REAL ESTATE, NET and INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2022

REAL ESTATE, NET and INTANGIBLE ASSETS, NET

Schedule of Real Estate Properties

As of December 31, 2022 and 2021, real estate, net consisted of the following (dollars in thousands):

	December 31,		December 31,
	2022		2021
Building and building improvements	$	51,141	$	51,141
Tenant improvements		221		200
Furniture and fixtures		847		775
Land and land improvements		28,847		28,847
		81,056		80,963
Less: accumulated depreciation		16,405		13,629
	$	64,651	$	67,334

Schedule of estimated annual amortization of intangible assets

As of December 31, 2022, the estimated annual amortization of intangible assets for each of the five succeeding years and thereafter is as follows (dollars in thousands):

	Real Estate
	Tax
	Abatement
Year	Amortization
2023	$	740
2024		740
2025		740
2026		740
2027		740
Thereafter		3,992