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Subsequent Events | 3 Months Ended
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Mar. 31, 2019
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 April 2019, the Company had the following activity.
• | The Company sold Archstone Toscano, a wholly-owned operating community, located in Houston, TX. Archstone Toscano contains 474 apartment homes, was sold for $98,000,000 and was classified as held for sale as of March 31, 2019.
• | The Company acquired Avalon Cerritos located in Cerritos, CA, containing 132 apartment homes, for a purchase price of $60,500,000.
• | The Company repaid $13,394,000 of 4.64% fixed rate debt and $33,929,000 of variable debt secured by Avalon Natick at par on its maturity date.
As of May 3, 2019, the Company has $211,000,000 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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