Quarterly report pursuant to Section 13 or 15(d)

Deferred Costs and Other Assets, Net

v3.21.1
Deferred Costs and Other Assets, Net
 3 Months Ended
Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deferred Costs and Other Assets, Net Deferred Costs and Other Assets, Net
Deferred costs and other assets, net of amortization are as follows (in thousands):
March 31, 2021 December 31, 2020
(unaudited)  
Leases in place, net $ 9,491  $ 10,233 
Ground lease sandwich interest, net 1,872  1,941 
Lease origination costs, net 1,336  1,334 
Tenant relationships, net 1,182  1,308 
Legal and marketing costs, net 20  22 
Other 1,846  592 
    Total deferred costs and other assets, net $ 15,747  $ 15,430 
As of March 31, 2021 and December 31, 2020, the Company’s intangible accumulated amortization totaled $60.86 million and $60.33 million, respectively. During the three months ended March 31, 2021 and 2020, the Company’s intangible amortization expense totaled $1.03 million and $1.86 million, respectively. Future amortization of leases in place, ground lease sandwich interest, lease origination costs, tenant relationships, and legal and marketing costs is as follows (in thousands, unaudited):
Leases In
Place, net		 Ground Lease Sandwich Interest, net  Lease
Origination
Costs, net		 Tenant
Relationships, net		 Legal &
Marketing
Costs, net		 Total
For the remaining nine months ending December 31, 2021 $ 1,925  $ 205  $ 173  $ 318  $ 6  $ 2,627 
December 31, 2022 2,109  274  188  354  6  2,931 
December 31, 2023 1,632  274  170  227  5  2,308 
December 31, 2024 1,119  274  152  128  3  1,676 
December 31, 2025 794  274  120  62  —  1,250 
December 31, 2026 422  274  102  11  —  809 
Thereafter 1,490  297  431  82  —  2,300 
$ 9,491  $ 1,872  $ 1,336  $ 1,182  $ 20  $ 13,901