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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2021
Real Estate [Abstract] |
Schedule of real estate assets | The Company’s real estate assets were comprised of the following ($ in thousands):(1) ​
​ | ​ | ​ | ​
As of December 31, 2021 |  | ​ |
Land, at cost | ​ | $ | 6,831
Buildings and improvements, at cost | ​ |  | 106,679
Less: accumulated depreciation | ​ |  | (21,360)
Real estate, net | ​ |  | 92,150
Real estate available and held for sale(2) | ​ |  | 301
Total real estate | ​ | $ | 92,451
As of December 31, 2020 | ​ |  |
Land, at cost | ​ | $ | 103,530
Buildings and improvements, at cost | ​ |  | 106,422
Less: accumulated depreciation | ​ |  | (17,574)
Real estate, net | ​ |  | 192,378
Real estate available and held for sale(2) | ​ |  | 5,212
Total real estate | ​ | $ | 197,590
(1) | Refer to Note 3 - Net Lease Sale and Discontinued Operations.
(2) | As of December 31, 2021 and 2020, the Company had $0.3 million and $5.2 million, respectively, of residential condominiums available for sale in its operating properties portfolio.
Schedule of real estate available and held for sale | The following table presents the carrying value of properties transferred to held for sale, excluding net lease assets transferred to held for sale and classified as discontinued operations (refer to Note 3 – Net Lease Sale and Discontinued Operations), by segment ($ in millions):(1)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Years Ended December 31,
Property Type | ​ | 2021 |  | 2020 |  | 2019
Operating Properties | ​ | $ | 96.8 | ​ | $ | — | ​ | $ | 14.5
Total | ​ | $ | 96.8 | ​ | $ | — | ​ | $ | 14.5
(1) | Properties were transferred to held for sale due to executed contracts with third parties or changes in business strategy.
Schedule of proceeds from other dispositions | The following table presents the proceeds and income recognized for properties sold, by property type ($ in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | Years Ended December 31,
​ |  | 2021 |  | 2020 |  | 2019
Operating Properties(1) | ​ | ​ |  |  | ​ |  |  | ​ |
Proceeds | ​ | $ | 127.3 | ​ | $ | 5.9 | ​ | $ | 86.1
Income from sales of real estate | ​ |  | 26.3 | ​ |  | 0.2 | ​ |  | 11.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Lease(2) | ​ |  |  | ​ |  |  | ​ |  |
Proceeds | ​ | $ | 37.9 | ​ | $ | 42.4 | ​ | $ | 469.4
Income from sales of real estate | ​ |  | — | ​ |  | 6.1 | ​ |  | —
Net income from discontinued operations | ​ | ​ | 8.5 | ​ | ​ | — | ​ | ​ | 224.7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ |  |  | ​ |  |  | ​ |  |
Proceeds | ​ | $ | 165.2 | ​ | $ | 48.3 | ​ | $ | 555.5
Income from sales of real estate | ​ |  | 26.3 | ​ |  | 6.3 | ​ |  | 11.9
Net income from discontinued operations | ​ | ​ | 8.5 | ​ | ​ | — | ​ | ​ | 224.7
(1) | During the year ended December 31, 2021, the Company sold a commercial operating property with a carrying value of $96.8 million and recognized gains of $25.6 million and sold residential operating properties and recognized gains of $0.7 million in “Income from sales of real estate” in the Company’s consolidated statements of operations. During the year ended December 31, 2019, the Company sold commercial and residential operating properties with an aggregate carrying value of $73.1 million and recognized $11.9 million of gains in “Income from sales of real estate” in the Company’s consolidated statements of operations.
(2) | During the year ended December 31, 2020, proceeds include $7.5 million of proceeds from the sale of a net lease asset for which the Company recognized an impairment of $1.7 million in connection with the sale. During the year ended December 31, 2019, the Company sold a portfolio of net lease assets with an aggregate carrying value of $220.4 million and recognized $219.7 million of gains in “Net income from discontinued operations” in the Company’s consolidated statements of operations (refer to Note 3 - Net Lease Sale and Discontinued Operations). In connection with the sale of this portfolio of assets the buyer assumed a $228.0 million non-recourse mortgage.
​
Schedule of future minimum lease payments to be collected under non-cancelable operating leases | Future Minimum Operating Lease Payments—Future minimum operating lease payments to be collected under non-cancelable operating leases, excluding lease payments for assets that are classified as discontinued operations and customer reimbursements of expenses, in effect as of December 31, 2021, are as follows by year ($ in thousands): (1) ​
​ | ​ | ​ | ​
​ |  | Operating
Year | ​ | Properties
2022 | ​ | $ | 6,275
2023 | ​ |  | 6,017
2024 | ​ |  | 5,965
2025 | ​ |  | 5,372
2026 | ​ |  | 4,892
Thereafter | ​ |  | 3,007
(1) | Refer to Note 3 - Net Lease Sale and Discontinued Operations. .

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