v3.26.1
Other Assets (Tables)
 6 Months Ended
Jun. 30, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Assets
As of June 30, 2026 and December 31, 2025, the balances in other assets, net are as follows:
June 30,
2026		December 31, 2025
Receivables, net:
Rent receivables
$29,591 $31,772 
Homebuilding receivables and contract assets
25,888 — 
Construction and development loan receivables
29,317 6,032 
Other receivables
14,489 28,407 
Total receivables, net
99,285 66,211 
Held for sale assets(1)
103,335 58,563 
Investments in equity and other securities64,758 63,122 
Prepaid expenses58,991 56,278 
Corporate fixed assets, net57,867 56,613 
Investments in debt securities, net55,147 54,972 
ROU lease assets — operating and finance, net55,068 45,949 
Intangible assets other than goodwill54,318 19,428 
Derivative instruments (Note 8)37,276 14,354 
Land and construction in progress
28,512 23,839 
Amounts deposited and held by others17,860 39,419 
Other37,764 39,287 
Total$670,181 $538,035 
(1)As of June 30, 2026 and December 31, 2025, 431 and 278 properties, respectively, are classified as held for sale.
Schedule of Future Minimum Lease Payments
Future minimum rental revenues and other property income under leases on our single-family residential properties in place as of June 30, 2026 are as follows:
YearLease Payments
to be Received
Remainder of 2026
$1,010,663 
2027742,777 
202865,531 
2029
— 
2030— 
Thereafter— 
Total$1,818,971 
Schedule of Investments in Equity and Other Securities As of June 30, 2026 and December 31, 2025, the values of our investments in equity and other securities are as follows:
June 30,
2026		December 31, 2025
Investments without a readily determinable fair value$64,271 $62,296 
Investments with a readily determinable fair value487 826 
Total$64,758 $63,122 
Schedule of Gross Carrying Amount and Accumulated Amortization
The following table presents the gross carrying amount and accumulated amortization, calculated using the straight‑line method over the estimated useful lives, in total and by major class of intangible assets, as of June 30, 2026 and December 31, 2025:
June 30, 2026
Gross Carrying Amount
Accumulated Amortization
Net Intangible Assets
Amortization Period
Customer relationships(1)
$32,000 $(3,307)$28,693 
 4 — 5 years
Trade name(1)
8,000 (465)7,535 
8 years
Property and asset management contracts
24,244 (6,154)18,090 
5 — 10 years
Total$64,244 $(9,926)$54,318 
December 31, 2025
Gross Carrying Amount
Accumulated Amortization
Net Intangible Assets
Amortization Period
Property and asset management contracts
$24,244 $(4,816)$19,428 
5 — 10 years
(1)We recorded $40,000 of intangible assets in connection with the acquisition of ResiBuilt (as defined in Note 16) in January 2026.
Schedule of Expected Future Amortization Expense for Intangible Assets The expected future amortization expense for intangible assets as of June 30, 2026 are as follows:
Year
Amortization
Remainder of 2026
$5,393 
202710,787 
202810,787 
2029
10,329 
20306,985 
Thereafter10,037 
Total$54,318 
Schedule of Supplemental Information Related to Leases
The following table presents supplemental information related to leases into which we have entered as a lessee as of June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
Operating
Leases		Finance
Leases		Operating
Leases		Finance
Leases
Other assets$36,213 $18,855 $32,133 $13,816 
Other liabilities (Note 14)40,567 18,442 35,494 13,512 
Weighted average remaining lease term8.8 years3.1 years9.1 years3.1 years
Weighted average discount rate5.7%5.8%5.7%5.9%
The components of lease expense for the three and six months ended June 30, 2026 and 2025 are as follows:
For the Three Months
Ended June 30,
For the Six Months
Ended June 30,
2026202520262025
Operating lease cost:
Fixed lease cost$1,674 $1,374 $3,250 $2,666 
Variable lease cost421 442 987 778 
Total operating lease cost$2,095 $1,816 $4,237 $3,444 
Finance lease cost:
Amortization of ROU assets$1,675 $1,016 $3,211 $1,956 
Interest on lease liabilities268 149509 277 
Total finance lease cost$1,943 $1,165 $3,720 $2,233