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Land and Development

3 Months Ended

Mar. 31, 2021

The Company's land and development assets were comprised of the following ($ in thousands):


	As of
	March 31,		December 31,
	2021		2020
Land and land development, at cost	$	417,537	$	441,201
Less: accumulated depreciation	(10,756)		(10,538)
Total land and development, net	$	406,781	$	430,663

Dispositions—During the three months ended March 31, 2021 and 2020, the Company sold land parcels and residential lots and units and recognized land development revenue of $32.2 million and $80.2 million, respectively. During the three months ended March 31, 2021 and 2020, the Company recognized land development cost of sales of $29.3 million and $77.1 million, respectively, from its land and development portfolio.