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OTHER ASSETS | 3 Months Ended
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Mar. 31, 2021
OTHER ASSETS |
OTHER ASSETS | NOTE 4. PREPAID EXPENSES and OTHER ASSETS ​ Approximately $2,790,000, and $2,830,000 of security deposits are included in prepaid expenses and other assets at March 31, 2021 and December 31, 2020, respectively. The security deposits and escrow accounts are restricted cash. ​ Also, included in prepaid expenses and other assets at March 31, 2021 and December 31, 2020 is approximately $1,225,000 and $1,073,000, respectively, held in escrow to fund future capital improvements. ​ Intangible assets on the acquisition of Mill Street Apartments are included in prepaid expenses and other assets. Intangible assets are approximately $45,000 net of accumulated amortization of approximately $1,373,000 and approximately $51,000 net of accumulated amortization of approximately $1,367,000 at March 31, 2021 and December 31, 2020, respectively. Financing fees in association with the line of credit of approximately $9,000 and $42,000 are net of accumulated amortization of approximately $16,000 and $6,000 at March 31, 2021 and December 31, 2020 respectively. ​

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