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Real Estate Held for Sale
9 Months Ended
Jun. 30, 2014
Notes to Financial Statements  
Real Estate Held for Sale

(10) Real Estate Held for Sale. In July 2013 the Company sold 15.18 acres of land at Patriot Business Park resulting in $835,000 of cash held in escrow related to post sale obligations of the Company. The amount of cash held in escrow for work to be completed was $220,000 as of June 30, 2014.

 

The sale of phase two of the Windlass Run residential property is scheduled to close in March of 2015 for $11 million. The book cost of that property of $4,340,000 was transferred from real estate held for investment to real estate held for sale during the quarter ending June 30, 2014.