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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2016
Mar. 31, 2015
Revenues:        
Rental and other revenues from real estate properties $ 22,831 $ 19,098 $ 44,229 $ 37,597
Other income 2,026 25 2,033 52
Total revenues 24,857 19,123 46,262 37,649
Expenses:        
Real estate operating expenses 10,935 9,215 21,108 18,580
Interest expense 6,049 4,738 11,580 9,499
Advisor's fee, related party 0 605 693 1,189
Property acquisition costs 953 0 1,010 295
General and administrative 2,280 1,736 4,029 3,393
Depreciation 5,632 4,544 10,616 8,202
Total expenses 25,849 20,838 49,036 41,158
Total revenue less total expenses (992) (1,715) (2,774) (3,509)
Gain on sale of real estate 24,226 2,777 24,835 2,777
Loss on extinguishment of debt (2,668) 0 (2,668) 0
Income from continuing operations 20,566 1,062 19,393 (732)
Loss from discontinued operations (1,188) (1,448) (2,788) (3,181)
Gain on sale of partnership interest 15,467 0 15,467 0
Discontinued operations 14,279 (1,448) 12,679 (3,181)
Net income (loss) 34,845 (386) 32,072 (3,913)
Plus: net (income) loss attributable to non-controlling interests (9,909) (362) (9,170) 667
Net income (loss) attributable to common shareholders $ 24,936 $ (748) $ 22,902 $ (3,246)
Basic and diluted per share amounts attributable to common shareholders:        
Income (loss) from continuing operations (in dollars per share) $ 0.75 $ 0.05 $ 0.72 $ (0.01)
Income (loss) from discontinued operations (in dollars per share) 1.01 (0.10) 0.90 (0.22)
Basic and diluted loss (in dollars per share) $ 1.76 $ (0.05) $ 1.62 $ (0.23)
Income (loss) from continuing operations $ 9,957 $ (174) $ 8,564 $ (2,188)
Income (loss) from discontinued operations $ 14,979 $ (574) $ 14,338 $ (1,058)
Weighted average number of common shares outstanding:        
Basic and diluted (in shares) 14,132,235 14,086,761 14,116,560 14,165,826