Properties (Tables)

3 Months Ended

Mar. 31, 2021

Properties

Summary of properties

The table below summarizes our properties held as of March 31, 2021 and December 31, 2020 (dollars in thousands):

	Depreciable Life	March 31, 2021		December 31, 2020
Property Segment
Land and land improvements	0 – 15 years	$	485,026	$	484,846
Buildings and building improvements	5 – 45 years		1,691,423		1,690,701
Furniture & fixtures	3 – 7 years		60,926		59,632
Investing and Servicing Segment
Land and land improvements	0 – 15 years		50,617		50,585
Buildings and building improvements	3 – 40 years		179,813		179,014
Furniture & fixtures	2 – 5 years		2,804		2,606
Commercial and Residential Lending Segment (1)
Land and land improvements	0 – 7 years		9,691		11,416
Buildings and building improvements	10 – 20 years		9,927		19,251
Construction in progress	N/A		75,245		75,245
Properties, cost			2,565,472		2,573,296
Less: accumulated depreciation			(320,724)		(302,143)
Properties, net		$	2,244,748	$	2,271,153

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