12. Real Estate Acquisitions and Dispositions

Acquisitions

During the six months ended June 30, 2026 and 2025, the Company did not acquire any multifamily apartment communities.

In April, February and January 2026, the Company acquired eleven acres of land in Nashville, Tennessee for approximately $16 million, four acres of land in Kansas City, Kansas for approximately $5 million and two acres of land in Arlington, Virginia for approximately $20 million, respectively.

In June 2025, the Company acquired a 19-acre land parcel in Charleston, South Carolina for approximately $9 million.

Dispositions

In May and February 2026, the Company closed on the dispositions of a 194-unit multifamily apartment community located in Raleigh, North Carolina for net proceeds of approximately $40 million, resulting in a gain on the sale of depreciable real estate assets of approximately $35 million, and a 316-unit multifamily apartment community located in Houston, Texas for net proceeds of approximately $41 million, resulting in a gain on the sale of depreciable real estate assets of approximately $20 million, respectively.

In March 2025, the Company closed on the dispositions of a 336-unit and a 240-unit multifamily apartment community located in Columbia, South Carolina for net proceeds of approximately $81 million, resulting in a gain on the sale of depreciable real estate assets of approximately $72 million.

During the six months ended June 30, 2026 and 2025, the Company did not dispose of any land parcels.