7. Properties

Our properties include the Medical Office Portfolio, Woodstar Portfolio, REO Portfolio and Ireland Portfolio as discussed in Note 3. The table below summarizes our properties held as of December 31, 2016 and December 31, 2015 (dollars in thousands):


		December 31,
	Depreciable Life	2016		2015
Property Segment
Land and land improvements	0 – 12 years	$	385,860	$	247,589
Buildings and building improvements	5 – 40 years		1,291,531		516,117
Furniture & fixtures	3 – 7 years		23,035		11,980
Investing and Servicing Segment
Land and land improvements	0 – 15 years		89,425		39,103
Buildings and building improvements	3 – 40 years		195,178		112,524
Furniture & fixtures	3 – 5 years		1,256		747
Properties, cost			1,986,285		928,060
Less: accumulated depreciation			(41,565)		(8,835)
Properties, net		$	1,944,720	$	919,225

In March 2015, the Investing and Servicing Segment sold an operating property that we had previously acquired from a CMBS trust, which resulted in a $17.8 million gain on sale of investments and other assets in our consolidated statement of operations for the year ended December 31, 2015. There were no properties sold during the year ended December 31, 2016.

Future rental payments due to us from tenants under existing non-cancellable operating leases for each of the next five years and thereafter are as follows (in thousands):


2017	$	133,062
2018		91,625
2019		82,485
2020		75,717
2021		69,860
Thereafter		418,144
Total	$	870,893