XML 35 R15.htm IDEA: XBRL DOCUMENT v3.6.0.2
Other Assets
 12 Months Ended
Dec. 31, 2016
Other Assets [Abstract]  
Other Assets
Other Assets
Real Estate Mortgages Receivable
As of December 31, 2016, and 2015, we had total real estate mortgages receivable with an aggregate carrying value of $8.1 million included in other assets in our consolidated balance sheets.  We provided mortgage financing totaling $7.7 million at 6.0% per annum in connection with our sale of three properties (18 buildings) in January 2013 in Dearborn, MI; this real estate mortgage requires monthly interest payments and matures on January 24, 2023.  We also provided mortgage financing totaling $0.4 million at 6.0% per annum in connection with our sale of a property in Salina, NY in April 2012. This real estate mortgage requires monthly interest payments and matures on April 30, 2019.

We monitor the payment history of the borrowers and have determined that no allowance for losses related to these real estate mortgages receivable was necessary at December 31, 2016, and 2015. 
Deferred Financing Fees, Deferred Leasing Costs and Capitalized Lease Incentives
The following table summarizes our deferred financing fees related to our unsecured revolving credit facility included in other assets, deferred leasing costs and capitalized lease incentives as of December 31, 2016, and 2015 (in thousands):
 
December 31,
 
2016
 
2015
Deferred financing fees
$
14,458

 
$
14,458

Accumulated amortization
(11,093
)
 
(9,478
)
Deferred financing fees, net
$
3,365

 
$
4,980

 
 
 
 
Deferred leasing costs
$
133,771

 
$
166,390

Accumulated amortization
(41,148
)
 
(56,162
)
Deferred leasing costs, net
$
92,623

 
$
110,228

 
 
 
 
Capitalized lease incentives
$
10,344

 
$
11,623

Accumulated amortization
(2,680
)
 
(2,498
)
Capitalized lease incentives, net
$
7,664

 
$
9,125



Future amortization of deferred leasing costs and capitalized lease incentives to be recognized by us during the current terms of our leases as of December 31, 2016 are approximately (in thousands):
 
Deferred Leasing Costs
 
Capitalized Lease Incentives
2017
$
12,796

 
$
1,319

2018
12,318

 
1,287

2019
11,611

 
1,552

2020
10,291

 
1,273

2021
8,687

 
996

Thereafter
36,920

 
1,237

 
$
92,623

 
$
7,664