Subsequent Events

9 Months Ended

Sep. 30, 2013

Subsequent Events

Subsequent Events

12.  Subsequent Events

The Company has evaluated subsequent events through the date on which this Form 10-Q was filed, the date on which these financial statements were issued, and identified the items below for discussion.

In October 2013, the Company sold Archstone Vanoni Ranch, located in Ventura, CA. Archstone Vanoni Ranch contains 316 homes and was sold for $82,000,000.

Also in October 2013, Fund I sold Avalon Sunset, located in Los Angeles, CA. Avalon Sunset contains 82 homes and was sold for $25,800,000.

In November 2013, the Company sold Avalon on the Sound East, located in New Rochelle, NY. Avalon on the Sound East contains 588 homes and was sold for $210,000,000.