Real Estate Owned, net (Tables)

12 Months Ended

Dec. 31, 2021

Real Estate Owned Disclosure Of Detailed Components [Abstract]

Summary of additional detail related to the company's real estate owned, net

The following table presents additional detail related to the Company’s real estate owned, net as of December 31, 2021 (dollars in thousands):

	December 31, 2021
Land	$	123,100
Building		284,400
Furniture, fixtures and equipment		6,500
Real estate assets		414,000
Less: accumulated depreciation		(7,113	)
Real estate owned, net	$	406,887

Summary of additional detail related to the company's real estate portfolio

The following table presents additional detail related to the Company’s real estate portfolio for the period from February 8, 2021 through December 31, 2021 (dollars in thousands):

	Period from February 8, 2021 through December 31, 2021
Operating revenues	$	27,984
Operating expenses		(25,081	)
Depreciation		(7,113	)
Net operating loss from real estate owned	$	(4,210	)

The Company’s debt related to real estate owned is summarized as follows (dollars in thousands):

Contractual	Stated
Maturity Date	Rate (1)	Interest Rate			Par Value		Carrying Value
February 9, 2024	L + 2.78%		3.53	%	$	290,000	$	289,806

(1) One-month LIBOR at December 31, 2021 was 0.10%.  This financing has a LIBOR floor of 0.75%.