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Real Estate Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2020
Real Estate [Abstract] |
Single-Family Properties, Net | The net book values of real estate assets consisted of the following as of September 30, 2020 and December 31, 2019 (in thousands):
| September 30, 2020 |  | December 31, 2019
Occupied single-family properties | $ | 7,935,286 |  |  | $ | 7,534,627 |
Single-family properties recently acquired or developed | 22,830 |  |  | 88,181 |
Single-family properties in turnover process | 139,100 |  |  | 308,008 |
Single-family properties leased, not yet occupied | 61,721 |  |  | 55,460 |
Single-family properties in operation, net | 8,158,937 |  |  | 7,986,276 |
Development land | 241,147 |  |  | 224,041 |
Single-family properties under development | 208,720 |  |  | 131,386 |
Single-family properties held for sale, net | 146,447 |  |  | 209,828 |
Total real estate assets, net | $ | 8,755,251 |  |  | $ | 8,551,531 |
The following table summarizes the Company’s dispositions of single-family properties and land for the three and nine months ended September 30, 2020 and 2019 (in thousands, except property data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Single-family properties: |  |  |  |  |  |  |
Properties sold | 233 |  |  | 341 |  |  | 859 |  |  | 954 |
Net proceeds (1) | $ | 56,150 |  |  | $ | 64,014 |  |  | $ | 184,962 |  |  | $ | 179,465 |
Net gain on sale (2) | $ | 12,422 |  |  | $ | 13,506 |  |  | $ | 36,831 |  |  | $ | 32,655 |
Land: |  |  |  |  |  |  |
Net proceeds | $ | — |  |  | $ | 316 |  |  | $ | 71 |  |  | $ | 1,511 |
Net gain on sale | $ | — |  |  | $ | 15 |  |  | $ | 7 |  |  | $ | 240 |
(1)Total net proceeds for the nine months ended September 30, 2019 included a $30.7 million note receivable, before a $1.2 million discount, which is presented in escrow deposits, prepaid expenses and other assets (see Note 6. Escrow Deposits, Prepaid Expenses and Other Assets). (2)Includes gain or loss on transfers to unconsolidated joint ventures.

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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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