Real Estate Disposition Activities

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Real Estate Disposition Activities

Real Estate Disposition Activities

The following real estate sales occurred during the six months ended June 30, 2019:

• In January 2019, the Company sold Oakwood Arlington, located in Arlington, VA, containing an aggregate of 184 apartment homes for $70,000,000. The Company's gain on disposition was $16,382,000, reported in gain on sale of communities on the accompanying Condensed Consolidated Statements of Comprehensive Income.

• In January and March 2019, the Company sold two undeveloped land parcels for an aggregate sale price of $3,680,000. The Company recognized a gain on disposition of $214,000, reported in gain on other real estate transactions, net on the accompanying Condensed Consolidated Statements of Comprehensive Income.

• In April 2019, the Company sold Archstone Toscano, located in Houston, TX, containing an aggregate of 474 apartment homes for $98,000,000. The Company's gain on disposition was $20,604,000, reported in gain on sale of communities on accompanying Condensed Consolidated Statement of Comprehensive Income.

At June 30, 2019, the Company had one community that qualified as held for sale.