Subsequent Events

9 Months Ended

Sep. 30, 2019

The following events occurred subsequent to September 30, 2019:

Real Estate Investment Activity

From October 1, 2019 through October 23, 2019 the Company disposed of two properties, for an aggregate gross sales price of $7.3 million, both of which were held for sale with an aggregate carrying value of $5.2 million as of September 30, 2019 and an estimated gain of $1.8 million.

Class Action Settlement

In connection with the Class Action Settlement, on October 15, 2019, the Company funded $966.3 million, which included the Company’s contribution of $738.5 million. The contribution from the Company’s Former Manager and Former CFO was satisfied with a combination of (i) Limited Partner OP Units held by the Former Manager and Former CFO, (ii) amounts due related to dividends on certain of such Limited Partner OP Units previously withheld from distribution, (iii) the value of substantially all of the Limited Partner OP Units and dividends surrendered to the Company in July 2019 as a result of a settlement by the Former Manager with the SEC, and (iv) cash paid by the Former Manager and Former CFO. On October 15, 2019, the Company contributed $227.8 million for such OP Units and dividends and canceled the19.9 million Limited Partner OP Units surrendered by the Former Manager and Former CFO to the Company.

Common Stock Dividend

On November 5, 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 fourth quarter of 2019 to stockholders of record as of December 31, 2019, which will be paid on January 15, 2020. An equivalent distribution by the Operating Partnership is applicable per OP Unit.

Preferred Stock Dividend

On November 5, 2019, the Company’s Board of Directors declared a monthly cash dividend to holders of the Series F Preferred Stock for January 2020 through March 2020 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
December 15, 2019 - January 14, 2020	January 1, 2020	January 15, 2020
January 15, 2020 - February 14, 2020	February 1, 2020	February 18, 2020
February 15, 2020 - March 14, 2020	March 1, 2020	March 16, 2020