Segment Reporting (Details) (USD $)	3 Months Ended								12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2014 item	Sep. 30, 2013	Sep. 30, 2012
SEGMENT REPORTING
Number of reportable segments									2
Revenues:
Rental and other revenues from real estate properties									$ 65,254,000	$ 30,592,000	$ 8,675,000
Other income									1,141,000	1,213,000	1,218,000
Total revenues	19,399,000	17,766,000	15,152,000	14,078,000	10,158,000	8,517,000	7,179,000	5,951,000	66,395,000	31,805,000	9,893,000
Expenses:
Operating expenses relating to real estate properties									37,067,000	16,409,000	6,042,000
Interest expense									20,670,000	11,978,000	3,778,000
Advisor's fee, related party									1,801,000	971,000	420,000
Property acquisition costs									2,542,000	2,637,000	2,407,000
General and administrative									6,324,000	5,862,000	2,739,000
Depreciation and amortization									15,576,000	7,094,000	2,004,000
Total expenses	24,312,000	21,959,000	19,028,000	18,681,000	13,766,000	12,029,000	9,327,000	9,829,000	83,980,000	44,951,000	17,390,000
Total revenues less total expenses	(4,913,000)	(4,193,000)	(3,876,000)	(4,603,000)	(3,608,000)	(3,512,000)	(2,148,000)	(3,878,000)	(17,585,000)	(13,146,000)	(7,497,000)
Equity in earnings of unconsolidated ventures	10,000	5,000	4,000		15,000	54,000	68,000	61,000	19,000	198,000	965,000
Gain on sale of available-for-sale securities					48,000		482,000			530,000	605,000
Gain on sale of partnership interest					5,481,000					5,481,000
Loss from continuing operations	(4,903,000)	(4,188,000)	(3,872,000)	(4,603,000)	1,936,000	(3,458,000)	(1,598,000)	(3,817,000)	(17,566,000)	(6,937,000)	(5,927,000)
Discontinued operations:
Discontinued operations	2,000	185,000	361,000	852,000	1,819,000	3,298,000	2,274,000	1,635,000	1,400,000	9,026,000	7,477,000
Net (loss) income	(4,901,000)	(4,003,000)	(3,511,000)	(3,751,000)	3,755,000	(160,000)	676,000	(2,182,000)	(16,166,000)	2,089,000	1,550,000
Plus: net loss attributable to non-controlling interests	1,103,000	3,672,000	919,000	1,018,000	1,031,000	681,000	334,000	878,000	6,712,000	2,924,000	2,880,000
Net (loss) income attributable to common shareholders	(3,798,000)	(331,000)	(2,592,000)	(2,733,000)	4,786,000	521,000	1,010,000	(1,304,000)	(9,454,000)	5,013,000	4,430,000
Segment assets	734,620,000				549,491,000				734,620,000	549,491,000
Real estate assets
Discontinued operations:
Gain on sale of assets					260,000	509,000				769,000	792,000
Before reconciling adjustments
Revenues:
Other income									1,076,000	1,072,000	878,000
Total revenues									66,330,000	31,664,000	9,553,000
Expenses:
Total revenues less total expenses									(17,650,000)	(13,287,000)	(7,837,000)
Loss from continuing operations									(17,631,000)	(7,608,000)	(6,872,000)
Discontinued operations:
Discontinued operations										769,000	792,000
Net (loss) income										(6,839,000)	(6,080,000)
Net (loss) income attributable to common shareholders									(10,919,000)	(3,915,000)	(3,200,000)
Reconciling adjustments
Revenues:
Other income									65,000	141,000	605,000
Expenses:
Gain on sale of available-for-sale securities										530,000	6,685,000
Discontinued operations:
Discontinued operations									1,400,000	8,257,000	4,430,000
Multi-Family Real Estate
Revenues:
Rental and other revenues from real estate properties									60,362,000	27,265,000	5,464,000
Other income									4,000
Total revenues									60,366,000	27,265,000	5,464,000
Expenses:
Operating expenses relating to real estate properties									32,347,000	13,570,000	2,644,000
Interest expense									16,212,000	8,193,000	1,629,000
Advisor's fee, related party									1,466,000	750,000	230,000
Property acquisition costs									2,542,000	2,637,000	2,407,000
General and administrative									5,887,000	5,490,000	1,069,000
Depreciation and amortization									13,828,000	6,119,000	1,276,000
Total expenses									72,282,000	36,759,000	9,255,000
Total revenues less total expenses									(11,916,000)	(9,494,000)	(3,791,000)
Equity in earnings of unconsolidated ventures											(121,000)
Loss from continuing operations									(11,916,000)	(9,494,000)	(3,912,000)
Discontinued operations:
Net (loss) income										(9,494,000)	(3,912,000)
Plus: net loss attributable to non-controlling interests									759,000	480,000	461,000
Net (loss) income attributable to common shareholders									(11,157,000)	(9,014,000)	(3,451,000)
Segment assets	569,357,000				312,962,000				569,357,000	312,962,000	121,153,000
Other Real Estate
Revenues:
Rental and other revenues from real estate properties									4,892,000	3,327,000	3,211,000
Other income									1,072,000	1,072,000	878,000
Total revenues									5,964,000	4,399,000	4,089,000
Expenses:
Operating expenses relating to real estate properties									4,720,000	2,839,000	3,398,000
Interest expense									4,458,000	3,785,000	2,149,000
Advisor's fee, related party									335,000	221,000	190,000
General and administrative									437,000	372,000	1,670,000
Depreciation and amortization									1,748,000	975,000	728,000
Total expenses									11,698,000	8,192,000	8,135,000
Total revenues less total expenses									(5,734,000)	(3,793,000)	(4,046,000)
Equity in earnings of unconsolidated ventures									19,000	198,000	1,086,000
Gain on sale of partnership interest										5,481,000
Loss from continuing operations									(5,715,000)	1,886,000	(2,960,000)
Discontinued operations:
Discontinued operations										769,000	792,000
Net (loss) income										2,655,000	(2,168,000)
Plus: net loss attributable to non-controlling interests									5,953,000	2,444,000	2,419,000
Net (loss) income attributable to common shareholders									238,000	5,099,000	251,000
Segment assets	163,246,000				149,487,000				163,246,000	149,487,000	151,420,000
Other Real Estate | Real estate assets
Discontinued operations:
Gain on sale of assets										$ 769,000	$ 792,000