The following table summarizes the Trust's segment reporting for the year ended September 30, 2013 (dollars in thousands):

	Multi-Family Real Estate			Loan and Investment		Other Real Estate			Total

Revenues:
Rental and other revenues from real estate properties	$	27,265			—	$	3,327		$	30,592
Interest and fees on real estate loans		—		$	9,946		—			9,946
Other income		—			1,207		1,072			2,279

Total revenues		27,265			11,153		4,399			42,817
Expenses:
Interest expense		8,193			509		3,785			12,487
Advisor's fee, related party		750			831		221			1,802
Property acquisition costs		2,466			—		—			2,466
General and administrative		5,661			1,415		372			7,448
Operating expenses relating to real estate properties		13,570			—		2,839			16,409
Depreciation and amortization		6,119			—		975			7,094

Total expenses		36,759			2,755		8,192			47,706

Total revenues less total expenses		(9,494	)		8,398		(3,793	)		(4,889	)
Equity in earnings of unconsolidated ventures		—			—		198			198
Gain on sale of available-for-sale securities		—			530		—			530
Gain on sale of partnership interest		—			—		5,481			5,481

(Loss) income from continuing operations		(9,494	)		8,928		1,886			1,320
Discontinued operations:
Gain on sale of real estate assets		—			—		769			769

Income from discontinued operations		—			—		769			769

Net (loss) income		(9,494	)		8,928		2,655			2,089
Plus: net loss attributable to non-controlling interests		480			—		2,444			2,924

Net (loss) income attributable to common shareholders	$	(9,014	)	$	8,928	$	5,099		$	5,013

Segment assets at September 30, 2013	$	312,962		$	87,042	$	149,487		$	549,491

The following table summarizes the Trust's segment reporting for the year ended September 30, 2012 (dollars in thousands):

	Multi-Family Real Estate			Loan and Investment			Other Real Estate			Total

Revenues:
Rental and other revenues from real estate properties	$	5,464			—		$	3,211		$	8,675
Interest and fees on real estate loans		—		$	9,530			—			9,530
Other income		—			496			878			1,374

Total revenues		5,464			10,026			4,089			19,579
Expenses:
Interest expense		1,629			951			2,149			4,729
Advisor's fee, related party		230			684			190			1,104
Property acquisition costs		2,407			—			—			2,407
General and administrative		1,069			4,422			1,670			7,161
Operating expenses relating to real estate properties		2,644			—			3,398			6,042
Depreciation and amortization		1,276			—			728			2,004

Total expenses		9,255			6,057			8,135			23,447

Total revenues less total expenses		(3,791	)		3,969			(4,046	)		(3,868	)
Equity in (loss) earnings of unconsolidated ventures		(121	)		(136	)		1,086			829
Gain on sale of available-for-sale securities		—			605			—			605
Gain on sale of loan		—			3,192			—			3,192

(Loss) Income from continuing operations		(3,912	)		7,630			(2,960	)		758
Discontinued operations:
Gain on sale of real estate assets		—			—			792			792

Income from discontinued operations		—			—			792			792
Net (loss) income		(3,912	)		7,630			(2,168	)		1,550
Plus: net loss attributable to non-controlling interests		461			—			2,419			2,880

Net (loss) income attributable to common shareholders	$	(3,451	)	$	7,630		$	251		$	4,430

Segment assets at September 30, 2012	$	121,153		$	113,383		$	151,420		$	385,956

The following table summarizes the Trust's segment reporting for the year ended September 30, 2011 (dollars in thousands):

	Real Estate			Loan and Investment			Total

Revenues:
Rental and other revenues from real estate properties	$	3,456			—		$	3,456
Interest and fees on real estate loans		—		$	10,328			10,328
Other income		—			4,097			4,097

Total revenues		3,456			14,425			17,881
Expenses:
Interest expense		1,030			1,082			2,112
Advisor's fee, related party		308			608			916
General and administrative		2,063			4,665			6,728
Operating expenses related to real estate properties		3,340			—			3,340
Depreciation and amortization		738			—			738

Total expenses		7,479			6,355			13,834

Total revenues less total expenses		(4,023	)		8,070			4,047
Equity in earnings of unconsolidated ventures		251			99			350
Gain on sale of available-for-sale securities		—			1,319			1,319
Loss on extinguishment of debt		(718	)		(1,420	)		(2,138	)

(Loss) income from continuing operations		(4,490	)		8,068			3,578
Discontinued operations:
Gain on sale of real estate assets		1,346			—			1,346

Income from discontinued operations		1,346			—			1,346

Net (loss) income		(3,144	)		8,068			4,924
Plus: net loss attributable to non-controlling interests		1,450			—			1,450

Net (loss) income attributable to common shareholders	$	(1,694	)	$	8,068		$	6,374

Segment assets at September 30, 2011	$	64,096		$	126,916		$	191,012