Note 5—Other Assets

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


	At		At
	December 31,		December 31,
(in thousands)	2019		2018
Other assets:
Real estate owned	$	8,397	$	3,769
Debt issue costs		2,675		─
Derivative assets		597		5,797
Accrued interest receivable		853		854
Other assets		462		520
Total other assets	$	12,984	$	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
	December 31,		December 31,
(in thousands)	2019		2018
Land improvements	$	5,778	$	1,150
Land		2,619		2,619
Total	$	8,397	$	3,769

Land improvements are depreciated over a period of 15 years.

The Company’s investments include the Company’s REO, which consists of a parcel of land that is currently in the process of being developed. As a result of the development activity, no depreciation expense was recognized in connection with this land investment for the years ended December 31, 2019 and December 31, 2018, nor were any impairment losses recognized by the Company during these periods in connection with REO. On January 15, 2020, the Company invested $5.9 million in additional land improvements that were capitalized as part of our investment balance.

Debt Issuance Costs

During 2019, the Company incurred, but deferred in the Consolidated Balance Sheets, $2.9 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 for a revolving credit facility with various lenders. These costs are being amortized ratably over the three-year term of the revolving credit facility. During the year ended December 31, 2019, the Company recognized $0.2 million of interest expense in the Company’s Consolidated Statements of Operations related to the amortization of these debt issuance costs. At December 31, 2019, the unamortized balance of debt issuance costs was $2.7 million. See Note 6, “Debt,” for more information.

Derivative Assets

At December 31, 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.