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Escrow Deposits, Prepaid Expenses and Other Assets
 6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Escrow Deposits, Prepaid Expenses and Other Assets Escrow Deposits, Prepaid Expenses and Other Assets
The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of June 30, 2024 and December 31, 2023 (amounts in thousands):
June 30, 2024December 31, 2023
Consolidated land not owned$135,697 $147,330 
Escrow deposits, prepaid expenses and other124,869 136,640 
Commercial real estate, software, vehicles and FF&E, net99,622 96,862 
Operating lease right-of-use assets15,295 16,623 
Deferred costs and other intangibles, net6,597 7,630 
Notes receivable, net756 1,053 
Total$382,836 $406,138 

Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $4.8 million and $4.2 million for the three months ended June 30, 2024 and 2023, respectively, and $9.4 million and $8.4 million for the six months ended June 30, 2024 and 2023, respectively.

Deferred Costs and Other Intangibles, Net

Deferred costs and other intangibles, net consisted of the following as of June 30, 2024 and December 31, 2023 (amounts in thousands):
 June 30, 2024December 31, 2023
Deferred leasing costs$3,081 $2,865 
Deferred financing costs22,566 22,491 
 25,647 25,356 
Less: accumulated amortization(19,050)(17,726)
Total$6,597 $7,630 

Amortization expense related to deferred leasing costs was $0.8 million and $0.7 million for the three months ended June 30, 2024 and 2023, respectively, and $1.6 million and $1.4 million for the six months ended June 30, 2024 and 2023, respectively, and is included in depreciation and amortization within the condensed consolidated statements of operations. Amortization of deferred financing costs related to our revolving credit facility was $0.7 million and $0.6 million for the three months ended June 30, 2024 and 2023, respectively, and $1.4 million and $1.3 million for the six months ended June 30, 2024 and 2023, respectively, and is included in gross interest, prior to interest capitalization (see Note 8. Debt).

The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of June 30, 2024 for future periods (amounts in thousands):
Deferred
Leasing Costs
Deferred
Financing Costs (1)
Total
Remaining 2024$1,126 $1,444 $2,570 
2025521 2,722 3,243 
2026— 784 784 
Total$1,647 $4,950 $6,597 
(1)In July 2024, these unamortized deferred financing costs were written off as a result of the termination and replacement of the previous revolving credit facility. See Note 16. Subsequent Events for further details.