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Acquisitions and Divestitures
3 Months Ended
Mar. 31, 2021
Acquisitions and Divestitures  
Acquisitions and Divestitures

3. Acquisitions and Divestitures

During the three months ended March 31, 2021, we sold an operating property within the Commercial and Residential Lending Segment relating to a grocery distribution facility located in Montgomery, Alabama that was previously acquired in March 2019 through foreclosure of a loan with a carrying value of $9.0 million ($20.9 million unpaid principal balance net of an $8.3 million allowance and $3.6 million of unamortized discount) at the foreclosure date. The operating property was sold for $30.6 million and we recognized a gain of $17.7 million within gain on sale of investments and other assets in our condensed consolidated statement of operations.

During the three months ended March 31, 2021 and 2020, we had no significant acquisitions of properties or businesses.