The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 579,807 4,439,905 SH   DFND 1,2,3 0 4,439,905 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 71,967 1,754,000 SH   DFND 1,2,3 0 1,754,000 0
AVALONBAY CMNTYS INC COM 053484101 616,010 3,452,780 SH   DFND 1,2,3 0 3,452,780 0
BOSTON PROPERTIES INC COM 101121101 854,985 6,575,292 SH   DFND 1,2,3 0 6,575,292 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 9,095 500,000 SH   DFND 1,2,3 0 500,000 0
BRIXMOR PPTY GROUP INC COM 11120U105 169,955 9,108,000 SH   DFND 1,2,3 0 9,108,000 0
COUSINS PPTYS INC COM 222795106 42,263 4,569,000 SH   DFND 1,2,3 0 4,569,000 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 105,040 1,787,000 SH   DFND 1,2,3 0 1,787,000 0
DDR CORP COM 23317H102 36,915 4,120,000 SH   DFND 1,2,3 0 4,120,000 0
DIGITAL RLTY TR INC COM 253868103 539,396 4,735,696 SH   DFND 1,2,3 0 4,735,696 0
EQUINIX INC COM PAR $0.001 29444U700 48,721 107,500 SH   DFND 1,2,3 0 107,500 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 95,786 1,076,000 SH   DFND 1,2,3 0 1,076,000 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 964,330 15,122,000 SH   DFND 1,2,3 0 15,122,000 0
ESSEX PPTY TR INC COM 297178105 42,240 175,000 SH   DFND 1,2,3 0 175,000 0
EXTRA SPACE STORAGE INC COM 30225T102 125,403 1,434,000 SH   DFND 1,2,3 0 1,434,000 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 127,962 963,500 SH   DFND 1,2,3 0 963,500 0
GGP INC COM 36174X101 99,255 4,243,500 SH   DFND 1,2,3 0 4,243,500 0
GRAMERCY PPTY TR COM NEW 385002308 57,108 2,142,097 SH   DFND 1,2,3 0 2,142,097 0
HCP INC COM 40414L109 107,150 4,108,500 SH   DFND 1,2,3 0 4,108,500 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 117,081 3,897,500 SH   DFND 1,2,3 0 3,897,500 0
HIGHWOODS PPTYS INC COM 431284108 108,182 2,124,959 SH   DFND 1,2,3 0 2,124,959 0
HOST HOTELS & RESORTS INC COM 44107P104 268,016 13,502,044 SH   DFND 1,2,3 0 13,502,044 0
INVITATION HOMES INC COM 46187W107 287,943 12,216,500 SH   DFND 1,2,3 0 12,216,500 0
JBG SMITH PPTYS COM 46590V100 133,527 3,844,703 SH   DFND 1,2,3 0 3,844,703 0
KILROY RLTY CORP COM 49427F108 64,289 861,205 SH   DFND 1,2,3 0 861,205 0
KIMCO RLTY CORP COM 49446R109 152,730 8,414,850 SH   DFND 1,2,3 0 8,414,850 0
LIFE STORAGE INC COM 53223X107 77,580 871,000 SH   DFND 1,2,3 0 871,000 0
MACERICH CO COM 554382101 47,842 728,413 SH   DFND 1,2,3 0 728,413 0
MID AMER APT CMNTYS INC COM 59522J103 296,551 2,949,000 SH   DFND 1,2,3 0 2,949,000 0
NATIONAL RETAIL PPTYS INC COM 637417106 34,504 800,000 SH   DFND 1,2,3 0 800,000 0
PARK HOTELS RESORTS INC COM 700517105 44,563 1,550,000 SH   DFND 1,2,3 0 1,550,000 0
PROLOGIS INC COM 74340W103 1,157,459 17,942,319 SH   DFND 1,2,3 0 17,942,319 0
PUBLIC STORAGE COM 74460D109 912,290 4,365,023 SH   DFND 1,2,3 0 4,365,023 0
QTS RLTY TR INC COM CL A 74736A103 53,375 985,500 SH   DFND 1,2,3 0 985,500 0
REALTY INCOME CORP COM 756109104 164,332 2,882,000 SH   DFND 1,2,3 0 2,882,000 0
REGENCY CTRS CORP COM 758849103 362,987 5,247,000 SH   DFND 1,2,3 0 5,247,000 0
RLJ LODGING TR COM 74965L101 40,713 1,853,106 SH   DFND 1,2,3 0 1,853,106 0
SABRA HEALTH CARE REIT INC COM 78573L106 59,933 3,193,000 SH   DFND 1,2,3 0 3,193,000 0
SANDRIDGE ENERGY INC COM NEW 80007P869 1,367 64,873 SH   DFND 1,2,3 0 64,873 0
SIMON PPTY GROUP INC NEW COM 828806109 1,291,132 7,517,948 SH   DFND 1,2,3 0 7,517,948 0
SL GREEN RLTY CORP COM 78440X101 114,101 1,130,500 SH   DFND 1,2,3 0 1,130,500 0
STORE CAP CORP COM 862121100 99,719 3,829,460 SH   DFND 1,2,3 0 3,829,460 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 41,325 2,500,000 SH   DFND 1,2,3 0 2,500,000 0
TAUBMAN CTRS INC COM 876664103 175,025 2,675,000 SH   DFND 1,2,3 0 2,675,000 0
TERRENO RLTY CORP COM 88146M101 58,247 1,661,338 SH   DFND 1,2,3 0 1,661,338 0
TIER REIT INC COM NEW 88650V208 8,917 437,319 SH   DFND 1,2,3 0 437,319 0
VENTAS INC COM 92276F100 885,151 14,750,063 SH   DFND 1,2,3 0 14,750,063 0
VORNADO RLTY TR SH BEN INT 929042109 404,144 5,169,407 SH   DFND 1,2,3 0 5,169,407 0
WASHINGTON PRIME GROUP NEW COM 93964W108 4,770 670,000 SH   DFND 1,2,3 0 670,000 0
XENIA HOTELS & RESORTS INC COM 984017103 32,284 1,495,326 SH   DFND 1,2,3 0 1,495,326 0