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Other Assets and Other Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2022
Other Assets and Other Liabilities [Abstract] |
Schedule of deferred expenses and other assets, net | Deferred expenses and other assets, net, consist of the following items ($ in thousands):(1)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of | ​
​ |  | June 30, 2022 |  | December 31, 2021 | ​
Other assets(2) | ​ | $ | 19,006 | ​ | $ | 16,040 | ​
Operating lease right-of-use assets(3) | ​ |  | 18,101 | ​ |  | 20,437 | ​
Restricted cash | ​ |  | 5,179 | ​ |  | 54,395 | ​
Other receivables | ​ |  | 3,739 | ​ |  | 5,054 | ​
Corporate furniture, fixtures and equipment, net(4) | ​ |  | 1,696 | ​ |  | 1,852 | ​
Leasing costs, net(5) | ​ |  | 665 | ​ |  | 818 | ​
Intangible assets, net(6) | ​ | ​ | 350 | ​ | ​ | 1,209 | ​
Deferred financing fees, net | ​ |  | 204 | ​ |  | 629 | ​
Deferred expenses and other assets, net | ​ | $ | 48,940 | ​ | $ | 100,434 | ​
(1) | Certain items have been reclassified to “Real estate and other assets available and held for sale and classified as discontinued operations” (refer to Note 3).
(2) | Other assets primarily includes prepaid expenses, deposits for certain real estate assets and management fees and expense reimbursements due from SAFE (refer to Note 8).
(3) | Right-of-use lease assets relate primarily to the Company’s leases of office space. Right-of use lease assets initially equal the lease liability. For operating leases, rent expense is recognized on a straight-line basis over the term of the lease and is recorded in “General and administrative” and “Real estate expense” in the Company’s consolidated statements of operations. During the three months ended June 30, 2022 and 2021, the Company recognized $1.2 million and $1.2 million, respectively, in "General and administrative" and $0.3 million and $0.2 million, respectively, in "Real estate expense" in its consolidated statements of operations relating to operating leases. During the six months ended June 30, 2022 and 2021, the Company recognized $2.4 million and $2.5 million, respectively, in "General and administrative" and $0.4 million and $0.3 million, respectively, in "Real estate expense" in its consolidated statements of operations relating to operating leases.
(4) | Accumulated depreciation on corporate furniture, fixtures and equipment was $12.0 million and $14.8 million as of June 30, 2022 and December 31, 2021, respectively.
(5) | Accumulated amortization of leasing costs was $0.4 million and $1.1 million as of June 30, 2022 and December 31, 2021, respectively.
(6) | Intangible assets, net includes above market and in-place lease assets and lease incentives related to the acquisition of real estate assets. Accumulated amortization on intangible assets, net was $0.1 million and $10.2 million as of June 30, 2022 and December 31, 2021, respectively. These intangible lease assets are amortized over the remaining term of the lease. The amortization expense for in-place leases for the three and six months ended June 30, 2021 was $0.1 million and $0.7 million, respectively. This amount is included in “Depreciation and amortization” in the Company’s consolidated statements of operations. As of June 30, 2022, the weighted average remaining amortization period for the Company’s intangible assets was approximately 5.4 years.
Schedule of accounts payable, accrued expenses and other liabilities | Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of | ​
​ |  | June 30, 2022 |  | December 31, 2021 | ​
Accrued expenses | ​ | $ | 65,760 | ​ | $ | 151,810 | ​
Accrued interest payable | ​ |  | 27,556 | ​ |  | 31,293 | ​
Other liabilities(1) | ​ | ​ | 27,120 | ​ | ​ | 30,362 | ​
Operating lease liabilities (see table above) | ​ |  | 20,355 | ​ |  | 23,267 | ​
Accounts payable, accrued expenses and other liabilities | ​ | $ | 140,791 | ​ | $ | 236,732 | ​
(1) | As of June 30, 2022 and December 31, 2021, other liabilities includes $20.2 million and $20.1 million, respectively, of deferred income. As of December 31, 2021, other liabilities includes $0.1 million of expected credit losses for unfunded loan commitments.

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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