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 254 6,500 SH   OTR 1,2,3 0 6,500 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 324 2,010 SH   DFND 1,2,3 2,010 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 10,817 51,000 SH   DFND 1,2,3 51,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1,315 6,204 SH   OTR 1,2,3 0 6,204 0
ALPHABET INC CAP STK CL C 02079K107 1,340 1,002 SH   OTR 1,2,3 0 1,002 0
AMAZON COM INC COM 023135106 563 305 SH   OTR 1,2,3 0 305 0
AMERICA FIRST MULTIFAMILY IN BEN UNIT CTF 02364V107 347 45,000 SH   DFND 1,2,3 45,000 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 202 4,300 SH   DFND 1,2,3 4,300 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 48 1,000 SH   OTR 1,2,3 0 1,000 0
APARTMENT INVT & MGMT CO CL A 03748R754 2,561 49,583 SH   DFND 1,2,3 49,583 0 0
APPLE INC COM 037833100 604 2,054 SH   OTR 1,2,3 0 2,054 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 728 260,523 SH   DFND 1,2,3 260,523 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 238 85,400 SH   OTR 1,2,3 0 85,400 0
BP PLC SPONSORED ADR 055622104 1,064 28,200 SH   DFND 1,2,3 28,200 0 0
BP PLC SPONSORED ADR 055622104 253 6,700 SH   OTR 1,2,3 0 6,700 0
BNY MELLON STRATEGIC MUNS IN COM 05588W108 399 46,922 SH   DFND 1,2,3 46,922 0 0
BNY MELLON STRATEGIC MUNS IN COM 05588W108 9 1,100 SH   OTR 1,2,3 0 1,100 0
BNY MELLON STRATEGIC MUNS IN COM 05589T104 117 13,157 SH   DFND 1,2,3 13,157 0 0
BANK AMER CORP COM 060505104 212 6,000 SH   DFND 1,2,3 6,000 0 0
BANK AMER CORP COM 060505104 1,067 30,300 SH   OTR 1,2,3 0 30,300 0
BANK AMER CORP 7.25%CNV PFD L 060505682 869 600 SH   DFND 1,2,3 600 0 0
BANK AMER CORP 7.25%CNV PFD L 060505682 1,503 1,037 SH   OTR 1,2,3 0 1,037 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 204 900 SH   OTR 1,2,3 0 900 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 445 31,622 SH   DFND 1,2,3 31,622 0 0
BLACKROCK MUNICIPL INC QLTY COM 092479104 70 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 29 1,887 SH   DFND 1,2,3 1,887 0 0
BLACKROCK MUNIHLDGS FD II IN COM 09253P109 251 16,500 SH   OTR 1,2,3 0 16,500 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 206 14,500 SH   DFND 1,2,3 14,500 0 0
BLACKROCK MUNI INTER DR FD I COM 09253X102 83 5,800 SH   OTR 1,2,3 0 5,800 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 543 43,217 SH   DFND 1,2,3 43,217 0 0
BLACKROCK MUNIHOLDNGS QLTY I COM 09254A101 161 12,815 SH   OTR 1,2,3 0 12,815 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 147 11,597 SH   DFND 1,2,3 11,597 0 0
BLACKROCK MUNIHLDNGS QLTY II COM 09254C107 63 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 427 31,665 SH   DFND 1,2,3 31,665 0 0
BLACKROCK MUNIYIELD QLTY FD COM 09254E103 20 1,500 SH   OTR 1,2,3 0 1,500 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 103 7,900 SH   DFND 1,2,3 7,900 0 0
BLACKROCK MUNIY QUALITY FD I COM 09254G108 65 5,000 SH   OTR 1,2,3 0 5,000 0
BLACKSTONE GROUP INC COM CL A 09260D107 246 4,400 SH   DFND 1,2,3 4,400 0 0
BLACKSTONE GROUP INC COM CL A 09260D107 344 6,100 SH   OTR 1,2,3 0 6,100 0
CISCO SYS INC COM 17275R102 302 6,300 SH   DFND 1,2,3 6,300 0 0
CISCO SYS INC COM 17275R102 284 5,900 SH   OTR 1,2,3 0 5,900 0
CITIGROUP INC COM NEW 172967424 823 10,300 SH   DFND 1,2,3 10,300 0 0
CITIGROUP INC COM NEW 172967424 160 2,000 SH   OTR 1,2,3 0 2,000 0
COLONY CAP INC NEW CL A COM 19626G108 278 58,459 SH   DFND 1,2,3 58,459 0 0
COLONY CAP INC NEW CL A COM 19626G108 3 549 SH   OTR 1,2,3 0 549 0
CONOCOPHILLIPS COM 20825C104 371 5,700 SH   DFND 1,2,3 5,700 0 0
CONOCOPHILLIPS COM 20825C104 248 3,800 SH   OTR 1,2,3 0 3,800 0
CROWN CASTLE INTL CORP NEW COM 22822V101 213 1,500 SH   OTR 1,2,3 0 1,500 0
CYRUSONE INC COM 23283R100 1,885 28,800 SH   DFND 1,2,3 28,800 0 0
CYRUSONE INC COM 23283R100 729 11,100 SH   OTR 1,2,3 0 11,100 0
EATON VANCE MUN BD FD COM 27827X101 847 65,787 SH   DFND 1,2,3 65,787 0 0
EATON VANCE MUN BD FD COM 27827X101 114 8,876 SH   OTR 1,2,3 0 8,876 0
ENTERPRISE PRODS PARTNERS L COM 293792107 225 8,000 SH   DFND 1,2,3 8,000 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 145 5,100 SH   OTR 1,2,3 0 5,100 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,788 22,100 SH   DFND 1,2,3 22,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 324 4,014 SH   OTR 1,2,3 0 4,014 0
EXXON MOBIL CORP COM 30231G102 216 3,100 SH   DFND 1,2,3 3,100 0 0
EXXON MOBIL CORP COM 30231G102 356 5,100 SH   OTR 1,2,3 0 5,100 0
GENERAL ELECTRIC CO COM 369604103 625 56,000 SH   DFND 1,2,3 56,000 0 0
GENERAL ELECTRIC CO COM 369604103 137 12,331 SH   OTR 1,2,3 0 12,331 0
GILEAD SCIENCES INC COM 375558103 6 100 SH   DFND 1,2,3 100 0 0
GILEAD SCIENCES INC COM 375558103 352 5,450 SH   OTR 1,2,3 0 5,450 0
GLOBAL MED REIT INC COM NEW 37954A204 236 17,813 SH   DFND 1,2,3 17,813 0 0
GLOBAL MED REIT INC COM NEW 37954A204 215 16,058 SH   OTR 1,2,3 0 16,058 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,380 6,000 SH   DFND 1,2,3 6,000 0 0
INTEL CORP COM 458140100 239 4,000 SH   DFND 1,2,3 4,000 0 0
INTEL CORP COM 458140100 239 4,001 SH   OTR 1,2,3 0 4,001 0
INVESCO VALUE MUN INCOME TR COM 46132P108 1,891 123,403 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
JPMORGAN CHASE & CO COM 46625H100 3,457 24,800 SH   DFND 1,2,3 24,800 0 0
JPMORGAN CHASE & CO COM 46625H100 244 1,750 SH   OTR 1,2,3 0 1,750 0
JD COM INC SPON ADR CL A 47215P106 352 10,000 SH   OTR 1,2,3 0 10,000 0
KITE RLTY GROUP TR COM NEW 49803T300 769 39,332 SH   OTR 1,2,3 0 39,332 0
KROGER CO COM 501044101 435 15,000 SH   DFND 1,2,3 15,000 0 0
KROGER CO COM 501044101 395 13,600 SH   OTR 1,2,3 0 13,600 0
MPLX LP COM UNIT REP LTD 55336V100 580 22,800 SH   DFND 1,2,3 22,800 0 0
MPLX LP COM UNIT REP LTD 55336V100 199 7,800 SH   OTR 1,2,3 0 7,800 0
MARATHON PETE CORP COM 56585A102 1,579 26,200 SH   DFND 1,2,3 26,200 0 0
MARATHON PETE CORP COM 56585A102 957 15,900 SH   OTR 1,2,3 0 15,900 0
MEDICAL PPTYS TRUST INC COM 58463J304 2,314 109,600 SH   DFND 1,2,3 109,600 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 996 47,200 SH   OTR 1,2,3 0 47,200 0
MEDIFAST INC COM 58470H101 2,411 22,000 SH   DFND 1,2,3 22,000 0 0
MEDIFAST INC COM 58470H101 329 3,000 SH   OTR 1,2,3 0 3,000 0
MICROSOFT CORP COM 594918104 632 4,007 SH   OTR 1,2,3 0 4,007 0
MORGAN STANLEY COM NEW 617446448 1,125 22,000 SH   DFND 1,2,3 22,000 0 0
NETFLIX INC COM 64110L106 679 2,100 SH   OTR 1,2,3 0 2,100 0
NIKE INC CL B 654106103 233 2,300 SH   OTR 1,2,3 0 2,300 0
NOODLES & CO COM CL A 65540B105 4,047 730,500 SH   DFND 1,2,3 730,500 0 0
NOODLES & CO COM CL A 65540B105 66 12,000 SH   OTR 1,2,3 0 12,000 0
NUTANIX INC CL A 67059N108 531 17,000 SH   DFND 1,2,3 17,000 0 0
NUTANIX INC CL A 67059N108 455 14,600 SH   OTR 1,2,3 0 14,600 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 2,059 143,142 SH   DFND 1,2,3 143,142 0 0
NUVEEN AMT FREE QLTY MUN INC COM 670657105 103 7,190 SH   OTR 1,2,3 0 7,190 0
NVIDIA CORP COM 67066G104 259 1,100 SH   OTR 1,2,3 0 1,100 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 969 66,398 SH   DFND 1,2,3 66,398 0 0
NUVEEN QUALITY MUNCP INCOME COM 67066V101 291 19,942 SH   OTR 1,2,3 0 19,942 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 28 2,000 SH   DFND 1,2,3 2,000 0 0
NUVEEN MUN HIGH INCOME OPP F COM 670682103 151 10,700 SH   OTR 1,2,3 0 10,700 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 555 33,939 SH   DFND 1,2,3 33,939 0 0
NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT 67070X101 477 29,170 SH   OTR 1,2,3 0 29,170 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 4,096 245,698 SH   DFND 1,2,3 245,698 0 0
NUVEEN AMT FREE MUN CR INC F COM 67071L106 448 26,885 SH   OTR 1,2,3 0 26,885 0
OMEGA HEALTHCARE INVS INC COM 681936100 601 14,200 SH   DFND 1,2,3 14,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 173 4,100 SH   OTR 1,2,3 0 4,100 0
ONE LIBERTY PPTYS INC COM 682406103 527 19,374 SH   DFND 1,2,3 19,374 0 0
ONE LIBERTY PPTYS INC COM 682406103 76 2,799 SH   OTR 1,2,3 0 2,799 0
PALO ALTO NETWORKS INC COM 697435105 46 200 SH   DFND 1,2,3 200 0 0
PALO ALTO NETWORKS INC COM 697435105 532 2,300 SH   OTR 1,2,3 0 2,300 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 370 6,000 SH   DFND 1,2,3 6,000 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 154 2,500 SH   OTR 1,2,3 0 2,500 0
PROLOGIS INC COM 74340W103 1,094 12,276 SH   DFND 1,2,3 12,276 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 720 90,112 SH   DFND 1,2,3 90,112 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 88 11,000 SH   OTR 1,2,3 0 11,000 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 597 45,366 SH   DFND 1,2,3 45,366 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 151 11,500 SH   OTR 1,2,3 0 11,500 0
QTS RLTY TR INC COM CL A 74736A103 1,275 23,500 SH   DFND 1,2,3 23,500 0 0
QTS RLTY TR INC COM CL A 74736A103 1,078 19,900 SH   OTR 1,2,3 0 19,900 0
RED LION HOTELS CORP COM 756764106 118 31,544 SH   DFND 1,2,3 31,544 0 0
RETAIL PPTYS AMER INC CL A 76131V202 37,459 2,795,443 SH   DFND 1,2,3 2,795,443 0 0
RETAIL PPTYS AMER INC CL A 76131V202 86,977 6,490,705 SH   OTR 1,2,3 0 6,490,705 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 2,500 42,400 SH   DFND 1,2,3 42,400 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 644 10,900 SH   OTR 1,2,3 0 10,900 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 393 1,222 SH   DFND 1,2,3 1,222 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 29 88 SH   OTR 1,2,3 0 88 0
SABRA HEALTH CARE REIT INC COM 78573L106 144 6,723 SH   DFND 1,2,3 6,723 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 60 2,800 SH   OTR 1,2,3 0 2,800 0
STARBUCKS CORP COM 855244109 308 3,500 SH   OTR 1,2,3 0 3,500 0
TAILORED BRANDS INC COM 87403A107 414 100,000 SH   DFND 1,2,3 100,000 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 367 3,000 SH   DFND 1,2,3 3,000 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 244 2,000 SH   OTR 1,2,3 0 2,000 0
UBER TECHNOLOGIES INC COM 90353T100 832 28,000 SH   DFND 1,2,3 28,000 0 0
UBER TECHNOLOGIES INC COM 90353T100 59 2,000 SH   OTR 1,2,3 0 2,000 0
UNITEDHEALTH GROUP INC COM 91324P102 1,558 5,300 SH   DFND 1,2,3 5,300 0 0
UNITEDHEALTH GROUP INC COM 91324P102 1,250 4,250 SH   OTR 1,2,3 0 4,250 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 1,832 15,613 SH   DFND 1,2,3 15,613 0 0
VEREIT INC COM 92339V100 6,653 719,968 SH   DFND 1,2,3 719,968 0 0
VEREIT INC COM 92339V100 1,012 109,466 SH   OTR 1,2,3 0 109,466 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,320 21,500 SH   DFND 1,2,3 21,500 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 797 12,950 SH   OTR 1,2,3 0 12,950 0
VMWARE INC CL A COM 928563402 228 1,500 SH   OTR 1,2,3 0 1,500 0
WELLS FARGO CO NEW COM 949746101 1,373 25,500 SH   DFND 1,2,3 25,500 0 0
WELLS FARGO CO NEW COM 949746101 168 3,100 SH   OTR 1,2,3 0 3,100 0
XENIA HOTELS & RESORTS INC COM 984017103 22 1,000 SH   DFND 1,2,3 1,000 0 0
XENIA HOTELS & RESORTS INC COM 984017103 1,268 58,678 SH   OTR 1,2,3 0 58,678 0