The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACCESS MIDSTREAM PARTNERS LP UNIT 00434L109 34,517 72,363 SH   DFND 1 55,773 0 16,590
ALTRIA GROUP INC COM 02209S103 318 910 SH   DFND 1 910 0 0
AMERICAN REALTY CAPITAL PPTYS INC COM 02917T104 12,651 82,900 SH   DFND 1 45,180 0 37,720
AMERICAN TOWER CORP COM 03027X100 128,569 175,712 SH   DFND 1 154,552 0 21,160
AMERICAN WTR WKS CO INC NEW COM 030420103 37,152 90,110 SH   DFND 1 78,780 0 11,330
AMERISOURCEBERGEN CORP COM 03073E105 1,069 1,915 SH   DFND 1 1,915 0 0
AMTRUST FINANCIAL SERVICES I COM 032359309 885 2,480 SH   DFND 1 2,480 0 0
ASSOCIATED ESTATES RLTY CORP COM 045604105 9,648 60,000 SH   DFND 1 31,680 0 28,320
AT&T INC COM 00206R102 2,960 8,294 SH   DFND 1 8,294 0 0
ATLAS PIPELINE PARTNERS LP UNIT L P INT 049392103 10,800 28,280 SH   DFND 1 21,680 0 6,600
AV HOMES INC COM 00234P102 9,405 53,044 SH   DFND 1 27,402 0 25,642
AVALONBAY COMMUNITIES INC COM 053484101 59,617 44,190 SH   DFND 1 28,060 0 16,130
B & G FOODS INC NEW COM 05508R106 681 2,000 SH   DFND 1 2,000 0 0
BANK MONTREAL QUE COM 063671101 319 550 SH   DFND   550 0 0
BANK N S HALIFAX COM 064149107 348 650 SH   DFND   650 0 0
BANK OF AMERICA CORPORATION COM 060505104 78,055 564,268 SH   DFND 1 564,268 0 0
BANK OF AMERICA CORPORATION *W EXP 10/26/201 060505153 347 45,000 SH   DFND 1 45,000 0 0
BASIC ENERGY SVCS INC NEW COM 06985P100 3,022 24,994 SH   DFND 1 24,994 0 0
BEAZER HOMES USA INC COM NEW 07556Q881 29,583 168,853 SH   DFND 1 98,410 0 70,443
BRANDYWINE REALTY TRUST SH BEN INT NEW 105368203 24,749 183,055 SH   DFND 1 134,588 0 48,467
BRE PROPERTIES INC CL A 05564E106 49,175 98,310 SH   DFND 1 66,440 0 31,870
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 1,144 2,188 SH   DFND 1 2,188 0 0
BROOKDALE SENIOR LIVING INC COM 112463104 81,763 309,240 SH   DFND 1 193,617 0 115,623
BROOKDALE SR LIVING INC COM 112463104 1,639 6,200 SH   DFND   0 0 6,200
BROOKFIELD CDA OFFICE PPTYS TR UNIT 112823109 264,209 1,056,412 SH   DFND 2 0 1,056,412 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101 1,787 4,893 SH   DFND   0 4,893 0
BROOKFIELD OFFICE PPTYS INC COM 112900105 4,159,368 24,936,256 SH   DFND 2 0 24,936,256 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 917,545 4,519,927 SH   DFND   0 4,519,927 0
BROOKFIELD RENEWABLE ENRGY P PARTNERSHIP UNIT G16258108 1,116,753 4,002,699 SH   DFND   0 4,002,699 0
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 1,797,738 8,149,311 SH   DFND   0 8,149,311 0
CAMDEN PROPERTY TRUST SH BEN INT 133131102 13,330 19,280 SH   DFND 1 10,540 0 8,740
CANADIAN NAT RES LTD COM 136385101 170 600 SH   DFND   600 0 0
CARTER INC COM 146229109 570 770 SH   DFND 1 770 0 0
CDN IMPERIAL BK OF COMMERCE COM 136069101 284 400 SH   DFND   400 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 1,569 3,733 SH   DFND 1 3,733 0 0
CENTERPOINT ENERGY INC COM 15189T107 4,696 19,990 SH   DFND 1 19,990 0 0
CENTURYLINK INC COM 156700106 1,711 4,776 SH   DFND 1 4,776 0 0
CHAMBERS STREET PPTYS COM 157842105 1,814 18,141 SH   DFND 1 9,570 0 8,571
CHEVRON CORP NEW COM 166764100 947 800 SH   DFND 1 800 0 0
CHICAGO BRIDGE & IRON CO N V NY REGISTRY SH 167250109 2,476 4,150 SH   DFND 1 4,150 0 0
CITIGROUP INC COM NEW 172967424 61,999 129,245 SH   DFND   0 129,245 0
COCA COLA CO COM 191216100 7,039 17,550 SH   DFND 1 17,550 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 276 440 SH   DFND 1 440 0 0
CONSOLIDATED-TOMOKA LD CO COM 210226106 9,539 24,997 SH   DFND 1 14,038 0 10,960
COOPER COS INC COM NEW 216648402 845 710 SH   DFND 1 710 0 0
CORENERGY INFRASTRUCTURE TRUST COM 21870U205 3,132 45,000 SH   DFND 1 45,000 0 0
CROWN CASTLE INTERNATIONAL COR COM 228227104 100,901 139,385 SH   DFND 1 123,895 0 15,490
DDR CORP COM 23317H102 6,147 36,917 SH   DFND 1 0 0 36,917
DIAGEO P L C SPON ADR NEW 25243Q205 569 495 SH   DFND 1 495 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 30,635 328,697 SH   DFND 1 225,432 0 103,264
DIANA SHIPPING INC COM Y2066G104 502 5,000 SH   DFND   0 0 5,000
DIGITAL REALTY TRUST INC COM 253868103 35,745 58,598 SH   DFND 1 37,380 0 21,218
DISCOVERY COMMUNICATIONS NEW COM SER C 25470F302 1,095 1,570 SH   DFND 1 1,570 0 0
DOUGLAS EMMETT INC COM 25960P109 47,784 191,518 SH   DFND 1 123,458 0 68,060
DUNKIN BRANDS GROUP INC COM 265504100 664 1,550 SH   DFND 1 1,550 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 48,956 202,715 SH   DFND 1 128,810 0 73,905
EMERGE ENERGY SERVICES LP COM REP PARTN 29102H108 3,020 14,420 SH   DFND 1 14,420 0 0
EMERITUS CORP COM 291005106 12,812 55,270 SH   DFND 1 30,190 0 25,080
ENBRIDGE ENERGY MANAGEMENT LLC SHS UNITS LLI 29250X103 5,563 18,373 SH   DFND 1 18,373 0 0
ENBRIDGE INC COM 29250N105 467 1,110 SH   DFND   1,110 0 0
ENERGY TRANSFER EQUITY LP COM UT LTD PARTN 29273V100 34,465 57,614 SH   DFND 1 45,574 0 12,040
ENERGY TRANSFER PRTNERS LP UNIT LTD PARTN 29273R109 6,171 12,210 SH   DFND 1 12,210 0 0
ENTERPRISE PRODS PARTNERS LP COM 293792107 38,741 62,334 SH   DFND 1 48,004 0 14,330
EPR PPTYS PFD C CNV 5.75% 26884U208 7,663 33,390 SH   DFND 1 33,390 0 0
EPR PPTYS CONV PFD 9% SR E 26884U307 6,653 20,790 SH   DFND 1 20,790 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 18,793 38,470 SH   DFND 1 31,370 0 7,100
EQUITY LIFESTYLE PPTYS IN COM 29472R108 25,059 31,886 SH   DFND 1 21,646 0 10,240
EQUITY RESIDENTIAL SH BEN INT 29476L107 168,775 290,690 SH   DFND 1 184,030 0 106,660
ESSEX PPTY TR INC COM 297178105 40,938 25,760 SH   DFND 1 17,740 0 8,020
EV ENERGY PARTNERS LP COM UNITS 26926V107 9,012 24,115 SH   DFND 1 20,035 0 4,080
EXTERRAN PARTNERS LP COM UNITS 30225N105 9,730 32,230 SH   DFND 1 32,230 0 0
FAMILY DLR STRORES INC COM 307000109 667 1,070 SH   DFND 1 1,070 0 0
FISERV INC COM 337738108 953 1,090 SH   DFND 1 1,090 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 4,035 98,459 SH   DFND 1 98,459 0 0
GENERAL ELECTRIC CO COM 369604103 2,321 10,010 SH   DFND 1 10,010 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 6,899,315 35,766,276 SH   DFND 2 35,766,276 0 0
GENERAL MLS INC COM 370334104 6,294 12,970 SH   DFND 1 12,970 0 0
GENERAL MTRS CO COM 37045V100 21,557 64,716 SH   DFND 1 64,716 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 1,043 4,345 SH   DFND 1 4,345 0 0
GENERAL MTRS CO *W EXP 07/10/202 37045V126 710 4,345 SH   DFND 1 4,345 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 981 6,000 SH   DFND   0 0 6,000
GRAINGER W W INC COM 384802104 915 363 SH   DFND 1 363 0 0
HALLIBURTON CO COM 406216101 10,826 25,950 SH   DFND   0 25,950 0
HCP INC COM 40414L109 827 1,820 SH   DFND 1 1,820 0 0
HIGHWOODS PPTYS INC COM 431284108 52,820 148,330 SH   DFND 1 97,340 0 50,990
HOME LN SERVICING SOLUTIONS ORD SHS G6648D109 5,154 21,500 SH   DFND 1 21,500 0 0
HOST HOTELS & RESORTS INC COM 44107P104 59,276 351,370 SH   DFND 1 207,000 0 144,370
HUNTSMAN CORP COM 447011107 3,646 13,548 SH   DFND 1 13,548 0 0
INERGY LP UNIT LTD PTNR 456615103 21,593 134,786 SH   DFND 1 107,636 0 27,150
IRON MTN INC COM 462846106 107,392 403,519 SH   DFND 1 254,572 0 148,947
ISHARES TR CORE S&P500 ETF 464287200 2,511 1,561 SH   DFND 1 1,561 0 0
ISHARES TR MSCI EMERG ETF 464287234 6,605 17,155 SH   DFND 1 17,155 0 0
ISHARES TR S&P500 GRW 464287309 1,013 1,206 SH   DFND 1 1,206 0 0
ISHARES TR S&P 500 VALUE 464287408 690 910 SH   DFND 1 910 0 0
ISHARES TR MSCI EAFE INDEX 464287465 7,828 13,662 SH   DFND 1 13,662 0 0
ISHARES TR RUSSELL MIDCAP 464287499 19,875 15,301 SH   DFND 1 15,301 0 0
ISHARES TR CORE S&P MCO ETF 464287507 3,169 2,743 SH   DFND 1 2,743 0 0
ISHARES TR RUSSELL 1000 464287622 1,671 1,858 SH   DFND 1 1,858 0 0
ISHARES TR RUSSELL 2000 464287655 10,320 10,639 SH   DFND 1 10,639 0 0
ISHARES TR S&P SMLCP VALU 464287879 1,791 1,917 SH   DFND 1 1,917 0 0
ISHARES TR S&P SMLCP GROW 464287887 1,859 1,920 SH   DFND 1 1,920 0 0
ISHARES TR MSCI VAL IDX 464288877 227 470 SH   DFND 1 470 0 0
ISHARES TR MSCI GRW IDX 464288885 249 404 SH   DFND 1 404 0 0
ISHARES TR HGH DIV EQT FD 46429B663 299 451 SH   DFND 1 451 0 0
ISTAR FINANCIAL INC COM 45031U101 5,185 45,923 SH   DFND 1 25,120 0 20,803
JOHNSON & JOHNSON COM 478160104 6,582 7,666 SH   DFND 1 7,666 0 0
JPMORGAN & CO COM 46625H100 38,563 73,050 SH   DFND 1 73,050 0 0
JPMORGAN & CO *W EXP 10/28/201 46634E114 1,560 10,000 SH   DFND 1 10,000 0 0
JUST ENERGY GROUP INC COM 48213W101 199 3,337 SH   DFND   3,337 0 0
KBR INC COM 48242W106 975 3,000 SH   DFND 1 3,000 0 0
KELLOGG CO COM 487836108 6,302 9,812 SH   DFND 1 9,812 0 0
KINDER MORGAN INC DEL COM 49456B101 2,205 5,780 SH   DFND 1 5,780 0 0
KINDER MORGAN MANAGEMENT LLC SHS 49455U100 11,248 13,456 SH   DFND 1 13,456 0 0
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 527 2,290 SH   DFND 1 2,290 0 0
LIBERTY PROPERTY TRUST SH BEN INT 531172104 62,110 168,047 SH   DFND 1 99,840 0 68,207
LOCKHEED MARTIN CORP COM 539830109 1,020 940 SH   DFND 1 940 0 0
LOWES COS INC COM 548661107 1,690 4,150 SH   DFND   0 0 4,150
MARKWEST ENERGY PARTNERS LP UNIT LTD PARTN 570759100 27,291 40,824 SH   DFND 1 31,234 0 9,590
MASTERCARD INC CL A 57636Q104 715 125 SH   DFND 1 125 0 0
MCDONALDS CORP COM 580135101 8,749 8,838 SH   DFND 1 8,838 0 0
MERCK & CO INC NEW COM 58933Y105 2,053 4,420 SH   DFND 1 4,420 0 0
MGM RESORTS INTERNATIONAL COM 552953101 18,351 124,160 SH   DFND 1 66,250 0 57,910
MICROSOFT CORP COM 594918104 8,830 25,570 SH   DFND 1 25,570 0 0
MID-AMERICA APT CMNTYS INC COM 59522J103 12,754 18,820 SH   DFND 1 10,290 0 8,530
MONDELEZ INTL INC CL A 609207105 6,184 21,675 SH   DFND 1 21,675 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 1,022 1,770 SH   DFND 1 1,770 0 0
MPLX LP COM UNT REP LTD 55336V100 16,879 45,855 SH   DFND 1 37,475 0 8,380
NATIONAL GRID PLC SPON ADR NEW 636274300 8,784 15,500 SH   DFND 1 15,500 0 0
NEWS CORP CL A 65248E104 302 1,980 SH   DFND 1 1,980 0 0
NIKE INC CL B 654106103 255 400 SH   DFND 1 400 0 0
NISOURCE INC COM 65473P105 55,052 192,220 SH   DFND 1 170,310 0 21,910
NORTH AMERIN ENERGY PARTNERS COM 656844107 2,985 70,570 SH   DFND 1 70,570 0 0
NORTHEAST UTILS COM 664397106 64,707 153,992 SH   DFND 1 139,532 0 14,460
NUSTAR ENERGY LP UNIT COM 67058H102 6,542 14,330 SH   DFND 1 14,330 0 0
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 2,178 8,150 SH   DFND 1 8,150 0 0
OCWEN FINL CORP COM NEW 675746309 2,061 5,000 SH   DFND 1 5,000 0 0
ONEOK INC COM 682680103 65,583 158,758 SH   DFND 1 136,948 0 21,810
ORACLE CORP COM 68389X105 356 1,160 SH   DFND 1 1,160 0 0
PAA NAT GAS STORAGE LP COM UNIT LTD 693139107 3,667 17,430 SH   DFND 1 17,430 0 0
PARKWAY PPTYS INC COM 70159Q104 6,111 36,460 SH   DFND 1 19,870 0 16,590
PATTERSON UTI ENERGY INC COM 703481101 774 4,000 SH   DFND 1 4,000 0 0
PEMBINA PIPELINE CORP COM 706327103 45,908 150,003 SH   DFND 1 135,023 0 14,980
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 25,482 134,970 SH   DFND 1 79,750 0 55,220
PEPSICO INC COM 713448108 573 700 SH   DFND 1 700 0 0
PHILIP MORRIS INTL INC COM 718172109 7,822 9,030 SH   DFND 1 9,030 0 0
PRAXAIR INC COM 74005P104 386 335 SH   DFND 1 335 0 0
PROCTER & GAMBLE CO COM 742718109 6,254 8,123 SH   DFND 1 8,123 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 24,631 34,129 SH   DFND 1 22,999 0 11,130
PUBLIC STORAGE COM 74460D109 94,245 61,465 SH   DFND 1 32,938 0 28,527
QEP RESOURCES INC. COM 74733V100 942 3,390 SH   DFND 1 3,390 0 0
RAYONIER INC COM 754907103 26,894 48,553 SH   DFND 1 30,703 0 17,850
ROUSE PPTYS INC COM 779287101 547,029 2,658,060 SH   DFND 2 2,658,060 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 924 1,600 SH   DFND   1,600 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 8,804 13,090 SH   DFND 1 13,090 0 0
SALLY BEAUTY HLDGS INC COM 79546E104 1,144 3,680 SH   DFND 1 3,680 0 0
SBA COMMUNICATIONS CORP COM 78388J106 69,972 94,404 SH   DFND 1 84,774 0 9,630
SEMGROUP CORP CL A 81663A105 50,241 93,280 SH   DFND 1 81,690 0 11,590
SEMPRA ENERGY COM 816851109 100,147 122,489 SH   DFND 1 108,019 0 14,470
SIMON PPTY GROUP INC COM 828806109 138,030 87,405 SH   DFND 1 59,520 0 27,885
SL GREEN REALTY CORP COM 78440X101 104,642 118,655 SH   DFND 1 74,530 0 44,125
SOUTHERN CO COM 842587107 2,407 5,455 SH   DFND 1 5,455 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 25,858 16,119 SH   DFND 1 16,119 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 5,394 3,334 SH   DFND 1 3,334 0 0
SPECTRA ENERGY CORP COM 847560109 134,583 390,549 SH   DFND 1 344,679 0 45,870
STANDARD PACIFIC CORP COM 85375C101 11,048 132,630 SH   DFND 1 71,940 0 60,690
STARWOOD HOTELS & RESORTS WORL COM 85590A401 41,143 65,110 SH   DFND 1 41,750 0 23,360
STRATEGIC HOTELS & RESORTS INC COM 86272T106 12,741 143,805 SH   DFND 1 78,550 0 65,255
SUMMIT MIDSTREAM PARTNERS LP COM UNIT LTD 866142102 2,312 6,770 SH   DFND 1 6,770 0 0
SUN LIFE FINL INC COM 866796105 5,953 19,110 SH   DFND 1 19,110 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 3,300 12,720 SH   DFND 1 12,720 0 0
TARGA RESOURCES CORP COM 87612G101 30,795 47,870 SH   DFND 1 42,120 0 5,750
TECK RESOURCES LTD CL B 878742204 1,167 5,460 SH   DFND 1 5,460 0 0
TEEKAY CORP COM Y8564W103 40,736 100,261 SH   DFND 1 88,431 0 11,830
TESORO LOGISTICS LP COM UNIT LP 88160T107 5,363 8,870 SH   DFND 1 6,730 0 2,140
THE WILLIAMS COMPANIES, INC. COM 969457100 102,284 315,010 SH   DFND 1 277,540 0 37,470
TORONTO DOMINION BK ONT COM NEW 891160509 426 530 SH   DFND   530 0 0
TRANSCANADA CORP COM 89353D107 137,498 319,408 SH   DFND 1 282,808 0 36,600
TRANSCANADA CORP COM 89353D107 86 200 SH   DFND   200 0 0
TRI POINTE HOMES LLC COM 87265H109 10,068 60,722 SH   DFND 1 31,790 0 28,932
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 11,062 16,650 SH   DFND 1 16,650 0 0
UDR INC COM 902653104 31,447 123,370 SH   DFND 1 81,650 0 41,720
UNION PACIFIC CORP COM 907818108 72,234 46,820 SH   DFND 1 41,070 0 5,750
VENTAS INC COM 92276F100 37,224 53,590 SH   DFND 1 36,240 0 17,350
VERIZON COMMUNICATIONS INC COM 92343V104 378 750 SH   DFND 1 750 0 0
WAL-MART STORES INC COM 931142103 223 300 SH   DFND 1 300 0 0
WEYERHAEUSER CO COM 962166104 31,048 108,980 SH   DFND 1 60,840 0 48,140
WILLIAMS PARTNERS LP COM UNIT L P 96950F104 1,930 3,740 SH   DFND 1 3,740 0 0
WINDSTREAM CORP COM 97381W104 423 5,490 SH   DFND 1 5,490 0 0
WYNN RESORTS LTD COM 983134107 6,488 5,070 SH   DFND 1 5,070 0 0
YUM BRANDS INC COM 988498101 1,019 1,470 SH   DFND 1 1,470 0 0
ZILLOW INC CL A 98954A107 794 1,410 SH   DFND 1 1,410 0 0