Annual report pursuant to Section 13 and 15(d)

OTHER ASSETS

v3.22.4
OTHER ASSETS
 12 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ASSETS OTHER ASSETS
Other assets consist of the following (dollars in thousands):

December 31,
2022 2021
Customer in-place leases, net of accumulated amortization of $5,004 and $14,336, respectively
$ 5,090  $ 29,427 
Receivables:
Trade, net 13,120  6,228 
PROs and other affiliates 4,175  2,878 
Receivable from unconsolidated real estate ventures 5,375  4,028 
Property acquisition deposits —  800 
Interest rate swaps 51,466  — 
Prepaid expenses and other 26,156  9,552 
Corporate furniture, equipment and other, net 1,534  1,422 
Trade name 7,442  6,380 
Management contracts, net of accumulated amortization of $5,398 and $4,237, respectively
 12,113  10,983 
Tenant reinsurance intangible assets, net of accumulated amortization of $2,466 and $1,504, respectively
 21,575  22,537 
Goodwill 8,182  8,182 
Total $ 156,228  $ 102,417 
Amortization expense related to customer in-place leases amounted to $34.4 million, $20.7 million and $9.0 million for the years ended December 31, 2022, 2021 and 2020, respectively.
The Company measured the fair value of the trade name, which has an indefinite life and is not amortized, using the relief from royalty method at acquisition.
The management contract assets are charged to amortization expense on a straight-line basis over 15 years, which represents the time period over which the majority of value was attributed in the Company’s discounted cash flow models. Amortization expense related to the management contracts amounted to $1.2 million, $1.0 million and $1.0 million for the years ended December 31, 2022, 2021 and 2020 respectively.
Amortization expense related to the tenant reinsurance intangible assets amounted to $1.0 million, $0.6 million and $0.6 million for the years ended December 31, 2022, 2021 and 2020 respectively. See Note 11 for additional details about the Company's tenant reinsurance intangible asset acquired during the year ended December 31, 2021.
Future Intangible Asset Amortization
As of December 31, 2022, the estimated aggregate amortization expense for the Company's customer in-place leases, management contracts and tenant reinsurance intangible assets for the succeeding five years are as follows (in thousands):
Year Ending December 31, Total Aggregate Estimated Amortization Expense
2023 $ 7,216 
2024 2,132 
2025 2,129 
2026 2,129 
2027 2,129 
Thereafter 23,043 
Total $ 38,778