V3 Capital Management

V3 Capital Management as of March 31, 2013

Portfolio Holdings for V3 Capital Management

V3 Capital Management holds 0 positions in its portfolio as reported in the March 2013 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  DiscretiManager  Sole  Shared

AMERCO CMN             COM  023586100    6449    37161               Sole           Sole
BRE PROPERTIES         CL A 05564E106    7764   159500               Sole           Sole
CHATHAM LODGING TR     COM  16208T102   19354  1099041               Sole           Sole
CINCINNATI BELL INC.   COM  171871106    3950  1211578               Sole           Sole
COUSINS PPTYS INC      COM  222795106   12075  1129550               Sole           Sole
EMERITUS CORP          COM  291005106    9972   358830               Sole           Sole
EQUITY RESIDENTIAL     COM  29476L107   13380   243000               Sole           Sole
FOREST CITY ENT        CL A 345550107    8179   460275               Sole           Sole
HYATT HOTELS CORP      CL A 448579102   19090   441600               Sole           Sole
MOVE INC CMN           COM  62458M207    4151   347334               Sole           Sole
NORTHEAST BANCORP      COM  663904209     261    27601               Sole           Sole
REALOGY HOLDINGS CORP  COM  75605Y106   11160   228493               Sole           Sole
RLJ LODGING TRUST      COM  74965L101    5834   256309               Sole           Sole
ST. JOE COMPANY        COM  790148100    9856   463798               Sole           Sole
THOMAS PPTYS GRP       COM  884453101    2501   487604               Sole           Sole