GEM Realty Capital 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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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
AMERICAN HOMES 4 RENT	CL A	02665T306	8,424	370,755	SH		SOLE		370,755	0	0
AMERICOLD RLTY TR	COM	03064D108	12,553	411,440	SH		SOLE		411,440	0	0
BLACKSTONE MTG TR INC	COM CL A	09257W100	12,859	372,071	SH		SOLE		372,071	0	0
BOSTON PROPERTIES INC	COM	101121101	2,815	21,024	SH		SOLE		21,024	0	0
CARETRUST REIT INC	COM	14174T107	2,677	114,093	SH		SOLE		114,093	0	0
COREPOINT LODGING INC	COM	21872L104	2,285	204,541	SH		SOLE		204,541	0	0
COUSINS PPTYS INC	COM	222795106	5,120	530,000	SH		SOLE		530,000	0	0
CYRUSONE INC	COM	23283R100	5,139	98,000	SH		SOLE		98,000	0	0
D R HORTON INC	COM	23331A109	7,982	192,896	SH		SOLE		192,896	0	0
EQUINIX INC	COM	29444U700	5,529	12,200	SH		SOLE		12,200	0	0
HILTON GRAND VACATIONS INC	COM	43283X105	7,447	241,409	SH		SOLE		241,409	0	0
HILTON WORLDWIDE HLDGS INC	COM	43300A203	7,713	92,804	SH		SOLE		92,804	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	3,598	190,360	SH		SOLE		190,360	0	0
HYATT HOTELS CORP	COM CL A	448579102	7,003	96,497	SH		SOLE		96,497	0	0
INVITATION HOMES INC	COM	46187W107	9,002	370,000	SH		SOLE		370,000	0	0
KILROY RLTY CORP	COM	49427F108	10,574	139,205	SH		SOLE		139,205	0	0
NATIONAL STORAGE AFFILIATES	COM SHS BEN IN	637870106	10,028	351,724	SH		SOLE		351,724	0	0
REGENCY CTRS CORP	COM	758849103	8,533	126,435	SH		SOLE		126,435	0	0
REXFORD INDL RLTY INC	COM	76169C100	9,064	253,113	SH		SOLE		253,113	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	3,388	174,000	SH		SOLE		174,000	0	0
SBA COMMUNICATIONS CORP NEW	CL A	78410G104	9,629	48,227	SH		SOLE		48,227	0	0
SITE CENTERS CORP	COM	82981J109	10,882	798,972	SH		SOLE		798,972	0	0
ZAYO GROUP HLDGS INC	COM	98919V105	8,203	288,631	SH		SOLE		288,631	0	0