Other Assets (Tables)

9 Months Ended

Sep. 30, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

The following table summarizes the components of other assets:

$ in thousands	September 30, 2021		December 31, 2020
Capitalized tax abatement, net (1)	$	7,151	$	—
Deferred financing costs, net		805		440
Prepaid expenses		833		130
Deferred rent		423		11
Other		89		5
Total	$	9,301	$	586

(1) We obtained a tax abatement in conjunction with our purchase of the Cortona Apartments with an expiration date of December 31, 2038 and are amortizing the tax abatement over the remaining useful life of the tax abatement as a component of depreciation and amortization in the condensed consolidated statements of operations. As of September 30, 2021, accumulated amortization of the capitalized tax abatement was $0.3 million, and the estimated annual amortization is $0.4 million.