Real Estate (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate [Abstract]

Schedule of real estate assets

The Company’s real estate assets were comprised of the following ($ in thousands):

	Net		Operating
	Lease(1)		Properties		Total
As of September 30, 2021
Land, at cost	$	188,418	$	6,830	$	195,248
Buildings and improvements, at cost		1,355,984		106,634		1,462,618
Less: accumulated depreciation		(280,521)		(20,421)		(300,942)
Real estate, net(1)		1,263,881		93,043		1,356,924
Real estate available and held for sale(2)		—		1,983		1,983
Total real estate	$	1,263,881	$	95,026	$	1,358,907
As of December 31, 2020
Land, at cost	$	188,418	$	103,530	$	291,948
Buildings and improvements, at cost		1,353,683		106,422		1,460,105
Less: accumulated depreciation		(250,198)		(17,574)		(267,772)
Real estate, net(1)		1,291,903		192,378		1,484,281
Real estate available and held for sale(2)		—		5,212		5,212
Total real estate	$	1,291,903	$	197,590	$	1,489,493

(1) As of September 30, 2021 and December 31, 2020, real estate, net included $741.6 million and $755.5 million, respectively, of real estate of the Net Lease Venture (refer to Net Lease Venture below).

(2) As of September 30, 2021 and December 31, 2020, the Company had $2.0 million and $5.2 million, respectively, of residential condominiums available for sale in its operating properties portfolio.

Schedule of future minimum lease payments to be collected under non-cancelable operating leases

	Net		Operating
Year	Lease		Properties
2021 (remaining three months)	$	32,800	$	1,455
2022		133,616		6,226
2023		125,330		5,966
2024		119,714		5,913
2025		123,248		5,318
Thereafter		1,385,609		7,825