Subsequent Events

9 Months Ended

Sep. 30, 2023

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 and November 2023, the Company had the following activity:

•The Company acquired Avalon Mooresville, located in Mooresville, NC, containing 203 apartment homes for a purchase price of $52,100,000.

•The Company acquired Avalon West Plano, located in Carrollton, TX, containing 568 apartment homes for a purchase price of $142,000,000, which includes the assumption of a $63,041,000 fixed rate mortgage loan, with a contractual interest rate of 4.18%, maturing in May 2029.

•The Company sold Avalon Mamaroneck, located in Mamaroneck, NY. Avalon Mamaroneck contains 229 apartment homes and was sold for $104,000,000 and was classified as held for sale as of September 30, 2023.

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