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
ALEXANDRIA REAL ESTATE EQ IN PFD CONV SER D 015271505 22 650 SH   OTR 1,2,3 0 650 0
ALEXANDRIA REAL ESTATE EQ IN PFD CONV SER D 015271505 269 8,000 SH   DFND 1,2,3 8,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 864 6,300 SH   OTR 1,2,3 0 6,300 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 6,991 51,000 SH   DFND 1,2,3 51,000 0 0
ALPHABET INC CAP STK CL C 02079K107 1,038 1,002 SH   OTR 1,2,3 0 1,002 0
AMAZON COM INC COM 023135106 459 305 SH   OTR 1,2,3 0 305 0
AMERICA FIRST MULTIFAMILY IN BEN UNIT CTF 02364V107 253 45,000 SH   DFND 1,2,3 45,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 71 1,700 SH   OTR 1,2,3 0 1,700 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 178 4,300 SH   DFND 1,2,3 4,300 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 160 2,400 SH   OTR 1,2,3 0 2,400 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 343 5,200 SH   DFND 1,2,3 5,200 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 2,175 49,560 SH   DFND 1,2,3 49,560 0 0
APPLE INC COM 037833100 324 2,050 SH   OTR 1,2,3 0 2,050 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 12 3,400 SH   OTR 1,2,3 0 3,400 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 162 40,523 SH   DFND 1,2,3 40,523 0 0
BP PLC SPONSORED ADR 055622104 259 6,800 SH   OTR 1,2,3 0 6,800 0
BP PLC SPONSORED ADR 055622104 1,069 28,200 SH   DFND 1,2,3 28,200 0 0
BANK AMER CORP COM 060505104 758 30,753 SH   OTR 1,2,3 0 30,753 0
BANK AMER CORP COM 060505104 148 6,000 SH   DFND 1,2,3 6,000 0 0
BANK AMER CORP 7.25%CNV PFD L 060505682 1,299 1,037 SH   OTR 1,2,3 0 1,037 0
BANK AMER CORP 7.25%CNV PFD L 060505682 752 600 SH   DFND 1,2,3 600 0 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 62 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 394 31,622 SH   DFND 1,2,3 31,622 0 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 214 16,500 SH   OTR 1,2,3 0 16,500 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 24 1,887 SH   DFND 1,2,3 1,887 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 183 6,100 SH   OTR 1,2,3 0 6,100 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 131 4,400 SH   DFND 1,2,3 4,400 0 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 73 5,800 SH   OTR 1,2,3 0 5,800 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 183 14,500 SH   DFND 1,2,3 14,500 0 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 145 12,815 SH   OTR 1,2,3 0 12,815 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 489 43,217 SH   DFND 1,2,3 43,217 0 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254C107 57 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254C107 133 11,597 SH   DFND 1,2,3 11,597 0 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 18 1,500 SH   OTR 1,2,3 0 1,500 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 382 31,665 SH   DFND 1,2,3 31,665 0 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 57 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 90 7,900 SH   DFND 1,2,3 7,900 0 0
CITIGROUP INC COM NEW 172967424 104 2,000 SH   OTR 1,2,3 0 2,000 0
CITIGROUP INC COM NEW 172967424 536 10,300 SH   DFND 1,2,3 10,300 0 0
COLONY CAP INC NEW CL A COM 19626G108 3 549 SH   OTR 1,2,3 0 549 0
COLONY CAP INC NEW CL A COM 19626G108 274 58,459 SH   DFND 1,2,3 58,459 0 0
CONCHO RES INC COM 20605P101 66 640 SH   OTR 1,2,3 0 640 0
CONCHO RES INC COM 20605P101 263 2,560 SH   DFND 1,2,3 2,560 0 0
CONOCOPHILLIPS COM 20825C104 237 3,800 SH   OTR 1,2,3 0 3,800 0
CONOCOPHILLIPS COM 20825C104 355 5,700 SH   DFND 1,2,3 5,700 0 0
CYRUSONE INC COM 23283R100 904 17,100 SH   OTR 1,2,3 0 17,100 0
CYRUSONE INC COM 23283R100 856 16,200 SH   DFND 1,2,3 16,200 0 0
DREYFUS STRATEGIC MUNS INC COM 261932107 8 1,100 SH   OTR 1,2,3 0 1,100 0
DREYFUS STRATEGIC MUNS INC COM 261932107 337 46,922 SH   DFND 1,2,3 46,922 0 0
DREYFUS MUN INCOME INC COM 26201R102 100 13,157 SH   DFND 1,2,3 13,157 0 0
EQM MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 307 7,100 SH   OTR 1,2,3 0 7,100 0
EQM MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 182 4,200 SH   DFND 1,2,3 4,200 0 0
EATON VANCE MUN BD FD COM 27827X101 120 10,600 SH   OTR 1,2,3 0 10,600 0
EATON VANCE MUN BD FD COM 27827X101 887 78,565 SH   DFND 1,2,3 78,565 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 125 5,100 SH   OTR 1,2,3 0 5,100 0
ENTERPRISE PRODS PARTNERS L COM 293792107 196 8,000 SH   DFND 1,2,3 8,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 266 4,014 SH   OTR 1,2,3 0 4,014 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,459 22,100 SH   DFND 1,2,3 22,100 0 0
EXXON MOBIL CORP COM 30231G102 353 5,200 SH   OTR 1,2,3 0 5,200 0
EXXON MOBIL CORP COM 30231G102 294 4,300 SH   DFND 1,2,3 4,300 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 274 9,500 SH   DFND 1,2,3 9,500 0 0
GENERAL ELECTRIC CO COM 369604103 93 12,292 SH   OTR 1,2,3 0 12,292 0
GENERAL ELECTRIC CO COM 369604103 447 59,000 SH   DFND 1,2,3 59,000 0 0
GILEAD SCIENCES INC COM 375558103 378 6,050 SH   OTR 1,2,3 0 6,050 0
GILEAD SCIENCES INC COM 375558103 745 11,900 SH   DFND 1,2,3 11,900 0 0
GLOBAL MED REIT INC COM NEW 37954A204 372 41,723 SH   OTR 1,2,3 0 41,723 0
GLOBAL MED REIT INC COM NEW 37954A204 522 58,667 SH   DFND 1,2,3 58,667 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,002 6,000 SH   DFND 1,2,3 6,000 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 13 750 SH   OTR 1,2,3 0 750 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 228 13,006 SH   DFND 1,2,3 13,006 0 0
HUNT COS FIN TR INC COM 44558T100 143 50,000 SH   DFND 1,2,3 50,000 0 0
INTEL CORP COM 458140100 188 4,000 SH   OTR 1,2,3 0 4,000 0
INTEL CORP COM 458140100 188 4,000 SH   DFND 1,2,3 4,000 0 0
INVESCO VALUE MUN INCOME TR COM 46132P108 4 284 SH   OTR 1,2,3 0 284 0
INVESCO VALUE MUN INCOME TR COM 46132P108 1,668 123,403 SH   DFND 1,2,3 123,403 0 0
IRON MTN INC NEW COM 46284V101 260 8,100 SH   OTR 1,2,3 0 8,100 0
IRON MTN INC NEW COM 46284V101 337 10,400 SH   DFND 1,2,3 10,400 0 0
JPMORGAN CHASE & CO COM 46625H100 171 1,750 SH   OTR 1,2,3 0 1,750 0
JPMORGAN CHASE & CO COM 46625H100 2,421 24,800 SH   DFND 1,2,3 24,800 0 0
JD COM INC SPON ADR CL A 47215P106 209 10,000 SH   OTR 1,2,3 0 10,000 0
KIMCO RLTY CORP COM 49446R109 73 5,000 SH   OTR 1,2,3 0 5,000 0
KIMCO RLTY CORP COM 49446R109 103 7,000 SH   DFND 1,2,3 7,000 0 0
KITE RLTY GROUP TR COM NEW 49803T300 639 45,379 SH   OTR 1,2,3 0 45,379 0
KROGER CO COM 501044101 404 14,600 SH   OTR 1,2,3 0 14,600 0
KROGER CO COM 501044101 414 15,000 SH   DFND 1,2,3 15,000 0 0
LTC PPTYS INC COM 502175102 255 6,108 SH   DFND 1,2,3 6,108 0 0
LEXINGTON REALTY TRUST COM 529043101 13 1,650 SH   OTR 1,2,3 0 1,650 0
LEXINGTON REALTY TRUST COM 529043101 74 9,000 SH   DFND 1,2,3 9,000 0 0
MPLX LP COM UNIT REP LTD 55336V100 323 10,700 SH   OTR 1,2,3 0 10,700 0
MPLX LP COM UNIT REP LTD 55336V100 770 25,400 SH   DFND 1,2,3 25,400 0 0
MARATHON PETE CORP COM 56585A102 622 10,500 SH   OTR 1,2,3 0 10,500 0
MARATHON PETE CORP COM 56585A102 1,293 21,900 SH   DFND 1,2,3 21,900 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 952 59,250 SH   OTR 1,2,3 0 59,250 0
MEDICAL PPTYS TRUST INC COM 58463J304 1,762 109,600 SH   DFND 1,2,3 109,600 0 0
MICROSOFT CORP COM 594918104 406 4,000 SH   OTR 1,2,3 0 4,000 0
MORGAN STANLEY COM NEW 617446448 872 22,000 SH   DFND 1,2,3 22,000 0 0
NETFLIX INC COM 64110L106 562 2,100 SH   OTR 1,2,3 0 2,100 0
NOODLES & CO COM CL A 65540B105 84 12,000 SH   OTR 1,2,3 0 12,000 0
NOODLES & CO COM CL A 65540B105 1,398 200,000 SH   DFND 1,2,3 200,000 0 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 88 7,190 SH   OTR 1,2,3 0 7,190 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 1,762 143,142 SH   DFND 1,2,3 143,142 0 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 250 19,942 SH   OTR 1,2,3 0 19,942 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 833 66,398 SH   DFND 1,2,3 66,398 0 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 124 10,700 SH   OTR 1,2,3 0 10,700 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 23 2,000 SH   DFND 1,2,3 2,000 0 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 391 29,169 SH   OTR 1,2,3 0 29,169 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 455 33,939 SH   DFND 1,2,3 33,939 0 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 376 26,885 SH   OTR 1,2,3 0 26,885 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 3,435 245,698 SH   DFND 1,2,3 245,698 0 0
NUTRIEN LTD COM 67077M108 799 17,000 SH   DFND 1,2,3 17,000 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 244 6,900 SH   OTR 1,2,3 0 6,900 0
OMEGA HEALTHCARE INVS INC COM 681936100 499 14,200 SH   DFND 1,2,3 14,200 0 0
ONE LIBERTY PPTYS INC COM 682406103 68 2,799 SH   OTR 1,2,3 0 2,799 0
ONE LIBERTY PPTYS INC COM 682406103 1,196 49,375 SH   DFND 1,2,3 49,375 0 0
PALO ALTO NETWORKS INC COM 697435105 433 2,300 SH   OTR 1,2,3 0 2,300 0
PALO ALTO NETWORKS INC COM 697435105 415 2,200 SH   DFND 1,2,3 2,200 0 0
PFIZER INC COM 717081103 163 3,733 SH   OTR 1,2,3 0 3,733 0
PFIZER INC COM 717081103 44 1,000 SH   DFND 1,2,3 1,000 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 125 3,000 SH   OTR 1,2,3 0 3,000 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 252 6,000 SH   DFND 1,2,3 6,000 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 122 6,100 SH   OTR 1,2,3 0 6,100 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 86 4,300 SH   DFND 1,2,3 4,300 0 0
PROLOGIS INC COM 74340W103 721 12,276 SH   DFND 1,2,3 12,276 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 74 11,000 SH   OTR 1,2,3 0 11,000 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 606 90,112 SH   DFND 1,2,3 90,112 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 129 11,500 SH   OTR 1,2,3 0 11,500 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 509 45,366 SH   DFND 1,2,3 45,366 0 0
QTS RLTY TR INC COM CL A 74736A103 750 20,300 SH   OTR 1,2,3 0 20,300 0
QTS RLTY TR INC COM CL A 74736A103 870 23,500 SH   DFND 1,2,3 23,500 0 0
RETAIL PPTYS AMER INC CL A 76131V202 70,965 6,540,530 SH   OTR 1,2,3 0 6,540,530 0
RETAIL PPTYS AMER INC CL A 76131V202 31,669 2,918,843 SH   DFND 1,2,3 2,918,843 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 649 11,100 SH   OTR 1,2,3 0 11,100 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,471 42,400 SH   DFND 1,2,3 42,400 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 230 922 SH   DFND 1,2,3 922 0 0
SITE CENTERS CORP COM 82981J109 298 26,875 SH   DFND 1,2,3 26,875 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 44 5,700 SH   OTR 1,2,3 0 5,700 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 54 7,000 SH   DFND 1,2,3 7,000 0 0
STARBUCKS CORP COM 855244109 225 3,500 SH   OTR 1,2,3 0 3,500 0
STMICROELECTRONICS N V NY REGISTRY 861012102 14 1,000 SH   OTR 1,2,3 0 1,000 0
STMICROELECTRONICS N V NY REGISTRY 861012102 264 19,000 SH   DFND 1,2,3 19,000 0 0
SYMANTEC CORP COM 871503108 92 4,800 SH   OTR 1,2,3 0 4,800 0
SYMANTEC CORP COM 871503108 98 5,200 SH   DFND 1,2,3 5,200 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 206 2,000 SH   OTR 1,2,3 0 2,000 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 309 3,000 SH   DFND 1,2,3 3,000 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 119 5,900 SH   OTR 1,2,3 0 5,900 0
TANGER FACTORY OUTLET CTRS I COM 875465106 115 5,700 SH   DFND 1,2,3 5,700 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 958 15,613 SH   DFND 1,2,3 15,613 0 0
VENTAS INC COM 92276F100 100 1,700 SH   OTR 1,2,3 0 1,700 0
VENTAS INC COM 92276F100 117 2,000 SH   DFND 1,2,3 2,000 0 0
VEREIT INC COM 92339V100 1,366 191,146 SH   OTR 1,2,3 0 191,146 0
VEREIT INC COM 92339V100 10,332 1,444,968 SH   DFND 1,2,3 1,444,968 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 741 13,200 SH   OTR 1,2,3 0 13,200 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,208 21,500 SH   DFND 1,2,3 21,500 0 0
VMWARE INC CL A COM 928563402 206 1,500 SH   OTR 1,2,3 0 1,500 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 248 3,625 SH   OTR 1,2,3 0 3,625 0
WELLS FARGO CO NEW COM 949746101 151 3,300 SH   OTR 1,2,3 0 3,300 0
WELLS FARGO CO NEW COM 949746101 1,175 25,500 SH   DFND 1,2,3 25,500 0 0
XENIA HOTELS & RESORTS INC COM 984017103 1,138 66,160 SH   OTR 1,2,3 0 66,160 0
XENIA HOTELS & RESORTS INC COM 984017103 17 1,000 SH   DFND 1,2,3 1,000 0 0