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 219 6,500 SH   OTR 1,2,3 0 6,500 0
ALEXANDRIA REAL ESTATE EQ IN PFD CONV SER D 015271505 278 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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1,483 9,000 SH   DFND 1,2,3 9,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 493 3,000 SH   OTR 1,2,3 0 3,000 0
ALPHABET INC CAP STK CL C 02079K107 1,196 1,002 SH   OTR 1,2,3 0 1,002 0
AMAZON COM INC COM 023135106 611 305 SH   OTR 1,2,3 0 305 0
AMERICA FIRST MULTIFAMILY IN BEN UNIT CTF 02364V107 257 45,000 SH   DFND 1,2,3 45,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 177 4,300 SH   DFND 1,2,3 4,300 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 71 1,700 SH   OTR 1,2,3 0 1,700 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 456 5,200 SH   DFND 1,2,3 5,200 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 247 2,800 SH   OTR 1,2,3 0 2,800 0
APARTMENT INVT & MGMT CO CL A 03748R101 2,187 49,560 SH   DFND 1,2,3 49,560 0 0
APPLE INC COM 037833100 462 2,050 SH   OTR 1,2,3 0 2,050 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 259 40,523 SH   DFND 1,2,3 40,523 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 23 3,400 SH   OTR 1,2,3 0 3,400 0
BP PLC SPONSORED ADR 055622104 1,300 28,200 SH   DFND 1,2,3 28,200 0 0
BP PLC SPONSORED ADR 055622104 315 6,800 SH   OTR 1,2,3 0 6,800 0
BANK AMER CORP COM 060505104 177 6,000 SH   DFND 1,2,3 6,000 0 0
BANK AMER CORP COM 060505104 907 30,753 SH   OTR 1,2,3 0 30,753 0
BANK AMER CORP 7.25%CNV PFD L 060505682 777 600 SH   DFND 1,2,3 600 0 0
BANK AMER CORP 7.25%CNV PFD L 060505682 1,342 1,037 SH   OTR 1,2,3 0 1,037 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 404 31,622 SH   DFND 1,2,3 31,622 0 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 64 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 25 1,887 SH   DFND 1,2,3 1,887 0 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 220 16,500 SH   OTR 1,2,3 0 16,500 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 168 4,400 SH   DFND 1,2,3 4,400 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 233 6,100 SH   OTR 1,2,3 0 6,100 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 190 14,500 SH   DFND 1,2,3 14,500 0 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 76 5,800 SH   OTR 1,2,3 0 5,800 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 499 43,217 SH   DFND 1,2,3 43,217 0 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 148 12,815 SH   OTR 1,2,3 0 12,815 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 140 11,597 SH   DFND 1,2,3 11,597 0 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 60 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 383 31,665 SH   DFND 1,2,3 31,665 0 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 18 1,500 SH   OTR 1,2,3 0 1,500 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 93 7,900 SH   DFND 1,2,3 7,900 0 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 59 5,000 SH   OTR 1,2,3 0 5,000 0
BOEING CO COM 097023105 202 542 SH   OTR 1,2,3 0 542 0
CVS HEALTH CORP COM 126650100 410 5,200 SH   DFND 1,2,3 5,200 0 0
CVS HEALTH CORP COM 126650100 378 4,800 SH   OTR 1,2,3 0 4,800 0
CITIGROUP INC COM NEW 172967424 739 10,300 SH   DFND 1,2,3 10,300 0 0
CITIGROUP INC COM NEW 172967424 143 2,000 SH   OTR 1,2,3 0 2,000 0
COLONY CAP INC NEW CL A COM 19626G108 374 61,459 SH   DFND 1,2,3 61,459 0 0
COLONY CAP INC NEW CL A COM 19626G108 3 549 SH   OTR 1,2,3 0 549 0
CONCHO RES INC COM 20605P101 391 2,560 SH   DFND 1,2,3 2,560 0 0
CONCHO RES INC COM 20605P101 98 640 SH   OTR 1,2,3 0 640 0
CONOCOPHILLIPS COM 20825C104 441 5,700 SH   DFND 1,2,3 5,700 0 0
CONOCOPHILLIPS COM 20825C104 294 3,800 SH   OTR 1,2,3 0 3,800 0
CYRUSONE INC COM 23283R100 716 11,300 SH   DFND 1,2,3 11,300 0 0
CYRUSONE INC COM 23283R100 760 12,000 SH   OTR 1,2,3 0 12,000 0
DDR CORP COM 23317H854 360 26,875 SH   DFND 1,2,3 26,875 0 0
DREYFUS STRATEGIC MUNS INC COM 261932107 352 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 103 13,157 SH   DFND 1,2,3 13,157 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 275 5,200 SH   DFND 1,2,3 5,200 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 410 7,750 SH   OTR 1,2,3 0 7,750 0
EATON VANCE MUN BD FD COM 27827X101 905 78,565 SH   DFND 1,2,3 78,565 0 0
EATON VANCE MUN BD FD COM 27827X101 122 10,600 SH   OTR 1,2,3 0 10,600 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 55 2,500 SH   DFND 1,2,3 2,500 0 0
ENERGY TRANSFER PARTNERS LP UNIT LTD PRT INT 29278N103 667 30,029 SH   OTR 1,2,3 0 30,029 0
ENTERPRISE PRODS PARTNERS L COM 293792107 229 8,000 SH   DFND 1,2,3 8,000 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 147 5,100 SH   OTR 1,2,3 0 5,100 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,465 22,100 SH   DFND 1,2,3 22,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 266 4,014 SH   OTR 1,2,3 0 4,014 0
EXXON MOBIL CORP COM 30231G102 366 4,300 SH   DFND 1,2,3 4,300 0 0
EXXON MOBIL CORP COM 30231G102 442 5,200 SH   OTR 1,2,3 0 5,200 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 298 9,500 SH   DFND 1,2,3 9,500 0 0
GENERAL ELECTRIC CO COM 369604103 666 59,000 SH   DFND 1,2,3 59,000 0 0
GENERAL ELECTRIC CO COM 369604103 127 11,213 SH   OTR 1,2,3 0 11,213 0
GILEAD SCIENCES INC COM 375558103 919 11,900 SH   DFND 1,2,3 11,900 0 0
GILEAD SCIENCES INC COM 375558103 468 6,050 SH   OTR 1,2,3 0 6,050 0
GLOBAL MED REIT INC COM NEW 37954A204 507 53,767 SH   DFND 1,2,3 53,767 0 0
GLOBAL MED REIT INC COM NEW 37954A204 324 34,365 SH   OTR 1,2,3 0 34,365 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,345 6,000 SH   DFND 1,2,3 6,000 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 295 13,006 SH   DFND 1,2,3 13,006 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 17 750 SH   OTR 1,2,3 0 750 0
HUNT COS FIN TR INC COM 44558T100 188 50,000 SH   DFND 1,2,3 50,000 0 0
INTEL CORP COM 458140100 189 4,000 SH   DFND 1,2,3 4,000 0 0
INTEL CORP COM 458140100 189 4,000 SH   OTR 1,2,3 0 4,000 0
INVESCO VALUE MUN INCOME TR COM 46132P108 1,708 123,403 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 359 10,400 SH   DFND 1,2,3 10,400 0 0
IRON MTN INC NEW COM 46284V101 279 8,100 SH   OTR 1,2,3 0 8,100 0
JPMORGAN CHASE & CO COM 46625H100 8,440 74,800 SH   DFND 1,2,3 74,800 0 0
JPMORGAN CHASE & CO COM 46625H100 197 1,750 SH   OTR 1,2,3 0 1,750 0
KIMCO RLTY CORP COM 49446R109 117 7,000 SH   DFND 1,2,3 7,000 0 0
KIMCO RLTY CORP COM 49446R109 84 5,000 SH   OTR 1,2,3 0 5,000 0
KITE RLTY GROUP TR COM NEW 49803T300 756 45,379 SH   OTR 1,2,3 0 45,379 0
KROGER CO COM 501044101 436 15,000 SH   DFND 1,2,3 15,000 0 0
KROGER CO COM 501044101 426 14,600 SH   OTR 1,2,3 0 14,600 0
LTC PPTYS INC COM 502175102 269 6,108 SH   DFND 1,2,3 6,108 0 0
LEXINGTON REALTY TRUST COM 529043101 74 9,000 SH   DFND 1,2,3 9,000 0 0
LEXINGTON REALTY TRUST COM 529043101 13 1,650 SH   OTR 1,2,3 0 1,650 0
MPLX LP COM UNIT REP LTD 55336V100 881 25,400 SH   DFND 1,2,3 25,400 0 0
MPLX LP COM UNIT REP LTD 55336V100 404 11,700 SH   OTR 1,2,3 0 11,700 0
MARATHON PETE CORP COM 56585A102 1,192 14,900 SH   DFND 1,2,3 14,900 0 0
MARATHON PETE CORP COM 56585A102 616 7,700 SH   OTR 1,2,3 0 7,700 0
MEDICAL PPTYS TRUST INC COM 58463J304 1,634 109,600 SH   DFND 1,2,3 109,600 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 883 59,250 SH   OTR 1,2,3 0 59,250 0
MICROSOFT CORP COM 594918104 457 4,000 SH   OTR 1,2,3 0 4,000 0
MORGAN STANLEY COM NEW 617446448 1,025 22,000 SH   DFND 1,2,3 22,000 0 0
NETFLIX INC COM 64110L106 786 2,100 SH   OTR 1,2,3 0 2,100 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 1,813 143,142 SH   DFND 1,2,3 143,142 0 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 91 7,190 SH   OTR 1,2,3 0 7,190 0
NVIDIA CORP COM 67066G104 309 1,100 SH   OTR 1,2,3 0 1,100 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 849 66,398 SH   DFND 1,2,3 66,398 0 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 255 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 134 10,700 SH   OTR 1,2,3 0 10,700 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 489 33,939 SH   DFND 1,2,3 33,939 0 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 420 29,169 SH   OTR 1,2,3 0 29,169 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 3,578 245,698 SH   DFND 1,2,3 245,698 0 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 391 26,885 SH   OTR 1,2,3 0 26,885 0
NUTRIEN LTD COM 67077M108 1,050 18,200 SH   DFND 1,2,3 18,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 466 14,200 SH   DFND 1,2,3 14,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 227 6,900 SH   OTR 1,2,3 0 6,900 0
ONE LIBERTY PPTYS INC COM 682406103 1,371 49,375 SH   DFND 1,2,3 49,375 0 0
ONE LIBERTY PPTYS INC COM 682406103 78 2,799 SH   OTR 1,2,3 0 2,799 0
PALO ALTO NETWORKS INC COM 697435105 497 2,200 SH   DFND 1,2,3 2,200 0 0
PALO ALTO NETWORKS INC COM 697435105 518 2,300 SH   OTR 1,2,3 0 2,300 0
PFIZER INC COM 717081103 44 1,000 SH   DFND 1,2,3 1,000 0 0
PFIZER INC COM 717081103 164 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 151 3,000 SH   OTR 1,2,3 0 3,000 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 108 4,300 SH   DFND 1,2,3 4,300 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 154 6,100 SH   OTR 1,2,3 0 6,100 0
PROLOGIS INC COM 74340W103 832 12,276 SH   DFND 1,2,3 12,276 0 0
PROSHARES TR II ULSHT BLOOMB OIL 74347W668 243 18,000 SH   DFND 1,2,3 18,000 0 0
PROSHARES TR II ULSHT BLOOMB OIL 74347W668 27 2,000 SH   OTR 1,2,3 0 2,000 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 624 90,112 SH   DFND 1,2,3 90,112 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 76 11,000 SH   OTR 1,2,3 0 11,000 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 519 45,366 SH   DFND 1,2,3 45,366 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 131 11,500 SH   OTR 1,2,3 0 11,500 0
QTS RLTY TR INC COM CL A 74736A103 653 15,300 SH   DFND 1,2,3 15,300 0 0
QTS RLTY TR INC COM CL A 74736A103 602 14,100 SH   OTR 1,2,3 0 14,100 0
RETAIL PPTYS AMER INC CL A 76131V202 35,581 2,918,843 SH   DFND 1,2,3 2,918,843 0 0
RETAIL PPTYS AMER INC CL A 76131V202 79,729 6,540,530 SH   OTR 1,2,3 0 6,540,530 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,889 42,400 SH   DFND 1,2,3 42,400 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 759 11,100 SH   OTR 1,2,3 0 11,100 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 268 922 SH   DFND 1,2,3 922 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 156 6,723 SH   DFND 1,2,3 6,723 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 65 2,800 SH   OTR 1,2,3 0 2,800 0
SPIRIT RLTY CAP INC NEW COM 84860W102 282 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 348 19,000 SH   DFND 1,2,3 19,000 0 0
STMICROELECTRONICS N V NY REGISTRY 861012102 18 1,000 SH   OTR 1,2,3 0 1,000 0
SYMANTEC CORP COM 871503108 110 5,200 SH   DFND 1,2,3 5,200 0 0
SYMANTEC CORP COM 871503108 102 4,800 SH   OTR 1,2,3 0 4,800 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 414 3,000 SH   DFND 1,2,3 3,000 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 276 2,000 SH   OTR 1,2,3 0 2,000 0
TANGER FACTORY OUTLET CTRS I COM 875465106 130 5,700 SH   DFND 1,2,3 5,700 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 136 5,900 SH   OTR 1,2,3 0 5,900 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 1,162 15,613 SH   DFND 1,2,3 15,613 0 0
VENTAS INC COM 92276F100 109 2,000 SH   DFND 1,2,3 2,000 0 0
VENTAS INC COM 92276F100 91 1,700 SH   OTR 1,2,3 0 1,700 0
VEREIT INC COM 92339V100 10,491 1,444,968 SH   DFND 1,2,3 1,444,968 0 0
VEREIT INC COM 92339V100 1,437 197,726 SH   OTR 1,2,3 0 197,726 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,148 21,500 SH   DFND 1,2,3 21,500 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 704 13,200 SH   OTR 1,2,3 0 13,200 0
VMWARE INC CL A COM 928563402 234 1,500 SH   OTR 1,2,3 0 1,500 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 264 3,625 SH   OTR 1,2,3 0 3,625 0
WELLS FARGO CO NEW COM 949746101 1,340 25,500 SH   DFND 1,2,3 25,500 0 0
WELLS FARGO CO NEW COM 949746101 175 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 1,568 66,160 SH   OTR 1,2,3 0 66,160 0