Waterfront Capital Partners, LLC In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Waterfront Capital Partners, LLC reported 31 stock positions worth $535.2 million . Its top holding was Cousins Properties (CUZ) at 5.4% of the portfolio, followed by CBRE Class A (CBRE, 5.2% ) and Digital Realty Trust (DLR, 5.2% ). Compared with Q3 2024, it opened 15 new positions, sold out of 17, added to 8 and reduced 8. The biggest buy was a new position in Udr (UDR) and the biggest sale an exit from Independence Realty Trust (IRT).
Location NEW YORK, NY
CIK 0001595077
Portfolio Value $535.2M (Q4 2024) Holdings 31 stocks · $535.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 CUZ Cousins Properties Inc. 944,953 $29.0M Add +12.9% CBRE CBRE Group Inc. Class A 212,765 $27.9M Reduce -7.7% DLR Digital Realty Trust Inc. 156,097 $27.7M Reduce -29.8% UDR Udr Inc. 616,034 $26.7M New EQIX Equinix Inc. 27,601 $26.0M Reduce -34.8% REG Regency Centers Corp. 348,643 $25.8M Reduce -25.1% IRM Iron Mountain Inc. filed as IRON MTN INC DEL 237,847 $25.0M Reduce -1.1% SPG Simon Property Group Inc. 144,602 $24.9M New VNO Vornado Realty Trust 565,776 $23.8M Add +78.4% VTR Ventas Inc. 401,773 $23.7M Reduce -11.6% GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 970,199 $23.1M Add +316.3% AVB Avalonbay Communities Inc. 103,655 $22.8M New CPT Camden Property Trust 192,172 $22.3M New CDP Copt Defense Properties 709,216 $22.0M Add +43.7% RHP Ryman Hospitality Properties 200,925 $21.0M Add +474.1% OHI Omega Healthcare Investors 551,424 $20.9M Add +3.5% ADC Agree Realty Corp. 253,466 $17.9M Reduce -10.5% AHR American Healthcare REIT Inc. 530,119 $15.1M New FR First Industrial Realty TR 291,741 $14.6M New MAC The Macerich Co. 618,187 $12.3M New HST Host Hotels & Resorts Inc. 699,322 $12.3M Add +6.8% STWD Starwood Property Trust Inc. 633,016 $12.0M Add +138.4% KRC Kilroy Realty Corp. 286,513 $11.6M New NNN NNN REIT Inc. 280,539 $11.5M New ESRT Empire State Realty Trust-A 1,070,517 $11.0M New VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 105,285 $7.6M New O Realty Income Corp. 111,353 $5.9M New CUBE Cubesmart 92,909 $4.0M New TRNO Terreno Realty Corp. 65,851 $3.9M New SHO Sunstone Hotel Investors Inc. 187,440 $2.2M New BKD Brookdale Senior Living Inc. 202,613 $1.0M Reduce -91.1%
Options reported separately and not counted above: IYR calls ($9.3M).
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ IRT Independence Realty Trust Inc. Sold out 0.00% −5.87 ESS Essex Property Trust Inc. Sold out 0.00% −4.56 STAG Stag Industrial Inc. Sold out 0.00% −4.52 WY Weyerhaeuser Co. Sold out 0.00% −3.89 BXP BXP Inc. Sold out 0.00% −2.93 SKT Tanger Inc. Sold out 0.00% −2.83 WPC WP Carey Inc. Sold out 0.00% −2.82 BKD Brookdale Senior Living Inc. Reduce -91.1% 0.19% −2.64 AMT American Tower Corp. Sold out 0.00% −2.20 EQIX Equinix Inc. Reduce -34.8% 4.86% −2.04 INVH Invitation Homes Inc. Sold out 0.00% −1.99 EGP Eastgroup Properties Inc. Sold out 0.00% −1.89 NHI Natl Health Investors Inc. Sold out 0.00% −1.86 FRT Federal Realty Invs Trust Sold out 0.00% −1.76 DLR Digital Realty Trust Inc. Reduce -29.8% 5.17% −1.44 REG Regency Centers Corp. Reduce -25.1% 4.82% −1.36 VTR Ventas Inc. Reduce -11.6% 4.42% −0.94 ARE Alexandria Real Estate Equit Sold out 0.00% −0.92 IRM Iron Mountain Inc. Reduce -1.1% 4.67% −0.58 ADC Agree Realty Corp. Reduce -10.5% 3.34% −0.58 BX Blackstone Inc. Sold out 0.00% −0.56 SILA Sila Realty Trust Inc. Sold out 0.00% −0.30 MPT Medical Properties Trust Inc. Sold out 0.00% −0.27 CURB Curbline Properties Corp. Sold out 0.00% −0.27 CBRE CBRE Group Inc. Class A Reduce -7.7% 5.22% −0.06
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ UDR Udr Inc. New 5.00% +5.00 SPG Simon Property Group Inc. New 4.65% +4.65 AVB Avalonbay Communities Inc. New 4.26% +4.26 CPT Camden Property Trust New 4.17% +4.17 GDS GDS Holdings Ltd. - ADR Add +316.3% 4.31% +3.43 RHP Ryman Hospitality Properties Add +474.1% 3.92% +3.23 AHR American Healthcare REIT Inc. New 2.81% +2.81 FR First Industrial Realty TR New 2.73% +2.73 MAC The Macerich Co. New 2.30% +2.30 KRC Kilroy Realty Corp. New 2.17% +2.17 VNO Vornado Realty Trust Add +78.4% 4.44% +2.15 NNN NNN REIT Inc. New 2.14% +2.14 ESRT Empire State Realty Trust-A New 2.06% +2.06 VMRK Vivmark Residential New 1.41% +1.41 CDP Copt Defense Properties Add +43.7% 4.10% +1.35 STWD Starwood Property Trust Inc. Add +138.4% 2.24% +1.25 O Realty Income Corp. New 1.11% +1.11 CUZ Cousins Properties Inc. Add +12.9% 5.41% +0.87 CUBE Cubesmart New 0.74% +0.74 TRNO Terreno Realty Corp. New 0.73% +0.73 SHO Sunstone Hotel Investors Inc. New 0.41% +0.41 HST Host Hotels & Resorts Inc. Add +6.8% 2.29% +0.17 OHI Omega Healthcare Investors Add +3.5% 3.90% −0.09
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ IYR iShares US Real Estate ETF call Reduce -94.4% 100,000 $9.3M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 0 $0 Q1 2026 0 $0 Q4 2025 0 $0 Q3 2025 20 $152.8M IRM, WELL, REG, DLR, REXR Q2 2025 31 $402.5M DLR, ESS, IRM, AVB, BKD Q1 2025 34 $584.1M AMH, AMT, CBRE, VTR, CPT Q4 2024 31 $535.2M CUZ, CBRE, DLR, UDR, EQIX Q3 2024 33 $544.1M EQIX, DLR, REG, IRT, VTR Q2 2024 29 $778.7M DLR, UDR, EGP, STAG, IRT Q1 2024 37 $1.1B VMRK, EQIX, INVH, STAG, SKT