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Real Estate Owned and Related Debt (Tables)
 9 Months Ended
Sep. 30, 2021
Real Estate [Abstract]  
Schedule of Business Acquisitions On May 24, 2021, in accordance with ASC 805, "Business Combinations," we allocated the fair value of the hotel’s assets and liabilities. On June 29, 2021, we repaid the $110.0 million mortgage loan against the property. Below are the hotel's assets and liabilities as of May 24 and September 30, 2021, which are designated as real estate owned on our condensed consolidated balance sheet ($ in thousands):
September 30, 2021May 24, 2021
Assets:
Cash$3,581 $4,148 
Land58,742 58,742 
Buildings86,916 86,871 
Furniture, fixtures, and equipment8,707 8,687 
Accumulated depreciation(1,548)— 
Other Assets1,651 1,555 
Total Assets$158,049 $160,003 
Liabilities:
Debt related to real estate owned(1)
$— $110,073 
Accounts payable, accrued expenses and other liabilities5,543 4,641 
Total Liabilities$5,543 $114,714 
Net Real Estate Assets$152,506 $45,289 
———————
(1)$110 million first mortgage loan was repaid on June 29, 2021.
Real Estate Investment Financial Statements, Disclosure
For the three and nine months ended September 30, 2021, we recorded the operating revenue, expenses and fixed asset depreciation and amortization in its condensed consolidated income statement as shown below ($ in thousands):
Three months endedNine months ended
September 30, 2021September 30, 2021
Operations related to real estate owned:
Revenue from operations$5,896 $7,270 
Operating expenses(6,914)(8,908)
Depreciation and amortization(1,096)(1,548)
Net loss from real estate owned$(2,114)$(3,186)