Subsequent Events

3 Months Ended

Mar. 31, 2020

Subsequent Events

Subsequent Events

12. Subsequent Events

Subsequent to March 31, 2020 the following events occurred:

Investment in Unconsolidated Joint Ventures: The JV in which we hold our preferred equity investment completed a transaction to sell the four properties comprising the JV and we received partial liquidation proceeds of $17,200,000. We anticipate receiving additional proceeds of approximately $1,300,000 and expect to recognize a loss on liquidation of unconsolidated joint ventures of approximately $600,000 in the second quarter of 2020 related to the dissolution of this JV.

Equity: We declared a monthly cash dividend of $0.19 per share on our common stock for the months of April, May and June 2020, payable on April 30, May 29, and June 30, 2020, respectively to stockholders of record on April 22, May 21, and June 22, 2020, respectively.