XML 38 R19.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Real Estate Assets, Net | 12 Months Ended
--- | ---
Dec. 31, 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 December 31, 2021 and 2020 (in thousands):
| December 31, 2021 |  | December 31, 2020
Occupied single-family properties | $ | 8,522,080 |  |  | $ | 7,957,513 |
Single-family properties leased, not yet occupied | 77,221 |  |  | 71,334 |
Single-family properties in turnover process | 184,170 |  |  | 150,032 |
Single-family properties recently renovated or developed | 126,379 |  |  | 26,102 |
Single-family properties newly acquired and under renovation | 337,643 |  |  | 40,407 |
Single-family properties in operation, net | 9,247,493 |  |  | 8,245,388 |
Development land | 549,653 |  |  | 270,767 |
Single-family properties under development | 332,506 |  |  | 239,598 |
Single-family properties held for sale, net | 114,907 |  |  | 129,026 |
Total real estate assets, net | $ | 10,244,559 |  |  | $ | 8,884,779 |
Depreciation expense related to single-family properties was $357.8 million, $330.2 million and $313.7 million for the years ended December 31, 2021, 2020 and 2019, respectively. The following table summarizes the Company’s dispositions of single-family properties and land for the years ended December 31, 2021, 2020 and 2019 (in thousands, except property data):
| For the Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Single-family properties: |  |  |  |  |
Properties sold | 481 |  |  | 1,047 |  |  | 1,330 |
Net proceeds (1)(2) | $ | 130,825 |  |  | $ | 228,495 |  |  | $ | 248,199 |
Net gain on sale | $ | 50,543 |  |  | $ | 47,187 |  |  | $ | 43,507 |
Land: |  |  |  |  |
Net proceeds | $ | 1,247 |  |  | $ | 71 |  |  | $ | 3,205 |
Net gain on sale | $ | 136 |  |  | $ | 7 |  |  | $ | 366 |
(1)Total net proceeds for the year ended December 31, 2019 included a $30.7 million note receivable, before a $1.2 million discount, which is presented in escrow deposits, prepaid expenses and other assets (see Note 5. Escrow Deposits, Prepaid Expenses and Other Assets). (2)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