Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Single-family properties:
Land	$ 2,225,477	$ 2,197,233
Buildings and improvements	10,545,835	10,127,891
Single-family properties in operation	12,771,312	12,325,124
Less: accumulated depreciation	(2,639,127)	(2,386,452)
Single-family properties in operation, net	10,132,185	9,938,672
Single-family properties under development and development land	1,334,992	1,187,221
Single-family properties and land held for sale, net	160,328	198,716
Total real estate assets, net	11,627,505	11,324,609
Cash and cash equivalents	69,514	69,155
Restricted cash	173,133	148,805
Rent and other receivables	53,773	47,752
Escrow deposits, prepaid expenses and other assets	372,157	331,446
Investments in unconsolidated joint ventures	117,350	107,347
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,279
Total assets	12,559,377	12,175,059
Liabilities
Revolving credit facility	0	130,000
Asset-backed securitizations, net	1,876,087	1,890,842
Unsecured senior notes, net	2,498,959	2,495,156
Accounts payable and accrued expenses	633,795	484,403
Total liabilities	5,008,841	5,000,401
Commitments and contingencies (see Note 15)
Shareholders’ equity:
Preferred shares ($0.01 par value per share, 100,000,000 shares authorized, 9,200,000 shares issued and outstanding at September 30, 2023 and December 31, 2022)	92	92
Additional paid-in capital	7,251,465	6,931,819
Accumulated deficit	(391,452)	(440,791)
Accumulated other comprehensive income	965	1,332
Total shareholders’ equity	6,864,690	6,495,987
Noncontrolling interest	685,846	678,671
Total equity	7,550,536	7,174,658
Total liabilities and equity/capital	12,559,377	12,175,059
Class A common shares
Shareholders’ equity:
Common stock issued	3,614	3,529
Class B common shares
Shareholders’ equity:
Common stock issued	$ 6	$ 6