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3. RECENT REAL ESTATE TRANSACTIONS
Acquisitions during the three months ended March 31, 2026:
| | • | The Company acquired no model homes or commercial properties. |
Acquisitions during the three months ended March 31, 2025:
| | • | The Company acquired 12 model homes for approximately $4.3 million. The purchase price was paid through cash payments of approximately $3.0 million and mortgage notes of approximately $1.3 million. |
Dispositions during the three months ended March 31, 2026:
| | • | On January 14, 2026, the Company sold one commercial property, Dakota Center, to a single buyer for approximately $4.7 million, net of selling costs, and recognized a net gain on the disposition of the assets and liabilities of approximately $3.4 million. |
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| | • | The Company sold 5 model homes for approximately $2.3 million, net of sales costs, and recognized a gain of approximately $0.2 million. |
Dispositions during the three months ended March 31, 2025:
| | • | The Company sold 6 model homes for approximately $2.8 million, net of sales costs, and recognized a gain of approximately $0.2 million. |
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| | • | On February 6, 2025 the Company sold two commercial properties, Union Town Center and Research Parkway, to a single buyer for approximately $15.9 million, net of selling costs, and recognized a net gain of approximately $4.5 million net of closing costs |
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