Other Assets, Net |
5. Other Assets, Net Other assets, net consisted of the following as of March 31, 2018 and December 31, 2017: | | | | | | | | | | March 31, 2018 | | December 31, 2017 | Deferred rent receivables | $ | 2,546,000 |
| | $ | 1,912,000 |
| Prepaid expenses and deposits | 1,696,000 |
| | 1,532,000 |
| Deferred financing costs, net of accumulated amortization of $772,000 and $554,000 as of March 31, 2018 and December 31, 2017, respectively(1) | 1,238,000 |
| | 1,456,000 |
| Lease commissions, net of accumulated amortization of $17,000 and $9,000 as of March 31, 2018 and December 31, 2017, respectively | 320,000 |
| | 326,000 |
| | $ | 5,800,000 |
| | $ | 5,226,000 |
|
___________ | | (1) | In accordance with ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, or ASU 2015-03, and ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, or ASU 2015-15, deferred financing costs, net only include costs related to the Corporate Line of Credit, as defined in Note 7, Line of Credit and Term Loan. |
Amortization expense on deferred financing costs of the Corporate Line of Credit for the three months ended March 31, 2018 and 2017 was $218,000 and $87,000, respectively. Amortization expense on deferred financing costs of the Corporate Line of Credit is recorded to interest expense in our accompanying condensed consolidated statements of operations. Amortization expense on lease commissions for the three months ended March 31, 2018 and 2017 was $8,000 and $0, respectively.
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