Related Party Transactions

6 Months Ended

Jun. 30, 2025

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

SH Residential Holdings, LLC and affiliates are considered a related party for the period subsequent to the Merger closing on April 19, 2024. As of December 31, 2024, the Company had accounts receivable due from Parent of $22.2 million related to payments in connection with the Merger funded by the Company that are included within Accounts receivable due from Parent in the Consolidated Balance Sheets. There was no amount outstanding as of June 30, 2025.

Further, within Total inventories in the Consolidated Balance Sheet is $78.0 million of land purchased by the Company from affiliates of SH Residential Holdings, LLC as of June 30, 2025. The Company sold lots acquired from affiliates of SH Residential Holdings, LLC resulting in $22.3 million and $27.9 million of home sales revenues as well as gross margin of $3.0 million and $3.8 million during the three and six months ended June 30, 2025, respectively. The Company sold $8.4 million of land to affiliates of SH Residential Holdings, LLC for no gain or loss during the six months ended June 30, 2025.