The Medical Office Portfolio is comprised of 34 medical office buildings acquired during the year ended December 31, 2016. These properties, which collectively comprise 1.9 million square feet, are geographically dispersed throughout the U.S. and primarily affiliated with major hospitals or located on or adjacent to major hospital campuses. The Medical Office Portfolio includes total gross properties and lease intangibles of $779.3 million and debt of $598.8 million as of March 31, 2024.

The REIS Equity Portfolio is comprised of 6 commercial real estate properties which were acquired from CMBS trusts over time. The REIS Equity Portfolio includes total gross properties and lease intangibles of $109.6 million and debt of $68.5 million as of March 31, 2024.

The Commercial and Residential Lending Segment Portfolio represents properties acquired through loan foreclosure or exercise of control over a mezzanine loan borrower’s pledged equity interests. This portfolio includes total gross properties and lease intangibles of $461.1 million and debt of $87.8 million as of March 31, 2024.


	Depreciable Life	March 31, 2024		December 31, 2023
Property Segment
Land and land improvements	0 - 12 years	$	69,138	$	68,923
Buildings and building improvements	0 - 40 years	630,325		629,511
Furniture & fixtures	3 - 5 years	691		608
Investing and Servicing Segment
Land and land improvements	0 - 15 years	20,229		20,229
Buildings and building improvements	3 - 40 years	65,527		65,433
Furniture & fixtures	2 - 5 years	2,921		2,899
Commercial and Residential Lending Segment
Land and land improvements	N/A	79,361		79,361
Buildings and building improvements	0 - 50 years	139,538		139,538
Construction in progress	N/A	222,842		218,205
Furniture & fixtures	5 years	2,003		2,003
Properties, cost		1,232,575		1,226,710
Less: accumulated depreciation		(188,010)		(180,326)
Properties, net		$	1,044,565	$	1,046,384

On February 29, 2024, we sold the 16 retail properties which comprised our Property Segment's Master Lease Portfolio for a gross sale price of $387.1 million. In connection with the sale, the purchaser assumed the related mortgage debt of $194.9 million, which resulted in net proceeds of $188.0 million after selling costs. We recognized a gain of $92.0 million, which is included within gain on sale of investments and other assets in our condensed consolidated statement of operations for the three months ended March 31, 2024, and a $1.2 million loss on extinguishment of debt.

During the three months ended March 31, 2024 and 2023, there were no material sales of property within the REIS Equity Portfolio or Commercial and Residential Lending Segment.