Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2012 item	Dec. 31, 2011	Sep. 30, 2012
Segment Reporting
Number of reportable segments	3
Revenues:
Rental and other revenues from real estate properties	$ 5,640	$ 768
Interest and loan fee income	1,879	2,252
Other income	732	134
Total revenues	8,251	3,154
Expenses:
Interest expense	2,946	467
Advisor's fees, related party	374	171
General and administrative expenses	1,863	1,674
Property acquisition costs	878
Operating expenses relating to real estate properties	3,146	786
Depreciation and amortization	1,287	184
Total expenses	10,494	3,282
Total revenues less total expenses	(2,243)	(128)
Equity in earnings (loss) of unconsolidated ventures	61	(75)
Loss on sale of available-for-sale securities		(18)
Gain on sale of loan		3,192
(Loss) income from continuing operations	(2,182)	2,971
Discontinued operations:
Gain on sale of real estate assets		490
Net (loss) income	(2,182)	3,461
Plus: net loss attributable to non-controlling interests	878	413
Net (loss) income attributable to common shareholders	(1,304)	3,874
Segment assets	432,343	198,302	385,956
Loan and Investment
Revenues:
Interest and loan fee income	1,879	2,252
Other income	442	134
Total revenues	2,321	2,386
Expenses:
Interest expense	357	275
Advisor's fees, related party	186	84
General and administrative expenses	1,285	1,426
Total expenses	1,828	1,785
Total revenues less total expenses	493	601
Equity in earnings (loss) of unconsolidated ventures		(142)
Loss on sale of available-for-sale securities		(18)
Gain on sale of loan		3,192
(Loss) income from continuing operations	493	3,633
Discontinued operations:
Net (loss) income		3,633
Net (loss) income attributable to common shareholders	493	3,633
Segment assets	102,255	129,867
Real Estate
Revenues:
Rental and other revenues from real estate properties		768
Total revenues		768
Expenses:
Interest expense		192
Advisor's fees, related party		87
General and administrative expenses		248
Operating expenses relating to real estate properties		786
Depreciation and amortization		184
Total expenses		1,497
Total revenues less total expenses		(729)
Equity in earnings (loss) of unconsolidated ventures		67
(Loss) income from continuing operations		(662)
Discontinued operations:
Gain on sale of real estate assets		490
Net (loss) income		(172)
Plus: net loss attributable to non-controlling interests		413
Net (loss) income attributable to common shareholders		241
Segment assets		68,435
Multi-Family Real Estate
Revenues:
Rental and other revenues from real estate properties	4,950
Total revenues	4,950
Expenses:
Interest expense	1,487
Advisor's fees, related party	134
General and administrative expenses	396
Property acquisition costs	878
Operating expenses relating to real estate properties	2,300
Depreciation and amortization	1,104
Total expenses	6,299
Total revenues less total expenses	(1,349)
(Loss) income from continuing operations	(1,349)
Discontinued operations:
Plus: net loss attributable to non-controlling interests	111
Net (loss) income attributable to common shareholders	(1,238)
Segment assets	183,485
Other Real Estate
Revenues:
Rental and other revenues from real estate properties	690
Other income	290
Total revenues	980
Expenses:
Interest expense	1,102
Advisor's fees, related party	54
General and administrative expenses	182
Operating expenses relating to real estate properties	846
Depreciation and amortization	183
Total expenses	2,367
Total revenues less total expenses	(1,387)
Equity in earnings (loss) of unconsolidated ventures	61
(Loss) income from continuing operations	(1,326)
Discontinued operations:
Plus: net loss attributable to non-controlling interests	767
Net (loss) income attributable to common shareholders	(559)
Segment assets	$ 146,603