XML 28 R13.htm IDEA: XBRL DOCUMENT v3.22.0.1
Other Assets
 12 Months Ended
Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets Other Assets
The following table summarizes our other assets as of December 31, 2021 and 2020:
$ in thousandsDecember 31, 2021December 31, 2020
Commercial loan, held-for-investment23,515 23,098 
Investments in unconsolidated ventures12,476 16,408 
Prepaid expenses and other assets 1,518 1,657 
Total37,509 41,163 
In March 2021, we agreed to extend the contractual maturity of our commercial loan investment from February 2021 to February 2022 at the request of the borrower. The borrower continues to make current interest payments on the loan and posted additional cash reserves in connection with the loan modification. The loan had a principal balance of $23.9 million as of December 31, 2021 and 2020 and a weighted average coupon rate of 8.60% as of December 31, 2021 and 8.65% as of
December 31, 2020. We recorded unrealized gains of $417,000 and unrealized losses of $1.2 million on this loan in our consolidated statements of operations during the years ended December 31, 2021 and December 31, 2020, respectively.
In February 2022, we received a request from the borrower to extend the contractual maturity of our commercial loan investment to May 29, 2022. Refer to Note 15 - "Subsequent Events" for additional information.
We have invested in unconsolidated ventures that are managed by an affiliate of our Manager. The unconsolidated ventures invest in our target assets. Refer to Note 14 - “Commitments and Contingencies” for additional details regarding our commitments to these unconsolidated ventures.