Other Assets And Deferred Charges, Net

12 Months Ended

Dec. 31, 2018

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Note 7. Other Assets and Deferred Charges, Net

Other assets and deferred charges, net at December 31, 2018 and 2017 are composed of the following:

	December 31,
	2018		2017
Lease origination costs (a)	$	21,623,000	$	19,343,000
Interest rate swaps		8,871,000		6,394,000
Prepaid expenses		5,790,000		5,377,000
Unsecured revolving credit facility financing costs		1,627,000		2,207,000
Leasehold improvements, furniture and fixtures		359,000		393,000
Investments related to share-based compensation		616,000		552,000
Other		1,756,000		1,084,000
Total other assets and deferred charges, net	$	40,642,000	$	35,350,000

(a)

Lease origination costs include the unamortized balance of intangible lease assets resulting from purchase accounting allocations of $7.5 million (cost of $19.9 million and accumulated amortization of $12.4 million) and $8.3 million (cost of $20.5 million and accumulated amortization of $12.2 million) as of December 31, 2018 and 2017, respectively.

Deferred charges are amortized over the terms of the related agreements. Amortization expense related to deferred charges (including amortization of deferred financing costs included in non-operating income and expense) amounted to $5.2 million, $5.1 million and $5.4 million for 2018, 2017, and 2016, respectively. The unamortized balances of deferred lease origination costs is net of accumulated amortization of $29.8 million at December 31, 2018. In addition, deferred financing costs relating to the unsecured revolving credit facility is net of accumulated amortization of $0.8 million at December 31, 2018. Deferred lease origination costs and deferred financing costs relating to the unsecured revolving credit facility will be charged to future operations as follows:

	Lease		Unsecured revolving
	origination		credit facility
	costs		financing costs
2019	$	3,194,000	$	610,000
2020		2,576,000		610,000
2021		2,193,000		407,000
2022		1,860,000		—
2023		1,568,000		—
Thereafter		10,232,000		—
	$	21,623,000	$	1,627,000