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Real Estate Debt Investments (Tables)
12 Months Ended
Dec. 31, 2021
Real Estate [Abstract]  
Schedule of the Company's Real Estate Debt Investments
The following table presents the Company’s one debt investment (dollars in thousands) as of December 31, 2020:
Asset Type:Principal Amount
Carrying Value(1)
Effective Interest Rate
Mezzanine loan$74,182 $55,864 10.0 %
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(1)As a result of impairments and other non-cash reserves recorded by the joint venture, the Company’s carrying value of its Espresso unconsolidated investment was reduced to zero in the fourth quarter of 2018. The Company has recorded the excess equity in losses related to its unconsolidated investment as a reduction to the carrying value of its mezzanine loan, which was originated to a subsidiary of the Espresso joint venture. As of December 31, 2020, the cumulative excess equity in losses included in the mezzanine loan carrying value were $18.3 million.