Assets and Liabilities Related to Real Estate Owned (Tables)

9 Months Ended

Sep. 30, 2022

Below are the hotel's assets and liabilities as of September 30, 2022 on our condensed consolidated balance sheet ($ in thousands):


	September 30, 2022
Assets:
Cash	$	5,858
Land	58,742
Buildings	86,973
Furniture, fixtures, and equipment	8,811
Accumulated depreciation	(3,349)
Other assets	5,024
Total Assets	$	162,059
Liabilities:

Accounts payable, accrued expenses and other liabilities	6,116
Total Liabilities	$	6,116
Net Real Estate Assets	$	155,943

Real Estate Investment Financial Statements, Disclosure

For the three and nine months ended September 30, 2022 and 2021, we recorded the operating revenue, expenses and fixed asset depreciation and amortization in our condensed consolidated income statement as shown below ($ in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Operations related to real estate owned:
Revenue from operations	$	14,428	$	5,896	$	42,098	$	7,270
Operating expenses	(13,308)		(6,914)		(36,094)		(8,908)
Depreciation and amortization	—		(1,096)		(704)		(1,548)
Net income (loss) from real estate owned	$	1,120	$	(2,114)	$	5,300	$	(3,186)