Subsequent Events/Other

3 Months Ended

Mar. 31, 2016


14.	Subsequent Events/Other

Subsequent Events

Subsequent to March 31, 2016, the Company:


•	Sold its interest in the management contracts and related rights associated with the military housing ventures at Joint Base Lewis McChord located in Tacoma, Washington for approximately $63.3 million (consisted of 5,161 apartment units); and


•	Partially paid down $2.9 million on one tax-exempt mortgage bond.

Other

During the quarters ended March 31, 2016 and 2015, the Company incurred charges of $1.3 million and $0.1 million, respectively, related to property acquisition costs, such as survey, title and legal fees, on the acquisition of operating properties and $1.5 million and $0.5 million, respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs, totaling $2.8 million and $0.6 million, respectively, are included in other expenses in the accompanying consolidated statements of operations and comprehensive income.