XML 34 R21.htm IDEA: XBRL DOCUMENT
v3.23.3

Escrow Deposits, Prepaid Expenses and Other Assets | 9 Months Ended
--- | ---
Sep. 30, 2023
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, 2023 and December 31, 2022 (amounts in thousands):
| September 30, 2023 |  | December 31, 2022
Consolidated land not owned | $ | 132,892 |  |  | $ | 108,114 |
Escrow deposits, prepaid expenses and other | 116,355 |  |  | 105,811 |
Commercial real estate, software, vehicles and FF&E, net | 95,676 |  |  | 85,772 |
Operating lease right-of-use assets | 17,145 |  |  | 19,129 |
Deferred costs and other intangibles, net | 8,369 |  |  | 10,237 |
Notes receivable, net | 1,720 |  |  | 2,383 |
Total | $ | 372,157 |  |  | $ | 331,446 |
Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $4.5 million and $3.5 million for the three months ended September 30, 2023 and 2022, respectively, and $12.9 million and $9.6 million for the nine months ended September 30, 2023 and 2022, respectively. Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net consisted of the following as of September 30, 2023 and December 31, 2022 (amounts in thousands):
| September 30, 2023 |  | December 31, 2022
Deferred leasing costs | $ | 3,072 |  |  | $ | 2,375 |
Deferred financing costs | 22,491 |  |  | 22,491 |
| 25,563 |  |  | 24,866 |
Less: accumulated amortization | (17,194) |  |  | (14,629) |
Total | $ | 8,369 |  |  | $ | 10,237 |
Amortization expense related to deferred leasing costs was $0.8 million and $0.7 million for the three months ended September 30, 2023 and 2022, respectively, and $2.2 million for both the nine months ended September 30, 2023 and 2022, and is included in depreciation and amortization within the condensed consolidated statements of operations. Amortization of deferred financing costs related to our revolving credit facility was $0.7 million for both the three months ended September 30, 2023 and 2022, and $2.0 million and $2.1 million for the nine months ended September 30, 2023 and 2022, respectively, and is 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, 2023 for future periods (amounts in thousands):
| Deferred Leasing Costs |  | Deferred Financing Costs |  |  |  | Total
Remaining 2023 | $ | 583 |  |  | $ | 686 |  |  |  |  | $ | 1,269 |
2024 | 864 |  |  | 2,730 |  |  |  |  | 3,594 |
2025 | — |  |  | 2,722 |  |  |  |  | 2,722 |
2026 | — |  |  | 784 |  |  |  |  | 784 |
Total | $ | 1,447 |  |  | $ | 6,922 |  |  |  |  | $ | 8,369 |

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 The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_OtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration