Properties (Tables)

12 Months Ended

Dec. 31, 2020

Properties

Summary of properties

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

	Depreciable Life	December 31, 2020		December 31, 2019
Property Segment
Land and land improvements	0 – 15 years	$	484,846	$	484,397
Buildings and building improvements	5 – 45 years		1,690,701		1,687,756
Furniture & fixtures	3 – 7 years		59,632		52,567
Investing and Servicing Segment
Land and land improvements	0 – 15 years		50,585		54,052
Buildings and building improvements	3 – 40 years		179,014		182,048
Furniture & fixtures	2 – 5 years		2,606		2,139
Commercial and Residential Lending Segment (1)
Land and land improvements	0 – 10 years		11,416		11,386
Buildings and building improvements	10 – 23 years		19,251		16,285
Construction in progress (2)	N/A		75,245		—
Properties, cost			2,573,296		2,490,630
Less: accumulated depreciation			(302,143)		(224,190)
Properties, net		$	2,271,153	$	2,266,440

(1) Represents properties acquired through loan foreclosure or exercise of control over loan borrower pledged equity interests.

(2) Represents assets related to the borrower entity that we exercised control over. Refer to Note 5 for further detail.

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):

2021	$	187,924
2022		103,617
2023		93,914
2024		85,964
2025		78,050
Thereafter		677,142
Total	$	1,226,611