Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between the U.S. federal statutory income tax rate and the effective tax rate for the year ended December 31, 2021 is as follows:

	Year Ended
	December 31, 2021
US statutory tax rate		21.00	%
REIT income not subject to corporate income tax		-24.52	%
State and local income taxes		-3.50	%
Change in valuation allowance		8.59	%
Other		-1.57	%
		0.00	%

Schedule of Deferred Tax Assets

The components of the deferred tax asset consist of the following (in thousands):

	December 31, 2021
Investment basis difference in real estate owned	$	4,018
Net operating loss carryforward		10,627
		14,645
Valuation allowance		(14,645	)
Deferred tax asset	$	—