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 COM 015271109 307 2,765 SH   SOLE 1 0 0 2,765
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 871 7,840 SH   OTR 1 0 0 7,840
ALPHABET INC CAP STK CL A 02079K305 74 93 SH   OTR 1 0 0 93
ALPHABET INC CAP STK CL A 02079K305 187 236 SH   SOLE 1 0 0 236
ALPHABET INC CAP STK CL C 02079K107 29 38 SH   OTR 1 0 0 38
ALPHABET INC CAP STK CL C 02079K107 267 345 SH   SOLE 1 0 0 345
ALPS ETF TR ALERIAN MLP 00162Q866 378 29,931 SH   SOLE 1 0 0 29,931
AMERICAN ASSETS TR INC COM 024013104 1,021 23,715 SH   OTR 1 0 0 23,715
AMERICAN ASSETS TR INC COM 024013104 360 8,350 SH   SOLE 1 0 0 8,350
AMERICAN TOWER CORP NEW COM 03027X100 1,195 11,301 SH   OTR 1 0 0 11,301
AMERICAN TOWER CORP NEW COM 03027X100 434 4,097 SH   SOLE 1 0 0 4,097
AON PLC SHS CL A G0408V102 215 1,925 SH   SOLE 1 0 0 1,925
APOLLO COML REAL EST FIN INC NOTE 5.500% 3/1 03762UAA3 32 31,000 PRN   SOLE 1 0 0 31,000
APPLE INC COM 037833100 120 1,040 SH   OTR 1 0 0 1,040
APPLE INC COM 037833100 143 1,241 SH   SOLE 1 0 0 1,241
ARMADA HOFFLER PPTYS INC COM 04208T108 302 20,700 SH   SOLE 1 0 0 20,700
ARMADA HOFFLER PPTYS INC COM 04208T108 849 58,245 SH   OTR 1 0 0 58,245
AT&T INC COM 00206R102 128 3,025 SH   OTR 1 0 0 3,025
AT&T INC COM 00206R102 117 2,760 SH   SOLE 1 0 0 2,760
AVALONBAY CMNTYS INC COM 053484101 1,578 8,908 SH   OTR 1 0 0 8,908
AVALONBAY CMNTYS INC COM 053484101 558 3,147 SH   SOLE 1 0 0 3,147
BANK AMER CORP COM 060505104 231 10,474 SH   SOLE 1 0 0 10,474
BLACKBERRY LTD COM 09228F103 237 34,434 SH   SOLE 1 0 0 34,434
BOSTON PROPERTIES INC COM 101121101 1,913 15,204 SH   OTR 1 0 0 15,204
BOSTON PROPERTIES INC COM 101121101 675 5,377 SH   SOLE 1 0 0 5,377
BRISTOL MYERS SQUIBB CO COM 110122108 15 265 SH   OTR 1 0 0 265
BRISTOL MYERS SQUIBB CO COM 110122108 321 5,495 SH   SOLE 1 0 0 5,495
CAMDEN PPTY TR SH BEN INT 133131102 448 5,324 SH   SOLE 1 0 0 5,324
CAMDEN PPTY TR SH BEN INT 133131102 1,311 15,594 SH   OTR 1 0 0 15,594
COUSINS PPTYS INC COM 222795106 189 22,221 SH   SOLE 1 0 0 22,221
COUSINS PPTYS INC COM 222795106 541 63,585 SH   OTR 1 0 0 63,585
CROWN CASTLE INTL CORP NEW COM 22822V101 1,273 14,675 SH   OTR 1 0 0 14,675
CROWN CASTLE INTL CORP NEW COM 22822V101 444 5,115 SH   SOLE 1 0 0 5,115
CYRUSONE INC COM 23283R100 1,189 26,589 SH   OTR 1 0 0 26,589
CYRUSONE INC COM 23283R100 414 9,260 SH   SOLE 1 0 0 9,260
EASTGROUP PPTY INC COM 277276101 983 13,310 SH   OTR 1 0 0 13,310
EASTGROUP PPTY INC COM 277276101 319 4,325 SH   SOLE 1 0 0 4,325
EMPIRE ST RLTY TR INC CL A 292104106 808 40,025 SH   OTR 1 0 0 40,025
EMPIRE ST RLTY TR INC CL A 292104106 288 14,280 SH   SOLE 1 0 0 14,280
ENTERPRISE PRODS PARTNERS L COM 293792107 89 3,300 SH   OTR 1 0 0 3,300
ENTERPRISE PRODS PARTNERS L COM 293792107 222 8,225 SH   SOLE 1 0 0 8,225
EQUITY RESIDENTIAL SH BEN INT 29476L107 198 3,085 SH   SOLE 1 0 0 3,085
EQUITY RESIDENTIAL SH BEN INT 29476L107 593 9,225 SH   OTR 1 0 0 9,225
ESSEX PPTY TR INC COM 297178105 1,396 6,005 SH   OTR 1 0 0 6,005
ESSEX PPTY TR INC COM 297178105 501 2,153 SH   SOLE 1 0 0 2,153
EXONE CO COM 302104104 136 14,525 SH   SOLE 1 0 0 14,525
EXTRA SPACE STORAGE INC COM 30225T102 613 7,930 SH   OTR 1 0 0 7,930
EXTRA SPACE STORAGE INC COM 30225T102 226 2,924 SH   SOLE 1 0 0 2,924
EXXON MOBIL CORP COM 30231G102 240 2,665 SH   SOLE 1 0 0 2,665
EZCORP INC NOTE 2.625% 6/1 302301AB2 170 176,000 PRN   SOLE 1 0 0 176,000
FACEBOOK INC CL A 30303M102 159 1,378 SH   OTR 1 0 0 1,378
FACEBOOK INC CL A 30303M102 86 747 SH   SOLE 1 0 0 747
FLEXSHARES TR IBOXX 5YR TRGT 33939L605 6,156 246,018 SH   SOLE 1 0 0 246,018
FLEXSHARES TR MORNSTAR UPSTR 33939L407 1,021 35,610 SH   SOLE 1 0 0 35,610
FLUIDIGM CORP DEL NOTE 2.750% 2/0 34385PAA6 457 661,000 PRN   SOLE 1 0 0 661,000
GENERAL ELECTRIC CO COM 369604103 155 4,895 SH   OTR 1 0 0 4,895
GENERAL ELECTRIC CO COM 369604103 67 2,145 SH   SOLE 1 0 0 2,145
GENERAL GROWTH PPTYS INC NEW COM 370023103 417 16,752 SH   SOLE 1 0 0 16,752
GENERAL GROWTH PPTYS INC NEW COM 370023103 1,160 46,445 SH   OTR 1 0 0 46,445
GLOBAL X FDS GLB X SUPERDIV 37950E549 695 33,410 SH   SOLE 1 0 0 33,410
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 1,020 47,459 SH   OTR 1 0 0 47,459
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 353 16,440 SH   SOLE 1 0 0 16,440
HOST HOTELS & RESORTS INC COM 44107P104 570 30,240 SH   OTR 1 0 0 30,240
HOST HOTELS & RESORTS INC COM 44107P104 202 10,690 SH   SOLE 1 0 0 10,690
INDEPENDENCE RLTY TR INC COM 45378A106 567 63,630 SH   OTR 1 0 0 63,630
INDEPENDENCE RLTY TR INC COM 45378A106 203 22,795 SH   SOLE 1 0 0 22,795
ISHARES MIN VOL EMRG MKT 464286533 2,806 57,361 SH   SOLE 1 0 0 57,361
ISHARES TR CORE S&P MCP ETF 464287507 2,700 16,333 SH   SOLE 1 0 0 16,333
ISHARES TR EAFE GRWTH ETF 464288885 2,976 46,723 SH   SOLE 1 0 0 46,723
ISHARES TR GLOB TELECOM ETF 464287275 378 6,444 SH   SOLE 1 0 0 6,444
ISHARES TR INTL SEL DIV ETF 464288448 3,774 127,654 SH   SOLE 1 0 0 127,654
ISHARES TR MIN VOL EAFE ETF 46429B689 2,868 46,837 SH   SOLE 1 0 0 46,837
KILROY RLTY CORP COM 49427F108 879 12,005 SH   OTR 1 0 0 12,005
KILROY RLTY CORP COM 49427F108 324 4,425 SH   SOLE 1 0 0 4,425
KITE RLTY GROUP TR COM NEW 49803T300 972 41,420 SH   OTR 1 0 0 41,420
KITE RLTY GROUP TR COM NEW 49803T300 343 14,606 SH   SOLE 1 0 0 14,606
LIFE STORAGE INC COM 53223X107 1,815 21,287 SH   OTR 1 0 0 21,287
LIFE STORAGE INC COM 53223X107 658 7,728 SH   SOLE 1 0 0 7,728
MACERICH CO COM 554382101 593 8,370 SH   OTR 1 0 0 8,370
MACERICH CO COM 554382101 216 3,046 SH   SOLE 1 0 0 3,046
MARRIOTT INTL INC NEW CL A 571903202 672 8,125 SH   OTR 1 0 0 8,125
MARRIOTT INTL INC NEW CL A 571903202 341 4,121 SH   SOLE 1 0 0 4,121
MASTERCARD INCORPORATED CL A 57636Q104 243 2,353 SH   SOLE 1 0 0 2,353
MICROSOFT CORP COM 594918104 271 4,370 SH   SOLE 1 0 0 4,370
NVIDIA CORP COM 67066G104 982 9,199 SH   SOLE 1 0 0 9,199
PARKWAY INC COM 70156Q107 113 5,071 SH   SOLE 1 0 0 5,071
PARKWAY INC COM 70156Q107 308 13,864 SH   OTR 1 0 0 13,864
PDL BIOPHARMA INC NOTE 2.750%12/0 69329YAG9 709 884,000 PRN   SOLE 1 0 0 884,000
POWERSHARES ETF TR II PFD PORTFOLIO 73936T565 671 47,161 SH   SOLE 1 0 0 47,161
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 3,480 83,671 SH   SOLE 1 0 0 83,671
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 812 6,852 SH   SOLE 1 0 0 6,852
PRICE T ROWE GROUP INC COM 74144T108 1,129 15,000 SH   SOLE 1 0 0 15,000
PROSPECT CAPITAL CORPORATION NOTE 5.375%10/1 74348TAK8 203 200,000 PRN   SOLE 1 0 0 200,000
QUANTA SVCS INC COM 74762E102 266 7,626 SH   SOLE 1 0 0 7,626
RETAIL OPPORTUNITY INVTS COR COM 76131N101 599 28,320 SH   OTR 1 0 0 28,320
RETAIL OPPORTUNITY INVTS COR COM 76131N101 220 10,410 SH   SOLE 1 0 0 10,410
SIMON PPTY GROUP INC NEW COM 828806109 2,743 15,436 SH   OTR 1 0 0 15,436
SIMON PPTY GROUP INC NEW COM 828806109 989 5,564 SH   SOLE 1 0 0 5,564
SINCLAIR BROADCAST GROUP INC CL A 829226109 341 10,239 SH   SOLE 1 0 0 10,239
SPDR INDEX SHS FDS ASIA PACIF ETF 78463X301 3,335 44,390 SH   SOLE 1 0 0 44,390
TANGER FACTORY OUTLET CTRS I COM 875465106 194 5,405 SH   SOLE 1 0 0 5,405
TANGER FACTORY OUTLET CTRS I COM 875465106 499 13,955 SH   OTR 1 0 0 13,955
TARGET CORP COM 87612E106 216 2,989 SH   SOLE 1 0 0 2,989
UDR INC COM 902653104 244 6,710 SH   SOLE 1 0 0 6,710
UDR INC COM 902653104 639 17,540 SH   OTR 1 0 0 17,540
UNITED TECHNOLOGIES CORP COM 913017109 227 2,072 SH   SOLE 1 0 0 2,072
VANGUARD INDEX FDS GROWTH ETF 922908736 2,097 18,822 SH   SOLE 1 0 0 18,822
VANGUARD INDEX FDS SML CP GRW ETF 922908595 2,578 19,361 SH   SOLE 1 0 0 19,361
VANGUARD INDEX FDS VALUE ETF 922908744 5,263 56,587 SH   SOLE 1 0 0 56,587
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,112 59,006 SH   SOLE 1 0 0 59,006
VANGUARD WORLD FDS UTILITIES ETF 92204A876 335 3,128 SH   SOLE 1 0 0 3,128
VISA INC COM CL A 92826C839 81 1,047 SH   OTR 1 0 0 1,047
VISA INC COM CL A 92826C839 257 3,300 SH   SOLE 1 0 0 3,300
VORNADO RLTY TR SH BEN INT 929042109 1,275 12,215 SH   OTR 1 0 0 12,215
VORNADO RLTY TR SH BEN INT 929042109 451 4,317 SH   SOLE 1 0 0 4,317
WEINGARTEN RLTY INVS SH BEN INT 948741103 249 6,960 SH   SOLE 1 0 0 6,960
WEINGARTEN RLTY INVS SH BEN INT 948741103 664 18,545 SH   OTR 1 0 0 18,545