Real Estate Properties (Tables)

9 Months Ended

Jun. 30, 2018

Real estate properties (including properties held for sale) consist of the following (dollars in thousands):


	June 30, 2018		September 30, 2017
Land	$	167,477	$	138,094
Building	929,305		808,366
Building improvements	35,394		31,411
Real estate properties	1,132,176		977,871
Accumulated depreciation	(77,692)		(66,621)
Total real estate properties, net	$	1,054,484	$	911,250

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


	September 30, 2017 Balance		Additions		Capitalized Costs and Improvements		Depreciation		Sales		June 30, 2018 Balance
Multi-family	$	890,300	$	240,374	$	11,629	$	(28,006)	$	(104,396)	$	1,009,901
Multi-family development - West Nashville, TN	10,448		23,715		—		—		—		34,163
Land - Daytona, FL	8,021		—		—		—		—		8,021
Shopping centers/Retail - Yonkers, NY	2,481		—		—		(82)		—		2,399
Total real estate properties	$	911,250	$	264,089	$	11,629	$	(28,088)	$	(104,396)	$	1,054,484

Schedule of assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price of six properties purchased during the nine months ended June 30, 2018 (dollars in thousands):


	Purchase Price Allocation
Land	$	44,040
Building and improvements	184,003
Acquisition-related intangible assets	5,355
Total consideration	$	233,398