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Real Estate Assets, Net (Tables)

6 Months Ended

Jun. 30, 2021

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

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.