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Subsequent Events | 9 Months Ended
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Sep. 30, 2024
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Subsequent Acquisitions In October 2024, the Company acquired a portfolio of 1,673 single-family properties located in 13 markets across the United States for $479.8 million. The Company funded the transaction through a combination of cash on hand and its previously undrawn revolving credit facility. The Company also added 158 properties to its portfolio, which included 156 newly constructed properties delivered through our AMH Development Program and two properties acquired through our traditional acquisition channel, for a total cost of approximately $61.3 million during the period October 1, 2024 through October 23, 2024. Subsequent Dispositions From October 1, 2024 through October 23, 2024, the Company disposed of 97 properties for aggregate net proceeds of approximately $28.5 million. Revolving Credit Facility From October 1, 2024 through October 25, 2024, the Company borrowed $400.0 million and paid down $100.0 million under its revolving credit facility, resulting in $300.0 million of outstanding borrowings under its revolving credit facility as of October 25, 2024. March 2024 Forward Sale Agreement Settlement In October 2024, the Company issued and physically settled 2,987,024 Class A common shares under its March 2024 Forward Sale Agreement, receiving net proceeds of $109.8 million. See Note 10. Shareholders’ Equity / Partners’ Capital. Hurricane Milton In October 2024, Hurricane Milton impacted certain properties in our Florida market for minor repair and remediation costs that were not subject to the Company’s property and casualty insurance policies. The Company is still assessing damages but preliminarily we expect to record a hurricane-related charge in the range of $3 million to $4 million in the fourth quarter of 2024.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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