PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

The balance of property and equipment, net is as follows (in thousands):



	December 31, 2017			December 31, 2016
Land	$	5,818		$	5,818
Building	14,984			14,679
Site improvements	950			950
Computer equipment and capitalized software	16,885			14,886
Leasehold improvements	3,257			3,048
Furniture and other equipment	1,203			826
Aircraft and automobile	2,621			1,988
Projects in progress	3,756			3,006
Total gross property and equipment	49,474			45,201
Accumulated depreciation	(13,043		)	(9,739		)
Total property and equipment, net	$	36,431		$	35,462

Unamortized capitalized software development costs, in service or under development, are $9.5 million and $9.4 million at December 31, 2017 and 2016, respectively. Capitalized software development depreciation expense was $5.7 million, $4.3 million and $2.6 million for the years ended December 31, 2017, 2016 and 2015, respectively.

In December 2016, the Company acquired two office buildings in Charlotte, North Carolina for $23.5 million in cash, which included $0.1 million in acquisition-related costs which were capitalized. The Company intends to utilize one or both buildings in the future as the corporate headquarters and to continue to rent any unused space. The acquisition has been accounted for as an asset purchase and the allocation of the purchase price to the assets acquired is as follows (in thousands):



	Fair Value		Weighted Average Depreciation Life
Land	$	5,818	N/A
Building	14,679		34.0 years
Site improvements	950		6.6 years
Tenant leases	2,029		3.2 years
Total purchase price	$	23,476

Future rental income from the building tenants as of December 31, 2017 under operating lease agreements having an initial or remaining non-cancelable lease term in excess of one year are as follows (in thousands):



Year ending December 31,	Amount
2018	$	815
2019	558
2020	574
2021	188
2022	37
Thereafter	102
Total	$	2,274

Rental income of $1.6 million in 2017 is included in other income on the accompanying consolidated statement of operations and comprehensive income.