| Schedule of Real Estate Disposals |
The following table is a summary of the real estate properties disposed of by the Trust subsequent to the year ended September 30, 2016 (dollars in thousands): | | | | | | | | | | | | | | | | | | Location | Sale Date | | No. of Units | | Sales Price | | Gain on Sale | | Non-controlling partner portion of gain | Greenville, SC | 10/19/2016 | | 350 |
| | $ | 68,000 |
| | $ | 18,937 |
| | $ | 9,669 |
| Panama City, FL | 10/26/2016 | | 160 |
| | 14,720 |
| | 7,390 |
| | 3,732 |
| Atlanta, GA | 11/21/2016 | | 350 |
| | 36,750 |
| | 8,796 |
| | 4,046 |
| Hixon, TN | 11/30/2016 | | 156 |
| | 10,775 |
| | 479 |
| | 120 |
| | | | 1,016 |
| | $ | 130,245 |
| | $ | 35,602 |
| | $ | 17,567 |
|
The following table is a summary of the real estate properties disposed of by the Trust in the year ended September 30, 2016 (dollars in thousands): | | | | | | | | | | | | | | | | | | Location | Sale Date | | No. of Units | | Sales Price | | Gain on Sale | | Non-controlling partner portion of gain | Cordova, TN | 3/2/2016 | | 464 |
| | 31,100 |
| | 6,731 |
| | 2,195 |
| Kennesaw, GA | 3/15/2016 | | 450 |
| | 64,000 |
| | 17,462 |
| | 10,037 |
| Pooler, GA | 4/6/2016 | | 300 |
| | 38,500 |
| | 5,710 |
| | 1,405 |
| Collierville, TN | 6/1/2016 | | 324 |
| | 34,300 |
| | 4,586 |
| | 917 |
| Little Rock, AK (1) | 6/6/2016 | | 172 |
| | 2,372 |
| | 386 |
| | — |
| Wichita, KS | 9/1/2016 | | 496 |
| | 30,400 |
| | 10,718 |
| | 4,241 |
| | | | 2,206 |
| | $ | 200,672 |
| | $ | 45,593 |
| | $ | 18,795 |
|
(1) Reflects the sale of a partnership interest The assets and liabilities as of September 30, 2015 of the discontinued operations of the Newark Joint Venture and the statement of operations for the twelve months ended September 30, 2016 and 2015, are summarized as follows (dollars in thousands): | | | | | | Balance Sheet | | September 30, 2015 | ASSETS | | | Real estate properties, net | | $ | 141,441 |
| Restricted cash | | 13,277 |
| Deposits and escrows | | 93 |
| Other assets | | 8,734 |
| Total assets of discontinued operations | | $ | 163,545 |
| | | | LIABILITIES | | | Mortgage payable, net of deferred costs of $9,683 | | $ | 100,692 |
| Accounts payable and accrued liabilities | | 6,848 |
| Deferred income | | 30,990 |
| Total liabilities of discontinued operations | | $ | 138,530 |
|
| | | | | | | | | | Statement of Operations | | | Twelve Months Ended September 30, | | | | | 2016 | | 2015 | Revenues: | | | | | Rental and other revenue from real estate properties | | $ | 2,437 |
| | $ | 4,335 |
| Other income | | 444 |
| | 1,067 |
| Total revenues | | 2,881 |
| | 5,402 |
| | |
| | | Expenses: | | | | | Real estate operating expenses | | 2,277 |
| | 4,610 |
| Interest expense | | 2,242 |
| | 4,880 |
| Depreciation | | 1,150 |
| | 2,241 |
| Total expense | | 5,669 |
| | 11,731 |
| Income from discontinued operations | | (2,788 | ) | | (6,329 | ) | Gain on sale of partnership interest | | 15,467 |
| | — |
| Discontinued operations | | $ | 12,679 |
| | $ | (6,329 | ) |
|