CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Cash flows from operating activities:
Net (loss) income	$ (1,666)	$ 573
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Recovery of previously provided allowances	(1,022)	(19)
Depreciation and amortization	5,991	1,912
Amortization of deferred fee income	(1,317)	(1,364)
Amortization of restricted stock	511	574
Gain on sale of real estate assets	(509)	(792)
Gain on sale of available-for-sale securities	(482)	(420)
Gain on sale of loan		(3,192)
Equity in (earnings) loss of unconsolidated joint ventures	(183)	95
Distribution of earnings of unconsolidated joint ventures	150	525
Change in straight line rent	11	20
Increases and decreases from changes in other assets and liabilities:
Increase in interest and dividends receivable	(148)	(66)
Increase in prepaid expenses	(444)	(57)
Decrease (increase) in prepaid interest	2,018	(1,853)
Decrease in accounts payable and accrued liabilities	704	2,031
Increase in deferred costs	(456)	(243)
Increase in security deposits and other receivables	(1,657)	(4,234)
Other	119	(5)
Net cash provided by (used in) operating activities	1,620	(6,515)
Cash flows from investing activities:
Collections from real estate loans	37,468	83,711
Additions to real estate loans	(67,818)	(86,244)
Proceeds from the sale of loans and loan participations		15,657
Loan loss recoveries	1,022	19
Additions to real estate properties	(136,403)	(101,512)
Net costs capitalized to real estate owned	(26,601)	(7,271)
Net change in restricted cash - construction holdbacks	18,827	(30,276)
Collection of loan fees	1,420	1,717
Proceeds from sale of real estate owned	573	852
Proceeds from sale of available-for-sale securities	991	3,222
Purchase of available-for-sale-securities		(1,634)
Distributions of capital of unconsolidated joint ventures		4,474
Contributions to unconsolidated joint ventures		(4,760)
Net cash used in investing activities	(170,521)	(122,045)
Cash flows from financing activities:
Proceeds from borrowed funds	3,000	3,500
Repayment of borrowed funds	(3,000)	(3,500)
Increase in mortgages payable	111,742	114,695
Mortgage principal payments	(3,601)	(3,410)
Increase in deferred borrowing costs	(1,664)	(7,805)
Capital contributions from non-controlling interests	9,621	8,929
Capital distribution to non-controlling interests	(1,007)	(105)
Proceeds from sale of New Markets Tax Credits		16,080
Repurchase of shares of beneficial interest		(880)
Net cash provided by financing activities	115,091	127,504
Net decrease in cash and cash equivalents	(53,810)	(1,056)
Cash and cash equivalents at beginning of period	78,245	44,025
Cash and cash equivalents at end of period	24,435	42,969
Supplemental disclosure of cash flow information:
Cash paid during the period for interest, net of capitalized interest	7,558	2,380
Taxes paid	$ 85	$ 169