The following table summarizes the Trust's segment reporting for the year ended September 30, 2014 (dollars in thousands):

	Multi-Family Real Estate			Other Real Estate			Total
Revenues:
Rental and other revenues from real estate properties	$	60,362		$	4,892		$	65,254
Other income		4			1,072			1,076

Total revenues		60,366			5,964			66,330
Expenses:
Operating expenses relating to real estate properties		32,347			4,720			37,067
Interest expense		16,212			4,458			20,670
Advisor's fee, related party		1,466			335			1,801
Property acquisition costs		2,542			—			2,542
General and administrative		5,887			437			6,324
Depreciation and amortization		13,828			1,748			15,576

Total expenses		72,282			11,698			83,980

Total revenues less total expenses		(11,916	)		(5,734	)		(17,650	)
Equity in earnings of unconsolidated ventures		—			19			19

Loss from continuing operations		(11,916	)		(5,715	)		(17,631	)
Plus: net loss attributable to non-controlling interests		759			5,953			6,712

Net (loss) income attributable to common shareholders before reconciling adjustments	$	(11,157	)	$	238			(10,919	)


Reconciling adjustments:
Other income								65
Discontinued operations								1,400

Net loss attributable to common shareholders							$	(9,454	)


Segment assets at September 30, 2014	$	569,357		$	163,246

The following table summarizes the Trust's segment reporting for the year ended September 30, 2013 (dollars in thousands):

	Multi-Family Real Estate			Other Real Estate			Total
Revenues:
Rental and other revenues from real estate properties	$	27,265		$	3,327		$	30,592
Other income		—			1,072			1,072

Total revenues		27,265			4,399			31,664
Expenses:
Operating expenses relating to real estate properties		13,570			2,839			16,409
Interest expense		8,193			3,785			11,978
Advisor's fee, related party		750			221			971
Property acquisition costs		2,637			—			2,637
General and administrative		5,490			372			5,862
Depreciation and amortization		6,119			975			7,094

Total expenses		36,759			8,192			44,951

Total revenues less total expenses		(9,494	)		(3,793	)		(13,287	)
Equity in earnings of unconsolidated ventures		—			198			198
Gain on sale of partnership interest		—			5,481			5,481

(Loss) income from continuing operations		(9,494	)		1,886			(7,608	)
Discontinued operations:
Gain on sale of real estate assets		—			769			769

Income from discontinued operations		—			769			769

Net (loss) income		(9,494	)		2,655			(6,839	)
Plus: net loss attributable to non-controlling interests		480			2,444			2,924

Net (loss) income attributable to common shareholders before reconciling adjustments	$	(9,014	)	$	5,099			(3,915	)


Reconciling adjustments:
Other income								141
Gain on sale of available-for-sale securities								530
Discontinued operations								8,257

Net income attributable to common shareholders							$	5,013


Segment assets at September 30, 2013	$	312,962		$	149,487

The following table summarizes the Trust's segment reporting for the year ended September 30, 2012 (dollars in thousands):

	Multi-Family Real Estate			Other Real Estate			Total
Revenues:
Rental and other revenues from real estate properties	$	5,464		$	3,211		$	8,675
Other income		—			878			878

Total revenues		5,464			4,089			9,553
Expenses:
Operating expenses relating to real estate properties		2,644			3,398			6,042
Interest expense		1,629			2,149			3,778
Advisor's fee, related party		230			190			420
Property acquisition costs		2,407			—			2,407
General and administrative		1,069			1,670			2,739
Depreciation and amortization		1,276			728			2,004

Total expenses		9,255			8,135			17,390

Total revenues less total expenses		(3,791	)		(4,046	)		(7,837	)
Equity in (loss) earnings of unconsolidated ventures		(121	)		1,086			965

Loss from continuing operations		(3,912	)		(2,960	)		(6,872	)
Discontinued operations:
Gain on sale of real estate assets		—			792			792

Income from discontinued operations		—			792			792

Net loss		(3,912	)		(2,168	)		(6,080	)
Plus: net loss attributable to non-controlling interests		461			2,419			2,880

Net (loss) income attributable to common shareholders	$	(3,451	)	$	251			(3,200	)


Reconciling adjustments:								340
Other income								605
Gain on sale of available-for-sale securities								6,685

Discontinued operations							$	4,430


Segment assets at September 30, 2012	$	121,153		$	151,420