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Disposition
6 Months Ended
Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Disposition

11. Disposition

 

On January 13, 2017, we closed the sale on one of our non-income producing properties, included in assets held for sale on our condensed consolidated balance sheets, for $2.2 million in cash, recognizing approximately $116,000 loss on the sale. Proceeds were used to pay off the remaining $1.5 million of a related 11% balloon note, which was due in 2018. The Company paid a $75,000 prepayment penalty to pay off the debt.