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Subsequent Events | 9 Months Ended
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Sep. 30, 2017
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 2017, the Company:
• | entered into an agreement to sell an operating community containing 99 apartment homes and net real estate of $19,243,000 as of September 30, 2017, resulting in the community qualifying as held for sale. The Company expects to complete the sale in the fourth quarter of 2017;
• | obtained a variable rate secured note in the amount of $21,700,000 that matures in October 2020, in association with the refinancing of an existing $21,601,000 fixed rate secured note that was scheduled to mature in November 2017; and
• | sold Avalon Run East, a wholly-owned operating community located in Lawrenceville, NJ, containing 312 apartment homes, for a sale price of $87,500,000.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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