Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Summary of Finance Lease Cost

For the three and nine months ended September 30, 2022 and 2021, total finance lease cost recorded to real estate owned operating expenses on the Company’s consolidated statements of operations was comprised as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Amortization of right-of-use assets	$	18	$	18	$	54	$	53
Interest on lease liabilities		492		482		1,468		1,440
Total finance lease cost	$	510	$	500	$	1,522	$	1,493

Schedule of Finance Lease Right of Use Asset, Net of Amortization

The table below shows the Company’s finance lease right of use asset, net of amortization as of September 30, 2022 and December 31, 2021:

	September 30,			December 31,
	2022			2021
Finance lease right of use asset, gross	$	5,549		$	5,549
Accumulated amortization		(149	)		(95	)
Finance lease right of use asset, net of amortization	$	5,400		$	5,454

Schedule of Remaining Lease Payments for the Ground Lease

Remaining lease payments for the ground lease as of September 30, 2022 for each of the five succeeding years and thereafter is as follows:

	Lease Payments
2022 (remaining)	$	403
2023		1,611
2024		1,745
2025		1,772
2026		1,772
Thereafter		269,685
Total undiscounted lease payments	$	276,988
Less: Amount representing interest		(259,623	)
Present value of lease liability	$	17,365