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INVESTMENTS IN REAL ESTATE

9 Months Ended

Jun. 30, 2011

INVESTMENTS IN REAL ESTATE [Abstract]

NOTE 6 – INVESTMENTS IN REAL ESTATE

The following is a summary of the carrying value of the Company's investments in real estate (in thousands):

	June 30,		September 30,
	2011		2010
Properties owned, net of accumulated depreciation of $4,553 and $3,989	$	15,230	$	17,387
Real estate ventures		2,101		9,727
Investments in real estate, net	$	17,331	$	27,114

On June 23, 2011, the Company received net proceeds of approximately $16.6 million in connection with the sale of a building in Washington, DC by its owner in which the Company owned a 25% interest. As a result, the Company realized a gain on its investment of approximately $7.6 million on the transaction.

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Audit and Accounting Guide (AAG)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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