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Real estate owned, held for sale

3 Months Ended

Mar. 31, 2024

Note 16. Real estate owned, held for sale

The table below presents details on the real estate owned, held for sale portfolio.


(in thousands)	March 31, 2024		December 31, 2023
Acquired Portfolio:
Mixed Use	$	8,535	$	8,535
Multi-family		72,664		73,745
Lodging		5,342		14,010
Residential		23,064		23,064
Office		6,883		6,901
Land		82,507		86,375
Total Acquired REO ⁽¹⁾	$	198,995	$	212,630
Other REO held for sale:
Office		6,601		5,983
Services		—		1,126
Mixed Use		4,247		4,247
Multi-family		28,139		28,139
Other		1,892		824
Total Other REO	$	40,879	$	40,319
Total real estate owned, held for sale	$	239,874	$	252,949
(1) Refer to Note 5 for further details on assets acquired and liabilities assumed in connection with the Broadmark Merger.

In the table above, Other REO excludes $3.1 million and $1.9 million as of March 31, 2024 and December 31, 2023, respectively, of real estate owned, held for sale within consolidated VIEs.

Subsequent to the determination of the preliminary purchase price allocation, based on updated valuations obtained, the Company recorded a measurement period adjustment of $5.4 million to decrease the value of real estate owned, held for sale in connection with the Broadmark Merger. Refer to Note 5 for further details on assets acquired and liabilities assumed in connection with the Broadmark Merger.