Subsequent Events

The following events occurred subsequent to December 31, 2018:

Insurance Settlement

On January 23, 2019, the Company signed a settlement and release agreement (the “Insurance Settlement and Release Agreement”) with certain insurance carriers and subsequently received $48.4 million of insurance recoveries. The Company did not record these insurance recoveries as a receivable prior to the finalization of the Insurance Settlement and Release Agreement in the accompanying consolidated balance sheets for the years ended December 31, 2018 and 2017, because it was not probable that the Company would receive these insurance recoveries as of December 31, 2018 and 2017.

Real Estate Investment Activity

From January 1, 2019 through February 8, 2019 the Company disposed of eight properties for an aggregate gross sales price of $9.2 million, of which four were held for sale with an aggregate carrying value of $1.9 million as of December 31, 2018. The Company’s share of the aggregate sales price was $8.6 million with an estimated gain of $2.5 million. In addition, the Company acquired three properties for an aggregate purchase price of $36.8 million, excluding capitalized external acquisition-related expenses.

Debt Activity

On February 6, 2019, the Company’s 2019 Senior Notes matured and the principal outstanding of $750.0 million, plus accrued and unpaid interest thereon, was repaid, utilizing borrowings under its Credit Facility.

On January 24, 2019, the Company entered into interest rate swap agreements with an aggregate $900.0 million notional amount, effective on February 6, 2019 and maturing on January 31, 2023. Based on the General Partner’s then credit rating and interest rate of LIBOR + 1.35%, the swap agreements effectively fixed the Credit Facility Term Loan interest rate at approximately 3.84%.

Mortgage Notes Receivable, Net

On January 15, 2019, the Company sold four mortgage notes receivable for $8.3 million.

Common Stock Dividend

On February 20, 2019, the Company’s Board of Directors declared a quarterly cash dividend of $0.1375 per share of Common Stock (equaling an annualized dividend rate of $0.55 per share) for the first quarter of 2019 to stockholders of record as of March 29, 2019, which will be paid on April 15, 2019. An equivalent distribution by the Operating Partnership is applicable per OP Unit.

Preferred Stock Dividend

On February 20, 2019, the Company’s Board of Directors declared a monthly cash dividend to holders of the Series F Preferred Stock for April 2019 through June 2019 with respect to the periods included in the table below. The corresponding record and payment dates for each month's Series F Preferred Stock dividend are also shown in the table below. The dividend for the Series F Preferred Stock accrues daily on a 360-day annual basis equal to an annualized dividend rate of $1.675 per share, or $0.1395833 per 30-day month.



Period	Record Date	Payment Date
March 15, 2019 - April 14, 2019	April 1, 2019	April 15, 2019
April 15, 2019 - May 14, 2019	May 1, 2019	May 15, 2019
May 15, 2019 - June 14, 2019	June 1, 2019	June 17, 2019