Equity Residential disposed of the 679-unit Vantage Pointe apartment community in San Diego for about $312.5 million at a sale yield of 4.1%.

The multifamily real estate investment trust fulfilled its obligations on its $750.0 million 4.625% unsecured notes due December 2021 using proceeds from the sale along with cash on hand and borrowings under its commercial paper program.

The REIT said it expects to incur debt extinguishment charges of about $39.1 million, which would impact its EPS and funds from operations per share for 2020 but not its normalized FFO per share.