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
3M CO COM 88579Y101 2,674 13,975 SH   SOLE   13,975 0 0
ABBVIE INC COM 00287Y109 4,943 75,859 SH   SOLE   75,859 0 0
AIR PRODS & CHEMS INC COM 009158106 531 3,923 SH   SOLE   3,923 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 8,788 79,512 SH   SOLE   79,512 0 0
ALLERGAN PLC SHS G0177J108 3,153 13,195 SH   SOLE   13,195 0 0
ALPHABET INC CAP STK CL C 02079K107 15,305 18,450 SH   SOLE   18,450 0 0
ALPHABET INC CAP STK CL A 02079K305 4,921 5,805 SH   SOLE   5,805 0 0
ALTRIA GROUP INC COM 02209S103 512 7,164 SH   SOLE   7,164 0 0
AMAZON COM INC COM 023135106 21,133 23,838 SH   SOLE   23,838 0 0
AMBAC FINL GROUP INC COM NEW 023139884 189 10,000 SH   SOLE   10,000 0 0
AMERICAN ASSETS TR INC COM 024013104 13,711 327,700 SH   SOLE   327,700 0 0
AMERICAN EXPRESS CO COM 025816109 10,444 132,014 SH   SOLE   132,014 0 0
AMERICAN TOWER CORP NEW COM 03027X100 28,181 231,869 SH   SOLE   231,869 0 0
ANADARKO PETE CORP COM 032511107 4,109 66,278 SH   SOLE   66,278 0 0
APPLE INC COM 037833100 24,218 168,580 SH   SOLE   168,580 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 11,154 803,038 SH   SOLE   803,038 0 0
AT&T INC COM 00206R102 1,159 27,899 SH   SOLE   27,899 0 0
AUTOZONE INC COM 053332102 217 300 SH   SOLE   300 0 0
AVALONBAY CMNTYS INC COM 053484101 22,604 123,117 SH   SOLE   123,117 0 0
BANK AMER CORP COM 060505104 8,468 358,953 SH   SOLE   358,953 0 0
BANK AMER CORP *W EXP 01/16/201 060505146 475 42,000 SH   SOLE   42,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,148 6,890 SH   SOLE   6,890 0 0
BOEING CO COM 097023105 232 1,310 SH   SOLE   1,310 0 0
BORGWARNER INC COM 099724106 5,934 142,000 SH   SOLE   142,000 0 0
BOSTON PROPERTIES INC COM 101121101 28,745 217,093 SH   SOLE   217,093 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 4,781 87,925 SH   SOLE   87,925 0 0
BROWN FORMAN CORP CL B 115637209 252 5,460 SH   SOLE   5,460 0 0
BRUKER CORP COM 116794108 243 10,400 SH   SOLE   10,400 0 0
CAMDEN PPTY TR SH BEN INT 133131102 16,659 207,050 SH   SOLE   207,050 0 0
CARLISLE COS INC COM 142339100 10,364 97,398 SH   SOLE   97,398 0 0
CELGENE CORP COM 151020104 10,424 83,771 SH   SOLE   83,771 0 0
CERNER CORP COM 156782104 503 8,550 SH   SOLE   8,550 0 0
CHEVRON CORP NEW COM 166764100 893 8,321 SH   SOLE   8,321 0 0
CISCO SYS INC COM 17275R102 236 6,976 SH   SOLE   6,976 0 0
CITIGROUP INC COM NEW 172967424 212 3,537 SH   SOLE   3,537 0 0
COCA COLA CO COM 191216100 1,773 41,766 SH   SOLE   41,766 0 0
CONAGRA BRANDS INC COM 205887102 232 5,760 SH   SOLE   5,760 0 0
COSTCO WHSL CORP NEW COM 22160K105 12,264 73,137 SH   SOLE   73,137 0 0
COUSINS PPTYS INC COM 222795106 9,157 1,107,258 SH   SOLE   1,107,258 0 0
CRITEO S A SPONS ADS 226718104 209 4,186 SH   SOLE   4,186 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 19,951 211,235 SH   SOLE   211,235 0 0
CUMMINS INC COM 231021106 422 2,790 SH   SOLE   2,790 0 0
CVS HEALTH CORP COM 126650100 7,911 100,771 SH   SOLE   100,771 0 0
CYRUSONE INC COM 23283R100 21,175 411,409 SH   SOLE   411,409 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 11,144 138,448 SH   SOLE   138,448 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 489 4,230 SH   SOLE   4,230 0 0
DISNEY WALT CO COM DISNEY 254687106 12,375 109,141 SH   SOLE   109,141 0 0
DOW CHEM CO COM 260543103 8,999 141,631 SH   SOLE   141,631 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 7,457 92,833 SH   SOLE   92,833 0 0
EASTGROUP PPTY INC COM 277276101 12,085 164,356 SH   SOLE   164,356 0 0
EMERSON ELEC CO COM 291011104 7,360 122,959 SH   SOLE   122,959 0 0
EMPIRE ST RLTY TR INC CL A 292104106 13,302 644,461 SH   SOLE   644,461 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 4,359 157,866 SH   SOLE   157,866 0 0
EOG RES INC COM 26875P101 230 2,354 SH   SOLE   2,354 0 0
EQUINIX INC COM PAR $0.001 29444U700 8,037 20,075 SH   SOLE   20,075 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 9,158 147,193 SH   SOLE   147,193 0 0
ESSEX PPTY TR INC COM 297178105 22,168 95,747 SH   SOLE   95,747 0 0
EXTRA SPACE STORAGE INC COM 30225T102 9,646 129,667 SH   SOLE   129,667 0 0
EXXON MOBIL CORP COM 30231G102 14,019 170,948 SH   SOLE   170,948 0 0
FACEBOOK INC CL A 30303M102 15,825 111,407 SH   SOLE   111,407 0 0
GENERAL ELECTRIC CO COM 369604103 15,071 505,735 SH   SOLE   505,735 0 0
GGP INC COM 36174X101 26,916 1,161,170 SH   SOLE   1,161,170 0 0
GILEAD SCIENCES INC COM 375558103 5,212 76,741 SH   SOLE   76,741 0 0
GLOBALSTAR INC COM 378973408 188 117,500 SH   SOLE   117,500 0 0
HALLIBURTON CO COM 406216101 2,779 56,476 SH   SOLE   56,476 0 0
HANCOCK HLDG CO COM 410120109 221 4,850 SH   SOLE   4,850 0 0
HOST HOTELS & RESORTS INC COM 44107P104 9,136 489,585 SH   SOLE   489,585 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 9,662 1,031,204 SH   SOLE   1,031,204 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,669 9,584 SH   SOLE   9,584 0 0
ISHARES MIN VOL EMRG MKT 464286533 213 3,974 SH   SOLE   3,974 0 0
ISHARES TR MSCI EAFE ETF 464287465 2,020 32,423 SH   SOLE   32,423 0 0
JOHN HANCOCK EXCHANGE TRADED MULTIFACTOR MI 47804J206 386 12,688 SH   SOLE   12,688 0 0
JOHN HANCOCK EXCHANGE TRADED MULTI INTL ETF 47804J859 317 11,884 SH   SOLE   11,884 0 0
JOHNSON & JOHNSON COM 478160104 11,309 90,795 SH   SOLE   90,795 0 0
JPMORGAN CHASE & CO COM 46625H100 1,762 20,057 SH   SOLE   20,057 0 0
KILROY RLTY CORP COM 49427F108 13,685 189,859 SH   SOLE   189,859 0 0
KITE RLTY GROUP TR COM NEW 49803T300 12,872 598,709 SH   SOLE   598,709 0 0
KRAFT HEINZ CO COM 500754106 302 3,324 SH   SOLE   3,324 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 502 3,500 SH   SOLE   3,500 0 0
LAUDER ESTEE COS INC CL A 518439104 8,412 99,211 SH   SOLE   99,211 0 0
LIFE STORAGE INC COM 53223X107 26,648 324,505 SH   SOLE   324,505 0 0
LIVANOVA PLC SHS G5509L101 649 13,245 SH   SOLE   13,245 0 0
MACERICH CO COM 554382101 10,099 156,818 SH   SOLE   156,818 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 3,061 39,795 SH   SOLE   39,795 0 0
MARKEL CORP COM 570535104 244 250 SH   SOLE   250 0 0
MASTERCARD INCORPORATED CL A 57636Q104 477 4,244 SH   SOLE   4,244 0 0
MERCK & CO INC COM 58933Y105 3,358 52,854 SH   SOLE   52,854 0 0
MICROSOFT CORP COM 594918104 13,538 205,563 SH   SOLE   205,563 0 0
MONSANTO CO NEW COM 61166W101 12,120 107,065 SH   SOLE   107,065 0 0
NORTHWESTERN CORP COM NEW 668074305 542 9,241 SH   SOLE   9,241 0 0
NOVARTIS A G SPONSORED ADR 66987V109 5,457 73,469 SH   SOLE   73,469 0 0
NOVO-NORDISK A S ADR 670100205 343 10,000 SH   SOLE   10,000 0 0
PEPSICO INC COM 713448108 4,717 42,172 SH   SOLE   42,172 0 0
PFIZER INC COM 717081103 9,328 272,669 SH   SOLE   272,669 0 0
PHILIP MORRIS INTL INC COM 718172109 1,115 9,875 SH   SOLE   9,875 0 0
POWERSHARES ETF TR II DEV MKTS EX-US 73936T789 295 7,361 SH   SOLE   7,361 0 0
PROCTER AND GAMBLE CO COM 742718109 8,225 91,536 SH   SOLE   91,536 0 0
QUALCOMM INC COM 747525103 1,117 19,480 SH   SOLE   19,480 0 0
REGENCY CTRS CORP COM 758849103 8,838 133,125 SH   SOLE   133,125 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 217 1,500 SH   SOLE   1,500 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 9,662 459,426 SH   SOLE   459,426 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 6,551 117,342 SH   SOLE   117,342 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 1,287 24,401 SH   SOLE   24,401 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 2,725 76,551 SH   SOLE   76,551 0 0
SALESFORCE COM INC COM 79466L302 2,760 33,461 SH   SOLE   33,461 0 0
SCHLUMBERGER LTD COM 806857108 16,854 215,803 SH   SOLE   215,803 0 0
SCHWAB CHARLES CORP NEW COM 808513105 11,660 285,704 SH   SOLE   285,704 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,191 18,305 SH   SOLE   18,305 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 1,189 22,684 SH   SOLE   22,684 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 1,217 23,725 SH   SOLE   23,725 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 994 41,887 SH   SOLE   41,887 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,241 23,281 SH   SOLE   23,281 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 228 7,228 SH   SOLE   7,228 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,083 15,491 SH   SOLE   15,491 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 1,222 13,899 SH   SOLE   13,899 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,244 16,734 SH   SOLE   16,734 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,204 22,059 SH   SOLE   22,059 0 0
SEMPRA ENERGY COM 816851109 11,643 105,362 SH   SOLE   105,362 0 0
SIMON PPTY GROUP INC NEW COM 828806109 43,341 251,938 SH   SOLE   251,938 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 15,453 65,552 SH   SOLE   65,552 0 0
STARBUCKS CORP COM 855244109 13,816 236,610 SH   SOLE   236,610 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 7,625 232,680 SH   SOLE   232,680 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 12,154 79,128 SH   SOLE   79,128 0 0
TJX COS INC NEW COM 872540109 316 4,000 SH   SOLE   4,000 0 0
TRACTOR SUPPLY CO COM 892356106 7,449 108,005 SH   SOLE   108,005 0 0
UDR INC COM 902653104 8,554 235,917 SH   SOLE   235,917 0 0
UNILEVER PLC SPON ADR NEW 904767704 504 10,210 SH   SOLE   10,210 0 0
UNITED TECHNOLOGIES CORP COM 913017109 203 1,810 SH   SOLE   1,810 0 0
UNITEDHEALTH GROUP INC COM 91324P102 666 4,063 SH   SOLE   4,063 0 0
VANECK VECTORS ETF TR UNCVTL OIL GAS 92189F668 186 11,350 SH   SOLE   11,350 0 0
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 3,027 30,303 SH   SOLE   30,303 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 427 3,207 SH   SOLE   3,207 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,272 32,032 SH   SOLE   32,032 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 684 17,413 SH   SOLE   17,413 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 9,645 197,844 SH   SOLE   197,844 0 0
VISA INC COM CL A 92826C839 11,514 129,555 SH   SOLE   129,555 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 451 17,053 SH   SOLE   17,053 0 0
VORNADO RLTY TR SH BEN INT 929042109 18,834 187,761 SH   SOLE   187,761 0 0
VULCAN MATLS CO COM 929160109 7,503 62,274 SH   SOLE   62,274 0 0
WAL-MART STORES INC COM 931142103 258 3,578 SH   SOLE   3,578 0 0
WASTE MGMT INC DEL COM 94106L109 6,385 87,556 SH   SOLE   87,556 0 0
WATERS CORP COM 941848103 1,902 12,166 SH   SOLE   12,166 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 11,060 331,236 SH   SOLE   331,236 0 0
WELLS FARGO & CO NEW COM 949746101 17,222 309,417 SH   SOLE   309,417 0 0
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 2,619 43,325 SH   SOLE   43,325 0 0
WEYERHAEUSER CO COM 962166104 383 11,280 SH   SOLE   11,280 0 0