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Other Assets and Other Liabilities | 6 Months Ended
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Jun. 30, 2013
Other Assets and Other Liabilities [Abstract] |
Other Assets and Other Liabilities | Other Assets and Other Liabilities Deferred expenses and other assets, net, consist of the following items ($ in thousands):
| As of
| June 30, 2013 |  | December 31, 2012
Deferred financing fees, net(1) | $ | 33,929 |  |  | $ | 26,629 |
Leasing costs, net(2) | 20,277 |  |  | 20,205 |
Other receivables | 9,498 |  |  | 11,517 |
Prepaid expenses | 7,218 |  |  | 5,218 |
Corporate furniture, fixtures and equipment, net(3) | 6,947 |  |  | 7,537 |
Derivative asset | 2,471 |  |  | — |
Other assets | 23,357 |  |  | 22,884 |
Deferred expenses and other assets, net | $ | 103,697 |  |  | $ | 93,990 |
Explanatory Notes: _______________________________________________________________________________
(1) | Accumulated amortization on deferred financing fees was $4.9 million and $4.1 million as of June 30, 2013 and December 31, 2012, respectively.
(2) | Accumulated amortization on leasing costs was $5.6 million and $6.6 million as of June 30, 2013 and December 31, 2012, respectively.
(3) | Accumulated depreciation on corporate furniture, fixtures and equipment was $5.9 million and $6.2 million as of June 30, 2013 and December 31, 2012, respectively.
Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands):
| As of
| June 30, 2013 |  | December 31, 2012
Accrued interest payable | $ | 36,730 |  |  | $ | 29,521 |
Accrued expenses | 38,716 |  |  | 50,467 |
Property taxes payable | 10,573 |  |  | 8,206 |
Unearned operating lease income | 8,976 |  |  | 11,294 |
Security deposits and other investment deposits(1) | 5,133 |  |  | 13,717 |
Derivative liabilities | 2,043 |  |  | 3,435 |
Other liabilities | 10,588 |  |  | 15,820 |
Accounts payable, accrued expenses and other liabilities | $ | 112,759 |  |  | $ | 132,460 |
Explanatory Note: _______________________________________________________________________________
(1) | During the six months ended June 30, 2013, $8.9 million of restricted cash collateralizing a letter of credit related to one of the Company's loan investments was disbursed.
Deferred tax assets and liabilities of the Company's TRS entities were as follows ($ in thousands):
| As of
| June 30, 2013 |  | December 31, 2012
Deferred tax assets(1) | $ | 51,473 |  |  | $ | 40,800 |
Valuation allowance | (51,473 | ) |  | (40,800 | )
Net deferred tax assets (liabilities) | $ | — |  |  | $ | — |
Explanatory Note: _______________________________________________________________________________
(1) | Deferred tax assets as of June 30, 2013, include real estate basis differences of $32.0 million, net operating loss carryforwards of $6.5 million, investment basis differences of $8.5 million and capital loss carryforwards of $4.3 million. Deferred tax assets as of December 31, 2012, include real estate basis differences of $31.2 million, net operating loss carryforwards of $10.8 million and investment basis differences of $(1.2) million.

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