Real Estate Properties (Tables)

3 Months Ended

Dec. 31, 2018

Real Estate [Abstract]

Summary of real estate properties owned

Real estate properties (including a property held for sale at September 30, 2018) consist of the following (dollars in thousands):

	December 31, 2018		September 30, 2018
Land	$	155,573	$	163,862
Building	924,378		943,775
Building improvements	41,003		40,274
Real estate properties	1,120,954		1,147,911
Accumulated depreciation	(91,715)		(88,109)
Total real estate properties, net	$	1,029,239	$	1,059,802

A summary of real estate properties owned (including a property held for sale at September 30, 2018) follows (dollars in thousands):

	September 30, 2018 Balance		Additions		Capitalized Costs and Improvements		Depreciation		Sales		December 31, 2018 Balance
Multi-family	$	1,005,353	$	38,259	$	3,093	$	(10,164)	$	(72,221)	$	964,320
Multi-family development - West Nashville, TN	44,057		—		10,498		—		—		54,555
Land - Daytona, FL	8,021		—		—		—		—		8,021
Shopping centers/Retail - Yonkers, NY	2,371		—		—		(28)		—		2,343
Total real estate properties	$	1,059,802	$	38,259	$	13,591	$	(10,192)	$	(72,221)	$	1,029,239

Summary of the allocation of purchase price

The following table summarizes the allocation of the purchase price with respect to a property purchased during the three months ended December 31, 2018 (dollars in thousands):

	Allocation of Purchase Price
Land	$	3,164
Building and improvements	34,446
Acquisition-related intangible assets	649
Total consideration	$	38,259