Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of Investments in Real Estate Useful Lives

Our investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows:

Description	Depreciable Life
Building	30 - 40 years
Building and land improvements	1 - 10 years
Furniture, fixtures and equipment	1 - 7 years
Lease intangibles and leasehold improvements	Over lease term

Investments in real estate, net consist of:

$ in thousands	September 30, 2021		December 31, 2020
Building and improvements	$	229,793	$	44,317
Land and land improvements	45,350		16,483
Furniture, fixtures and equipment	3,294		—
Total	278,437		60,800
Accumulated depreciation	(2,241)		(27)
Investments in real estate, net	$	276,196	$	60,773

Schedule of Fair Value, Assets Measured on Recurring Basis

The following table details our assets measured at fair value on a recurring basis:

$ in thousands	September 30, 2021								December 31, 2020
Assets:	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Investments in real estate-related securities	$	509	$	4,006	$	—	$	4,515	$	11	$	866	$	—	$	877
Total	$	509	$	4,006	$	—	$	4,515	$	11	$	866	$	—	$	877