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Real Estate Assets, Net (Tables) | 12 Months Ended
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Dec. 31, 2019
Real Estate [Abstract] |
Schedule of Single-Family Properties | The net book values of real estate assets consisted of the following as of December 31, 2019 and 2018 (in thousands):
| December 31, 2019 |  | December 31, 2018
Occupied single-family properties | $ | 7,534,627 |  |  | $ | 7,448,330 |
Single-family properties recently acquired | 88,181 |  |  | 212,870 |
Single-family properties in turnover process | 308,008 |  |  | 294,093 |
Single-family properties leased, not yet occupied | 55,460 |  |  | 65,304 |
Single-family properties in operation, net | 7,986,276 |  |  | 8,020,597 |
Development land | 224,041 |  |  | 97,207 |
Single-family properties under development | 131,386 |  |  | 56,444 |
Single-family properties held for sale, net | 209,828 |  |  | 318,327 |
Total real estate assets, net | $ | 8,551,531 |  |  | $ | 8,492,575 |
The following table summarizes the Company’s dispositions of single-family properties and land for the years ended December 31, 2019, 2018 and 2017 (in thousands, except property data):
| For the Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Single-family properties: |  |  |  |  |
Properties sold | 1,330 |  |  | 691 |  |  | 923 |
Net proceeds (1) | $ | 248,199 |  |  | $ | 105,394 |  |  | $ | 72,611 |
Net gain on sale | $ | 43,507 |  |  | $ | 16,313 |  |  | $ | 3,573 |
Land: |  |  |  |  |
Net proceeds | $ | 3,205 |  |  | $ | 763 |  |  | $ | — |
Net gain on sale | $ | 366 |  |  | $ | 220 |  |  | $ | — |
(1) Total net proceeds for the years ended December 31, 2019, 2018 and 2017 included $30.7 million, zero and $7.0 million, respectively, of notes receivable, before $1.2 million, zero and $1.5 million, respectively, of discounts, which are presented in escrow deposits, prepaid expenses and other assets (see Note 5).

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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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