Real Estate Disposition Activities

The following activity took place during the year ended December 31, 2018:


•	The Company sold eight wholly-owned operating communities, containing an aggregate of 1,798 apartment homes for an aggregate sales price of $618,750,000 and an aggregate gain of $195,115,000.


•	The Company contributed five wholly-owned operating communities to the NYC Joint Venture for a sales price of $758,900,000, recognizing a gain on sale of $179,861,000. See Note 5, “Investments in Real Estate Entities,” for additional discussion of the venture.


•	The Company sold other real estate for an aggregate sales price of $639,000, resulting in an aggregate gain of $345,000.

Details regarding the real estate sales are summarized in the following table (dollars in thousands):



Community Name	Location	Period of sale	Apartment homes	Debt		Gross sales price		Net cash proceeds
Avalon Blue Hills/Avalon Canton at Blue Hills	Randolph/Canton, MA	Q218	472	$	—	$	131,250	$	129,466
Eaves North Quincy	Quincy, MA	Q218	224	—		64,250		63,302
Avalon Anaheim Stadium	Anaheim, CA	Q218	251	—		111,600		105,495
Avalon Ballston Place	Arlington, VA	Q318	383	—		169,000		166,921
Avalon at Fairway Hills - Fields	Columbia, MD	Q418	192	—		39,500		38,744
Avalon Fashion Valley	San Diego, CA	Q418	161	—		70,750		69,781
Avalon Andover	Andover, MA	Q418	115	—		32,400		31,765
NYC Joint Venture (1)	New York, NY	Q418	1,301	395,939		758,900		276,799
Other real estate dispositions (2)	multiple	2018	N/A	—		639		1,040

Total of 2018 asset sales			3,099	$	395,939	$	1,378,289	$	883,313

Total of 2017 asset sales			1,624	$	—	$	514,654	$	503,039

Total of 2016 asset sales			2,051	$	—	$	564,028	$	532,717

_________________________________


(1)	The Company contributed five communities located in New York, NY, to the NYC Joint Venture, in which the Company retained a 20.0% ownership interest, as discussed in Note 5, "Investments in Real Estate Entities."


(2)	Primarily composed of the sale of one undeveloped land parcel, located in Fairfax City, VA.

As of December 31, 2018, the Company had one community and two ancillary land parcels that qualified as held for sale.