XML 56 R44.htm IDEA: XBRL DOCUMENT v3.22.2
SINGLE-FAMILY RENTAL PROPERTIES (Tables)
 6 Months Ended
Jun. 30, 2022
Real Estate [Abstract]  
Schedule of Single-Family Rental Properties The following table summarizes the net carrying value of investments in single-family rental (“SFR”) properties:
June 30, 2022December 31, 2021
Land$170,055 $109,152 
Building680,219 436,610 
Capital improvements90,314 40,655 
Total gross investment in SFR properties940,588 586,417 
Accumulated depreciation(13,361)(6,810)
Investment in SFR properties, net$927,227 $579,607 
Schedule of Activity in Single-Family Rental Properties
The following table summarizes the activity related to the net carrying value of investments in SFR properties:
Balance at December 31, 2021$579,607 
Acquisitions and capital improvements354,792 
Dispositions(621)
Accumulated depreciation(6,551)
Balance at June 30, 2022$927,227 
The following table summarizes the activity of the SFR portfolio by units:
Balance at December 31, 20212,551 
Acquisition of SFR units1,059 
Disposition of SFR units(2)
Reclassifications to SFR properties, held for sale— 
Balance at June 30, 20223,608 
Schedule of Future Minimum Rental Revenues The following table summarizes our future minimum rental revenues under existing leases on SFR properties:
2022$38,937 
2023 and thereafter15,675 
Total$54,612