Commitments to Acquire/Dispose of Real Estate

3 Months Ended

Mar. 31, 2016

Commitments to Acquire Dispose of Real Estate [Abstract]

Commitments To Acquire Dispose Of Real Estate Text Block

5. Commitments to Acquire/Dispose of Real Estate

The Company has not entered into any separate agreements to acquire rental properties or land parcels as of May 5, 2016.

The Company has entered into separate agreements to dispose of the following (sales price in thousands):

	Properties	Apartment Units	Sales Price
Rental Properties	4	772	$	134,450
Land Parcels (three)	—	—	66,550
Total	4	772	$	201,000

The closings of these pending transactions are subject to certain conditions and restrictions, therefore, there can be no assurance that these transactions will be consummated or that the final terms will not differ in material respects from those summarized in the preceding paragraphs.