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Other Assets, Net
9 Months Ended
Sep. 30, 2018
Other Assets [Abstract]  
Other Assets, Net

5.

Other Assets, Net

Other assets consist of the following (in thousands):  

 

 

September 30, 2018

 

 

December 31, 2017

 

Intangible assets:

 

 

 

 

 

 

 

In-place leases, net

$

32,087

 

 

$

71,809

 

Above-market leases, net

 

7,739

 

 

 

14,391

 

Lease origination costs

 

4,395

 

 

 

10,029

 

Tenant relations, net

 

44,531

 

 

 

86,178

 

Total intangible assets, net(A)

 

88,752

 

 

 

182,407

 

Other assets:

 

 

 

 

 

 

 

Prepaid expenses(B)

 

7,286

 

 

 

10,806

 

Other assets

 

4,593

 

 

 

3,869

 

Deposits

 

4,845

 

 

 

5,076

 

Deferred charges, net

 

6,300

 

 

 

7,901

 

Total other assets, net

$

111,776

 

 

$

210,059

 

 

(A)

The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $18.1 million and $14.4 million for the three months ended September 30, 2018 and 2017, respectively, and $28.2 million and $47.0 million for the nine months ended September 30, 2018 and 2017, respectively.

 

(B)

Includes Puerto Rico prepaid tax assets of $4.0 million at December 31, 2017.  In connection with the spin-off of RVI, the Company wrote off the remaining $4.0 million prepaid tax assets to Other Income (Expense), net in the Company’s consolidated statements of operations in the second quarter of 2018..