OTHER ASSETS - 10Q

3 Months Ended

Mar. 31, 2015

OTHER ASSETS

OTHER ASSETS

NOTE 4. OTHER ASSETS

Approximately $2,146,000 and $2,090,000 of security deposits are included in prepaid expenses and other assets at March 31, 2015 and December 31, 2014, respectively. The security deposits and escrow accounts are restricted cash.

Included in prepaid expenses and other assets at March 31, 2015 and December 31, 2014 is approximately $273,000 and $253,000, respectively, held in escrow to fund future capital improvements.

Intangible assets on the acquisition of Hamilton Green are included in prepaid expenses and other assets.  Intangible assets are approximately $41,000 net of accumulated amortization of approximately $1,711,000 and approximately $49,000 net of accumulated amortization of approximately $1,703,000 at March 31, 2015 and December 31, 2014, respectively.

Financing fees of approximately $1,681,000 and $1,736,000 are net of accumulated amortization of approximately $668,000 and $613,000 at March 31, 2015 and December 31, 2014, respectively.