Debt Obligations (Tables)

3 Months Ended

Dec. 31, 2014

Debt Obligations

Schedule of debt obligations

Debt obligations consist of the following (dollars in thousands):

	December 31, 2014		September 30, 2014
Mortgages payable	$	502,103	$	482,406
Junior subordinated notes	37,400		37,400
Total debt obligations	$	539,503	$	519,806

Mortgages [Member]

Debt Obligations

Schedule of debt information

During the three months ended December 31, 2014, the Trust purchased a multi-family property and incurred the following debt (dollars in thousands):

Location	Purchase Date	Acquisition Mortgage Debt		Interest Rate		Interest Only Period	Maturity Date
Pensacola, FL	12/22/14	$	17,173	4.85	%	12 months	October 2018

Junior Subordinated Debt [Member]

Debt Obligations

Schedule of debt information

The interest rates on the outstanding notes is set forth in the table below:

Interest Period	Interest Rate
August 1, 2012 through April 29, 2016	4.90	%
April 30, 2016 through April 30, 2036	Libor + 2.00%