
18.	Subsequent Events/Other

Subsequent Events

Subsequent to December 31, 2013, the Company:


•	Acquired one property consisting of 430 apartments units for $143.0 million.

Other

During the years ended December 31, 2013, 2012 and 2011, the Company incurred charges of $0.3 million, $7.0 million and $7.7 million, respectively, related to property acquisition costs, such as survey, title and legal fees, on the acquisition of operating properties (excluding the Archstone Transaction) and $5.2 million, $9.0 million and $5.1 million, respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs, totaling $5.5 million, $16.0 million and $12.8 million, respectively, are included in other expenses in the accompanying consolidated statements of operations and comprehensive income. See Note 4 for details on the property acquisition costs related to the Archstone Transaction.

During the year ended December 31, 2012, the Company settled a dispute with the owners of a land parcel for $4.2 million, which is included in other expenses in the accompanying consolidated statements of operations and comprehensive income.

In June 2012, the Company received $150.0 million in Archstone-related termination fees subject to certain contingencies. Consistent with the resolution of these contingencies, the Company recognized $70.0 million of these fees as interest and other income in July 2012 and recognized the remaining $80.0 million as interest and other income in October 2012.

During the year ended December 31, 2013, the Company sold a technology investment it had previously written off, receiving proceeds of $2.1 million that were recorded as a realized gain on sale. During the year ended December 31, 2011, the Company received $4.5 million for the termination of its royalty participation in LRO/Rainmaker, a revenue management system. In addition, during 2011, the Company received $0.8 million for the settlement of various litigation/insurance claims. All of the above amounts are included in interest and other income in the accompanying consolidated statements of operations and comprehensive income.

During the year ended December 31, 2011, the Company disposed of its corporate housing business for a sales price of approximately $4.0 million, of which the Company provided $2.0 million of seller financing to the buyer. At the time of sale, the full amount of the seller financing was reserved against and the related gain was deferred. During the year ended December 31, 2013, the Company collected $1.5 million, which represented its final reimbursement of the $2.0 million of seller financing. During the years ended December 31, 2012 and 2011, the Company collected $0.3 million and $0.2 million, respectively, on the note receivable. The Company has recognized a cumulative net gain on the sale of approximately $2.9 million.