XML 21 R11.htm IDEA: XBRL DOCUMENT v3.21.2
Acquisitions and Dispositions
9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
Acquisitions [Text Block]
5. Acquisitions and Dispositions
Acquisition of Operating Properties. In August 2021, we acquired one operating property comprised of 368 apartment homes located in St. Petersburg, Florida for approximately $176.3 million. In June 2021, we acquired one operating property comprised of 328 apartment homes located in Franklin, Tennessee for approximately $105.3 million and one operating property comprised of 430 apartment homes located in Nashville, Tennessee for approximately $186.3 million. In October 2021, we acquired one operating property comprised of 558 apartment homes located in Dallas, Texas for approximately $165.5 million.
Acquisition of Land. We did not acquire any land during the three months ended September 30, 2021. During the nine months ended September 30, 2021, we acquired approximately 14.6 acres of land in The Woodlands, Texas for approximately $9.3 million and approximately 0.2 acres of land in St. Petersburg, Florida for approximately $2.1 million for future development purposes. In October 2021, we acquired approximately 5.2 acres of land in Denver, Colorado for approximately $24.0 million for future development purposes. During the nine months ended September 30, 2020, we acquired approximately 4.9 acres of land in Raleigh, North Carolina for approximately $18.2 million for future development purposes.
Disposition of Land. We did not sell any land during the nine months ended September 30, 2021. During the nine months ended September 30, 2020, we sold approximately 4.7 acres of land adjacent to one of our operating properties in Raleigh, North Carolina for approximately $0.8 million and recognized a gain of $0.4 million.