Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013 item	Jun. 30, 2012	Sep. 30, 2012
Segment Reporting
Number of reportable segments			3
Revenues:
Rental and other revenue from real estate properties	$ 8,250	$ 2,668	$ 20,756	$ 4,455
Interest and fees on real estate loans	2,921	2,562	7,766	7,016
Other income	867	325	1,913	925
Total revenues	12,038	5,555	30,435	12,396
Expenses:
Interest expense	3,127	1,416	8,734	2,758
Advisor's fees, related party	497	333	1,314	777
General and administrative	1,943	1,734	5,527	5,414
Property acquisition costs	767	471	1,805	2,264
Operating expenses relating to real estate properties	4,595	1,733	11,158	3,478
Depreciation and amortization	1,832	1,077	4,737	1,441
Total expenses	12,761	6,764	33,275	16,132
Total revenues less total expenses	(723)	(1,209)	(2,840)	(3,736)
Equity in earnings (loss) of unconsolidated ventures	54	20	183	(95)
Gain on sale of available- for-sale securities		96	482	420
Gain on sale of loan				3,192
Loss from continuing operations	(669)	(1,093)	(2,175)	(219)
Discontinued operations:
Gain on sale of real estate assets	509	302	509	792
Net (loss) income	(160)	(791)	(1,666)	573
Plus: net loss attributable to non-controlling interests	681	649	1,893	2,131
Net income (loss) attributable to common shareholders	521	(142)	227	2,704
Segment assets	501,830	329,753	501,830	329,753	385,956
Loan and Investment
Revenues:
Interest and fees on real estate loans	2,921	2,562	7,766	7,016
Other income	632	33	1,105	340
Total revenues	3,553	2,595	8,871	7,356
Expenses:
Interest expense	321	282	1,030	611
Advisor's fees, related party	231	201	657	512
General and administrative	1,163	1,292	3,615	3,110
Total expenses	1,715	1,775	5,302	4,233
Total revenues less total expenses	1,838	820	3,569	3,123
Equity in earnings (loss) of unconsolidated ventures				(136)
Gain on sale of available- for-sale securities		96	482	420
Gain on sale of loan				3,192
Loss from continuing operations	1,838	916	4,051	6,599
Discontinued operations:
Net (loss) income	1,838	916	4,051	6,599
Net income (loss) attributable to common shareholders	1,838	916	4,051	6,599
Segment assets	88,290	106,765	88,290	106,765
Multi-Family Real Estate
Revenues:
Rental and other revenue from real estate properties	7,515	1,943	18,580	2,121
Total revenues	7,515	1,943	18,580	2,121
Expenses:
Interest expense	1,970	561	5,033	700
Advisor's fees, related party	202	89	502	126
General and administrative	583	261	1,365	813
Property acquisition costs	767	471	1,805	2,264
Operating expenses relating to real estate properties	3,942	865	9,234	935
Depreciation and amortization	1,648	894	4,186	894
Total expenses	9,112	3,141	22,125	5,732
Total revenues less total expenses	(1,597)	(1,198)	(3,545)	(3,611)
Equity in earnings (loss) of unconsolidated ventures				(129)
Loss from continuing operations	(1,597)	(1,198)	(3,545)	(3,740)
Discontinued operations:
Net (loss) income	(1,597)	(1,198)	(3,545)	(3,740)
Plus: net loss attributable to non-controlling interests	137	175	227	522
Net income (loss) attributable to common shareholders	(1,460)	(1,023)	(3,318)	(3,218)
Segment assets	262,662	113,879	262,662	113,879
Other Real Estate
Revenues:
Rental and other revenue from real estate properties	735	725	2,176	2,334
Other income	235	292	808	585
Total revenues	970	1,017	2,984	2,919
Expenses:
Interest expense	836	573	2,671	1,447
Advisor's fees, related party	64	43	155	139
General and administrative	197	181	547	1,491
Operating expenses relating to real estate properties	653	868	1,924	2,543
Depreciation and amortization	184	183	551	547
Total expenses	1,934	1,848	5,848	6,167
Total revenues less total expenses	(964)	(831)	(2,864)	(3,248)
Equity in earnings (loss) of unconsolidated ventures	54	20	183	170
Loss from continuing operations	(910)	(811)	(2,681)	(3,078)
Discontinued operations:
Gain on sale of real estate assets	509	302	509	792
Net (loss) income	(401)	(509)	(2,172)	(2,286)
Plus: net loss attributable to non-controlling interests	544	474	1,666	1,609
Net income (loss) attributable to common shareholders	143	(35)	(506)	(677)
Segment assets	$ 150,878	$ 109,109	$ 150,878	$ 109,109