Real Estate Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

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.