Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Deferred Financing Costs, Net of Accumulated Amortization

In addition, the Company also made modifications to its Richmond credit facility which resulted in the write off of certain deferred financing costs. During the year ended December 31, 2013, the Company wrote off unamortized financing costs of $2.2 million in connection with the expansion of its revolving and term credit facilities. In addition, during the year ended December 31, 2013, the Company wrote off unamortized financing costs of $1.3 million in connection with an asset securitization which the Company stopped pursuing due to the expansion of the credit facility. Deferred financing costs, net of accumulated amortization are as follows:

	December 31,			December 31,
(dollars in thousands)	2014		2013
Deferred financing costs	$	18,152	$	9,159
Accumulated amortization		(1,683)		(1,867)
Deferred financing costs, net	$	16,469	$	7,292

Deferred Leasing Costs, Net of Accumulated Amortization

Deferred leasing costs, net of accumulated amortization are as follows (excluding $3.2 million related to a leasing arrangement at our Princeton facility in 2014):

	December 31,		December 31,
(dollars in thousands)	2014		2013
Deferred leasing costs	$	26,799	$	17,374
Accumulated amortization		(9,378)		(5,516)
Deferred leasing costs, net	$	17,421	$	11,858

Summary of Temporary Differences and Carry Forwards Which Give Rise to the Deferred Tax Assets and Liabilities

Temporary differences and carry forwards which give rise to the deferred tax assets and liabilities are as follows:

	For the Year Ended December 31,
	2014		2013		2012
Deferred tax liabilities
Property and equipment	$	(5,784)	$	(4,905)	$	(4,852)
Other		(1,427)		(873)		(551)
Gross deferred tax liabilities		(7,211)		(5,778)		(5,403)
Deferred tax assets
Net operating loss carryforwards		9,137		5,861		6,694
Deferred revenue and setup charges		868		583		467
Derivative liability		-		-		-
Other		601		699		113
Gross deferred tax assets		10,606		7,143		7,274
Net deferred tax assets		3,395		1,365		1,871
Valuation allowance		(3,395)		(1,365)		(1,871)
Net deferred	$	-	$	-	$	-

Financial Instruments Held at Fair Value

The Company’s financial instruments held at fair value are presented below as of December 31, 2014 and 2013 (dollars in thousands):

		Fair Value Measurements
	Carrying Value	Level 1	Level 2	Level 3
December 31, 2014
Financial Liabilities:
Interest rate swap liability(1)	$                      -	$            -	$             -	$            -
December 31, 2013
Financial Liabilities:
Interest rate swap liability(1)	$                  453	$            -	$         453	$            -

(1) The Company used inputs from quoted prices for similar assets and liabilities in active markets that are directly or indirectly observable relating to the measurement of the interest rate swaps at December 31, 2013. The fair value measurement of the interest rate swaps have been classified as Level 2.  The swaps matured on September 28, 2014, and as such, there were no amounts outstanding on the consolidated balance sheet as of December 31, 2014 related to interest rate swaps.