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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
APARTMENT INCOME REIT CORP COM 03750L109 53,095 971,191 SH   SOLE   971,191 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 47,555 2,944,586 SH   SOLE   2,944,586 0 0
BOYD GAMING CORP COM 103304101 11,715 178,666 SH   SOLE   178,666 0 0
BRIGHTSPIRE CAPITAL INC COM CL A 10949T109 11,806 1,150,693 SH   SOLE   1,150,693 0 0
BROADMARK RLTY CAP INC *W EXP 11/15/202 11135B118 20 221,664 SH   SOLE   221,664 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 49,705 549,222 SH   SOLE   549,222 0 0
FEDERAL RLTY INVT TR SH BEN INT NEW 313747206 22,360 164,027 SH   SOLE   164,027 0 0
FIRST INDL RLTY TR INC COM 32054K103 33,809 510,714 SH   SOLE   510,714 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 30,471 1,179,660 SH   SOLE   1,179,660 0 0
INVENTRUST PPTYS CORP COM NEW 46124J201 22,039 808,492 SH   SOLE   808,492 0 0
NATIONAL HEALTH INVS INC COM 63633D104 34,701 603,802 SH   SOLE   603,802 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 34,294 713,420 SH   SOLE   713,420 0 0
NETSTREIT CORP COM 64119V303 4,241 185,183 SH   SOLE   185,183 0 0
PARK HOTELS & RESORTS INC COM 700517105 32,020 1,695,985 SH   SOLE   1,695,985 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 34,680 1,769,397 SH   SOLE   1,769,397 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 43,653 3,721,481 SH   SOLE   3,721,481 0 0
VENTAS INC COM 92276F100 23,301 455,814 SH   SOLE   455,814 0 0
VERIS RESIDENTIAL INC COM 554489104 40,051 2,179,042 SH   SOLE   2,179,042 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 15,599 174,003 SH   SOLE   174,003 0 0