XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.21.2

Escrow Deposits, Prepaid Expenses and Other Assets | 9 Months Ended
--- | ---
Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Escrow Deposits, Prepaid Expenses and Other Assets | Escrow Deposits, Prepaid Expenses and Other Assets The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of September 30, 2021 and December 31, 2020 (in thousands):
| September 30, 2021 |  | December 31, 2020
Escrow deposits, prepaid expenses and other | $ | 72,716 |  |  | $ | 51,886 |
Commercial real estate, software, vehicles and FF&E, net | 59,886 |  |  | 52,130 |
Notes receivable, net | 34,677 |  |  | 35,519 |
Operating lease ROU assets | 17,611 |  |  | 18,772 |
Deferred costs and other intangibles, net | 13,946 |  |  | 4,864 |
Total | $ | 198,836 |  |  | $ | 163,171 |
Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $2.9 million and $2.3 million for the three months ended September 30, 2021 and 2020, respectively, and $8.3 million and $6.4 million for the nine months ended September 30, 2021 and 2020, respectively. Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net, consisted of the following as of September 30, 2021 and December 31, 2020 (in thousands):
| September 30, 2021 |  | December 31, 2020
Deferred leasing costs | $ | 3,341 |  |  | $ | 3,782 |
Deferred financing costs | 22,488 |  |  | 11,244 |
| 25,829 |  |  | 15,026 |
Less: accumulated amortization | (11,883) |  |  | (10,162) |
Total | $ | 13,946 |  |  | $ | 4,864 |
Amortization expense related to deferred leasing costs was $1.0 million for both the three months ended September 30, 2021 and 2020 and $3.1 million for both the nine months ended September 30, 2021 and 2020 and was included in depreciation and amortization within the condensed consolidated statements of operations. Amortization of deferred financing costs that relate to our revolving credit facility was $0.7 million and $0.5 million for the three months ended September 30, 2021 and 2020, respectively, and $1.8 million and $1.5 million for the nine months ended September 30, 2021 and 2020, respectively, and was included in gross interest, prior to interest capitalization (see Note 8. Debt). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of September 30, 2021 for future periods (in thousands):
| Deferred Leasing Costs |  | Deferred Financing Costs |  |  |  | Total
Remaining 2021 | $ | 748 |  |  | $ | 687 |  |  |  |  | $ | 1,435 |
2022 | 832 |  |  | 2,722 |  |  |  |  | 3,554 |
2023 | — |  |  | 2,722 |  |  |  |  | 2,722 |
2024 | — |  |  | 2,730 |  |  |  |  | 2,730 |
2025 | — |  |  | 2,722 |  |  |  |  | 2,722 |
Thereafter | — |  |  | 783 |  |  |  |  | 783 |
Total | $ | 1,580 |  |  | $ | 12,366 |  |  |  |  | $ | 13,946 |

X
- References No definition available. + Details
Name: | us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration