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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net income (loss) $ 32,302 $ (2,773)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,604 6,351
Amortization of restricted stock 324 230
Gain on sale of real estate (35,838) (609)
Loss on extinguishment of debt 799 0
Increases and decreases from changes in other assets and liabilities:    
Change in straight-line rent 22 62
Decrease in interest receivable 2,362 0
Decrease (increase) in deposits and escrows 688 (1,610)
Decrease in other assets 849 981
Decrease in accounts payable and accrued liabilities (260) (591)
Net cash provided by operating activities 7,808 1,917
Cash flows from investing activities:    
Collections from real estate loans 13,600 0
Additions to real estate properties (20,335) (10,373)
Net costs capitalized to real estate properties (2,971) (15,398)
Proceeds from the sale of real estate properties 127,859 609
Investments in unconsolidated joint ventures (14,335) 0
Net cash provided by (used in) investing activities 104,518 (26,515)
Cash flows from financing activities:    
Proceeds from mortgages payable 9,369 20,531
Increase in other borrowed funds 0 14,001
Mortgage payoffs (78,417) (5,613)
Mortgage amortization (1,206) (1,205)
Increase in deferred borrowing costs (291) (1,262)
Capital contributions from non-controlling interests 3,786 3,531
Capital distribution to non-controlling interests (21,726) (2,308)
Proceeds from sale of New Market Tax Credits 0 2,746
Repurchase of shares of beneficial interest (9) 0
Net cash (used in) provided by financing activities (88,494) 30,421
Net increase in cash and cash equivalents 23,832 5,823
Cash and cash equivalents at beginning of period 27,399 15,556
Cash and cash equivalents at end of period 51,231 21,379
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest, net of capitalized interest of $84 and $117 respectively 6,372 7,221
Taxes paid 0 11
Acquisition of real estate through assumption of debt 27,638 16,051
RBHTRB Newark Holdings LLC | Variable Interest Entity, Primary Beneficiary    
Cash flows from investing activities:    
Net change in restricted cash 0 (1,952)
Multi-Family Real Estate | Variable Interest Entity, Primary Beneficiary    
Cash flows from investing activities:    
Net change in restricted cash $ 700 $ 599