Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value of assets and liabilities

The following tables present estimated fair values of our financial instruments, as of the date indicated, whether or not recognized or recorded in the condensed consolidated balance sheets at the periods indicated:

	March 31, 2022				Fair Value Measurements Using
(dollars in thousands)	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	97,407	$	97,407	$	97,407	$	—	$	—
Mortgage notes receivable, net		931,431		931,431		—		—		931,431
Financial Liabilities
Senior unsecured notes		97,360		97,120		—		97,120		—
Private placement warrant liability		1,846		1,846		—		1,846		—

	December 31, 2021				Fair Value Measurements Using
(dollars in thousands)	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial Assets
Cash and cash equivalents	$	132,889	$	132,889	$	132,889	$	—	$	—
Mortgage notes receivable, net		901,350		901,350		—		—		901,350
Financial Liabilities
Senior unsecured notes		97,223		100,000		—		100,000		—
Private placement warrant liability		1,838		1,838		—		1,838		—

Schedule of valuation methodologies and inputs used for assets that are measured at fair value

	Carrying Value				Fair Value
(dollars in thousands)	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		Valuation technique	Unobservable inputs	Range of inputs
Real property — held for sale	$	47,022	$	52,531	$	48,035	$	54,169	Collateral valuations	Appraised value, broker opinion of value, discounted cash flows or capitalization rate applied to estimate net operating income	0 - 10%
Collateral dependent loans, net of allowance for credit losses		56,590		43,938		58,684		45,772	Collateral valuations	Discount to appraised value based on comparable market prices	0 - 10%
Total	$	103,612	$	96,469	$	106,719	$	99,941