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
AMERICAN CAMPUS CMNTYS INC COM 024835100 33 788 SH   DFND 1 788 0 0
BLUEROCK RESIDENTIAL GRW REI COM CL A 09627J102 34 3,677 SH   DFND 1 3,677 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 26 1,962 SH   DFND 1 1,962 0 0
CBL & ASSOC PPTYS INC COM 124830100 11 5,293 SH   DFND 1 5,293 0 0
CITY OFFICE REIT INC COM 178587101 31 2,997 SH   DFND 1 2,997 0 0
DIGITAL RLTY TR INC COM 253868103 36 330 SH   DFND 1 330 0 0
EPR PPTYS COM SH BEN INT 26884U109 47 726 SH   DFND 1 726 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 27 1,682 SH   DFND 1 1,682 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 32 1,310 SH   DFND 1 1,310 0 0
ISHARES TR CORE INTL AGGR 46435G672 54 1,024 SH   DFND 1 1,024 0 0
JERNIGAN CAP INC COM 476405105 29 1,429 SH   DFND 1 1,429 0 0
KIMCO RLTY CORP COM 49446R109 30 1,990 SH   DFND 1 1,990 0 0
LEXINGTON REALTY TRUST COM 529043101 32 3,859 SH   DFND 1 3,859 0 0
LIFE STORAGE INC COM 53223X107 42 441 SH   DFND 1 441 0 0
MID AMER APT CMNTYS INC COM 59522J103 32 329 SH   DFND 1 329 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 51 1,435 SH   DFND 1 1,435 0 0
RETAIL VALUE INC COM 76133Q102 9 331 SH   DFND 1 331 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 38 566 SH   DFND 1 566 0 0
SPDR INDEX SHS FDS PORTFOLIO EMG MK 78463X509 36 1,098 SH   DFND 1 1,098 0 0
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 33 798 SH   DFND 1 798 0 0
SPDR INDEX SHS FDS PORTFOLIO DEVLPD 78463X889 73 2,729 SH   DFND 1 2,729 0 0
SPDR SERIES TRUST BLOMBRG BRC TIPS 78464A656 58 1,061 SH   DFND 1 1,061 0 0
SPDR SERIES TRUST PORTFOLIO LR ETF 78464A854 226 7,714 SH   DFND 1 7,714 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 9 1,215 SH   DFND 1 1,215 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 29 2,415 SH   DFND 1 2,415 0 0
SPIRIT MTA REIT COM SHS BEN IN 84861U105 4 464 SH   DFND 1 464 0 0
STAG INDL INC COM 85254J102 35 1,392 SH   DFND 1 1,392 0 0
VEREIT INC COM 92339V100 37 5,088 SH   DFND 1 5,088 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 22 4,369 SH   DFND 1 4,369 0 0
XENIA HOTELS & RESORTS INC COM 984017103 31 1,783 SH   DFND 1 1,783 0 0