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
ALPHABET INC CAP STK CL A 02079K305 242 260 SH   SOLE 1 0 0 260
ALPS ETF TR ALERIAN MLP 00162Q866 304 25,379 SH   SOLE 1 0 0 25,379
AMERICAN ASSETS TR INC COM 024013104 929 23,580 SH   OTR 1 0 0 23,580
AMERICAN ASSETS TR INC COM 024013104 341 8,680 SH   SOLE 1 0 0 8,680
AMERICAN TOWER CORP NEW COM 03027X100 2,347 17,728 SH   OTR 1 0 0 17,728
APOLLO COML REAL EST FIN INC NOTE 5.500% 3/1 03762UAA3 34 31,000 PRN   OTR 1 0 0 31,000
ARMADA HOFFLER PPTYS INC COM 04208T108 738 56,970 SH   OTR 1 0 0 56,970
ARMADA HOFFLER PPTYS INC COM 04208T108 263 20,290 SH   SOLE 1 0 0 20,290
AVALONBAY CMNTYS INC COM 053484101 2,257 11,751 SH   OTR 1 0 0 11,751
BANK AMER CORP COM 060505104 444 18,328 SH   SOLE 1 0 0 18,328
BLACKBERRY LTD COM 09228F103 421 42,134 SH   SOLE 1 0 0 42,134
BOSTON PROPERTIES INC COM 101121101 1,785 14,511 SH   OTR 1 0 0 14,511
BOSTON PROPERTIES INC COM 101121101 642 5,217 SH   SOLE 1 0 0 5,217
BRF SA SPONSORED ADR 10552T107 148 12,542 SH   SOLE 1 0 0 12,542
BRISTOL MYERS SQUIBB CO COM 110122108 433 7,776 SH   SOLE 1 0 0 7,776
CAMDEN PPTY TR SH BEN INT 133131102 1,739 20,327 SH   OTR 1 0 0 20,327
COCA COLA CO COM 191216100 211 4,705 SH   SOLE 1 0 0 4,705
COUSINS PPTYS INC COM 222795106 815 92,605 SH   OTR 1 0 0 92,605
CROWN CASTLE INTL CORP NEW COM 22822V101 1,395 13,925 SH   OTR 1 0 0 13,925
CROWN CASTLE INTL CORP NEW COM 22822V101 502 5,020 SH   SOLE 1 0 0 5,020
CYRUSONE INC COM 23283R100 1,420 25,464 SH   OTR 1 0 0 25,464
CYRUSONE INC COM 23283R100 514 9,220 SH   SOLE 1 0 0 9,220
EASTGROUP PPTY INC COM 277276101 1,015 12,120 SH   OTR 1 0 0 12,120
EASTGROUP PPTY INC COM 277276101 325 3,890 SH   SOLE 1 0 0 3,890
EMPIRE ST RLTY TR INC CL A 292104106 831 40,040 SH   OTR 1 0 0 40,040
EMPIRE ST RLTY TR INC CL A 292104106 297 14,345 SH   SOLE 1 0 0 14,345
EQUINIX INC COM PAR $0.001 29444U700 975 2,272 SH   OTR 1 0 0 2,272
ESSEX PPTY TR INC COM 297178105 2,083 8,097 SH   OTR 1 0 0 8,097
EXONE CO COM 302104104 184 16,077 SH   SOLE 1 0 0 16,077
EXTRA SPACE STORAGE INC COM 30225T102 619 7,940 SH   OTR 1 0 0 7,940
EXTRA SPACE STORAGE INC COM 30225T102 217 2,769 SH   SOLE 1 0 0 2,769
EZCORP INC NOTE 2.625% 6/1 302301AB2 229 236,000 PRN   OTR 1 0 0 236,000
FITBIT INC CL A 33812L102 153 28,661 SH   SOLE 1 0 0 28,661
FLEXSHARES TR MORNSTAR UPSTR 33939L407 1,271 44,505 SH   SOLE 1 0 0 44,505
FLEXSHARES TR IBOXX 5YR TRGT 33939L605 6,393 256,114 SH   SOLE 1 0 0 256,114
FLUIDIGM CORP DEL NOTE 2.750% 2/0 34385PAA6 437 705,000 PRN   OTR 1 0 0 705,000
GGP INC COM 36174X101 1,830 77,685 SH   OTR 1 0 0 77,685
GGP INC COM 36174X101 672 28,502 SH   SOLE 1 0 0 28,502
GILEAD SCIENCES INC COM 375558103 347 4,907 SH   SOLE 1 0 0 4,907
GLOBAL X FDS GLB X SUPERDIV 37950E549 700 32,324 SH   SOLE 1 0 0 32,324
HOST HOTELS & RESORTS INC COM 44107P104 814 44,580 SH   OTR 1 0 0 44,580
IAMGOLD CORP COM 450913108 60 11,649 SH   SOLE 1 0 0 11,649
INDEPENDENCE RLTY TR INC COM 45378A106 686 69,470 SH   OTR 1 0 0 69,470
INDEPENDENCE RLTY TR INC COM 45378A106 250 25,355 SH   SOLE 1 0 0 25,355
INTUITIVE SURGICAL INC COM NEW 46120E602 347 371 SH   SOLE 1 0 0 371
ISHARES MIN VOL EMRG MKT 464286533 3,560 64,256 SH   SOLE 1 0 0 64,256
ISHARES TR GLOB TELECOM ETF 464287275 376 6,437 SH   SOLE 1 0 0 6,437
ISHARES TR CORE S&P MCP ETF 464287507 2,758 15,857 SH   SOLE 1 0 0 15,857
ISHARES TR INTL SEL DIV ETF 464288448 4,226 129,138 SH   SOLE 1 0 0 129,138
ISHARES TR EAFE GRWTH ETF 464288885 3,534 47,785 SH   SOLE 1 0 0 47,785
ISHARES TR MIN VOL EAFE ETF 46429B689 3,663 52,908 SH   SOLE 1 0 0 52,908
KILROY RLTY CORP COM 49427F108 1,259 16,760 SH   OTR 1 0 0 16,760
KITE RLTY GROUP TR COM NEW 49803T300 783 41,340 SH   OTR 1 0 0 41,340
KITE RLTY GROUP TR COM NEW 49803T300 269 14,201 SH   SOLE 1 0 0 14,201
LAUDER ESTEE COS INC CL A 518439104 203 2,106 SH   SOLE 1 0 0 2,106
LIFE STORAGE INC COM 53223X107 567 7,644 SH   SOLE 1 0 0 7,644
LIFE STORAGE INC COM 53223X107 1,513 20,417 SH   OTR 1 0 0 20,417
MACERICH CO COM 554382101 559 9,624 SH   OTR 1 0 0 9,624
MACERICH CO COM 554382101 208 3,591 SH   SOLE 1 0 0 3,591
MASTERCARD INCORPORATED CL A 57636Q104 333 2,739 SH   SOLE 1 0 0 2,739
MICROSOFT CORP COM 594918104 263 3,829 SH   SOLE 1 0 0 3,829
NVIDIA CORP COM 67066G104 1,019 7,051 SH   SOLE 1 0 0 7,051
PDL BIOPHARMA INC NOTE 2.750%12/0 69329YAG9 784 872,000 PRN   OTR 1 0 0 872,000
POWERSHARES ETF TR II PFD PORTFOLIO 73936T565 693 45,868 SH   SOLE 1 0 0 45,868
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 4,004 89,503 SH   SOLE 1 0 0 89,503
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 924 6,715 SH   SOLE 1 0 0 6,715
PRICE T ROWE GROUP INC COM 74144T108 1,113 15,000 SH   SOLE 1 0 0 15,000
PROSPECT CAPITAL CORPORATION NOTE 5.375%10/1 74348TAK8 239 238,000 PRN   OTR 1 0 0 238,000
REGENCY CTRS CORP COM 758849103 810 12,933 SH   OTR 1 0 0 12,933
REGENCY CTRS CORP COM 758849103 292 4,660 SH   SOLE 1 0 0 4,660
RETAIL OPPORTUNITY INVTS COR COM 76131N101 611 31,835 SH   OTR 1 0 0 31,835
RETAIL OPPORTUNITY INVTS COR COM 76131N101 217 11,340 SH   SOLE 1 0 0 11,340
REXFORD INDL RLTY INC COM 76169C100 474 17,240 SH   OTR 1 0 0 17,240
SIMON PPTY GROUP INC NEW COM 828806109 3,566 22,047 SH   OTR 1 0 0 22,047
SINCLAIR BROADCAST GROUP INC CL A 829226109 287 8,742 SH   SOLE 1 0 0 8,742
SPDR INDEX SHS FDS ASIA PACIF ETF 78463X301 4,061 44,399 SH   SOLE 1 0 0 44,399
TANGER FACTORY OUTLET CTRS I COM 875465106 545 20,980 SH   OTR 1 0 0 20,980
UDR INC COM 902653104 669 17,160 SH   OTR 1 0 0 17,160
UDR INC COM 902653104 256 6,595 SH   SOLE 1 0 0 6,595
UNITED TECHNOLOGIES CORP COM 913017109 256 2,095 SH   SOLE 1 0 0 2,095
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 228 2,692 SH   SOLE 1 0 0 2,692
VANGUARD INDEX FDS SML CP GRW ETF 922908595 2,791 19,158 SH   SOLE 1 0 0 19,158
VANGUARD INDEX FDS GROWTH ETF 922908736 1,879 14,793 SH   SOLE 1 0 0 14,793
VANGUARD INDEX FDS VALUE ETF 922908744 5,234 54,202 SH   SOLE 1 0 0 54,202
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,620 64,169 SH   SOLE 1 0 0 64,169
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 258 3,225 SH   SOLE 1 0 0 3,225
VANGUARD WORLD FDS UTILITIES ETF 92204A876 346 3,028 SH   SOLE 1 0 0 3,028
VISA INC COM CL A 92826C839 369 3,932 SH   SOLE 1 0 0 3,932
VORNADO RLTY TR SH BEN INT 929042109 1,216 12,957 SH   OTR 1 0 0 12,957
VORNADO RLTY TR SH BEN INT 929042109 425 4,532 SH   SOLE 1 0 0 4,532
WEINGARTEN RLTY INVS SH BEN INT 948741103 774 25,690 SH   OTR 1 0 0 25,690
WESTERN DIGITAL CORP COM 958102105 213 2,401 SH   SOLE 1 0 0 2,401
WHITESTONE REIT COM 966084204 582 47,510 SH   OTR 1 0 0 47,510