v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Homesites under option contracts $ 9,603,735 $ 8,872,695
Development loan receivables, net 49,812 328,999
Cash 34,171 35,046
Other assets 19,584 21,367
Total assets 9,707,302 9,258,107
Liabilities and stockholders' equity    
Builder deposits 999,761 927,004
Debt obligations, net 2,478,732 2,112,062
Development guarantee holdback liability 100,000 100,000
Deferred tax liabilities 84,554 77,333
Other liabilities 192,419 185,446
Total liabilities 3,855,466 3,401,845
Commitments and contingencies (See Note 9)
Stockholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 0 shares issued at June 30, 2026
Additional paid-in capital 5,873,916 5,873,087
Distribution in excess of net income (23,740) (18,485)
Total stockholders' equity 5,851,836 5,856,262
Total liabilities and stockholders' equity 9,707,302 9,258,107
Class A Common Stock    
Stockholders' equity    
Common stock value 1,542 1,542
Class B Common Stock    
Stockholders' equity    
Common stock value $ 118 $ 118