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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 14. SUBSEQUENT EVENTS

 

We are closely monitoring the impact of the COVID-19 pandemic on all aspects of our business and across our portfolio. While we did not experience significant disruptions during the three months ended June 30, 2020 from the COVID-19 pandemic, we are unable to predict the impact the COVID-19 pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties.

 

On July 16, 2020, the Company entered into purchase and sale agreement with a related party for the sale of multi-family property located in Port Arthur, Texas. The purchase price for this transaction is $13.3 million, net cash proceeds received is $5.4 million and assumption of debt is $9.1 million.