| Net income (loss) | 39.36M |
| Provision for loan loss | |
| Recovery of previously provided allowance | |
| Impairment charges | |
| Amortization and depreciation | 19.05M |
| Amortization of deferred fee income | |
| Accretion of junior subordinated notes principal | |
| Amortization of securities discount | |
| Amortization of restricted stock | 689K |
| Gain on sale of real estate assets from discontinued operations | |
| Gain on sale of available-for-sale securities | |
| Loss on extinguishment of debt | 2.67M |
| Equity in earnings of unconsolidated joint ventures | |
| Distribution of earnings of unconsolidated joint ventures | |
| Increase in straight line rent | |
| (Increase) decrease in interest and dividends receivable | -2.21M |
| Decrease (increase) in prepaid expenses | -434K |
| Increase (decrease) in accounts payable and accrued liabilities | 776K |
| Increase in deferred costs | |
| Increase in security deposits and other receivable | -2.57M |
| Other | |
| Net cash used in operating activities | 6.9M |
| Collections from real estate loans | 0 |
| Additions to real estate loans | |
| Proceeds from the sale of loans and loan participations | |
| Loan loss recoveries | |
| Net costs capitalized to real estate owned | -189.3M |
| Collection of loan fees | |
| Proceeds from sale of real estate owned | |
| Proceeds from sale of available for sale securities | |
| Purchase of available for sale securities | |
| Distributions of capital of unconsolidated joint ventures | |
| Contributions to unconsolidated joint ventures | |
| Purchase of interest from non controlling partner | |
| Net cash (used in) provided by investing activities | -41.9M |
| Repayment of junior subordinated notes | |
| Proceeds from mortgages payable | 175.61M |
| Mortgage principal payments | -112.23M |
| Increase in deferred borrowing costs | |
| Cash distribution - common shares | |
| Expenses associated with stock issuance | |
| Capital contributions from non-controlling interests | 22.64M |
| Capital distributions to non-controlling interests | -27.09M |
| Repurchase of shares of beneficial interest | -2.06M |
| Net cash (used in) provided by financing activities | 57.17M |
| Net (decrease) increase in cash and cash equivalents | 22.17M |
| Cash and cash equivalents at beginning of period | 15.56M |
| Cash and cash equivalents at end of period | 37.73M |
| Cash paid during the period for interest | 20.07M |
| Common stock dividend portion paid in the Trust's common shares | |
| Reclassification of real estate properties to real estate held for sale | |
| Reclassification of deferred costs to real estate properties | |