Debt Obligations (Tables)

9 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Schedule of debt obligations

Debt obligations consist of the following (dollars in thousands):

	June 30, 2017			September 30, 2016
Mortgages payable (a)	$	698,091		$	621,382
Junior subordinated notes	37,400			37,400
Deferred mortgage costs	(7,141		)	(6,275		)
Total debt obligations, net of deferred costs	$	728,350		$	652,507

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(a) Excludes mortgages payable held for sale of $27,052,000 at September 30, 2016.

Schedule of debt information

During the nine months ended June 30, 2017, the Company obtained the following mortgage debt in connection with the following property acquisitions (dollars in thousands):

Location	Closing Date	Acquisition Mortgage Debt		Interest Rate		Interest only period	Maturity Date
Fredricksburg, VA	11/4/16	$	27,639	3.68	%	N/A	February 2027
Fredricksburg, VA	11/4/16	2,261		4.84	%	N/A	February 2027
St. Louis, MO	2/28/17	20,000		4.79	%	6 years	March 2027
St. Louis, MO	2/28/17	6,200		4.84	%	6 years	March 2027
Creve Coeur, MO	4/4/17	29,000		LIBOR + 2.50%		N/A	July 2018	(a)
Farmers Branch, TX	6/29/17	55,200		4.22	%	5 years	July 2028
		$	140,300

(a) Mortgage contains nine month extension option.

During the nine months ended June 30, 2017, the Company obtained supplemental fixed rate mortgage financing as set forth in the table below (dollars in thousands):

Location	Closing Date	Supplemental Mortgage Debt		Interest Rate		Maturity Date
Decatur, GA	5/30/17	$	4,941	5.32	%	December 2022

Information regarding these loans at June 30, 2017 is set forth below(dollars in thousand):

Location	Closing Date	Maximum Loan Amount		Amount outstanding		Interest Rate	Maturity Date	Extension Option
N Charleston, SC (1)	10/13/2015	$	30,265	$	27,289	LIBOR + 1.70%	10/13/2019	1 year
Nashville,TN	6/2/2017	47,426		—		LIBOR + 2.85%	6/2/2020	N/A
		$	77,691	$	27,289

(1) This property is currently in lease up.