Property Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Property Dispositions

During the year ended December 31, 2019, the Company sold the following owned properties for approximately $109.5 million, resulting in net proceeds of approximately $108.6 million. The combined net loss on the dispositions was not material.

Property	Location	Primary University Served	Beds
College Club Townhomes (1) (2)	Tallahassee, FL	Florida A&M University	544
Landmark	Ann Arbor, MI	University of Michigan	606
			1,150

⁽¹⁾  Concurrent with the classification of this property as held for sale in March 2019, the Company reduced the property’s carrying amount to its estimated fair value less estimated selling costs and recorded an impairment charge of $3.2 million.

⁽²⁾ 

Consisted of two phases that were previously counted separately in the property portfolio numbers contained in Note 1.