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Subsequent events | 6 Months Ended
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Jun. 30, 2014
Subsequent events |
Subsequent events | Note 16. Subsequent events Subsequent Acquisitions From July 1, 2014 through July 31, 2014, we acquired 673 properties through our recurring acquisition channels, including foreclosure auctions and broker sales, with an aggregate purchase price of approximately $96.7 million. In addition, we acquired 1,372 properties through the acquisition of Beazer Pre-Owned Rental Homes, Inc. ("Beazer Rental Homes") on July 1, 2014, as discussed below. We expect that our level of acquisition activity will fluctuate based on the number of suitable investments and on the level of funds available for investment. Acquisition of Beazer Pre-Owned Rental Homes, Inc. On July 1, 2014, we acquired Beazer Rental Homes in exchange for approximately 8.2 million Class A common shares, $5.0 million of cash to be held in an indemnification escrow and extinguishment of certain liabilities of Beazer Rental Homes, including $112.8 million outstanding under Beazer Rental Homes' credit facility. The acquisition of Beazer Rental Homes adds 1,372 properties located in the Arizona, California, Florida and Nevada to our portfolio. Borrowings on Credit Facility From July 1, 2014 through July 31, 2014, the Company borrowed an additional $120.0 million under the credit facility and made payments on the credit facility totaling $15.0 million, resulting in an outstanding balance of $586.0 million on July 31, 2014. Declaration of Dividends On August 4, 2014, our board of trustees declared a quarterly dividend of $0.05 per Class A common share payable on September 30, 2014 to shareholders of record on September 15, 2014. Additionally, our board of trustees also declared the quarterly dividends of $0.3125 per share on the Company's 5.0% Series A Participating Preferred Shares payable on September 30, 2014 to shareholders of record on September 15, 2014, $0.3125 per share on the Company's 5.0% Series B Participating Preferred Shares payable on September 30, 2014 to shareholders of record on September 15, 2014, and $0.34375 per share on the company's 5.5% Series C Participating Preferred shares payable on September 30, 2014, to shareholders of reward on September 15, 2014.

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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 No definition available. + Details
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