Other Assets

Other assets consisted of the following (in thousands):



	March 31, 2019		December 31, 2018
Prepaid expenses	$	30,414	$	31,983
Refundable fees and other deposits	18,071		12,376
Development rights, held for future use or sale	2,288		845
Deferred loan costs–loans payable	5,298		2,424
Operating properties and equipment, net	56,462		54,198
Lease right-of-use assets	58,088		—
Other	3,335		3,425
Total	$	173,956	$	105,251

Lease right-of-use assets was impacted by our one-time cumulative adjustment resulting from the adoption of ASC 842. As a result of our cumulative adjustment, the December 31, 2018 balance increased by $57.4 million on January 1, 2019. For further details, see Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies.