ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES

12 Months Ended

Sep. 30, 2018

ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES

Property Acquisitions

The tables below provides information regarding the Company's purchases of multi-family properties during the years ended September 30, (dollars in thousands):

2018


Location	Purchase Date	No. of Units	Purchase Price		Acquisition Mortgage Debt		Initial BRT Equity		Ownership Percentage		Capitalized Property Acquisition Costs
Madison, AL	12/7/2017	204	$	18,420	$	15,000	$	4,456	80	%	$	247
Boerne, TX (a)	12/14/2017	120	12,000		9,200		3,780		80	%	244
Ocoee, FL	2/7/2018	522	71,347		53,060		12,370		50	%	1047
Lawrenceville, GA	2/15/2018	586	77,229		54,447		15,179		50	%	767
Daytona Beach, FL	4/30/2018	208	20,500		13,608		6,900		80	%	386
Grand Prairie, TX	5/17/2018	281	30,800		18,995		7,300		50	%	413
		1,921	$	230,296	$	164,310	$	49,985			$	3,104

(a) Includes $500 for the acquisition of a land parcel adjacent to the property.

2017


Location	Purchase Date	No. of Units	Purchase Price		Acquisition Mortgage Debt		Initial BRT Equity		Ownership Percentage		Capitalized Property Acquisition Costs
Fredricksburg, VA	11/4/2016	220	$	38,490	$	29,900	$	8,720	80	%	$	643
St. Louis, MO	2/28/2017	128	27,000		20,000		6,001		76	%	423
St. Louis, MO	2/28/2017	53	8,000		6,200		2,002		76	%	134
Creve Coeur, MO	4/4/2017	174	39,600		29,000		9,408		78	%	569
West Nashville, TN (a)	6/2/2017	402	5,228		—		4,800		58	%	226
Farmers Branch, TX	6/29/2017	509	85,698		55,200		16,200		50	%	992
Tallahassee, FL	8/30/2017	242	27,588		21,524		7,015		80	%	377
		1,728	$	231,604	$	161,824	$	54,146			$	3,364

______________________

(a) A development property.

In the year ended September 30, 2018, the Company purchased its partner's 2.5% interest in Avalon Apartments, located in Pensacola, FL., for $250,000 and its partner's 20% interest in Kilburn Crossing located in Fredricksburg, VA., for $4,909,000.

The table below provides information regarding the real estate property acquired by the Company subsequent to September 30, 2018 (dollars in thousands):


Location	Purchase Date	No. of Units	Contract Purchase Price		Acquisition Mortgage Debt		Initial BRT Equity		Ownership Percentage		Capitalized Property Acquisition Costs
Greenville, SC	10/30/2018	266	$	37,750	$	26,425	$	12,920	90	%	$	509

NOTE 3—ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES (Continued)

Property Dispositions

The tables below provide information regarding the Company's disposition of real estate properties during the years ended September 30, (dollars in thousands):

2018


Location	Sale Date	No. of Units	Sales Price		Gain on Sale		Non-Controlling Partner's Share of Gain on Sale
Melbourne, FL	10/25/2017	208	$	22,250	$	12,519	$	2,504
New York, NY (1)	1/18/2018	1	470		439		—
Valley, AL	2/23/2018	618	51,000		9,712		4,547
Palm Beach Gardens, FL	2/25/2018	542	97,250		41,831		20,593
New York, NY (1)	8/15/2018	1	450		424		—
		1,370	$	171,420	$	64,925	$	27,644

(a) Reflects the sale of a cooperative apartment unit.

2017


Location	Sale Date	No. of Units	Sales Price		Gain on Sale		Non-Controlling Partner's Share of Gain
Greenville, NC	10/19/2016	350	$	68,000	$	18,483	$	9,329
Panama City, FL	10/26/2016	160	14,720		7,393		3,478
Atlanta, GA	11/21/2016	350	36,750		8,905		4,166
Hixson, TN	11/30/2016	156	10,775		608		152
New York, NY (a)	12/21/2016	1	465		449		—
Humble, TX	7/27/2017	260	18,000		7,707		3,143
Humble, TX	7/27/2017	160	11,300		4,767		1,943
Pasadena, TX	7/27/2017	144	9,750		4,289		2,629
		1,581	$	169,760	$	52,601	$	24,840

(a) Reflects the sale of a cooperative apartment unit.

The table below provides information regarding the real estate property disposed of by the Company subsequent to September 30, 2018 (dollars in thousands):


Location	Sale Date	No. of Units	Sales Price		Estimated Gain on Sale		Non-Controlling Partner's Share of Estimated Gain on Sale
North Charleston, SC	11/7/2018	271	$	51,650	$	12,000	$	6,300

Impairment Charges

The Company reviews each real estate asset owned, including those held through investments in unconsolidated joint ventures, for impairment when there is an event or a change in circumstances indicating that the carrying amount may not be recoverable. The Company measures and records impairment losses, and reduces the carrying value of properties, when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. In cases where the Company does not expect to recover its carrying costs on properties held for use, the

NOTE 3—ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES (Continued)Company reduces its carrying costs to fair value, and for properties held for sale, the Company reduces its carrying value to the fair value less costs to sell. During the years ended September 30, 2018, 2017, and 2016, no impairment charges were recorded.