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Subsequent Events
3 Months Ended
Mar. 31, 2021
Subsequent Events  
Subsequent Events

9.  Subsequent Events

On April 2, 2021, the Board of Directors of the Company declared a cash distribution of $0.09 per share of common stock payable on May 7, 2021 to stockholders of record on April 16, 2021.

On March 5, 2021, the Company entered into a Purchase and Sale Agreement with a third-party buyer for the disposition of three office properties located in Atlanta, Georgia for a purchase price of approximately $219.5 million. The buyer’s due diligence inspection period expired on April 15, 2021 and the Company had no assurance the sale was probable as of March 31, 2021. Assuming satisfaction of certain customary conditions to close, the closing of the sale of the properties is expected to take place on or about May 17, 2021; provided, however, that seller and buyer each have a one-time right to extend the closing date by up to thirty (30) days by providing notice to the other party at least three (3) business days prior to the then scheduled closing date.