Real Estate Properties (Tables)

9 Months Ended

Jun. 30, 2016

Real Estate [Abstract]

Summary of real estate properties owned

A summary of real estate properties owned (including properties held for sale) follows (dollars in thousands):

	September 30, 2015 Balance		Additions		Capitalized Costs and Improvements		Depreciation			Sales			June 30, 2016 Balance
Multi-family	$	605,040	$	205,350	$	29,225	$	(16,390	)	$	(137,688	)	$	685,537
Land - Daytona, FL	7,972		—		2		—			—			7,974
Shopping centers/Retail - Yonkers, NY	2,574		—		—		(80		)	—			2,494
Total real estate properties	$	615,586	$	205,350	$	29,227	$	(16,470	)	$	(137,688	)	$	696,005

Schedule of assets acquired and liabilities assumed

The following table summarizes the preliminary allocations of the purchase prices of assets acquired during the three months ended June 30, 2016 (dollars in thousands):

	Preliminary Purchase Price Allocation
Land	$	18,875
Buildings and Improvements	69,688
Acquisition-related intangible assets	587
Total Consideration	$	89,150

The following table summarizes the preliminary allocations of the purchase price of seven properties purchased between July 1, 2015 and June 30, 2016 and the finalized allocation of the purchase price of such properties, as adjusted, as of June 30, 2016 (dollars in thousands):

	Preliminary Purchase Price Allocation		Adjustments			Finalized Purchase Price Allocation
Land	$	28,556	$	(4,730	)	$	23,826
Building and improvements	181,912		4,087			185,999
Acquisition-related intangible assets	332		643			975
Total Consideration	$	210,800	$	—		$	210,800