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Real Estate Assets, Net (Tables) | 3 Months Ended
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Mar. 31, 2022
Real Estate [Abstract] |
Single-Family Properties, Net | The net book values of real estate assets consisted of the following as of March 31, 2022 and December 31, 2021 (amounts in thousands):
| March 31, 2022 |  | December 31, 2021
Occupied single-family properties | $ | 8,814,850 |  |  | $ | 8,522,080 |
Single-family properties leased, not yet occupied | 110,242 |  |  | 77,221 |
Single-family properties in turnover process | 180,864 |  |  | 184,170 |
Single-family properties recently renovated or developed | 137,759 |  |  | 126,379 |
Single-family properties newly acquired and under renovation | 314,471 |  |  | 337,643 |
Single-family properties in operation, net | 9,558,186 |  |  | 9,247,493 |
Development land | 612,237 |  |  | 549,653 |
Single-family properties under development | 359,797 |  |  | 332,506 |
Single-family properties held for sale, net | 140,627 |  |  | 114,907 |
Total real estate assets, net | $ | 10,670,847 |  |  | $ | 10,244,559 |
The following table summarizes the Company’s dispositions of single-family properties and land for the three months ended March 31, 2022 and 2021 (amounts in thousands, except property data):
| For the Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Single-family properties: |  |  |  |  |  |  |
Properties sold | 169 |  |  | 180 |  |  |  |  |
Net proceeds (1) | $ | 50,259 |  |  | $ | 46,040 |  |  |  |  |
Net gain on sale | $ | 24,545 |  |  | $ | 15,350 |  |  |  |  |
Land: |  |  |  |  |  |  |
Net proceeds | $ | 1,148 |  |  | $ | 264 |  |  |  |  |
Net gain (loss) on sale | $ | 278 |  |  | $ | (77) |  |  |  |  |
(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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