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        <CategoryOrItemTxt>LAND</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>40000</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>0</AccumulatedDepreciationAmt>
        <BookValueAmt>40000</BookValueAmt>
      </InvestmentLandGrp>
    </InvestmentsLandSchedule2>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>APARTMENT INVESTMENT &amp; MANAGEMENT CO -A</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>247339</BookValueAmt>
        <EOYFMVAmt>378164</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BOSTON PROPERTIES INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>3544679</BookValueAmt>
        <EOYFMVAmt>4665889</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>UDR INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>450801</BookValueAmt>
        <EOYFMVAmt>729495</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CAMDEN PROPERTY TRUST</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>544939</BookValueAmt>
        <EOYFMVAmt>804499</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>AVALONBAY COMMUNITIES INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>334540</BookValueAmt>
        <EOYFMVAmt>428820</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MID-AMERICA APARTMENT COMM</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>332791</BookValueAmt>
        <EOYFMVAmt>434871</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>RPT REALTY REIT</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>510796</BookValueAmt>
        <EOYFMVAmt>617804</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>ART WORKS &amp; ANTIQUE CARPETS</Desc>
        <BOYBookValueAmt>538028</BOYBookValueAmt>
        <EOYBookValueAmt>538028</EOYBookValueAmt>
        <EOYFMVAmt>538028</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>REAL ESTATE TAX SELF ESCROW</Desc>
        <BOYBookValueAmt>8463</BOYBookValueAmt>
        <EOYBookValueAmt>8463</EOYBookValueAmt>
        <EOYFMVAmt>8463</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>TENANT RECEIVABLES</Desc>
        <EOYBookValueAmt>9326</EOYBookValueAmt>
        <EOYFMVAmt>9326</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>41</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>950</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>30</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER GENERAL AND ADMINISTRATIVE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>320</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>320</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>APT INVT &amp; MGMT - CASH IN LIEU</Desc>
        <RevenueAndExpensesPerBooksAmt>27</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>27</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>27</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilitiesDetail>
        <Desc>TENANT SECURITY DEPOSIT</Desc>
        <BOYBookValueAmt>4500</BOYBookValueAmt>
        <EOYBookValueAmt>4500</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>REAL ESTATE TAXES</CategoryTxt>
        <Amt>29040</Amt>
        <NetInvestmentIncomeAmt>29040</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>