Real Estate Assets, Net (Tables)

3 Months Ended

Mar. 31, 2020

Real Estate [Abstract]

Single-Family Properties, Net

The net book values of real estate assets consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020		December 31, 2019
Occupied single-family properties	$	7,561,775	$	7,534,627
Single-family properties recently acquired	133,141		88,181
Single-family properties in turnover process	287,079		308,008
Single-family properties leased, not yet occupied	85,380		55,460
Single-family properties in operation, net	8,067,375		7,986,276
Development land	246,438		224,041
Single-family properties under development	161,018		131,386
Single-family properties held for sale, net	172,045		209,828
Total real estate assets, net	$	8,646,876	$	8,551,531

The following table summarizes the Company’s dispositions of single-family properties and land for the three months ended March 31, 2020 and 2019 (in thousands, except property data):

	For the Three Months Ended
	March 31, 2020		March 31, 2019
Single-family properties:
Properties sold	410		180
Net proceeds	$	81,186	$	32,623
Net gain on sale	$	13,758	$	5,579
Land:
Net proceeds	$	71	$	296
Net gain on sale	$	7	$	70