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Real Estate Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2021
Real Estate [Abstract] |
Single-Family Properties, Net | The net book values of real estate assets consisted of the following as of September 30, 2021 and December 31, 2020 (in thousands):
| September 30, 2021 |  | December 31, 2020
Occupied single-family properties | $ | 8,369,911 |  |  | $ | 7,957,513 |
Single-family properties recently acquired or developed | 360,595 |  |  | 66,857 |
Single-family properties in turnover process | 127,221 |  |  | 149,684 |
Single-family properties leased, not yet occupied | 97,373 |  |  | 71,334 |
Single-family properties in operation, net | 8,955,100 |  |  | 8,245,388 |
Development land | 395,385 |  |  | 270,767 |
Single-family properties under development | 337,875 |  |  | 239,598 |
Single-family properties held for sale, net | 106,232 |  |  | 129,026 |
Total real estate assets, net | $ | 9,794,592 |  |  | $ | 8,884,779 |
The following table summarizes the Company’s dispositions of single-family properties and land for the three and nine months ended September 30, 2021 and 2020 (in thousands, except property data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Single-family properties: |  |  |  |  |  |  |
Properties sold | 90 |  |  | 233 |  |  | 367 |  |  | 859 |
Net proceeds (1) | $ | 26,683 |  |  | $ | 56,150 |  |  | $ | 100,815 |  |  | $ | 184,962 |
Net gain on sale | $ | 10,073 |  |  | $ | 12,422 |  |  | $ | 36,845 |  |  | $ | 36,831 |
Land: |  |  |  |  |  |  |
Net proceeds | $ | 277 |  |  | $ | — |  |  | $ | 596 |  |  | $ | 71 |
Net gain (loss) on sale | $ | 42 |  |  | $ | — |  |  | $ | (97) |  |  | $ | 7 |
(1)Net proceeds are net of deductions for working capital prorations.

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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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