SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 11. SUBSEQUENT EVENTS On November 4, 2014, the Company sold a 290-unit complex known as Blue Ridge, located in Midland, Texas, to an independent third party, for a sales price of $52.8 million. We paid off the existing mortgage of $23.7 million. A gain of $26.7 million was recorded on the sale. Sunset Lodge, a 216-unit complex located in Odessa, Texas, is under contract to an independent third party, with an anticipated sales price of $39.4 million. The purchaser will buy the property subject to the existing mortgage of $19.0 million. A gain of $19.7 million will be recorded on the sale. 5.98 acres of land known as Sunset Lodge land, located in Odessa, Texas, is under contract to an independent third party, for an anticipated sales price of $1.2 million. A gain of $0.6 million will be recorded on the sale.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2014

NOTE 11. SUBSEQUENT EVENTS

On November 4, 2014, the Company sold a 290-unit complex known as Blue Ridge, located in Midland, Texas, to an independent third party, for a sales price of $52.8 million. We paid off the existing mortgage of $23.7 million. A gain of $26.7 million was recorded on the sale.

Sunset Lodge, a 216-unit complex located in Odessa, Texas, is under contract to an independent third party, with an anticipated sales price of $39.4 million. The purchaser will buy the property subject to the existing mortgage of $19.0 million. A gain of $19.7 million will be recorded on the sale.

5.98 acres of land known as Sunset Lodge land, located in Odessa, Texas, is under contract to an independent third party, for an anticipated sales price of $1.2 million. A gain of $0.6 million will be recorded on the sale.