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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of activity of our unvested restricted common shares The following table summarizes the activity of our unvested restricted Common Shares for the years ended December 31, 2020 and 2019:
Unvested Restricted Common Shares
Weighted-Average
Number ofGrant-Date
SharesFair Value
Unvested at December 31, 2018168,449$11.44
Vested——
Unvested at December 31, 2019168,449$11.44
Vested——
Unvested at December 31, 2020168,449$11.44
Schedule of activity for outstanding stock options
The following table summarizes the activity for outstanding stock options:
Options Outstanding
Weighted-Average
Weighted-AverageRemaining
Number ofExerciseContractual TermAggregate
SharesPrice(in years)
Intrinsic Value (1)
Balance at December 31, 2018667 $33.75 1.25$— 
Granted— — 
Exercised— — 
Canceled / forfeited / expired— $— 
Balance at December 31, 2019667 $33.75 1.25$— 
Granted— — 
Exercised— — 
Canceled / forfeited / expired— — 
Balance at December 31, 2020667 $33.75 1.25$— 
Vested and exercisable as of December 31, 2020— $— — $— 

(1)    The aggregate intrinsic value is calculated as approximately the difference between the weighted average exercise price of the underlying awards and the Company’s estimated current fair market value at December 31, 2020. Because the weighted average exercise price exceeds fair market value at December 31, 2020, there is no aggregate intrinsic value for the options.
As of December 31, 2020, the maximum number of Common Shares or OP Units available to be granted is 2,073,686. During the year ended December 31, 2020, the following shares were granted:
DescriptionShares
Weighted-Average Grant Date Fair Value (1)
Non-vested at January 1, 202090,062 $2.18 
Granted179,272 $1.29 
Vested(194,282)$1.36 
Non-vested at December 31, 202075,052 $2.18 
Available for grant at December 31, 20202,073,686
(1) The fair value of the shares granted on July 1, 2019 were determined based on the share activity from the date of the three property sales on December 27, 2018 until the grant date July 1, 2019. The fair value of the shares issued on August 12, 2020 and December 17, 2020 were determined by the market price on the dates of issuance.