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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
 
On March 23, 2017, the Company announced a cash distribution on its Series A LLC Preferred Shares totaling $6.9 million, or $0.460938 per share. The distribution was paid on April 17, 2017 to preferred shareholders of record as of the close of business on April 10, 2017.

On April 24, 2017, the Company redeemed all of its outstanding Notes due 2042 in accordance with the optional redemption provisions provided in the documents governing the Notes due 2042. As of April 24, 2017, prior to the redemption, there was $115.0 million aggregate principal amount of the Notes due 2042 outstanding. The redemption price equaled 100% of the principal amount of the Notes due 2042 plus unpaid interest accrued thereon to, but excluding, the redemption date, in accordance with the terms of the Notes due 2042.

On May 2, 2017, the Company's board of directors approved a $166.3 million contribution from its Parent representing membership interests in a controlling company of a real estate investment trust, and on May 5, 2017, the Company's board of directors approved a $166.3 million cash distribution to its Parent, as the holder of all the Company's common shares.