XML 28 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

Real Estate Assets, Net | 6 Months Ended
--- | ---
Jun. 30, 2021
Real Estate [Abstract] |
Real Estate Assets, Net | Real Estate Assets, Net The net book values of real estate assets consisted of the following as of June 30, 2021 and December 31, 2020 (in thousands):
| June 30, 2021 |  | December 31, 2020
Occupied single-family properties | $ | 8,223,674 |  |  | $ | 7,957,513 |
Single-family properties recently acquired or developed | 134,991 |  |  | 66,857 |
Single-family properties in turnover process | 89,091 |  |  | 149,684 |
Single-family properties leased, not yet occupied | 98,896 |  |  | 71,334 |
Single-family properties in operation, net | 8,546,652 |  |  | 8,245,388 |
Development land | 325,543 |  |  | 270,767 |
Single-family properties under development | 322,436 |  |  | 239,598 |
Single-family properties held for sale, net | 107,363 |  |  | 129,026 |
Total real estate assets, net | $ | 9,301,994 |  |  | $ | 8,884,779 |
Depreciation expense related to single-family properties was $87.4 million and $81.6 million for the three months ended June 30, 2021 and 2020, respectively, and $173.7 million and $161.4 million for the six months ended June 30, 2021 and 2020, respectively. The following table summarizes the Company’s dispositions of single-family properties and land for the three and six months ended June 30, 2021 and 2020 (in thousands, except property data):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Single-family properties: |  |  |  |  |  |  |
Properties sold | 97 |  |  | 216 |  |  | 277 |  |  | 626 |
Net proceeds (1) | $ | 28,092 |  |  | $ | 47,626 |  |  | $ | 74,132 |  |  | $ | 128,812 |
Net gain on sale | $ | 11,422 |  |  | $ | 10,651 |  |  | $ | 26,772 |  |  | $ | 24,409 |
Land: |  |  |  |  |  |  |
Net proceeds | $ | 55 |  |  | $ | — |  |  | $ | 319 |  |  | $ | 71 |
Net (loss) gain on sale | $ | (62) |  |  | $ | — |  |  | $ | (139) |  |  | $ | 7 |
(1)Net proceeds are net of deductions for working capital prorations.

X
- References No definition available. + Details
Name: | us-gaap_RealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
Name: | us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration