Significant Transactions During the Three Months Ended March 31, 2023 and Subsequent Events

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Significant Transactions During the Three Months Ended March 31, 2023 and Subsequent Events

Significant Transactions During the Three Months Ended March 31, 2023 and Subsequent Events

Significant Transactions

Dispositions

In March 2023, the Company sold CBC and The Sweeps, a non-core apartment home community with 239 apartment homes, located in Goleta, CA, for a total contract price of $91.7 million. The Company recognized a $54.5 million gain on sale.

Common Stock

During the three months ended March 31, 2023, the Company repurchased and retired 437,026 shares of the Company's common stock through the Company's stock repurchase plan, totaling $95.7 million, including commissions, at an average price per share of $218.88. As a result, as of March 31, 2023, the Company had $302.7 million of purchase authority remaining under the Company's $500.0 million stock repurchase plan.