Subsequent Events/Other

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events/Other

18. Subsequent Events/Other

Subsequent Events

Subsequent to December 31, 2018, the Company:

• Acquired three properties consisting of 579 apartment units for approximately $258.7 million; and

• Obtained $288.1 million in 3.94% fixed rate mortgage debt held in a Fannie Mae loan pool maturing on March 1, 2029.

Other

During the year ended December 31, 2016, the Company sold its entire interest in the management contracts and related rights associated with the military housing ventures at Joint Base Lewis McChord consisting of 5,161 apartment units for approximately $63.3 million and recognized a gain on sale of approximately $52.4 million, which is included in interest and other income in the accompanying consolidated statements of operations and comprehensive income.