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ACQUISITIONS AND DISPOSITIONS | 3 Months Ended
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Mar. 31, 2020
Business Combinations [Abstract] |
ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS ACQUISITIONS We acquired $46.3 million of new real estate during the three months ended March 31, 2020, compared to $44.0 million acquisitions in the three months ended March 31, 2019. Our acquisitions during the three months ended March 31, 2020 and 2019 are detailed below. Three Months Ended March 31, 2020
| Date Acquired |  | (in thousands)
|  | Total Acquisition Cost |  |  | Form of Consideration |  | Investment Allocation
Acquisitions |  |  | Cash |  |  | Other(1) |  |  | Land |  |  | Building |  |  | Intangible Assets |  |  | Other(2) |
182 homes - Ironwood Apartments - New Hope, MN | March 5, 2020 |  | $ | 46,263 |  |  | $ | 28,600 |  |  | $ | 17,663 |  |  | $ | 2,165 |  |  | $ | 36,869 |  |  | $ | 824 |  |  | 6,405 |
Total Acquisitions |  |  | $ | 46,263 |  |  | $ | 28,600 |  |  | $ | 17,663 |  |  | $ | 2,165 |  |  | $ | 36,869 |  |  | $ | 824 |  |  | $ | 6,405 |
(1) | Payoff of note receivable and accrued interest by seller at closing.
(2) | Consists of TIF note acquired. Refer to Note 2 for further discussion.
Three Months Ended March 31, 2019
| Date Acquired |  | (in thousands)
|  | Total Acquisition Cost |  |  | Form of Consideration |  | Investment Allocation
Acquisitions |  |  | Cash |  |  | Units(1) |  |  | Land |  |  | Building |  |  | Intangible Assets |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |
272 homes - SouthFork Townhomes - Lakeville, MN | February 26, 2019 |  | $ | 44,000 |  |  | $ | 27,440 |  |  | $ | 16,560 |  |  | $ | 3,502 |  |  | $ | 39,950 |  |  | $ | 548 |
Total Acquisitions |  |  | $ | 44,000 |  |  | $ | 27,440 |  |  | $ | 16,560 |  |  | $ | 3,502 |  |  | $ | 39,950 |  |  | $ | 548 |
(1) | Value of Series D preferred units at the acquisition date.
DISPOSITIONS During the three months ended March 31, 2020, we had no dispositions. During the three months ended March 31, 2019, we sold one parcel of unimproved land for a total sale price of $3.0 million. The following tables detail our dispositions for the three months ended March 31, 2019: Three Months Ended March 31, 2019
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  |  | Book Value and Sale Cost |  |  | Gain/(Loss) |
Unimproved Land |  |  |  |  |  |  |
Creekside Crossing - Bismarck, ND | March 1, 2019 |  | $ | 3,049 |  |  | $ | 3,205 |  |  | $ | (156 | )
Total Dispositions |  |  | $ | 3,049 |  |  | $ | 3,205 |  |  | $ | (156 | )

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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