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Real Estate Assets, Net (Tables)

3 Months Ended

Mar. 31, 2021

Real Estate [Abstract]

Single-Family Properties, Net

The net book values of real estate assets consisted of the following as of March 31, 2021 and December 31, 2020 (in thousands):

			March 31, 2021						December 31, 2020
Occupied single-family properties			$	8,100,087					$	7,957,513
Single-family properties recently acquired or developed			43,333						66,857
Single-family properties in turnover process			111,806						149,684
Single-family properties leased, not yet occupied			74,940						71,334
Single-family properties in operation, net			8,330,166						8,245,388
Development land			303,653						270,767
Single-family properties under development			251,112						239,598
Single-family properties held for sale, net			115,994						129,026
Total real estate assets, net			$	9,000,925					$	8,884,779

The following table summarizes the Company’s dispositions of single-family properties and land for the three months ended March 31, 2021 and 2020 (in thousands, except property data):

			For the Three Months Ended March 31,
			2021						2020
Single-family properties:
Properties sold			180						410
Net proceeds (1)			$	46,040					$	81,186
Net gain on sale			$	15,350					$	13,758
Land:
Net proceeds			$	264					$	71
Net (loss) gain on sale			$	(77)					$	7

(1)Net proceeds are net of deductions for working capital prorations.

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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.

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