V3 Capital Management

V3 Capital Management as of Sept. 30, 2012

Portfolio Holdings for V3 Capital Management

V3 Capital Management holds 0 positions in its portfolio as reported in the September 2012 quarterly 13F filing

                {C}           {C}     {C}     {C}      {C}     {C}   {C}    {C}     {C}     {C}    {C}
        Name of        Title of        Value  Shrs of    SH/   PUT/ Investme Other
         Issuer        Class   CUSIP  (x1000)  PRN AMT  PRN   CALL  DiscretiManagers  Sole  Shared

AMREIT INC              Cl B 03216B208    1482   100000               Sole            Sole
BROOKDALE SENIOR LIVING COM  112463104    4064   175000               Sole            Sole
CAPITAL SENIOR LIVING C COM  140475104    9265   640282               Sole            Sole
CAPITAL TRUST INC MD CM Cl A 14052H506     605   160447               Sole            Sole
CHATHAM LODGING TR CMN  COM  16208T102    7242   521741               Sole            Sole
COUSINS PPTYS INC CMN   COM  222795106   15453  1946218               Sole            Sole
HYATT HOTELS CORP       COM  448579102   19372   482500               Sole            Sole
IRON MOUNTAIN INC CMN   COM  462846106    3411   100000               Sole            Sole
RLJ LODGING TRUST CMN   COM  74965L101    7377   390109               Sole            Sole
SELECT INCOME REIT CMN  COM  81618T100    4559   185157               Sole            Sole
ST. JOE COMPANY CMN     COM  790148100    6335   324861               Sole            Sole
SUMMIT HOTEL PROPERTIES COM  866082100     854   100000               Sole            Sole
TERRENO REALTY CORP     COM  88146M101   15209   962617               Sole            Sole
THOMAS PPTYS GROUP      COM  884453101    2844   488597               Sole            Sole