Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events

25. Subsequent Events

As discussed in Note 11, the Company paid an aggregate of $5.2 million of cash dividends and distributions to common stockholders and common unitholders on January 9, 2014.

As discussed in Notes 1, 6 and 9, the Company completed the acquisition of Liberty Apartments on January 17, 2014 for total consideration of $30.7 million, including the issuance of 695,652 common units of the Operating Partnership, the repayment of a $3.0 million mezzanine loan and the assumption of $20.9 million of debt.

As discussed in Note 11, the Company’s Board of Directors declared a cash dividend/distribution of $0.16 per share/unit on February 18, 2014.

As discussed in Note 9, the Company closed on a $19.5 million loan on February 28, 2014 to fund the development and construction of the Oceaneering International facility.

As discussed in Note 12, the Company granted 99,289 shares of restricted stock to employees with a grant date fair value of $9.94 per share on March 3, 2014.

As discussed in Note 10, the Company executed a LIBOR interest rate cap agreement on a notional amount of $50.0 million and a strike price of 1.25% on March 14, 2014. The interest rate cap agreement expires on March 1, 2017.