6. Other Assets

Other assets, net consisted of the following (in thousands):



	March 31,		December 31,
	2014		2013
	(unaudited)
Property and equipment, net	$	2,366	$	2,478
Land held for development		188		188
Intangibles, net		7,127		7,277
Interest rate cap derivative agreements		10		16
Cash trap receivables		—		4,443
Interest receivable		237		—
Other receivables		8,391		3,942
Other		2,664		2,762
	$	20,983	$	21,106

Property and equipment, net consisted of the following (in thousands):



	March 31,		December 31,
	2014		2013
	(unaudited)
Property and equipment cost basis	$	11,058	$	10,933
Accumulated depreciation		(8,692)		(8,455)
Property and equipment, net	$	2,366	$	2,478

The Company’s other assets, net as of March 31, 2014 and December 31, 2013, include BuyEfficient’s intangible assets totaling $7.1 million and $7.3 million, respectively, net of accumulated amortization related to certain trademarks, customer and supplier relationships and intellectual property related to internally developed software. These intangibles are amortized using the straight-line method over their useful lives ranging between seven and 20 years. Accumulated amortization totaled $1.9 million and $1.8 million at March 31, 2014 and December 31, 2013, respectively, and amortization expense totaled $0.1 million for both the three months ended March 31, 2014 and 2013.

As of December 31, 2013, $4.4 million of the Company’s cash remained trapped by the lender associated with the mortgage secured by the Hilton Del Mar, which the Company sold in 2012, and whose mortgage was assumed by the buyer. In February 2014, the lender released the cash, and the entire $4.4 million was returned to the Company.

In January 2014, the Company was notified of its successful appeal of the real estate valuation for the Hilton San Diego Bayfront with the San Diego County Assessor’s office. During the first quarter 2014, the Company recorded a receivable of approximately $4.4 million related to current and prior year real estate taxes based on current property tax rates.