CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Cash flows from operating activities:
Net (loss) income	$ (2,182)	$ 3,461
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Recovery of previously provided allowances	(422)	(7)
Amortization and depreciation	1,683	264
Amortization of deferred fee income	(333)	(320)
Amortization of restricted stock	193	210
Gain on sale of real estate assets from discontinued operations		(490)
Gain on sale of available-for-sale securities		18
Gain on sale of loan		(3,192)
Equity in (loss) earnings of unconsolidated joint ventures	(61)	75
Distribution of earnings of unconsolidated joint ventures	45	123
Change in straight-line rent	3	12
Increases and decreases from changes in other assets and liabilities:
(Increase) decrease in interest and dividends receivable	(44)	243
(Increase) decrease in prepaid expenses	(406)	178
Decrease in prepaid interest	814
Increase (decrease) in accounts payable and accrued liabilities	376	(204)
(Increase) decrease in deferred costs	(152)	13
Increase (decrease) in security deposits and other receivable	567	(15)
Other	214	(2)
Net cash provided by operating activities	295	367
Cash flows from investing activities:
Collections from real estate loans	8,657	51,682
Additions to real estate loans	(42,818)	(25,457)
Loan loss recoveries	422	7
Additions to real estate properties	(57,400)
Net costs capitalized to real estate owned	(8,791)	(792)
Net change in restricted cash - construction holdbacks	5,655
Collection of loan fees	877	625
Proceeds from sale of real estate owned	6	507
Proceeds from sale of available-for-sale securities		556
Purchase of available for sale securities		(1,030)
Distributions of capital from unconsolidated joint ventures		3,035
Net cash (used in) provided by investing activities	(93,392)	29,133
Cash flows from financing activities:
Increase in mortgages payable	46,010	4,282
Mortgage principal payments	(484)	(70)
Increase in deferred borrowing costs	(558)	(381)
Capital contributions from non-controlling interests	2,894
Capital distribution to non-controlling interests	(397)
Repurchase of shares of beneficial interest		(767)
Net cash provided by financing activities	47,465	3,064
Net (decrease) increase in cash and cash equivalents	(45,632)	32,564
Cash and cash equivalents at beginning of period	78,245	44,025
Cash and cash equivalents at end of period	32,613	76,589
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	2,316	109
Taxes paid	$ 3