Note 5—Other Assets

The following table provides information related to the carrying value of the Company’s other assets:


	At		At
	March 31,		December 31,
(in thousands)	2019		2018
Other assets:
Real estate owned	$	8,216	$	3,769
Derivative assets		3,873		5,797
Accrued interest receivable		1,888		854
Other assets		377		520
Total other assets	$	14,354	$	10,940

Real Estate Owned (“REO”)

The following table provides information about the carrying value of the Company’s REO held for use, net:


	At		At
	March 31,		December 31,
(in thousands)	2019		2018
Building, furniture, fixtures and land improvement	$	5,597	$	1,150
Land		2,619		2,619
Total	$	8,216	$	3,769

Buildings are depreciated over a period of 40 years. Furniture and fixtures are depreciated over a period of six to seven years and land improvements are depreciated over a period of 15 years.

The Company’s OA&L portfolio includes the Company’s REO, which consists of a parcel of land that is currently in the process of being developed. During the first quarter of 2019, the Company invested $4.4 million for land improvement. As a result of the development activity, no depreciation expense was recognized in connection with this land investment for the three months ended March 31, 2019 and March 31, 2018, nor were any impairment losses recognized by the Company during such reporting periods in connection with REO.

Derivative Assets

At March 31, 2019 and December 31, 2018, the Company had recognized $3.9 million and $5.8 million, respectively, of derivative assets. See Note 7, “Derivative Instruments,” for more information.