Properties (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate [Abstract]

Summary of Properties

The table below summarizes our properties held as of September 30, 2021 and December 31, 2020 (dollars in thousands):

	Depreciable Life	September 30, 2021		December 31, 2020
Property Segment
Land and land improvements	0 - 15 years	$	485,177	$	484,846
Buildings and building improvements	0 - 45 years	1,693,834		1,690,701
Furniture & fixtures	3 - 7 years	65,575		59,632
Investing and Servicing Segment
Land and land improvements	0 - 15 years	45,243		50,585
Buildings and building improvements	3 - 40 years	167,271		179,014
Furniture & fixtures	2 - 5 years	3,077		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	12,409		19,251
Construction in progress	N/A	104,088		75,245
Properties, cost		2,586,365		2,573,296
Less: accumulated depreciation		(357,503)		(302,143)
Properties, net		$	2,228,862	$	2,271,153

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(1)Represents properties acquired through loan foreclosure. Refer to Note 4 with respect to the construction in progress properties relating to a residential conversion project.