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Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Schedule of Operating Real Estate Estimated Useful Life
Operating real estate is depreciated using the straight-line method over the estimated useful life of the assets, summarized as follows:
Category:
 
Term:
Building
 
40 years
Building improvements
 
Lesser of the useful life or remaining life of the building
Tenant improvements
 
Lesser of the useful life or remaining term of the lease
Furniture and fixtures
 
7 to 10 years
Land improvements
 
15 years
Summary of Deferred Costs and Intangible Assets
The following table presents a summary of deferred costs and intangible assets as of September 30, 2016 and December 31, 2015 (dollars in thousands):
 
 
September 30, 2016 (Unaudited)
 
December 31, 2015
 
 
 
Deferred costs and intangible assets:
 
 
 
 
In-place lease value, net
 
$
12,293

 
$
21,307

Goodwill
 
22,112

 
22,112

Other intangible assets
 
380

 
380

Subtotal intangible assets
 
34,785

 
43,799

Deferred financing and other costs, net
 
375

 
462

Total
 
$
35,160

 
$
44,261

Schedule of Other Assets
The following table presents a summary of other assets as of September 30, 2016 and December 31, 2015 (dollars in thousands):
 
 
September 30, 2016 (Unaudited)
 
December 31, 2015
 
 
 
Other assets:
 
 
 
 
Investment deposits and pending deal costs
 
$
6,683

 
$
6,629

Remainder interest in condominium units(1)
 
4,964

 
5,401

Deferred tax assets
 

 
7,026

Prepaid expenses
 
1,655

 
790

Other
 
1,394

 
536

Total
 
$
14,696

 
$
20,382

 
 
 
 
 

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(1)
Represents future interests in property subject to life estates (“Remainder Interest”).