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 209 6,500 SH   OTR 1,2,3 0 6,500 0
ALEXANDRIA REAL ESTATE EQ IN PFD CONV SER D 015271505 280 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 1,118 1,002 SH   OTR 1,2,3 0 1,002 0
AMAZON COM INC COM 023135106 518 305 SH   OTR 1,2,3 0 305 0
AMERICA FIRST MULTIFAMILY IN BEN UNIT CTF 02364V107 286 45,000 SH   DFND 1,2,3 45,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 184 4,300 SH   DFND 1,2,3 4,300 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 73 1,700 SH   OTR 1,2,3 0 1,700 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 524 5,200 SH   DFND 1,2,3 5,200 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 282 2,800 SH   OTR 1,2,3 0 2,800 0
APARTMENT INVT & MGMT CO CL A 03748R101 2,096 49,560 SH   DFND 1,2,3 49,560 0 0
APPLE INC COM 037833100 379 2,050 SH   OTR 1,2,3 0 2,050 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 328 40,523 SH   DFND 1,2,3 40,523 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 28 3,400 SH   OTR 1,2,3 0 3,400 0
BP PLC SPONSORED ADR 055622104 1,288 28,200 SH   DFND 1,2,3 28,200 0 0
BP PLC SPONSORED ADR 055622104 310 6,800 SH   OTR 1,2,3 0 6,800 0
BANK AMER CORP COM 060505104 169 6,000 SH   DFND 1,2,3 6,000 0 0
BANK AMER CORP COM 060505104 867 30,753 SH   OTR 1,2,3 0 30,753 0
BANK AMER CORP 7.25%CNV PFD L 060505682 750 600 SH   DFND 1,2,3 600 0 0
BANK AMER CORP 7.25%CNV PFD L 060505682 1,297 1,037 SH   OTR 1,2,3 0 1,037 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 411 31,622 SH   DFND 1,2,3 31,622 0 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 65 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 26 1,887 SH   DFND 1,2,3 1,887 0 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 229 16,500 SH   OTR 1,2,3 0 16,500 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 142 4,400 SH   DFND 1,2,3 4,400 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 196 6,100 SH   OTR 1,2,3 0 6,100 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 192 14,500 SH   DFND 1,2,3 14,500 0 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 77 5,800 SH   OTR 1,2,3 0 5,800 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 535 43,217 SH   DFND 1,2,3 43,217 0 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 159 12,815 SH   OTR 1,2,3 0 12,815 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 142 11,597 SH   DFND 1,2,3 11,597 0 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 61 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 399 31,665 SH   DFND 1,2,3 31,665 0 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 19 1,500 SH   OTR 1,2,3 0 1,500 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 96 7,900 SH   DFND 1,2,3 7,900 0 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 61 5,000 SH   OTR 1,2,3 0 5,000 0
CVS HEALTH CORP COM 126650100 335 5,200 SH   DFND 1,2,3 5,200 0 0
CVS HEALTH CORP COM 126650100 309 4,800 SH   OTR 1,2,3 0 4,800 0
CITIGROUP INC COM NEW 172967424 689 10,300 SH   DFND 1,2,3 10,300 0 0
CITIGROUP INC COM NEW 172967424 134 2,000 SH   OTR 1,2,3 0 2,000 0
COLONY CAP INC NEW CL A COM 19626G108 400 61,459 SH   DFND 1,2,3 61,459 0 0
COLONY CAP INC NEW CL A COM 19626G108 4 549 SH   OTR 1,2,3 0 549 0
CONOCOPHILLIPS COM 20825C104 397 5,700 SH   DFND 1,2,3 5,700 0 0
CONOCOPHILLIPS COM 20825C104 265 3,800 SH   OTR 1,2,3 0 3,800 0
CYRUSONE INC COM 23283R100 659 11,300 SH   DFND 1,2,3 11,300 0 0
CYRUSONE INC COM 23283R100 700 12,000 SH   OTR 1,2,3 0 12,000 0
DDR CORP COM 23317H854 481 26,875 SH   DFND 1,2,3 26,875 0 0
DREYFUS STRATEGIC MUNS INC COM 261932107 360 46,922 SH   DFND 1,2,3 46,922 0 0
DREYFUS STRATEGIC MUNS INC COM 261932107 8 1,100 SH   OTR 1,2,3 0 1,100 0
DREYFUS MUN INCOME INC COM 26201R102 107 13,157 SH   DFND 1,2,3 13,157 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 268 5,200 SH   DFND 1,2,3 5,200 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 348 6,750 SH   OTR 1,2,3 0 6,750 0
EATON VANCE MUN BD FD COM 27827X101 928 78,565 SH   DFND 1,2,3 78,565 0 0
EATON VANCE MUN BD FD COM 27827X101 125 10,600 SH   OTR 1,2,3 0 10,600 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 48 2,500 SH   DFND 1,2,3 2,500 0 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 572 30,029 SH   OTR 1,2,3 0 30,029 0
ENTERPRISE PRODS PARTNERS L COM 293792107 221 8,000 SH   DFND 1,2,3 8,000 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 141 5,100 SH   OTR 1,2,3 0 5,100 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,408 22,100 SH   DFND 1,2,3 22,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 294 4,614 SH   OTR 1,2,3 0 4,614 0
EXXON MOBIL CORP COM 30231G102 356 4,300 SH   DFND 1,2,3 4,300 0 0
EXXON MOBIL CORP COM 30231G102 430 5,200 SH   OTR 1,2,3 0 5,200 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 317 9,500 SH   DFND 1,2,3 9,500 0 0
GENERAL ELECTRIC CO COM 369604103 803 59,000 SH   DFND 1,2,3 59,000 0 0
GENERAL ELECTRIC CO COM 369604103 152 11,138 SH   OTR 1,2,3 0 11,138 0
GILEAD SCIENCES INC COM 375558103 843 11,900 SH   DFND 1,2,3 11,900 0 0
GILEAD SCIENCES INC COM 375558103 429 6,050 SH   OTR 1,2,3 0 6,050 0
GLOBAL MED REIT INC COM NEW 37954A204 476 53,767 SH   DFND 1,2,3 53,767 0 0
GLOBAL MED REIT INC COM NEW 37954A204 304 34,365 SH   OTR 1,2,3 0 34,365 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,323 6,000 SH   DFND 1,2,3 6,000 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 279 13,006 SH   DFND 1,2,3 13,006 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 16 750 SH   OTR 1,2,3 0 750 0
HUGOTON RTY TR TEX UNIT BEN INT 444717102 7 11,010 SH   DFND 1,2,3 11,010 0 0
HUNT COS FIN TR INC COM 44558T100 171 50,000 SH   DFND 1,2,3 50,000 0 0
INTEL CORP COM 458140100 199 4,000 SH   DFND 1,2,3 4,000 0 0
INTEL CORP COM 458140100 199 4,000 SH   OTR 1,2,3 0 4,000 0
INVESCO VALUE MUN INCOME TR COM 46132P108 1,744 123,403 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 364 10,400 SH   DFND 1,2,3 10,400 0 0
IRON MTN INC NEW COM 46284V101 284 8,100 SH   OTR 1,2,3 0 8,100 0
JPMORGAN CHASE & CO COM 46625H100 7,794 74,800 SH   DFND 1,2,3 74,800 0 0
JPMORGAN CHASE & CO COM 46625H100 182 1,750 SH   OTR 1,2,3 0 1,750 0
KIMCO RLTY CORP COM 49446R109 119 7,000 SH   DFND 1,2,3 7,000 0 0
KIMCO RLTY CORP COM 49446R109 85 5,000 SH   OTR 1,2,3 0 5,000 0
KITE RLTY GROUP TR COM NEW 49803T300 672 39,332 SH   OTR 1,2,3 0 39,332 0
KROGER CO COM 501044101 427 15,000 SH   DFND 1,2,3 15,000 0 0
KROGER CO COM 501044101 415 14,600 SH   OTR 1,2,3 0 14,600 0
LTC PPTYS INC COM 502175102 261 6,108 SH   DFND 1,2,3 6,108 0 0
LEXINGTON REALTY TRUST COM 529043101 79 9,000 SH   DFND 1,2,3 9,000 0 0
LEXINGTON REALTY TRUST COM 529043101 14 1,650 SH   OTR 1,2,3 0 1,650 0
MPLX LP COM UNIT REP LTD 55336V100 867 25,400 SH   DFND 1,2,3 25,400 0 0
MPLX LP COM UNIT REP LTD 55336V100 399 11,700 SH   OTR 1,2,3 0 11,700 0
MARATHON PETE CORP COM 56585A102 2,231 31,800 SH   DFND 1,2,3 31,800 0 0
MARATHON PETE CORP COM 56585A102 1,109 15,800 SH   OTR 1,2,3 0 15,800 0
MEDICAL PPTYS TRUST INC COM 58463J304 2,287 162,900 SH   DFND 1,2,3 162,900 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 1,220 86,900 SH   OTR 1,2,3 0 86,900 0
MICROSOFT CORP COM 594918104 394 4,000 SH   OTR 1,2,3 0 4,000 0
MORGAN STANLEY COM NEW 617446448 1,043 22,000 SH   DFND 1,2,3 22,000 0 0
NETFLIX INC COM 64110L106 822 2,100 SH   OTR 1,2,3 0 2,100 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 1,862 143,142 SH   DFND 1,2,3 143,142 0 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 94 7,190 SH   OTR 1,2,3 0 7,190 0
NVIDIA CORP COM 67066G104 261 1,100 SH   OTR 1,2,3 0 1,100 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 883 66,398 SH   DFND 1,2,3 66,398 0 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 265 19,942 SH   OTR 1,2,3 0 19,942 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 25 2,000 SH   DFND 1,2,3 2,000 0 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 136 10,700 SH   OTR 1,2,3 0 10,700 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 486 33,939 SH   DFND 1,2,3 33,939 0 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 418 29,170 SH   OTR 1,2,3 0 29,170 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 3,585 245,698 SH   DFND 1,2,3 245,698 0 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 392 26,885 SH   OTR 1,2,3 0 26,885 0
NUTRIEN LTD COM 67077M108 990 18,200 SH   DFND 1,2,3 18,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 440 14,200 SH   DFND 1,2,3 14,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 214 6,900 SH   OTR 1,2,3 0 6,900 0
ONE LIBERTY PPTYS INC COM 682406103 1,304 49,375 SH   DFND 1,2,3 49,375 0 0
ONE LIBERTY PPTYS INC COM 682406103 74 2,799 SH   OTR 1,2,3 0 2,799 0
PALO ALTO NETWORKS INC COM 697435105 452 2,200 SH   DFND 1,2,3 2,200 0 0
PALO ALTO NETWORKS INC COM 697435105 473 2,300 SH   OTR 1,2,3 0 2,300 0
PFIZER INC COM 717081103 36 1,000 SH   DFND 1,2,3 1,000 0 0
PFIZER INC COM 717081103 135 3,733 SH   OTR 1,2,3 0 3,733 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 306 6,000 SH   DFND 1,2,3 6,000 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 153 3,000 SH   OTR 1,2,3 0 3,000 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 102 4,300 SH   DFND 1,2,3 4,300 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 144 6,100 SH   OTR 1,2,3 0 6,100 0
PROLOGIS INC COM 74340W103 806 12,276 SH   DFND 1,2,3 12,276 0 0
PROSHARES TR II ULSHT BLOOMB OIL 74347W668 268 18,000 SH   DFND 1,2,3 18,000 0 0
PROSHARES TR II ULSHT BLOOMB OIL 74347W668 30 2,000 SH   OTR 1,2,3 0 2,000 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 638 90,112 SH   DFND 1,2,3 90,112 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 78 11,000 SH   OTR 1,2,3 0 11,000 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 530 45,366 SH   DFND 1,2,3 45,366 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 134 11,500 SH   OTR 1,2,3 0 11,500 0
QTS RLTY TR INC COM CL A 74736A103 604 15,300 SH   DFND 1,2,3 15,300 0 0
QTS RLTY TR INC COM CL A 74736A103 557 14,100 SH   OTR 1,2,3 0 14,100 0
QUALCOMM INC COM 747525103 309 5,500 SH   DFND 1,2,3 5,500 0 0
QUALCOMM INC COM 747525103 247 4,400 SH   OTR 1,2,3 0 4,400 0
RSP PERMIAN INC COM 74978Q105 352 8,000 SH   DFND 1,2,3 8,000 0 0
RSP PERMIAN INC COM 74978Q105 88 2,000 SH   OTR 1,2,3 0 2,000 0
RETAIL PPTYS AMER INC CL A 76131V202 37,431 2,928,843 SH   DFND 1,2,3 2,928,843 0 0
RETAIL PPTYS AMER INC CL A 76131V202 83,690 6,548,480 SH   OTR 1,2,3 0 6,548,480 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,935 42,400 SH   DFND 1,2,3 42,400 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 768 11,100 SH   OTR 1,2,3 0 11,100 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 250 922 SH   DFND 1,2,3 922 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 146 6,723 SH   DFND 1,2,3 6,723 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 61 2,800 SH   OTR 1,2,3 0 2,800 0
SPIRIT RLTY CAP INC NEW COM 84860W102 281 35,000 SH   DFND 1,2,3 35,000 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 229 28,503 SH   OTR 1,2,3 0 28,503 0
STMICROELECTRONICS N V NY REGISTRY 861012102 420 19,000 SH   DFND 1,2,3 19,000 0 0
STMICROELECTRONICS N V NY REGISTRY 861012102 22 1,000 SH   OTR 1,2,3 0 1,000 0
SYMANTEC CORP COM 871503108 107 5,200 SH   DFND 1,2,3 5,200 0 0
SYMANTEC CORP COM 871503108 99 4,800 SH   OTR 1,2,3 0 4,800 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 355 3,000 SH   DFND 1,2,3 3,000 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 237 2,000 SH   OTR 1,2,3 0 2,000 0
TANGER FACTORY OUTLET CTRS I COM 875465106 134 5,700 SH   DFND 1,2,3 5,700 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 139 5,900 SH   OTR 1,2,3 0 5,900 0
TESLA INC COM 88160R101 206 600 SH   OTR 1,2,3 0 600 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 999 15,613 SH   DFND 1,2,3 15,613 0 0
VENTAS INC COM 92276F100 114 2,000 SH   DFND 1,2,3 2,000 0 0
VENTAS INC COM 92276F100 97 1,700 SH   OTR 1,2,3 0 1,700 0
VEREIT INC COM 92339V100 10,751 1,444,968 SH   DFND 1,2,3 1,444,968 0 0
VEREIT INC COM 92339V100 1,471 197,726 SH   OTR 1,2,3 0 197,726 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,082 21,500 SH   DFND 1,2,3 21,500 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 664 13,200 SH   OTR 1,2,3 0 13,200 0
VMWARE INC CL A COM 928563402 220 1,500 SH   OTR 1,2,3 0 1,500 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 218 3,625 SH   OTR 1,2,3 0 3,625 0
WELLS FARGO CO NEW COM 949746101 1,414 25,500 SH   DFND 1,2,3 25,500 0 0
WELLS FARGO CO NEW COM 949746101 183 3,300 SH   OTR 1,2,3 0 3,300 0
XENIA HOTELS & RESORTS INC COM 984017103 24 1,000 SH   DFND 1,2,3 1,000 0 0
XENIA HOTELS & RESORTS INC COM 984017103 1,429 58,678 SH   OTR 1,2,3 0 58,678 0