Real Estate Properties (Tables)

6 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Summary of real estate properties owned

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

	September 30, 2015 Balance		Additions		Capitalized Costs and Improvements		Depreciation			Sales			March 31, 2016 Balance
Multi-family	$	605,040	$	116,200	$	18,059	$	(10,562	)	$	(69,767	)	$	658,970
Land - Daytona, FL	7,972		—		1		—			—			7,973
Shopping centers/Retail - Yonkers, NY	2,574		—		—		(54		)	—			2,520
Total real estate properties	$	615,586	$	116,200	$	18,060	$	(10,616	)	$	(69,767	)	$	669,463

Schedule of assets acquired and liabilities assumed

The following table summarizes the preliminary allocations of the purchase prices of assets acquired and liabilities assumed during the three months ended March 31, 2016 (dollars in thousands):

	Preliminary Purchase Price Allocation
Land	$	14,508
Buildings and Improvements	101,692
Total Consideration	$	116,200

The following table summarizes the preliminary allocations of the purchase price of properties at the time of purchase and the finalized allocation of the purchase price, as adjusted, as of March 31, 2016 (dollars in thousands):

	Preliminary Purchase Price Allocation		Adjustments			Finalized Purchase Price Allocation
Land	$	9,553	$	(3,598	)	$	5,955
Building and Improvements	91,922		3,129			95,051
Acquisition-related intangible assets (in acquired lease intangibles, net)	—		469			469
Total Consideration	$	101,475	$	—		$	101,475