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Escrow Deposits, Prepaid Expenses and Other Assets
 3 Months Ended
Mar. 31, 2024
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 March 31, 2024 and December 31, 2023 (amounts in thousands):
March 31, 2024December 31, 2023
Escrow deposits, prepaid expenses and other$140,011 $136,640 
Consolidated land not owned130,604 147,330 
Commercial real estate, software, vehicles and FF&E, net97,882 96,862 
Operating lease right-of-use assets15,748 16,623 
Deferred costs and other intangibles, net6,977 7,630 
Notes receivable, net925 1,053 
Total$392,147 $406,138 

Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $4.6 million and $4.2 million for the three months ended March 31, 2024 and 2023, respectively.

Deferred Costs and Other Intangibles, Net

Deferred costs and other intangibles, net consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands):
 March 31, 2024December 31, 2023
Deferred leasing costs$2,817 $2,865 
Deferred financing costs22,491 22,491 
 25,308 25,356 
Less: accumulated amortization(18,331)(17,726)
Total$6,977 $7,630 

Amortization expense related to deferred leasing costs was $0.8 million and $0.7 million for the three months ended March 31, 2024 and 2023, respectively, 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 March 31, 2024 and 2023 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 March 31, 2024 for future periods (amounts in thousands):
Deferred
Leasing Costs		Deferred
Financing Costs		Total
Remaining 2024$1,293 $2,051 $3,344 
2025127 2,722 2,849 
2026— 784 784 
Total$1,420 $5,557 $6,977