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Real Estate Properties (Tables)
 9 Months Ended
Jun. 30, 2017
Real Estate [Abstract]  
Summary of real estate properties owned
Real estate properties (including properties held for sale) consist of the following (dollars in thousands):
 
 
June 30, 2017
 
September 30, 2016
Land
 
$
141,215

 
$
128,409

Building
 
799,849

 
684,133

Building improvements
 
31,254

 
25,717

  Real estate properties
 
972,318

 
838,259

Accumulated depreciation
 
(60,703
)
 
(44,687
)
  Total real estate properties, net
 
$
911,615

 
$
793,572

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



September 30, 2016
Balance
 



Additions
 

Capitalized Costs and Improvements
 



Depreciation
 
Sales
 

June 30, 2017
Balance
Multi-family
$
783,085

 
$
224,449

 
$
7,136

 
$
(21,548
)
 
$
(92,037
)
 
$
901,085

Land - Daytona, FL
8,021

 
—

 
—

 
—

 
—

 
8,021

Shopping centers/Retail - Yonkers, NY
2,466

 


 
125

 
(82
)
 
—

 
2,509

Total real estate properties
$
793,572

 
$
224,449

 
$
7,261

 
$
(21,630
)
 
$
(92,037
)
 
$
911,615
Schedule of assets acquired and liabilities assumed
The following table summarizes the preliminary allocations of the purchase price of eight properties purchased between August 1, 2016 and June 30, 2017 and the finalized allocation of the purchase price of such properties, as adjusted as of June 30, 2017 (dollars in thousands):
 
 
Preliminary Purchase Price Allocation
 
Adjustments
 
Finalized Purchase Price Allocation
Land
 
$
35,743

 
$
(1,550
)
 
$
34,193

Building and improvements
 
276,122

 
341

 
276,463

Acquisition-related intangible assets
 
3,013

 
1,209

 
4,222

Total consideration
 
$
314,878

 
$
—

 
$
314,878