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Land and Development | 3 Months Ended
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Mar. 31, 2020
Land And Development [Abstract] |
Land and Development | Land and Development The Company's land and development assets were comprised of the following ($ in thousands):
| As of
| March 31, |  | December 31,
| 2020 |  | 2019
Land and land development, at cost | $ | 523,893 |  |  | $ | 590,153 |
Less: accumulated depreciation | (9,829 | ) |  | (9,608 | )
Total land and development, net | $ | 514,064 |  |  | $ | 580,545 |
Dispositions—During the three months ended March 31, 2020 and 2019, the Company sold land parcels and residential lots and units and recognized land development revenue of $80.2 million and $12.7 million, respectively. During the three months ended March 31, 2020 and 2019, the Company recognized land development cost of sales of $77.1 million and $14.4 million, respectively, from its land and development portfolio.

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