers>
        <balance>713811.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87834800"/>
        <valUSD>1124741.47000000</valUSD>
        <pctVal>0.632400091876</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kenedix Retail REIT Corp</name>
        <lei>353800IOH9ONLGE3AQ55</lei>
        <title>Kenedix Retail REIT Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047900000"/>
          <ticker value="3453"/>
          <other otherDesc="SEDOL" value="BTLX226"/>
        </identifiers>
        <balance>265.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
        <valUSD>652070.22000000</valUSD>
        <pctVal>0.366634713875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITE Group PLC/The</name>
        <lei>213800BBUUWVDH9YI827</lei>
        <title>UNITE Group PLC/The</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0006928617"/>
          <ticker value="UTG"/>
          <other otherDesc="SEDOL" value="0692861"/>
        </identifiers>
        <balance>140033.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.73879750"/>
        <valUSD>2106136.05000000</valUSD>
        <pctVal>1.184201585030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Duke Realty Corp</name>
        <lei>254900E47KH1NFFKNF25</lei>
        <title>Duke Realty Corp</title>
        <cusip>264411505</cusip>
        <identifiers>
          <isin value="US2644115055"/>
          <ticker value="DRE"/>
        </identifiers>
        <balance>57313.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3762025.32000000</valUSD>
        <pctVal>2.115246233437</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>GLP J-Reit</name>
        <lei>353800E27V9KA51K2I90</lei>
        <title>GLP J-Reit</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3047510007"/>
          <ticker value="3281"/>
          <other otherDesc="SEDOL" value="B8RBZV7"/>
        </identifiers>
        <balance>1307.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
        <valUSD>2259173.63000000</valUSD>
        <pctVal>1.270248896554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MGM Growth Properties LLC</name>
        <lei>549300E2UGIBHWE12262</lei>
        <title>MGM Growth Properties LLC</title>
        <cusip>55303A105</cusip>
        <identifiers>
          <isin value="US55303A1051"/>
          <ticker value="MGP"/>
        </identifiers>
        <balance>21755.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>888691.75000000</valUSD>
        <pctVal>0.499678156571</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"/>
          <ticker value="CUZ"/>
        </identifiers>
        <balance>43684.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1759591.52000000</valUSD>
        <pctVal>0.989352547756</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>United Urban Investment Corp</name>
        <lei>353800GYZWBD7BDCN841</lei>
        <title>United Urban Investment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3045540006"/>
          <ticker value="8960"/>
          <other otherDesc="SEDOL" value="6723839"/>
        </identifiers>
        <balance>1323.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="115.03000000"/>
        <valUSD>1554918.26000000</valUSD>
        <pctVal>0.874272423229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="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>2022-02-23</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs Trust</ncom:nameOfApplicant>
      <ncom:signature>Peter Fortner</ncom:signature>
      <ncom:signerName>Peter Fortner</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
