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Escrow Deposits, Prepaid Expenses and Other Assets | 12 Months Ended
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Dec. 31, 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 December 31, 2023 and 2022 (amounts in thousands):
| December 31, 2023 |  | December 31, 2022
Consolidated land not owned (see Note 2) | $ | 147,330 |  |  | $ | 108,114 |
Escrow deposits, prepaid expenses and other | 136,640 |  |  | 105,811 |
Commercial real estate, software, vehicles and FF&E, net | 96,862 |  |  | 85,772 |
Operating lease right-of-use assets | 16,623 |  |  | 19,129 |
Deferred costs and other intangibles, net | 7,630 |  |  | 10,237 |
Notes receivable, net | 1,053 |  |  | 2,383 |
Total | $ | 406,138 |  |  | $ | 331,446 |
Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $17.4 million, $13.4 million and $11.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net, consisted of the following as of December 31, 2023 and 2022 (amounts in thousands):
| December 31, 2023 |  | December 31, 2022
Deferred leasing costs | $ | 2,865 |  |  | $ | 2,375 |
Deferred financing costs | 22,491 |  |  | 22,491 |
| 25,356 |  |  | 24,866 |
Less: accumulated amortization | (17,726) |  |  | (14,629) |
Total | $ | 7,630 |  |  | $ | 10,237 |
Amortization expense related to deferred leasing costs was $3.0 million, $2.7 million and $3.9 million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included in depreciation and amortization within the consolidated statements of operations. Amortization of deferred financing costs related to our revolving credit facility was $2.7 million, $2.7 million and $2.5 million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included in gross interest, prior to interest capitalization (see Note 7. Debt). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2023 for future periods (amounts in thousands):
| Deferred Leasing Costs |  | Deferred Financing Costs |  | Total
2024 | $ | 1,394 |  |  | $ | 2,730 |  |  | $ | 4,124 |
2025 | — |  |  | 2,722 |  |  | 2,722 |
2026 | — |  |  | 784 |  |  | 784 |
Total | $ | 1,394 |  |  | $ | 6,236 |  |  | $ | 7,630 |

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- 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 No definition available. + Details
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