INVESTMENT IN UNCONSOLIDATED VENTURES (Tables)

12 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The table below provides information regarding these joint ventures (dollars in thousands):

Location	Number of Units	Carrying Value of Investment		Property Purchase Price		Mortgage Balance		Percent Ownership
Columbia, SC	374	$	4,670	$	58,300	$	40,402	32	%
Columbia, SC (a)	339	8,581		5,915		34,439		46	%
Forney, TX (b)	313	6,706		39,000		25,350		50	%
Other (c)	—	121		—		—
	1,026	$	20,078	$	103,215	$	100,191

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(a ) Reflects land purchased for a development project at which construction of 339 units is planned. Construction financing for this project of up to

 $47,246 has been secured. Such financing bears interest at 4.08% and matures in June 2020.

(b) This interest is held through a tenancy-in-common. 

(c) Represents interest in cooperative units in Lawrence, NY.