Properties (Tables)

3 Months Ended

Mar. 31, 2016

Properties

Summary of properties

	Depreciable Life	March 31, 2016		December 31, 2015
Property Segment
Land	—	$	295,345	$	236,545
Land improvements	5 – 10 years		19,900		11,044
Buildings	30 – 40 years		661,113		516,117
Furniture & fixtures	3 – 7 years		19,592		11,980
Investing and Servicing Segment
Land	—		49,736		39,103
Buildings	20 – 40 years		120,718		110,815
Building improvements	7 – 15 years		3,688		1,709
Furniture & fixtures	3 – 5 years		892		680
Tenant improvements	3 – 5 years		239		67
Properties, cost			1,171,223		928,060
Less: accumulated depreciation			(16,248)		(8,835)
Properties, net		$	1,154,975	$	919,225