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Subsequent Events | 12 Months Ended
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Dec. 31, 2018
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events The Company has evaluated subsequent events through the date on which this Form 10-K was filed, the date on which these financial statements were issued, and identified the items below for discussion. In January 2019, the Company sold Oakwood Arlington, a wholly-owned operating community, located in Arlington, VA. Oakwood Arlington contains 184 apartment homes, was sold for $70,000,000 and was classified as held for sale as of December 31, 2018. In February 2019, the Company entered into an agreement to sell an operating community containing 474 apartment homes and net real estate of $76,573,000 as of December 31, 2018, resulting in the community qualifying as held for sale subsequent to December 31, 2018. The Company expects to complete the sale in the first quarter of 2019. As of February 22, 2019, the Company has $106,000,000 outstanding under the Credit Facility.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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