| Components of Other Assets and Deferred Charges, Net |
Other assets and deferred charges, net, at December 31, 2021 and 2020 are composed of the following:
|
|
|
December 31, |
|
|
|
|
2021 |
|
|
2020 |
|
|
Lease origination costs (a) |
|
$ |
15,233,000 |
|
|
$ |
22,331,000 |
|
|
Right-of-use assets |
|
|
9,861,000 |
|
|
|
13,828,000 |
|
|
Prepaid expenses |
|
|
7,255,000 |
|
|
|
6,906,000 |
|
|
Investments related to share-based compensation |
|
|
955,000 |
|
|
|
948,000 |
|
|
Unsecured revolving credit facility financing costs |
|
|
1,134,000 |
|
|
|
623,000 |
|
|
Leasehold improvements, furniture and fixtures |
|
|
50,000 |
|
|
|
85,000 |
|
|
Other |
|
|
582,000 |
|
|
|
534,000 |
|
|
Total other assets and deferred charges, net |
|
$ |
35,070,000 |
|
|
$ |
45,255,000 |
|
|
|
(a) |
Lease origination costs include the unamortized balance of intangible lease assets resulting from purchase accounting allocations of $4.5 million (cost of $17.8 million and accumulated amortization of $13.3 million) and $5.5 million (cost of $19.4 million and accumulated amortization of $13.9 million) as of December 31, 2021 and 2020, respectively. |
|
| Schedule of Future Charges of Unamortized Balances of Deferred Lease Origination Costs and Deferred Financing Costs |
|
|
|
Lease |
|
|
Unsecured revolving |
|
|
|
|
origination |
|
|
credit facility |
|
|
|
|
costs |
|
|
financing costs |
|
|
2022 |
|
$ |
2,311,000 |
|
|
$ |
424,000 |
|
|
2023 |
|
|
2,046,000 |
|
|
|
424,000 |
|
|
2024 |
|
|
1,733,000 |
|
|
|
286,000 |
|
|
2025 |
|
|
1,451,000 |
|
|
|
— |
|
|
2026 |
|
|
1,263,000 |
|
|
|
— |
|
|
Thereafter |
|
|
6,429,000 |
|
|
|
— |
|
|
|
|
$ |
15,233,000 |
|
|
$ |
1,134,000 |
|
|