Home Properties, Inc. (Home Properties) is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires, develops and rehabilitates apartment communities. The Company conducts its business through Home Properties, L.P. (the Operating Partnership), a New York limited partnership, and a management company, Home Properties Resident Services, Inc. (HPRS), which is a Maryland corporation. At December 31, 2012, the Company held 83.2% of the limited partnership units in the Operating Partnership (UPREIT Units). Home Properties, through its affiliates described above, as of December 31, 2012, owned and operated 121 communities with 42,635 apartment units (the Communities or the Properties). In February 2014, the Company announced that it has completed the sale of Cider Mill, a property containing 864 apartment units located in Montgomery Village, Md.