Properties (Tables)

3 Months Ended

Mar. 31, 2020

Properties

Summary of properties

The table below summarizes our properties held as of March 31, 2020 and December 31, 2019 (dollars in thousands):

	Depreciable Life	March 31, 2020		December 31, 2019
Property Segment
Land and land improvements	0 – 15 years	$	484,673	$	484,397
Buildings and building improvements	5 – 45 years		1,688,284		1,687,756
Furniture & fixtures	3 – 7 years		54,277		52,567
Investing and Servicing Segment
Land and land improvements	0 – 15 years		54,150		54,052
Buildings and building improvements	3 – 40 years		186,329		182,048
Furniture & fixtures	2 – 5 years		2,265		2,139
Commercial and Residential Lending Segment (1)
Land and land improvements	0 – 7 years		11,386		11,386
Buildings and building improvements	10 – 23 years		16,322		16,285
Properties, cost			2,497,686		2,490,630
Less: accumulated depreciation			(244,616)		(224,190)
Properties, net		$	2,253,070	$	2,266,440

(1) Represents properties acquired through loan foreclosure.