| OTHER ASSETS |
OTHER ASSETS Other assets consist of the following (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
June 30, 2019 |
|
December 31, 2018 |
Customer in-place leases, net of accumulated amortization of $5,568 and $5,090, respectively |
$ |
8,029 |
|
|
$ |
4,063 |
|
Receivables: |
|
|
|
Trade, net |
3,374 |
|
|
3,402 |
|
PROs and other affiliates |
1,664 |
|
|
2,027 |
|
Receivables from unconsolidated real estate ventures |
4,454 |
|
|
4,573 |
|
Property acquisition and other deposits |
275 |
|
|
20,977 |
|
Interest rate swaps |
2,186 |
|
|
16,164 |
|
Prepaid expenses and other |
5,444 |
|
|
4,266 |
|
Corporate furniture, equipment and other, net |
1,704 |
|
|
1,574 |
|
Trade name |
3,200 |
|
|
3,200 |
|
Management contract, net of accumulated amortization of $1,918 and $1,564, respectively |
8,703 |
|
|
9,057 |
|
Tenant reinsurance intangible, net of accumulated amortization of less than $100 |
14,580 |
|
|
— |
|
Goodwill |
5,750 |
|
|
5,750 |
|
Total |
$ |
59,363 |
|
|
$ |
75,053 |
|
Amortization expense related to customer in-place leases amounted to $2.8 million and $3.3 million for the three months ended June 30, 2019 and 2018, respectively, and $5.3 million and $6.3 million during the six months ended June 30, 2019 and 2018, respectively. Amortization expense related to the management contract amounted to $0.2 million and $0.2 million for the three months ended June 30, 2019 and 2018, respectively, and $0.4 million and $0.4 million during the six months ended June 30, 2019 and 2018, respectively. Amortization expense related to the tenant reinsurance intangible amounted to less than $0.1 million for the three and six months ended June 30, 2019.
|