Goodwill and Intangibles (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes our intangible assets, which are comprised of servicing rights intangibles and lease intangibles, as of March 31, 2022 and December 31, 2021 (amounts in thousands):


	As of March 31, 2022						As of December 31, 2021
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Domestic servicing rights, at fair value	$	17,864	$	—	$	17,864	$	16,780	$	—	$	16,780
In-place lease intangible assets	88,886		(59,040)		29,846		94,712		(62,721)		31,991
Favorable lease intangible assets	23,241		(8,803)		14,438		23,746		(8,953)		14,793
Total net intangible assets	$	129,991	$	(67,843)	$	62,148	$	135,238	$	(71,674)	$	63,564

Summary of Activity Within Intangible Assets

The following table summarizes the activity within intangible assets for the three months ended March 31, 2022 (amounts in thousands):


	Domestic Servicing Rights		In-place Lease Intangible Assets		Favorable Lease Intangible Assets		Total
Balance as of January 1, 2022	$	16,780	$	31,991	$	14,793	$	63,564
Amortization	—		(1,601)		(313)		(1,914)
Impairment (1)	—		(43)		(4)		(47)
Sales	—		(501)		(38)		(539)
Changes in fair value due to changes in inputs and assumptions	1,084		—		—		1,084
Balance as of March 31, 2022	$	17,864	$	29,846	$	14,438	$	62,148

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(1) Impairment of intangible lease assets is recognized within other expense in our condensed consolidated statement of operations.

Schedule of Future Amortization Expense

The following table sets forth the estimated aggregate amortization of our in-place lease intangible assets and favorable lease intangible assets for the next five years and thereafter (amounts in thousands):


2022 (remainder of)	$	5,190
2023	5,971
2024	4,650
2025	3,775
2026	2,754
Thereafter	21,944
Total	$	44,284