Other Assets and Other Liabilities

Deferred expenses and other assets, net, consist of the following items ($ in thousands):



	As of
	September 30, 2018		December 31, 2017
Intangible assets, net⁽¹⁾	$	158,184	$	27,124
Other receivables⁽²⁾	46,193		56,369
Restricted cash	34,974		20,045
Other assets⁽³⁾	32,862		23,081
Leasing costs, net⁽⁴⁾	6,487		9,050
Corporate furniture, fixtures and equipment, net⁽⁵⁾	4,123		4,652
Deferred financing fees, net	1,017		1,409
Deferred expenses and other assets, net	$	283,840	$	141,730

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(1)

Intangible assets, net includes above market and in-place lease assets and lease incentives related to the acquisition of real estate assets. On June 30, 2018, the Company consolidated the Net Lease Venture (refer to Note 7) and recorded $135.3 million of intangible assets to "Deferred expenses and other assets, net" on the Company's consolidated balance sheet. Accumulated amortization on intangible assets, net was $32.6 million and $34.9 million as of September 30, 2018 and December 31, 2017, respectively. The amortization of above market leases and lease incentive assets decreased operating lease income in the Company's consolidated statements of operations by $0.9 million and $1.6 million for the three and nine months ended September 30, 2018, respectively. The amortization of above market leases and lease incentive assets decreased operating lease income in the Company's consolidated statements of operations by $0.5 million and $2.0 million for the three and nine months ended September 30, 2017, respectively. These intangible lease assets are amortized over the remaining term of the lease. The amortization expense for in-place leases was $4.0 million and $4.7 million for the three and nine months ended September 30, 2018, respectively. The amortization expense for in-place leases was $0.3 million and $1.5 million for the three and nine months ended September 30, 2017, respectively. These amounts are included in "Depreciation and amortization" in the Company's consolidated statements of operations.


(2)	As of September 30, 2018 and December 31, 2017, includes $26.0 million of reimbursements receivable related to the construction and development of an operating property.


(3)	Other assets primarily includes derivative assets, prepaid expenses and deposits for certain real estate assets.


(4)	Accumulated amortization of leasing costs was $4.2 million and $4.7 million as of September 30, 2018 and December 31, 2017, respectively.


(5)	Accumulated depreciation on corporate furniture, fixtures and equipment was $11.5 million and $10.5 million as of September 30, 2018 and December 31, 2017, respectively.

Accounts payable, accrued expenses and other liabilities consist of the following items ($ in thousands):



	As of
	September 30, 2018		December 31, 2017
Accrued expenses⁽¹⁾	$	92,783	$	101,035
Other liabilities⁽²⁾	84,675		79,015
Intangible liabilities, net⁽³⁾	38,889		8,021
Accrued interest payable	28,486		49,933
Accounts payable, accrued expenses and other liabilities	$	244,833	$	238,004

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(1)	As of September 30, 2018 and December 31, 2017, accrued expenses includes $2.8 million and $2.5 million, respectively, associated with "Real estate available and held for sale" on the Company's consolidated balance sheets.

(2)

As of September 30, 2018 and December 31, 2017, other liabilities includes $18.6 million and $29.2 million, respectively, related to profit sharing arrangements with developers for certain properties sold. As of September 30, 2018 and December 31, 2017, includes $1.7 million and $1.6 million, respectively, associated with "Real estate available and held for sale" on the Company's consolidated balance sheets. As of September 30, 2018 and December 31, 2017, other liabilities also includes $11.8 million and $6.2 million, respectively, related to tax increment financing bonds which were issued by government entities to fund development within two of the Company's land projects. The amount represents tax assessments associated with each project, which will decrease as the Company sells units.

(3)

Intangible liabilities, net includes below market lease liabilities related to the acquisition of real estate assets. On June 30, 2018, the Company consolidated the Net Lease Venture (refer to Note 7) and recorded $34.3 million of intangible liabilities to "Accounts payable, accrued expenses and other liabilities" on the Company's consolidated balance sheet. Accumulated amortization on below market lease liabilities was $8.5 million and $7.8 million as of September 30, 2018 and December 31, 2017, respectively. The amortization of below market leases increased operating lease income in the Company's consolidated statements of operations by $3.1 million and $3.4 million for the three and nine months ended September 30, 2018, respectively. The amortization of below market leases increased operating lease income in the Company's consolidated statements of operations by $0.2 million and $1.2 million for the three and nine months ended September 30, 2017, respectively.