Other Assets (Tables)

6 Months Ended

Jun. 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	June 30, 2021		December 31, 2020
Capitalized tax abatement, net (1)	$	7,254	$	—
Offering costs(2)	2,882		—
Deferred financing costs, net	959		440
Prepaid expenses	616		130
Other	424		16
Total	$	12,135	$	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.

(2)Represents offering costs paid by the Adviser on our behalf for the Offering that are in excess of proceeds received to date in the Offering.