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Prepaid Expenses and Other Assets, Net | 12 Months Ended
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Dec. 31, 2018
Prepaid Expense and Other Assets [Abstract] |
Prepaid Expenses and Other Assets, Net | Prepaid Expenses and Other Assets, Net Prepaid expenses and other assets, net consisted of the following (in thousands):
| December 31,
| 2018 |  | 2017
Prepaid expenses | $ | 25,658 |  |  | $ | 24,670 |
Lease incentives, net | 21,258 |  |  | 19,011 |
Furniture, fixtures and equipment, net | 8,630 |  |  | 5,256 |
Non-real estate equity investments | 5,940 |  |  | 5,056 |
Deferred financing costs, net (1) | 4,733 |  |  | 1,202 |
Restricted cash | 3,884 |  |  | 2,570 |
Construction contract costs incurred in excess of billings | 3,189 |  |  | 4,884 |
Deferred tax asset, net | 2,084 |  |  | 1,892 |
Other assets | 6,337 |  |  | 2,177 |
Total for COPLP and subsidiaries | 81,713 |  |  | 66,718 |
Marketable securities in deferred compensation plan | 3,868 |  |  | 4,616 |
Total for COPT and subsidiaries | $ | 85,581 |  |  | $ | 71,334 |
(1) Represents deferred costs, net of accumulated amortization, attributable to our Revolving Credit Facility and interest rate derivatives. Deferred tax asset, net reported above includes the following tax effects of temporary differences and carry forwards of our TRS (in thousands):
| December 31,
| 2018 |  | 2017
Operating loss carry forward | $ | 4,354 |  |  | $ | 3,209 |
Share-based compensation | 28 |  |  | 7 |
Accrued payroll | 2 |  |  | 49 |
Property | 427 |  |  | 43 |
Valuation allowance | (2,727 | ) |  | (1,416 | )
Deferred tax asset, net | $ | 2,084 |  |  | $ | 1,892 |
We recognize a valuation allowance on our deferred tax asset if we believe all or some portion of the asset may not be realized. An increase or decrease in the valuation allowance resulting from a change in circumstances that causes a change in our judgment about the realizability of our deferred tax asset is included in income. The deferred tax asset valuation allowance is due to a decrease in future projected income in our TRS resulting primarily from our dispositions of certain properties to which the TRS provided amenity services and our planned reduction in amenity services provided by the TRS at certain other properties. We believe it is more likely than not that the results of future operations in our TRS will generate sufficient taxable income to realize our December 31, 2018 net deferred tax asset.

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