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
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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
Aetna Inc Common Stock 00817Y108 116 645 SH   OTR   0 645 0
Aflac Inc Common Stock 001055102 314 3,580 SH   OTR   0 3,580 0
Alexandria Real Estate Eqtys. REITS 015271109 1,038 7,948 SH   SOLE   7,948 0 0
Alleghany Corp Common Stock 017175100 107 180 SH   OTR   0 180 0
American Campus Communities REITS 024835100 564 13,751 SH   SOLE   13,751 0 0
American Express Co Common Stock 025816109 406 4,093 SH   OTR   0 4,093 0
Apache Corp Common Stock 037411105 91 2,165 SH   OTR   0 2,165 0
Apartment Investmnt & Managemt REITS 03748R101 993 22,710 SH   SOLE   22,710 0 0
AT&T Inc Common Stock 00206R102 294 7,560 SH   OTR   0 7,560 0
AutoZone Inc Common Stock 053332102 413 580 SH   OTR   0 580 0
AvalonBay Communities, Inc. REITS 053484101 4,415 24,749 SH   SOLE   24,749 0 0
Berkshire Hathaway Inc Common Stock 084670702 461 2,324 SH   OTR   0 2,324 0
Boston Properties, Inc. REITS 101121101 4,041 31,077 SH   SOLE   31,077 0 0
Brandywine Realty Trust REITS 105368203 146 8,000 SH   SOLE   8,000 0 0
Brixmor Property Group, Inc. REITS 11120U105 485 26,000 SH   SOLE   26,000 0 0
Camden Property Trust REITS 133131102 852 9,255 SH   SOLE   9,255 0 0
CBL & Associates Properties REITS 124830100 776 137,124 SH   SOLE   137,124 0 0
Chevron Corp Common Stock 166764100 279 2,230 SH   OTR   0 2,230 0
Citigroup Inc Common Stock 172967424 369 4,955 SH   OTR   0 4,955 0
City Office REIT, Inc. REITS 178587101 226 17,400 SH   SOLE   17,400 0 0
CoreCivic, Inc. REITS 21871N101 87 3,851 SH   SOLE   3,851 0 0
CorEnergy Infrastructure Trust REITS 21870U502 169 4,422 SH   SOLE   4,422 0 0
Corporate Office Properties REITS 22002T108 449 15,372 SH   SOLE   15,372 0 0
Crown Castle Intern'l Corp. REITS 22822V101 110 992 SH   SOLE   992 0 0
CubeSmart REITS 229663109 3,032 104,835 SH   SOLE   104,835 0 0
DCT Industrial Trust, Inc. REITS 233153204 66 1,131 SH   SOLE   1,131 0 0
DDR Corp. REITS 23317H102 681 75,971 SH   SOLE   75,971 0 0
DiamondRock Hospitality Co. REITS 252784301 3 282 SH   SOLE   282 0 0
Digital Realty Trust, Inc. REITS 253868103 312 2,737 SH   SOLE   2,737 0 0
Douglas Emmett, Inc. REITS 25960P109 427 10,400 SH   SOLE   10,400 0 0
Duke Realty Corp. REITS 264411505 836 30,718 SH   SOLE   30,718 0 0
EastGroup Properties, Inc. REITS 277276101 111 1,259 SH   SOLE   1,259 0 0
Empire State Realty Trust Inc. REITS 292104106 215 10,494 SH   SOLE   10,494 0 0
Equity Commonwealth REITS 294628102 169 5,538 SH   SOLE   5,538 0 0
Equity LifeStyle Properties, I REITS 29472R108 2,103 23,624 SH   SOLE   23,624 0 0
Equity Residential Pptys REITS 29476L107 4,121 64,615 SH   SOLE   64,615 0 0
Essex Property Trust, Inc. REITS 297178105 1,183 4,900 SH   SOLE   4,900 0 0
Extra Space Storage, Inc. REITS 30225T102 2,790 31,909 SH   SOLE   31,909 0 0
ExxonMobil Corp Common Stock 30231G102 183 2,185 SH   OTR   0 2,185 0
Federal Realty Investment REITS 313747206 465 3,502 SH   SOLE   3,502 0 0
First Industrial Realty Trust REITS 32054K103 286 9,096 SH   SOLE   9,096 0 0
FIVE OAKS INVESTMENT CORP REITS 33830W106 51 12,687 SH   SOLE   12,687 0 0
Forest City Realty Trust, Inc. REITS 345605109 879 36,486 SH   SOLE   36,486 0 0
Franklin Street Properties Cor REITS 35471R106 114 10,649 SH   SOLE   10,649 0 0
GGP, Inc. REITS 36174X101 5,998 256,434 SH   SOLE   256,434 0 0
HCP, Inc. REITS 40414L109 2,240 85,881 SH   SOLE   85,881 0 0
Healthcare Trust of America REITS 42225P501 84 2,788 SH   SOLE   2,788 0 0
Hospitality Properties Trust REITS 44106M102 639 21,406 SH   SOLE   21,406 0 0
Host Hotels & Resorts Inc. REITS 44107P104 1,323 66,674 SH   SOLE   66,674 0 0
HYSTER YALE MATERIALS Common Stock 449172105 166 1,945 SH   OTR   0 1,945 0
Intel Corp Common Stock 458140100 343 7,435 SH   OTR   0 7,435 0
JBG SMITH Properties REITS 46590V100 564 16,253 SH   SOLE   16,253 0 0
Kilroy Realty Corporation REITS 49427F108 143 1,915 SH   SOLE   1,915 0 0
Kimco Realty Corp. REITS 49446R109 376 20,735 SH   SOLE   20,735 0 0
Kite Realty Group Trust REITS 49803T300 180 9,159 SH   SOLE   9,159 0 0
LaSalle Hotel Properties REITS 517942108 711 25,324 SH   SOLE   25,324 0 0
Liberty Property Trust REITS 531172104 166 3,850 SH   SOLE   3,850 0 0
Life Storage, Inc. REITS 53223X107 2,985 33,513 SH   SOLE   33,513 0 0
LTC Properties, Inc. REITS 502175102 37 843 SH   SOLE   843 0 0
Macerich Co. REITS 554382101 4,655 70,878 SH   SOLE   70,878 0 0
Mack-Cali Realty Corp. REITS 554489104 254 11,785 SH   SOLE   11,785 0 0
Macy's Inc Common Stock 55616P104 242 9,620 SH   OTR   0 9,620 0
Microsoft Corp Common Stock 594918104 391 4,575 SH   OTR   0 4,575 0
Mid-America Apt. Communities REITS 59522J103 1,540 15,318 SH   SOLE   15,318 0 0
National Oilwell Varco Inc Common Stock 637071101 219 6,081 SH   OTR   0 6,081 0
New York REIT, Inc. REITS 64976L109 127 32,437 SH   SOLE   32,437 0 0
NOW Inc Common Stock 67011P100 138 12,556 SH   OTR   0 12,556 0
Omega Healthcare Investors Inc REITS 681936100 1,639 59,528 SH   SOLE   59,528 0 0
One Liberty Properties, Inc. REITS 682406103 827 31,916 SH   SOLE   31,916 0 0
OUTFRONT Media Inc REITS 69007J106 325 14,000 SH   SOLE   14,000 0 0
OWENS REALTY MORTGAGE INC REITS 690828108 221 13,779 SH   SOLE   13,779 0 0
Paramount Group, Inc. REITS 69924R108 216 13,648 SH   SOLE   13,648 0 0
Pennsylvania REIT REITS 709102107 318 26,718 SH   SOLE   26,718 0 0
Piedmont Office Realty Trust REITS 720190206 399 20,372 SH   SOLE   20,372 0 0
Prologis, Inc. REITS 74340W103 1,452 22,511 SH   SOLE   22,511 0 0
Public Storage REITS 74460D109 6,326 30,266 SH   SOLE   30,266 0 0
Quality Care Properties REITS 747545101 297 21,494 SH   SOLE   21,494 0 0
Ramco-Gershenson Properties REITS 751452202 171 11,593 SH   SOLE   11,593 0 0
Regency Centers Corp. REITS 758849103 490 7,082 SH   SOLE   7,082 0 0
Retail Properties of America REITS 76131V202 539 40,113 SH   SOLE   40,113 0 0
RLJ Lodging Trust REITS 74965L101 439 20,000 SH   SOLE   20,000 0 0
Sabra Health Care REIT, Inc. REITS 78573L106 1,800 95,918 SH   SOLE   95,918 0 0
Select Income REIT REITS 81618T100 2,117 84,240 SH   SOLE   84,240 0 0
Senior Housing Properties Trus REITS 81721M109 519 27,115 SH   SOLE   27,115 0 0
Simon Property Group, Inc. REITS 828806109 10,727 62,460 SH   SOLE   62,460 0 0
SL Green Realty Corp. REITS 78440X101 894 8,859 SH   SOLE   8,859 0 0
Spirit Realty Capital, Inc. REITS 84860W102 321 37,425 SH   SOLE   37,425 0 0
STORE Capital Corp. REITS 862121100 401 15,400 SH   SOLE   15,400 0 0
Stryker Corporation Common Stock 863667101 154 995 SH   OTR   0 995 0
Sun Communities, Inc. REITS 866674104 1,104 11,900 SH   SOLE   11,900 0 0
Sunstone Hotel Investors, Inc. REITS 867892101 275 16,616 SH   SOLE   16,616 0 0
Tanger Factory Outlet Ctrs Inc REITS 875465106 3,786 142,799 SH   SOLE   142,799 0 0
Taubman Centers, Inc. REITS 876664103 3,218 49,189 SH   SOLE   49,189 0 0
Tier REIT, Inc. REITS 88650V208 525 25,738 SH   SOLE   25,738 0 0
UDR, Inc. REITS 902653104 338 8,770 SH   SOLE   8,770 0 0
Uniti Group, Inc. REITS 91325V108 3,303 185,655 SH   SOLE   185,655 0 0
Valmont Industries Inc Common Stock 920253101 137 826 SH   OTR   0 826 0
Varex Imaging Corp Common Stock 92214X106 261 6,488 SH   OTR   0 6,488 0
Varian Medical Systems Inc Common Stock 92220P105 104 940 SH   OTR   0 940 0
Ventas, Inc. REITS 92276F100 2,829 47,141 SH   SOLE   47,141 0 0
VEREIT, Inc. REITS 92339V100 93 12,000 SH   SOLE   12,000 0 0
Vornado Realty Trust REITS 929042109 2,620 33,506 SH   SOLE   33,506 0 0
Wal-Mart Stores Inc Common Stock 931142103 236 2,388 SH   OTR   0 2,388 0
Washington Prime Grp,Inc. REITS 93964W108 561 78,861 SH   SOLE   78,861 0 0
Washington Real Estate Invmt REITS 939653101 1 32 SH   SOLE   32 0 0
Weingarten Realty Investors REITS 948741103 442 13,456 SH   SOLE   13,456 0 0
Wells Fargo & Co Common Stock 949746101 429 7,070 SH   OTR   0 7,070 0
Welltower, Inc. REITS 95040Q104 3,353 52,587 SH   SOLE   52,587 0 0