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Real Estate Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2022
Real Estate [Abstract] |
Single-Family Properties, Net | The net book values of real estate assets consisted of the following as of September 30, 2022 and December 31, 2021 (amounts in thousands):
| September 30, 2022 |  | December 31, 2021
Occupied single-family properties | $ | 9,328,228 |  |  | $ | 8,522,080 |
Single-family properties leased, not yet occupied | 71,963 |  |  | 77,221 |
Single-family properties in turnover process | 284,230 |  |  | 184,170 |
Single-family properties recently renovated or developed | 160,481 |  |  | 126,379 |
Single-family properties newly acquired and under renovation | 60,508 |  |  | 337,643 |
Single-family properties in operation, net | 9,905,410 |  |  | 9,247,493 |
Development land | 641,514 |  |  | 549,653 |
Single-family properties under development | 481,669 |  |  | 332,506 |
Single-family properties held for sale, net | 189,991 |  |  | 114,907 |
Total real estate assets, net | $ | 11,218,584 |  |  | $ | 10,244,559 |
The following table summarizes the Company’s dispositions of single-family properties and land for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except property data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Single-family properties: |  |  |  |  |  |  |
Properties sold | 164 |  |  | 90 |  |  | 530 |  |  | 367 |
Net proceeds (1) | $ | 49,096 |  |  | $ | 26,683 |  |  | $ | 160,156 |  |  | $ | 100,815 |
Net gain on sale | $ | 24,501 |  |  | $ | 10,073 |  |  | $ | 82,193 |  |  | $ | 36,845 |
Land: |  |  |  |  |  |  |
Net proceeds | $ | 1,197 |  |  | $ | 277 |  |  | $ | 3,139 |  |  | $ | 596 |
Net gain (loss) on sale | $ | 70 |  |  | $ | 42 |  |  | $ | 496 |  |  | $ | (97) |
(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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