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Prepaid and Other Assets (Tables) | 3 Months Ended
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Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Prepaid Expenses and Other Assets | Prepaid and other assets consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):
| March 31, 2024 |  | December 31, 2023
Pursuit costs (1) | $ | 639 |  |  | $ | 1,081 |
Prepaid expenses | 1,127 |  |  | 981 |
Accounts receivable, net | 572 |  |  | 205 |
Deposits | 63 |  |  | 63 |
Other assets | 487 |  |  | 451 |
Total prepaid and other assets | $ | 2,888 |  |  | $ | 2,781 |
(1) |  | Pursuit costs represent expenses incurred related to new fund formation, primarily for professional, legal, consulting, accounting and tax services. As the funds raise equity investments and operating cash flow, as applicable, these costs are reimbursed by the respective funds to the Company. The Company assesses collectability and expenses any amounts in which collectability is not reasonably assured.
Prepaid and Other Assets of the Consolidated Funds Prepaid and other assets of the consolidated funds consisted of the following as of March 31, 2024 and December 31, 2023 (in thousands):
| March 31, 2024 |  | December 31, 2023
Derivative assets | $ | 1,401 |  |  | $ | 1,216 |
Prepaid expenses | 739 |  |  | 1,735 |
Deposits | 98 |  |  | 669 |
Pursuit costs (1) | 1,174 |  |  | 1,102 |
Deferred franchise fees, net | 64 |  |  | 278 |
Intangibles, net | — |  |  | 184 |
Inventory | 44 |  |  | 142 |
Other assets (2) | 259 |  |  | 6,351 |
Total prepaid and other assets | $ | 3,779 |  |  | $ | 11,677 |
__________________________________ (1) Pursuit costs represent expenses incurred related to new fund formation, primarily for professional, legal, consulting, accounting and tax services. As the funds raise equity investments and operating cash flow, as applicable, these costs are reimbursed by the respective funds to the Company. The Company assesses collectability and expenses any amounts in which collectability is not reasonably assured. (2) Other assets as of December 31, 2023, primarily represents incremental costs, including professional, legal, consulting, accounting and tax services, directly attributable to Caliber Hospitality Trust that are deferred and will be charged against the gross proceeds of the planned public offering.

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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 No definition available. + Details
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