Note 5—Other Assets

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


	At		At
	September 30,		December 31,
(in thousands)	2019		2018
Other assets:
Real estate owned	$	8,376	$	3,769
Debt issue costs		2,190		─
Derivative assets		574		5,797
Accrued interest receivable		1,468		854
Other assets		442		520
Total other assets	$	13,050	$	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
	September 30,		December 31,
(in thousands)	2019		2018
Building, furniture, fixtures and land improvement	$	5,757	$	1,150
Land		2,619		2,619
Total	$	8,376	$	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 and nine months ended September 30, 2019 and September 30, 2018, nor were any impairment losses recognized by the Company during such reporting periods in connection with REO.

Debt Issuance Costs

On September 19, 2019, the Company incurred, but deferred in the Consolidated Balance Sheets, $2.2 million of debt issuance costs in connection with the execution by MMA Energy Holdings, LLC (“MEH” or “Borrower”), a wholly owned subsidiary of the Company, of a credit agreement with various lenders that initially provided for a $70.0 million revolving credit facility. On October 11, 2019, the committed amount of the revolving credit facility increased to $100.0 million upon the joinder of two additional lenders. See Note 6, “Debt,” for more information.

Such debt issuance costs are amortized ratably over the three-year term of the revolving credit facility. During the three and nine months ended September 30, 2019, the Company recognized a de minimis amount of interest expense in the Company’s Consolidated Statements of Operations related to the amortization of debt issuance costs. At September 30, 2019, the unamortized balance of debt issuance costs was $2.2 million.

Derivative Assets

At September 30, 2019 and December 31, 2018, the Company recognized $0.6 million and $5.8 million, respectively, of derivative assets. See Note 7, “Derivative Instruments,” for more information.