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, 2021December 31, 2020
Occupied single-family properties$8,223,674 $7,957,513 
Single-family properties recently acquired or developed134,991 66,857 
Single-family properties in turnover process89,091 149,684 
Single-family properties leased, not yet occupied98,896 71,334 
Single-family properties in operation, net8,546,652 8,245,388 
Development land325,543 270,767 
Single-family properties under development322,436 239,598 
Single-family properties held for sale, net107,363 129,026 
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,
2021202020212020
Single-family properties:
Properties sold97 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.