Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The Company has evaluated subsequent events through the date on which this Form 10-Q was filed, the date on which these financial statements were issued, and identified the items below for discussion.

In October 2021, the Company acquired Curv located in Fort Lauderdale, FL, containing 243 apartment homes and 49,000 square feet of commercial space that is 100% leased to Whole Foods Market, for a purchase price of $150,000,000.

In October 2021, the Company sold 101,343 shares of common stock under CEP V at an average sales price of $225.85 per share, for net proceeds of $22,545,000.

In November 2021, the Company repaid an aggregate of $73,060,000 principal amount of fixed rate debt with a weighted average interest rate of 3.79% secured by Avalon Westbury at par in advance of the November 2036 maturity date.

As of November 4, 2021, the Company had $39,000,000 outstanding under the Credit Facility.