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 2,219 10,573 SH   SOLE   10,573 0 0
ABBVIE INC COM 00287Y109 876 9,860 SH   SOLE   9,860 0 0
AIR PRODS & CHEMS INC COM 009158106 534 3,529 SH   SOLE   3,529 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 1,186 9,970 SH   SOLE   9,970 0 0
ALLERGAN PLC SHS G0177J108 9,758 47,612 SH   SOLE   47,612 0 0
ALPHABET INC CAP STK CL A 02079K305 4,996 5,131 SH   SOLE   5,131 0 0
ALPHABET INC CAP STK CL C 02079K107 16,830 17,548 SH   SOLE   17,548 0 0
ALTRIA GROUP INC COM 02209S103 521 8,214 SH   SOLE   8,214 0 0
AMAZON COM INC COM 023135106 19,722 20,515 SH   SOLE   20,515 0 0
AMBAC FINL GROUP INC COM NEW 023139884 173 10,000 SH   SOLE   10,000 0 0
AMERICAN ASSETS TR INC COM 024013104 12,221 307,297 SH   SOLE   307,297 0 0
AMERICAN EXPRESS CO COM 025816109 11,106 122,773 SH   SOLE   122,773 0 0
AMERICAN TOWER CORP NEW COM 03027X100 25,640 187,589 SH   SOLE   187,589 0 0
ANADARKO PETE CORP COM 032511107 7,890 161,515 SH   SOLE   161,515 0 0
APPLE INC COM 037833100 21,061 136,654 SH   SOLE   136,654 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 11,910 862,386 SH   SOLE   862,386 0 0
AT&T INC COM 00206R102 960 24,516 SH   SOLE   24,516 0 0
AVALONBAY CMNTYS INC COM 053484101 21,629 121,228 SH   SOLE   121,228 0 0
BANK AMER CORP COM 060505104 8,746 345,133 SH   SOLE   345,133 0 0
BANK AMER CORP *W EXP 01/16/201 060505146 556 42,000 SH   SOLE   42,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,125 6,136 SH   SOLE   6,136 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 275 1 SH   SOLE   1 0 0
BOEING CO COM 097023105 254 1,000 SH   SOLE   1,000 0 0
BORGWARNER INC COM 099724106 5,872 114,616 SH   SOLE   114,616 0 0
BOSTON PROPERTIES INC COM 101121101 25,005 203,487 SH   SOLE   203,487 0 0
BROADCOM LTD SHS Y09827109 8,749 36,074 SH   SOLE   36,074 0 0
BRUKER CORP COM 116794108 299 10,040 SH   SOLE   10,040 0 0
CAMDEN PPTY TR SH BEN INT 133131102 18,321 200,341 SH   SOLE   200,341 0 0
CARLISLE COS INC COM 142339100 264 2,635 SH   SOLE   2,635 0 0
CATERPILLAR INC DEL COM 149123101 7,967 63,885 SH   SOLE   63,885 0 0
CELGENE CORP COM 151020104 11,261 77,227 SH   SOLE   77,227 0 0
CERNER CORP COM 156782104 596 8,350 SH   SOLE   8,350 0 0
CHART INDS INC NOTE 2.000% 8/0 16115QAC4 199 200,000 PRN   SOLE   200,000 0 0
CHEVRON CORP NEW COM 166764100 838 7,129 SH   SOLE   7,129 0 0
CISCO SYS INC COM 17275R102 239 7,101 SH   SOLE   7,101 0 0
CITIGROUP INC COM NEW 172967424 8,627 118,597 SH   SOLE   118,597 0 0
COCA COLA CO COM 191216100 1,694 37,639 SH   SOLE   37,639 0 0
COMCAST CORP NEW CL A 20030N101 6,788 176,393 SH   SOLE   176,393 0 0
COSTCO WHSL CORP NEW COM 22160K105 10,673 64,966 SH   SOLE   64,966 0 0
COUSINS PPTYS INC COM 222795106 9,946 1,064,880 SH   SOLE   1,064,880 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 19,194 191,982 SH   SOLE   191,982 0 0
CUMMINS INC COM 231021106 385 2,290 SH   SOLE   2,290 0 0
CVS HEALTH CORP COM 126650100 539 6,634 SH   SOLE   6,634 0 0
CYRUSONE INC COM 23283R100 19,713 334,524 SH   SOLE   334,524 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 366 6,326 SH   SOLE   6,326 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 11,629 118,181 SH   SOLE   118,181 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 495 3,747 SH   SOLE   3,747 0 0
DISNEY WALT CO COM DISNEY 254687106 10,834 109,908 SH   SOLE   109,908 0 0
DOUGLAS EMMETT INC COM 25960P109 9,490 240,743 SH   SOLE   240,743 0 0
DOWDUPONT INC COM 26078J100 19,166 276,842 SH   SOLE   276,842 0 0
EASTGROUP PPTY INC COM 277276101 13,735 155,866 SH   SOLE   155,866 0 0
EMERSON ELEC CO COM 291011104 9,100 144,816 SH   SOLE   144,816 0 0
EMPIRE ST RLTY TR INC CL A 292104106 13,287 646,887 SH   SOLE   646,887 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 4,099 157,224 SH   SOLE   157,224 0 0
EOG RES INC COM 26875P101 235 2,433 SH   SOLE   2,433 0 0
EQUINIX INC COM PAR $0.001 29444U700 12,915 28,937 SH   SOLE   28,937 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 509 7,715 SH   SOLE   7,715 0 0
ESSEX PPTY TR INC COM 297178105 23,105 90,955 SH   SOLE   90,955 0 0
EXTRA SPACE STORAGE INC COM 30225T102 10,108 126,478 SH   SOLE   126,478 0 0
EXXON MOBIL CORP COM 30231G102 13,760 167,848 SH   SOLE   167,848 0 0
FACEBOOK INC CL A 30303M102 17,446 102,102 SH   SOLE   102,102 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 288 2,320 SH   SOLE   2,320 0 0
GENERAL ELECTRIC CO COM 369604103 1,672 69,157 SH   SOLE   69,157 0 0
GGP INC COM 36174X101 25,901 1,247,054 SH   SOLE   1,247,054 0 0
GILEAD SCIENCES INC COM 375558103 1,313 16,205 SH   SOLE   16,205 0 0
GLOBALSTAR INC COM 378973408 192 117,500 SH   SOLE   117,500 0 0
HALLIBURTON CO COM 406216101 2,454 53,315 SH   SOLE   53,315 0 0
HCP INC COM 40414L109 299 10,730 SH   SOLE   10,730 0 0
HONEYWELL INTL INC COM 438516106 8,767 61,850 SH   SOLE   61,850 0 0
HOST HOTELS & RESORTS INC COM 44107P104 9,988 540,183 SH   SOLE   540,183 0 0
HP INC COM 40434L105 368 18,454 SH   SOLE   18,454 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 10,387 1,021,381 SH   SOLE   1,021,381 0 0
INTEL CORP SDCV 2.950%12/1 458140AD2 199 140,000 PRN   SOLE   140,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,440 9,925 SH   SOLE   9,925 0 0
ISHARES INC MIN VOL EMRG MKT 464286533 220 3,784 SH   SOLE   3,784 0 0
ISHARES INC CORE MSCI EMKT 46434G103 339 6,275 SH   SOLE   6,275 0 0
ISHARES TR MSCI EAFE ETF 464287465 2,906 42,435 SH   SOLE   42,435 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 211 2,500 SH   SOLE   2,500 0 0
JBG SMITH PPTYS COM 46590V100 3,043 88,962 SH   SOLE   88,962 0 0
JOHN HANCOCK EXCHANGE TRADED MULTIFACTOR MI 47804J206 568 17,584 SH   SOLE   17,584 0 0
JOHN HANCOCK EXCHANGE TRADED MULTI INTL ETF 47804J859 558 18,903 SH   SOLE   18,903 0 0
JOHNSON & JOHNSON COM 478160104 10,637 81,820 SH   SOLE   81,820 0 0
JPMORGAN CHASE & CO COM 46625H100 15,345 160,667 SH   SOLE   160,667 0 0
KILROY RLTY CORP COM 49427F108 15,288 214,966 SH   SOLE   214,966 0 0
KIMBERLY CLARK CORP COM 494368103 203 1,724 SH   SOLE   1,724 0 0
KIMCO RLTY CORP COM 49446R109 233 11,895 SH   SOLE   11,895 0 0
KITE RLTY GROUP TR COM NEW 49803T300 12,476 616,085 SH   SOLE   616,085 0 0
KRAFT HEINZ CO COM 500754106 245 3,159 SH   SOLE   3,159 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 528 3,500 SH   SOLE   3,500 0 0
LAM RESEARCH CORP COM 512807108 263 1,424 SH   SOLE   1,424 0 0
LAUDER ESTEE COS INC CL A 518439104 11,261 104,425 SH   SOLE   104,425 0 0
LIFE STORAGE INC COM 53223X107 13,725 167,768 SH   SOLE   167,768 0 0
LIVANOVA PLC SHS G5509L101 858 12,245 SH   SOLE   12,245 0 0
LOWES COS INC COM 548661107 9,555 119,527 SH   SOLE   119,527 0 0
MACERICH CO COM 554382101 10,038 182,608 SH   SOLE   182,608 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2,818 39,650 SH   SOLE   39,650 0 0
MARKEL CORP COM 570535104 267 250 SH   SOLE   250 0 0
MASTERCARD INCORPORATED CL A 57636Q104 591 4,188 SH   SOLE   4,188 0 0
MERCK & CO INC COM 58933Y105 10,833 169,188 SH   SOLE   169,188 0 0
MICROSOFT CORP COM 594918104 13,624 182,900 SH   SOLE   182,900 0 0
MONSANTO CO NEW COM 61166W101 202 1,683 SH   SOLE   1,683 0 0
NORTHWESTERN CORP COM NEW 668074305 272 4,784 SH   SOLE   4,784 0 0
NOVARTIS A G SPONSORED ADR 66987V109 343 3,997 SH   SOLE   3,997 0 0
NOVO-NORDISK A S ADR 670100205 482 10,000 SH   SOLE   10,000 0 0
PEPSICO INC COM 713448108 9,957 89,357 SH   SOLE   89,357 0 0
PFIZER INC COM 717081103 2,499 69,998 SH   SOLE   69,998 0 0
PHILIP MORRIS INTL INC COM 718172109 1,071 9,652 SH   SOLE   9,652 0 0
PNC FINL SVCS GROUP INC COM 693475105 9,379 69,596 SH   SOLE   69,596 0 0
POTASH CORP SASK INC COM 73755L107 930 48,340 SH   SOLE   48,340 0 0
POWERSHARES ETF TR II DEV MKTS EX-US 73936T789 525 11,894 SH   SOLE   11,894 0 0
POWERSHARES ETF TR II EMER MRKT PORT 73936T763 363 17,025 SH   SOLE   17,025 0 0
PROCTER AND GAMBLE CO COM 742718109 3,809 41,866 SH   SOLE   41,866 0 0
PROLOGIS INC COM 74340W103 782 12,315 SH   SOLE   12,315 0 0
PUBLIC STORAGE COM 74460D109 594 2,775 SH   SOLE   2,775 0 0
QUALCOMM INC COM 747525103 314 6,062 SH   SOLE   6,062 0 0
REGENCY CTRS CORP COM 758849103 12,536 202,061 SH   SOLE   202,061 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 203 1,500 SH   SOLE   1,500 0 0
RENASANT CORP COM 75970E107 213 4,965 SH   SOLE   4,965 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 9,440 496,587 SH   SOLE   496,587 0 0
REXFORD INDL RLTY INC COM 76169C100 8,573 299,550 SH   SOLE   299,550 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 6,837 109,323 SH   SOLE   109,323 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 512 8,451 SH   SOLE   8,451 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 2,887 70,756 SH   SOLE   70,756 0 0
SALESFORCE COM INC COM 79466L302 2,174 23,275 SH   SOLE   23,275 0 0
SCHLUMBERGER LTD COM 806857108 11,602 166,317 SH   SOLE   166,317 0 0
SCHWAB CHARLES CORP NEW COM 808513105 12,467 285,023 SH   SOLE   285,023 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,281 18,038 SH   SOLE   18,038 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 1,219 22,972 SH   SOLE   22,972 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 1,268 22,329 SH   SOLE   22,329 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,275 21,581 SH   SOLE   21,581 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,107 42,806 SH   SOLE   42,806 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,281 15,676 SH   SOLE   15,676 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 223 6,925 SH   SOLE   6,925 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 1,204 17,582 SH   SOLE   17,582 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 1,186 13,165 SH   SOLE   13,165 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,201 22,246 SH   SOLE   22,246 0 0
SEMPRA ENERGY COM 816851109 11,452 100,342 SH   SOLE   100,342 0 0
SIMON PPTY GROUP INC NEW COM 828806109 42,370 263,153 SH   SOLE   263,153 0 0
SOLARCITY CORP NOTE 2.750%11/0 83416TAA8 169 170,000 PRN   SOLE   170,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 19,434 77,356 SH   SOLE   77,356 0 0
STARBUCKS CORP COM 855244109 10,248 190,810 SH   SOLE   190,810 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 6,329 259,182 SH   SOLE   259,182 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 10,828 57,232 SH   SOLE   57,232 0 0
TJX COS INC NEW COM 872540109 295 4,000 SH   SOLE   4,000 0 0
TRACTOR SUPPLY CO COM 892356106 6,535 103,251 SH   SOLE   103,251 0 0
TWITTER INC NOTE 1.000% 9/1 90184LAD4 9 10,000 PRN   SOLE   10,000 0 0
UDR INC COM 902653104 8,682 228,290 SH   SOLE   228,290 0 0
UNILEVER PLC SPON ADR NEW 904767704 592 10,210 SH   SOLE   10,210 0 0
UNITED TECHNOLOGIES CORP COM 913017109 321 2,767 SH   SOLE   2,767 0 0
UNITEDHEALTH GROUP INC COM 91324P102 9,104 46,487 SH   SOLE   46,487 0 0
URSTADT BIDDLE PPTYS INC PFD-G CV 6.75% 917286809 211 8,100 SH   SOLE   8,100 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 4,493 54,821 SH   SOLE   54,821 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 735 5,201 SH   SOLE   5,201 0 0
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 3,918 36,576 SH   SOLE   36,576 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,705 39,122 SH   SOLE   39,122 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 2,523 31,483 SH   SOLE   31,483 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 361 4,105 SH   SOLE   4,105 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 1,237 28,487 SH   SOLE   28,487 0 0
VENTAS INC COM 92276F100 361 5,545 SH   SOLE   5,545 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 1,529 30,897 SH   SOLE   30,897 0 0
VISA INC COM CL A 92826C839 12,363 117,472 SH   SOLE   117,472 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 328 11,531 SH   SOLE   11,531 0 0
VORNADO RLTY TR SH BEN INT 929042109 15,738 204,704 SH   SOLE   204,704 0 0
VULCAN MATLS CO COM 929160109 7,933 66,329 SH   SOLE   66,329 0 0
WAL-MART STORES INC COM 931142103 278 3,553 SH   SOLE   3,553 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 239 28,685 SH   SOLE   28,685 0 0
WASTE MGMT INC DEL COM 94106L109 6,128 78,293 SH   SOLE   78,293 0 0
WATERS CORP COM 941848103 1,197 6,667 SH   SOLE   6,667 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 10,637 335,136 SH   SOLE   335,136 0 0
WELLS FARGO CO NEW PERP PFD CNV A 949746804 2,051 1,560 SH   SOLE   1,560 0 0
WELLS FARGO CO NEW COM 949746101 6,971 126,392 SH   SOLE   126,392 0 0
WELLTOWER INC COM 95040Q104 386 5,490 SH   SOLE   5,490 0 0
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 2,403 46,864 SH   SOLE   46,864 0 0
WEYERHAEUSER CO COM 962166104 407 11,955 SH   SOLE   11,955 0 0
WHITESTONE REIT COM 966084204 10,681 818,486 SH   SOLE   818,486 0 0