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Real Estate Assets, Net (Tables) | 6 Months Ended
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Jun. 30, 2023
Real Estate [Abstract] |
Single-Family Properties, Net | The net book values of real estate assets consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands):
| June 30, 2023 |  | December 31, 2022
Occupied single-family properties | $ | 9,583,609 |  |  | $ | 9,419,098 |
Single-family properties leased, not yet occupied | 80,120 |  |  | 52,325 |
Single-family properties in turnover process | 264,493 |  |  | 281,356 |
Single-family properties recently renovated or developed | 79,068 |  |  | 182,336 |
Single-family properties newly acquired and under renovation | — |  |  | 3,557 |
Single-family properties in operation, net | 10,007,290 |  |  | 9,938,672 |
Development land | 588,510 |  |  | 631,539 |
Single-family properties under development | 750,998 |  |  | 555,682 |
Single-family properties and land held for sale, net | 154,190 |  |  | 198,716 |
Total real estate assets, net | $ | 11,500,988 |  |  | $ | 11,324,609 |
The following table summarizes the Company’s dispositions of single-family properties and land for the three and six months ended June 30, 2023 and 2022 (amounts in thousands, except property data):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Single-family properties: |  |  |  |  |  |  |
Properties sold | 415 |  |  | 197 |  |  | 1,081 |  |  | 366 |
Net proceeds (1) | $ | 126,795 |  |  | $ | 60,801 |  |  | $ | 310,379 |  |  | $ | 111,060 |
Net gain on sale | $ | 62,622 |  |  | $ | 33,147 |  |  | $ | 148,325 |  |  | $ | 57,692 |
Land: |  |  |  |  |  |  |
Net proceeds | $ | 573 |  |  | $ | 794 |  |  | $ | 1,499 |  |  | $ | 1,942 |
Net gain on sale | $ | 135 |  |  | $ | 148 |  |  | $ | 169 |  |  | $ | 426 |
(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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