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SUBSEQUENT EVENTS | 9 Months Ended
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Sep. 30, 2014
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | NOTE 11. SUBSEQUENT EVENTS On November 4, 2014, TCI sold a 290-unit complex known as Blue Ridge, located in Midland, Texas, to an independent third party, for a sales price of $52.8 million. We paid off the existing mortgage of $23.7 million. A gain of $26.7 million was recorded on the sale. Sunset Lodge, a 216-unit complex located in Odessa, Texas, is under contract to an independent third party, with an anticipated sales price of $39.4 million. The purchaser will buy the property subject to the existing mortgage of $19.0 million. A gain of $19.7 million will be recorded on the sale. 5.98 acres of land known as Sunset Lodge land, located in Odessa, Texas, is under contract to an independent third party, for an anticipated sales price of $1.2 million. A gain of $0.6 million will be recorded on the sale.

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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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