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Real Estate Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2023
Real Estate [Abstract] |
Single-Family Properties, Net | The net book values of real estate assets consisted of the following as of September 30, 2023 and December 31, 2022 (amounts in thousands):
| September 30, 2023 |  | December 31, 2022
Occupied single-family properties | $ | 9,627,171 |  |  | $ | 9,419,098 |
Single-family properties leased, not yet occupied | 60,392 |  |  | 52,325 |
Single-family properties in turnover process | 320,204 |  |  | 281,356 |
Single-family properties recently renovated or developed | 121,775 |  |  | 182,336 |
Single-family properties newly acquired and under renovation | 2,643 |  |  | 3,557 |
Single-family properties in operation, net | 10,132,185 |  |  | 9,938,672 |
Development land | 575,514 |  |  | 631,539 |
Single-family properties under development | 759,478 |  |  | 555,682 |
Single-family properties and land held for sale, net | 160,328 |  |  | 198,716 |
Total real estate assets, net | $ | 11,627,505 |  |  | $ | 11,324,609 |
The following table summarizes the Company’s dispositions of single-family properties and land for the three and nine months ended September 30, 2023 and 2022 (amounts in thousands, except property data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Single-family properties: |  |  |  |  |  |  |
Properties sold | 224 |  |  | 164 |  |  | 1,305 |  |  | 530 |
Net proceeds (1) | $ | 71,664 |  |  | $ | 49,096 |  |  | $ | 382,043 |  |  | $ | 160,156 |
Net gain on sale | $ | 35,453 |  |  | $ | 24,501 |  |  | $ | 183,778 |  |  | $ | 82,193 |
Land: |  |  |  |  |  |  |
Net proceeds | $ | 801 |  |  | $ | 1,197 |  |  | $ | 2,300 |  |  | $ | 3,139 |
Net gain on sale | $ | 195 |  |  | $ | 70 |  |  | $ | 364 |  |  | $ | 496 |
(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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