Segment Reporting (Tables)

3 Months Ended

Dec. 31, 2012

Segment Reporting

Schedule of segment reporting

The following table summarizes our segment reporting for the periods indicated (dollars in thousands):

	Three Months Ended December 31, 2012
	Loan and Investment		Multi- Family Real Estate			Other Real Estate			Total
Rental and other revenues from real estate properties	—		$	4,950		$	690		$	5,640
Interest and loan fee income	$	1,879	––			––			1,879
Other income	442					290			732
Total revenues	2,321		4,950			980			8,251
Interest expense	357		1,487			1,102			2,946
Advisors fee, related party	186		134			54			374
General and administrative expenses	1,285		396			182			1,863
Property acquisition costs	—		878			—			878
Operating expenses relating to real estate properties	—		2,300			846			3,146
Depreciation and amortization	—		1,104			183			1,287
Total expenses	1,828		6,299			2,367			10,494
Total revenues less total expenses	493		(1,349		)	(1,387		)	(2,243		)
Equity in earnings of unconsolidated ventures	—		—			61			61
Income (loss) from continuing operations	493		(1,349		)	(1,326		)	(2,182		)
Plus: net loss attributable to non-controlling interests	—		111			767			878
Net income (loss) attributable to common shareholders	$	493	$	(1,238	)	$	(559	)	$	(1,304	)
Segment assets at December 31, 2012	$	102,255	$	183,485		$	146,603		$	432,343

The following table summarizes our segment reporting for the periods indicated (dollars in thousands):

	Three Months Ended December 31, 2011
	Loan and Investment			Real Estate			Total
Interest and loan fee income	$	2,252		—			$	2,252
Rental and other revenues from real estate properties	––			$	768		768
Other income	134			––			134
Total revenues	2,386			768			3,154
Interest expense	275			192			467
Advisors fees, related party	84			87			171
General and administrative and other expenses	1,426			248			1,674
Operating expenses related to real estate properties	—			786			786
Depreciation and amortization	—			184			184
Total expenses	1,785			1,497			3,282
Total revenues less total expenses	601			(729		)	(128		)
Equity in (loss) earnings of unconsolidated ventures	(142		)	67			(75		)
Loss on sale of available-for-sale securities	(18		)				(18		)
Gain on sale of loan	3,192			—			3,192
Income (loss) from continuing operations	3,633			(662		)	2,971
Discontinued operations:
Gain on sale of real estate assets	—			490			490
Net income (loss)	3,633			(172		)	3,461
Plus net loss attributable to non-controlling interests				413			413
Net income attributable to common shareholders	3,633			241			3,874
Segment assets at December 31, 2011	$	129,867		$	68,435		$	198,302