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Subsequent Events
6 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
16. Subsequent Events

Real Estate Agreement

On October 10, 2017, the sale of a portion of our Chelsea, New York property into the 1031 Exchange was completed and the net sales proceeds of $194.2 million were transferred to the qualified intermediary.  The qualified intermediary closed on the reverse exchange and transferred $95.1 million to Real Estate.  The sole membership interest in each property held within the VIE was assigned to Real Estate in satisfaction of the outstanding loan. The remaining $105.1 million will be held in deposit at the qualified intermediary until the acquisition of additional replacement properties are closed no later than April 8, 2018.

Real Estate expects to record a gain of $188.0 million (sales proceeds price of $200.3 million less $12.3 million book value and associated costs) in its third quarter.