Properties (Tables)

6 Months Ended

Jun. 30, 2019

Properties

Summary of properties

The table below summarizes our properties held as of June 30, 2019 and December 31, 2018 (dollars in thousands):

	Depreciable Life	June 30, 2019		December 31, 2018
Property Segment
Land and land improvements	0 – 15 years	$	647,568	$	648,972
Buildings and building improvements	5 – 45 years		1,981,043		1,980,283
Furniture & fixtures	3 – 7 years		49,198		46,048
Investing and Servicing Segment
Land and land improvements	0 – 15 years		82,480		82,332
Buildings and building improvements	3 – 40 years		215,573		213,010
Furniture & fixtures	2 – 5 years		2,470		2,158
Commercial and Residential Lending Segment (1)
Land and land improvements	0 – 7 years		11,386		—
Buildings	20 – 23 years		16,030		—
Properties, cost			3,005,748		2,972,803
Less: accumulated depreciation			(233,788)		(187,913)
Properties, net		$	2,771,960	$	2,784,890

(1) Represents properties acquired through loan foreclosure. Refer to Note 4 for further discussion.

Summary of future rental payments due from tenants under existing non-cancellable operating leases

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):

2019 (remainder of)	$	123,703
2020		145,473
2021		119,548
2022		111,591
2023		96,183
Thereafter		837,959
Total	$	1,434,457