XML 40 R25.htm IDEA: XBRL DOCUMENT

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Between October 1, 2020 and October 31, 2020, the Company issued 13,986 shares of Series A1 Redeemable Preferred Stock and collected net proceeds of approximately $12.6 million after commissions and fees and issued 2,914 shares of Series M1 Redeemable Preferred Stock and collected net proceeds of approximately $2.8 million after commissions and fees. During the same period, the Company redeemed 23,468 shares of Series A Preferred Stock and 862 shares of Series M1 Preferred Stock, or mShares. On November 2, 2020, the Company closed on the acquisition of The Blake, a 281-unit multifamily community located in Orlando, Florida. On November 3, 2020, the Company announced via a press release the closing on that day of the sale of student housing assets to an unrelated third party for a sales price of approximately $478.7 million. On November 5, 2020, the Company's board of directors declared a quarterly dividend on our Common Stock of $0.175 per share, payable on January 15, 2021 to stockholders of record on December 15, 2020. Even though this dividend will be paid in 2021, if and to the extent this dividend is taxable, the Company intends for this dividend to be taxable in 2020.