LONG POND CAPITAL, LP

410 PARK AVENUE, NEW YORK, New York, 10022, (212) 351-1950

Report Date: 03/31/2013

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Company	Class	Value of Shares ($1,000s)	Change in Value ($1,000s)	Change (%)	Shares Held
EQUITY RESIDENTIAL	SH BEN INT	84,252	74,082	728.40	1,400,000
ALTISOURCE ASSET MGMT CORP	COM	63,437	22,603	55.35	211,634
COLONIAL PPTYS TR	COM SH BEN INT	58,176	58,176	New	2,463,017
DIAMONDROCK HOSPITALITY CO	COM	50,954	50,954	New	5,391,978
POST PPTYS INC	COM	41,645	35,000	526.68	831,574
FOREST CITY ENTERPRISES INC	CL A	38,752	17,180	79.64	1,958,169
ASHFORD HOSPITALITY TR INC	COM SHS	34,862	-1,309	(3.62)	2,663,278
SPIRIT RLTY CAP INC	COM	34,480	34,480	New	1,607,459
TAUBMAN CTRS INC	COM	32,577	12,166	59.61	383,849
EMERITUS CORP	COM	28,883	10,080	53.61	1,146,155
BRE PROPERTIES INC	CL A	23,838	-5,745	(19.42)	456,400
HYATT HOTELS CORP	COM CL A	22,436	-17,060	(43.19)	554,259
AVALONBAY CMNTYS INC	COM	21,752	21,752	New	156,500
STRATEGIC HOTELS & RESORTS INC	COM	17,432	-45,171	(72.16)	2,136,267
RLJ LODGING TR	COM	16,599	16,599	New	709,651
MORGANS HOTEL GROUP CO	COM	13,456	159	1.19	1,993,485
SEARS HOMETOWN & OUTLET STORES	COM	9,705	9,705	New	201,215
HERSHA HOSPITALITY TR	SH BEN INT A	9,049	9,049	New	1,544,216
ORIENT-EXPRESS HOTELS LTD	CL A	7,937	7,937	New	690,793
BOSTON PROPERTIES INC	COM	6,814	6,814	New	60,500