Acquisitions and Joint Venture Investments (Tables)

12 Months Ended

Dec. 31, 2019

During the year ended December 31, 2019, two properties subject to presale agreements were completed and acquired by the Company for $110.2 million. The purchase price includes $8.6 million related to the purchase of the land on which one of the properties is built. Additionally, upon acquisition, the third-party developer repaid an $18.5 million mezzanine loan, including accrued interest, that the Company provided to one of the projects during the construction period. As the properties were consolidated by the Company from the time of execution of the presale agreements with the developers, the closing of the transactions were accounted for as an increase in ownership of consolidated subsidiaries. The two properties acquired are detailed below:



Property	Location	Primary University Served	Project Type	Beds	Month Acquired
The Flex - Stadium Centre	Tallahassee, FL	Florida State University	Off-campus	340	August 2019
959 Franklin	Eugene, OR	University of Oregon	Off-campus	443	November 2019
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