Goodwill and Intangibles (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes our intangible assets, which are comprised of servicing rights intangibles and lease intangibles, as of March 31, 2024 and December 31, 2023 (amounts in thousands):


	As of March 31, 2024						As of December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Domestic servicing rights, at fair value	$	19,612	$	—	$	19,612	$	19,384	$	—	$	19,384
In-place lease intangible assets	96,158		(68,896)		27,262		96,158		(67,420)		28,738
Favorable lease intangible assets	27,928		(11,535)		16,393		27,928		(11,083)		16,845
Total net intangible assets	$	143,698	$	(80,431)	$	63,267	$	143,470	$	(78,503)	$	64,967

Schedule of Activity within Intangible Assets

The following table summarizes the activity within intangible assets for the three months ended March 31, 2024 (amounts in thousands):


	Domestic Servicing Rights		In-place Lease Intangible Assets		Favorable Lease Intangible Assets		Total
Balance as of January 1, 2024	$	19,384	$	28,738	$	16,845	$	64,967

Amortization	—		(1,476)		(452)		(1,928)


Changes in fair value due to changes in inputs and assumptions	228		—		—		228
Balance as of March 31, 2024	$	19,612	$	27,262	$	16,393	$	63,267

Schedule of Future Amortization Expense

The following table sets forth the estimated aggregate amortization of our in-place lease intangible assets and favorable lease intangible assets for the next five years and thereafter (amounts in thousands):


2024 (remainder of)	$	5,267
2025	6,099
2026	4,573
2027	4,089
2028	3,943
Thereafter	19,684
Total	$	43,655