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Operating Real Estate Held in Consolidated VIEs, Net | 12 Months Ended
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Dec. 31, 2020
Real Estate [Abstract] |
Operating Real Estate Held in Consolidated VIEs, Net | Operating Real Estate Held in Consolidated VIE, Net On November 12, 2020, the Company determined that it became the primary beneficiary of Campus Lodge, a variable interest entity that owns a multi-family apartment community and in which the Company holds a preferred equity investment. Accordingly, on this date, the Company consolidated Campus Lodge into its consolidated financial statements (see Note 7). The following is a summary of the real estate investments in Campus Lodge as of December 31, 2020 (dollar amounts in thousands):
Land |  | $ | 5,400 |
Building and improvements |  | 43,764 |
Furniture, fixture and equipment |  | 1,522 |
Real estate |  | $ | 50,686 |
Accumulated depreciation (1) |  | (154) |
Real estate, net (2) |  | $ | 50,532 |
(1)Depreciation expense for the year ended December 31, 2020 totaled $0.2 million and is included in operating expenses on the accompanying consolidated statements of operations. (2)Included in other assets on the accompanying consolidated balance sheets. The estimated depreciation expense related to operating real estate held in Consolidated VIE is as follows (dollar amounts in thousands):
Year Ending December 31, |  | Depreciation Expense
2021 |  | $ | 1,864 |
2022 |  | $ | 1,864 |
2023 |  | $ | 1,864 |
2024 |  | $ | 1,864 |
2025 |  | $ | 1,839 |

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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