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Subsequent Events | Oct. 06, 2020
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Subsequent Events [Abstract] |
Subsequent Events | Note 15—Subsequent Events In connection with the preparation of the accompanying condensed consolidated financial statements, we have evaluated events and transactions occurring after September 30, 2020, for potential recognition or disclosure. Joint Venture with Rockpoint On October 6, 2020, we entered into an agreement with Rockpoint Group, L.L.C. (“Rockpoint”) to form a joint venture partnership that will acquire single-family homes to operate as rental residences. The joint venture will be capitalized with a total equity commitment of $375,000, of which $75,000 (20%) will be committed by us and $300,000 (80%) will be committed by Rockpoint. We will provide investment, asset management, and property management services to the joint venture, will earn asset management and property management fees, and have the opportunity to earn a promoted interest subject to certain performance thresholds. Acquisition of Single-family Residential Properties In October 2020, we completed two bulk acquisitions for a total of 327 single-family residential properties for $65,739. Extensions of Existing Mortgage Loans On October 1, 2020, we submitted a notification to request an extension of the maturity date of the IH 2018-4 mortgage loan from January 9, 2021 to January 9, 2022. On October 9, 2020, the extension of the maturity date of the SWH 2017-1 mortgage loan from October 9, 2020 to October 9, 2021 was approved by the lender. Dividend Declaration On October 22, 2020, our board of directors declared a dividend of $0.15 per share to stockholders of record on November 10, 2020, which is payable on November 25, 2020.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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