38 unchanged sentences
Management is responsible for approving budgets, approving cybersecurity processes, and reviewing cybersecurity assessments and other cybersecurity-related matters.
−Removed: As of December 31, 2023, we held eighteen real estate investments, consisting of eleven consolidated investments and seven held through preferred equity and loan investments.
+Added: As of December 31, 2024, we held twenty-three real estate investments, consisting of fourteen consolidated investments and nine held through preferred equity and loan investments.
The following tables provide summary information regarding our consolidated investments and preferred equity and loan investments.
Consolidated Investments
+Added: Excluding Held for
Operating Investment Name
Market / Location
+Added: All Units (3)
+Added: Sale/Reno Units (4)
+Added: Scattered Single-Family Homes
Golden Pacific
−Removed: Indy-Springfield, formerly Peak JV 1
−Removed: Navigator Villas
+Added: Indy-Springfield
Dallas-Fort Worth, TX
−Removed: Savannah-84, formerly Peak JV 4
+Added: Total Scattered Single-Family Homes / Average
+Added: Residential Communities
+Added: Allure at Southpark
+Added: Charlotte, NC
+Added: Amira at Westly
+Added: Avenue at Timberlin Park
+Added: Jacksonville, FL
+Added: Villas at Huffmeister
Wayford at Concord
Yauger Park Villas
+Added: Total Residential Communities Units / Average
Total Operating Units / Average
Development Investment Name
−Removed: Abode Wendell Falls (4)
+Added: Residential Communities
+Added: Abode Wendell Fall (5)
Total Development Units
−Removed: (1) Total operating units includes an aggregate of 118 units classified as held for sale and includes the following portfolios:
−Removed: 35 units in Indy-Springfield, 13 units in Peak JV 2, and 70 units in Peak JV 3.
+Added: (1) Total operating units includes an aggregate of 167 units classified as held for sale, with such units included in the following portfolios:
+Added: 8 units of ILE, 37 units of Indy-Springfield, 32 units of Peak JV 2, and all 90 units of Peak JV 3.
(2) Represents the average of the ending average effective rent per occupied unit as of the last day of each month in the three months ended December 31, 2024.
(3) Percent occupied is calculated as (i) the number of units occupied as of December 31, 2024 divided by (ii) total number of units, expressed as a percentage.
−Removed: Percent occupied excludes an aggregate of 60 down/renovation units.
−Removed: (4) Abode Wendell Falls is a build to rent development project expected to commence construction in the second quarter 2024.
−Removed: The total estimated project cost is $56.0 million, of which $6.5 million was incurred as of December 31, 2023.
+Added: (4) Percent occupied is calculated as (i) the number of units occupied as of December 31, 2024 divided by (ii) total number of units, expressed as a percentage, and excludes 167 units classified as held for sale and an aggregate of 7 down/renovation units.
+Added: (5) Abode Wendell Falls is a build-to-rent development project that commenced construction in 2024.
Preferred Equity and Loan Investments
5 unchanged sentences
Cost Per Unit
−Removed: The Woods at Forest Hill
−Removed: Forest Hill, TX
Willow Park, TX
1 unchanged sentence
Myrtle Beach, SC
−Removed: The Cottages of Port St.
+Added: The Cottage of Port St.
Wayford at Innovation Park (3)
Charlotte, NC
+Added: Wayford at Pringle
+Added: Charlotte, NC
Total Lease-up Units
Development Investment Name (4)
+Added: Brunswick, GA
+Added: Canvas at Wildwood
Total Development Units
−Removed: Operating Investment Name
−Removed: Number of Units
−Removed: Average Rent (1)
−Removed: Peak Housing (2)
−Removed: Total Operating Units
Total Units/Average
−Removed: (1) For lease-up and development investments, represents the average pro forma effective monthly rent per occupied unit for all expected occupied units upon stabilization.
−Removed: For operating investments, represents the average effective monthly rent per occupied unit for the three months ended December 31, 2023.
−Removed: (2) Peak Housing is a stabilized operating portfolio and the number of units shown represents those collateralizing our preferred equity investment in the Peak REIT OP as of December 31,2023 (refer to Note 8 of our combined consolidated financial statements for further information).
−Removed: Unit count excludes units presented in the consolidated investments table above.
+Added: (1) Represents the average pro forma effective monthly rent per occupied unit for all expected occupied units upon stabilization.
+Added: (2) Chandler commenced lease-up in June 2024.
+Added: (3) Wayford at Innovation Park commenced lease-up in August 2023.
+Added: (4) None of the development investments had commenced lease-up as of December 31, 2024.
Legal Proceedings
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.