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Recent Real Estate Transactions
6 Months Ended
Jun. 30, 2018
Real Estate [Abstract]  
Recent Real Estate Transactions

3. RECENT REAL ESTATE TRANSACTIONS

 

During the six months ended June 30, 2018, the Company acquired twenty-six Model Homes for approximately $10.2 million. The purchase price was paid through cash payments of approximately $3.1 million and mortgage notes of approximately $7.1 million.

During the six months ended June 30, 2018, the Company disposed of thirteen model homes for approximately $4.6 million and recognized a gain of approximately $429,000 related to the sale of these Model Homes.

On February 27, 2017, the Company sold the Rangewood Medical Building for approximately $2.2 million and recognized a loss of approximately $170,000.

On March 31, 2017, the Company sold the Regatta Square Retail Center for approximately $3.0 million and recognized a gain of approximately $756,000.

On April 7, 2017, the Company sold the Shoreline Medical Building for approximately $8.2 million and recognized a gain of approximately $1.3 million.

During the six months ended June 30, 2017, the Company disposed of nine Model Homes for approximately $2.5 million and recognized a gain of approximately $141,000 related to the sale of these Model Homes.

During the six months ended June 30, 2017, the Company acquired thirty model homes for approximately $9.7 million. The purchase price was paid through cash payments of $2.9 million and mortgage notes of $6.8 million.