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
AT&T INC COM 00206R102 255 6,500 SH   OTR 1,2,3 0 6,500 0
ALEXANDRIA REAL ESTATE EQ IN PFD CONV SER D 015271505 286 8,000 SH   DFND 1,2,3 8,000 0 0
ALEXANDRIA REAL ESTATE EQ IN PFD CONV SER D 015271505 23 650 SH   OTR 1,2,3 0 650 0
ALPHABET INC CAP STK CL C 02079K107 961 1,002 SH   OTR 1,2,3 0 1,002 0
AMAZON COM INC COM 023135106 288 300 SH   OTR 1,2,3 0 300 0
AMERICA FIRST MULTIFAMILY IN BEN UNIT CTF 02364V107 272 45,000 SH   DFND 1,2,3 45,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 190 4,300 SH   DFND 1,2,3 4,300 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 106 2,400 SH   OTR 1,2,3 0 2,400 0
APARTMENT INVT & MGMT CO CL A 03748R101 2,174 49,560 SH   DFND 1,2,3 49,560 0 0
APPLE INC COM 037833100 316 2,050 SH   OTR 1,2,3 0 2,050 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 270 40,523 SH   DFND 1,2,3 40,523 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 27 4,000 SH   OTR 1,2,3 0 4,000 0
BP PLC SPONSORED ADR 055622104 2,129 55,400 SH   DFND 1,2,3 55,400 0 0
BP PLC SPONSORED ADR 055622104 542 14,100 SH   OTR 1,2,3 0 14,100 0
BANK AMER CORP COM 060505104 152 6,000 SH   DFND 1,2,3 6,000 0 0
BANK AMER CORP COM 060505104 779 30,753 SH   OTR 1,2,3 0 30,753 0
BANK AMER CORP 7.25%CNV PFD L 060505682 781 600 SH   DFND 1,2,3 600 0 0
BANK AMER CORP 7.25%CNV PFD L 060505682 1,350 1,037 SH   OTR 1,2,3 0 1,037 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 465 31,622 SH   DFND 1,2,3 31,622 0 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 73 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 30 1,887 SH   DFND 1,2,3 1,887 0 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 259 16,500 SH   OTR 1,2,3 0 16,500 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 205 14,500 SH   DFND 1,2,3 14,500 0 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 82 5,800 SH   OTR 1,2,3 0 5,800 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 588 43,217 SH   DFND 1,2,3 43,217 0 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 106 7,815 SH   OTR 1,2,3 0 7,815 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 454 31,665 SH   DFND 1,2,3 31,665 0 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 21 1,500 SH   OTR 1,2,3 0 1,500 0
CITIGROUP INC COM NEW 172967424 749 10,300 SH   DFND 1,2,3 10,300 0 0
CITIGROUP INC COM NEW 172967424 145 2,000 SH   OTR 1,2,3 0 2,000 0
COLONY NORTHSTAR INC CL A COM 19625W104 772 61,459 SH   DFND 1,2,3 61,459 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 80 6,376 SH   OTR 1,2,3 0 6,376 0
CONOCOPHILLIPS COM 20825C104 285 5,700 SH   DFND 1,2,3 5,700 0 0
CONOCOPHILLIPS COM 20825C104 215 4,300 SH   OTR 1,2,3 0 4,300 0
CROWN CASTLE INTL CORP NEW COM 22822V101 50 500 SH   DFND 1,2,3 500 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 237 2,370 SH   OTR 1,2,3 0 2,370 0
CYRUSONE INC COM 23283R100 407 6,900 SH   DFND 1,2,3 6,900 0 0
CYRUSONE INC COM 23283R100 413 7,000 SH   OTR 1,2,3 0 7,000 0
DDR CORP COM 23317H102 492 53,750 SH   DFND 1,2,3 53,750 0 0
DREYFUS STRATEGIC MUNS INC COM 261932107 412 46,922 SH   DFND 1,2,3 46,922 0 0
DREYFUS STRATEGIC MUNS INC COM 261932107 10 1,100 SH   OTR 1,2,3 0 1,100 0
DREYFUS MUN INCOME INC COM 26201R102 120 13,157 SH   DFND 1,2,3 13,157 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 390 5,200 SH   DFND 1,2,3 5,200 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 532 7,100 SH   OTR 1,2,3 0 7,100 0
EATON VANCE MUN BD FD COM 27827X101 996 78,565 SH   DFND 1,2,3 78,565 0 0
EATON VANCE MUN BD FD COM 27827X101 134 10,600 SH   OTR 1,2,3 0 10,600 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 46 2,500 SH   DFND 1,2,3 2,500 0 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 686 37,531 SH   OTR 1,2,3 0 37,531 0
ENTERPRISE PRODS PARTNERS L COM 293792107 209 8,000 SH   DFND 1,2,3 8,000 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 133 5,100 SH   OTR 1,2,3 0 5,100 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,457 22,100 SH   DFND 1,2,3 22,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 307 4,664 SH   OTR 1,2,3 0 4,664 0
EXXON MOBIL CORP COM 30231G102 353 4,300 SH   DFND 1,2,3 4,300 0 0
EXXON MOBIL CORP COM 30231G102 434 5,300 SH   OTR 1,2,3 0 5,300 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 286 9,500 SH   DFND 1,2,3 9,500 0 0
FIRST POTOMAC RLTY TR COM 33610F109 715 64,173 SH   DFND 1,2,3 64,173 0 0
FIRST POTOMAC RLTY TR COM 33610F109 297 26,700 SH   OTR 1,2,3 0 26,700 0
GENERAL ELECTRIC CO COM 369604103 1,427 59,000 SH   DFND 1,2,3 59,000 0 0
GENERAL ELECTRIC CO COM 369604103 291 12,023 SH   OTR 1,2,3 0 12,023 0
GILEAD SCIENCES INC COM 375558103 964 11,900 SH   DFND 1,2,3 11,900 0 0
GILEAD SCIENCES INC COM 375558103 514 6,350 SH   OTR 1,2,3 0 6,350 0
GLOBAL MED REIT INC COM NEW 37954A204 406 45,167 SH   DFND 1,2,3 45,167 0 0
GLOBAL MED REIT INC COM NEW 37954A204 206 22,900 SH   OTR 1,2,3 0 22,900 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,423 6,000 SH   DFND 1,2,3 6,000 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 243 13,006 SH   DFND 1,2,3 13,006 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 14 750 SH   OTR 1,2,3 0 750 0
HUGOTON RTY TR TEX UNIT BEN INT 444717102 20 11,010 SH   DFND 1,2,3 11,010 0 0
INTEL CORP COM 458140100 152 4,000 SH   DFND 1,2,3 4,000 0 0
INTEL CORP COM 458140100 152 4,000 SH   OTR 1,2,3 0 4,000 0
INVESCO VALUE MUN INCOME TR COM 46132P108 1,846 123,403 SH   DFND 1,2,3 123,403 0 0
INVESCO VALUE MUN INCOME TR COM 46132P108 4 284 SH   OTR 1,2,3 0 284 0
IRON MTN INC NEW COM 46284V101 405 10,400 SH   DFND 1,2,3 10,400 0 0
IRON MTN INC NEW COM 46284V101 323 8,300 SH   OTR 1,2,3 0 8,300 0
JPMORGAN CHASE & CO COM 46625H100 7,144 74,800 SH   DFND 1,2,3 74,800 0 0
JPMORGAN CHASE & CO COM 46625H100 167 1,750 SH   OTR 1,2,3 0 1,750 0
KITE RLTY GROUP TR COM NEW 49803T300 796 39,332 SH   OTR 1,2,3 0 39,332 0
KROGER CO COM 501044101 301 15,000 SH   DFND 1,2,3 15,000 0 0
KROGER CO COM 501044101 301 15,000 SH   OTR 1,2,3 0 15,000 0
LTC PPTYS INC COM 502175102 287 6,108 SH   DFND 1,2,3 6,108 0 0
LEXINGTON REALTY TRUST COM 529043101 92 9,000 SH   DFND 1,2,3 9,000 0 0
LEXINGTON REALTY TRUST COM 529043101 17 1,650 SH   OTR 1,2,3 0 1,650 0
MPLX LP COM UNIT REP LTD 55336V100 889 25,400 SH   DFND 1,2,3 25,400 0 0
MPLX LP COM UNIT REP LTD 55336V100 441 12,600 SH   OTR 1,2,3 0 12,600 0
MARATHON PETE CORP COM 56585A102 1,783 31,800 SH   DFND 1,2,3 31,800 0 0
MARATHON PETE CORP COM 56585A102 908 16,200 SH   OTR 1,2,3 0 16,200 0
MEDICAL PPTYS TRUST INC COM 58463J304 2,139 162,900 SH   DFND 1,2,3 162,900 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 1,170 89,100 SH   OTR 1,2,3 0 89,100 0
MICROSOFT CORP COM 594918104 298 4,000 SH   OTR 1,2,3 0 4,000 0
MORGAN STANLEY COM NEW 617446448 1,060 22,000 SH   DFND 1,2,3 22,000 0 0
NETFLIX INC COM 64110L106 381 2,100 SH   OTR 1,2,3 0 2,100 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 1,983 143,142 SH   DFND 1,2,3 143,142 0 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 100 7,190 SH   OTR 1,2,3 0 7,190 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 942 66,399 SH   DFND 1,2,3 66,399 0 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 283 19,942 SH   OTR 1,2,3 0 19,942 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 27 2,000 SH   DFND 1,2,3 2,000 0 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 146 10,700 SH   OTR 1,2,3 0 10,700 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 516 33,939 SH   DFND 1,2,3 33,939 0 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 444 29,170 SH   OTR 1,2,3 0 29,170 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 3,781 245,698 SH   DFND 1,2,3 245,698 0 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 414 26,885 SH   OTR 1,2,3 0 26,885 0
OMEGA HEALTHCARE INVS INC COM 681936100 453 14,200 SH   DFND 1,2,3 14,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 274 8,600 SH   OTR 1,2,3 0 8,600 0
ONE LIBERTY PPTYS INC COM 682406103 1,203 49,375 SH   DFND 1,2,3 49,375 0 0
ONE LIBERTY PPTYS INC COM 682406103 68 2,799 SH   OTR 1,2,3 0 2,799 0
PALO ALTO NETWORKS INC COM 697435105 317 2,200 SH   DFND 1,2,3 2,200 0 0
PALO ALTO NETWORKS INC COM 697435105 331 2,300 SH   OTR 1,2,3 0 2,300 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 315 6,000 SH   DFND 1,2,3 6,000 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 210 4,000 SH   OTR 1,2,3 0 4,000 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 91 4,300 SH   DFND 1,2,3 4,300 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 184 8,700 SH   OTR 1,2,3 0 8,700 0
POTASH CORP SASK INC COM 73755L107 875 45,500 SH   DFND 1,2,3 45,500 0 0
PROLOGIS INC COM 74340W103 779 12,276 SH   DFND 1,2,3 12,276 0 0
PROSHARES TR II ULSHT BLOOMB OIL 74347W668 1,113 33,000 SH   DFND 1,2,3 33,000 0 0
PROSHARES TR II ULSHT BLOOMB OIL 74347W668 405 12,000 SH   OTR 1,2,3 0 12,000 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 681 90,112 SH   DFND 1,2,3 90,112 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 83 11,000 SH   OTR 1,2,3 0 11,000 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 573 45,366 SH   DFND 1,2,3 45,366 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 145 11,500 SH   OTR 1,2,3 0 11,500 0
QTS RLTY TR INC COM CL A 74736A103 278 5,300 SH   DFND 1,2,3 5,300 0 0
QTS RLTY TR INC COM CL A 74736A103 220 4,200 SH   OTR 1,2,3 0 4,200 0
QUALCOMM INC COM 747525103 285 5,500 SH   DFND 1,2,3 5,500 0 0
QUALCOMM INC COM 747525103 233 4,500 SH   OTR 1,2,3 0 4,500 0
RSP PERMIAN INC COM 74978Q105 277 8,000 SH   DFND 1,2,3 8,000 0 0
RSP PERMIAN INC COM 74978Q105 69 2,000 SH   OTR 1,2,3 0 2,000 0
RETAIL PPTYS AMER INC CL A 76131V202 43,176 3,288,343 SH   DFND 1,2,3 3,288,343 0 0
RETAIL PPTYS AMER INC CL A 76131V202 86,574 6,593,583 SH   OTR 1,2,3 0 6,593,583 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,569 42,400 SH   DFND 1,2,3 42,400 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 715 11,800 SH   OTR 1,2,3 0 11,800 0
SANOFI SPONSORED ADR 80105N105 90 1,800 SH   DFND 1,2,3 1,800 0 0
SANOFI SPONSORED ADR 80105N105 159 3,200 SH   OTR 1,2,3 0 3,200 0
SPIRIT RLTY CAP INC NEW COM 84860W102 300 35,000 SH   DFND 1,2,3 35,000 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 261 30,503 SH   OTR 1,2,3 0 30,503 0
STMICROELECTRONICS N V NY REGISTRY 861012102 369 19,000 SH   DFND 1,2,3 19,000 0 0
STMICROELECTRONICS N V NY REGISTRY 861012102 19 1,000 SH   OTR 1,2,3 0 1,000 0
TANGER FACTORY OUTLET CTRS I COM 875465106 139 5,700 SH   DFND 1,2,3 5,700 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 144 5,900 SH   OTR 1,2,3 0 5,900 0
TESLA INC COM 88160R101 512 1,500 SH   OTR 1,2,3 0 1,500 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 1,179 15,613 SH   DFND 1,2,3 15,613 0 0
VENTAS INC COM 92276F100 130 2,000 SH   DFND 1,2,3 2,000 0 0
VENTAS INC COM 92276F100 111 1,700 SH   OTR 1,2,3 0 1,700 0
VEREIT INC COM 92339V100 11,979 1,444,968 SH   DFND 1,2,3 1,444,968 0 0
VEREIT INC COM 92339V100 1,995 240,635 SH   OTR 1,2,3 0 240,635 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,064 21,500 SH   DFND 1,2,3 21,500 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 668 13,500 SH   OTR 1,2,3 0 13,500 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 280 3,625 SH   OTR 1,2,3 0 3,625 0
WELLS FARGO CO NEW COM 949746101 1,406 25,500 SH   DFND 1,2,3 25,500 0 0
WELLS FARGO CO NEW COM 949746101 182 3,300 SH   OTR 1,2,3 0 3,300 0
XENIA HOTELS & RESORTS INC COM 984017103 21 1,000 SH   DFND 1,2,3 1,000 0 0
XENIA HOTELS & RESORTS INC COM 984017103 1,235 58,678 SH   OTR 1,2,3 0 58,678 0