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SINGLE-FAMILY RENTAL PROPERTIES (Tables)
 3 Months Ended
Mar. 31, 2024
Real Estate [Abstract]  
Schedule of Net Carrying Value of Investments in SFR Properties
The following table summarizes the net carrying value of investments in SFR properties.
March 31, 2024December 31, 2023
Land$185,446 $183,359 
Building741,785 733,437 
Capital improvements141,288 138,869 
Total gross investment in SFR properties1,068,519 1,055,665 
Accumulated depreciation(61,347)(53,737)
Investment in SFR properties, net$1,007,172 $1,001,928 
Schedule of Activity Related to the Net Carrying Value of Investments in SFR Properties and by Units
The following table summarizes the activity for the period related to the net carrying value of investments in SFR properties:
SFR Properties HFISFR Properties HFSTotal
Balance at December 31, 2023$1,000,357 $1,571 $1,001,928 
Acquisitions and capital improvements15,249 — 15,249 
Transfers to HFS(150)150 — 
Dispositions(1,140)(1,123)(2,263)
Accumulated depreciation(7,660)(82)(7,742)
Balance at March 31, 2024$1,006,656 $516 $1,007,172 
The following table summarizes the activity for the period of the SFR portfolio by units:
SFR Properties HFISFR Properties HFSTotal
Balance at December 31, 20233,882 6 3,888 
Acquisition of SFR units48 — 48 
Transfer to HFS(1)1 — 
Disposition of SFR units(4)(4)(8)
Balance at March 31, 20243,925 3 3,928 
Schedule of Future Minimum Rental Revenues Under Existing Leases on SFR Properties The following table summarizes the future minimum rental revenues under existing leases on SFR properties:
Remainder of 2024$36,521 
2025 and thereafter9,217 
Total$45,738