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Real Estate Assets, Net (Tables) | 12 Months Ended
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Dec. 31, 2023
Real Estate [Abstract] |
Summary of Single-Family Properties | The net book values of real estate assets consisted of the following as of December 31, 2023 and 2022 (amounts in thousands):
| December 31, 2023 |  | December 31, 2022
Occupied single-family properties | $ | 9,595,421 |  |  | $ | 9,419,098 |
Single-family properties leased, not yet occupied | 54,481 |  |  | 52,325 |
Single-family properties in turnover process | 370,856 |  |  | 281,356 |
Single-family properties recently renovated or developed | 140,962 |  |  | 182,336 |
Single-family properties newly acquired and under renovation | 3,999 |  |  | 3,557 |
Single-family properties in operation, net | 10,165,719 |  |  | 9,938,672 |
Development land | 563,718 |  |  | 631,539 |
Single-family properties under development | 845,706 |  |  | 555,682 |
Single-family properties and land held for sale, net | 182,082 |  |  | 198,716 |
Total real estate assets, net | $ | 11,757,225 |  |  | $ | 11,324,609 |
The following table summarizes the Company’s dispositions of single-family properties and land for the years ended December 31, 2023, 2022 and 2021 (amounts in thousands, except property data):
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Single-family properties: |  |  |  |  |
Properties sold | 1,546 |  |  | 987 |  |  | 481 |
Net proceeds (1) | $ | 459,580 |  |  | $ | 288,030 |  |  | $ | 130,825 |
Net gain on sale | $ | 217,598 |  |  | $ | 140,537 |  |  | $ | 50,543 |
Land: |  |  |  |  |
Net proceeds | $ | 9,883 |  |  | $ | 4,479 |  |  | $ | 1,247 |
Net (loss) gain on sale | $ | (2,017) |  |  | $ | 777 |  |  | $ | 136 |
(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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