Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Inventories
Homesite inventory and other related assets	$ 7,845,178,000
Land and land under development		$ 2,978,807,000
Finished homesites		2,486,483,000
Total inventories	7,845,178,000	5,465,290,000
Cash	66,575,000	0
Option fee receivables	46,635,000
Other assets	15,258,000
Total assets	7,973,646,000	5,465,290,000
Liabilities and stockholders' equity
Accounts payable and accrued expenses		282,730,000
Builder deposits	799,562,000
Debt obligations, net	1,011,162,000	24,188,000
Development guarantee holdback liability	100,000,000
Deferred tax liabilities	56,913,000
Other liabilities	131,760,000
Total liabilities	2,099,397,000	306,918,000
Commitments and contingencies (See Note 8)
Stockholders' equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 0 shares issued at June 30, 2025
Predecessor equity		5,158,372,000
Additional paid-in capital	5,872,687,000
Retained earnings	(98,000)
Total stockholders' equity	5,874,249,000	5,158,372,000
Total liabilities and stockholders' equity	7,973,646,000	5,465,290,000
Class A Common Stock
Stockholders' equity
Common stock value	1,542,000
Class B Common Stock
Stockholders' equity
Common stock value	$ 118,000