Quarterly report pursuant to Section 13 or 15(d)

Prepaid Expenses and Other Assets, Net

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Prepaid Expenses and Other Assets, Net
 6 Months Ended
Jun. 30, 2015
Prepaid Expense and Other Assets [Abstract]  
Prepaid Expenses and Other Assets, Net
Prepaid Expenses and Other Assets, Net
 
Prepaid expenses and other assets consisted of the following (in thousands):
 
 
June 30,
2015
 
December 31,
2014
Lease incentives, net
$
12,964

 
$
13,344

Construction contract costs incurred in excess of billings
12,051

 
6,656

Prepaid expenses
8,882

 
20,570

Furniture, fixtures and equipment, net
6,340

 
6,637

Deferred tax asset, net (1)
4,064

 
4,002

Operating notes receivable
3,937

 
3,797

Deposit on acquisitions
2,016

 
516

Equity method investments
1,616

 
2,368

Other assets
3,267

 
2,359

Prepaid expenses and other assets, net
$
55,137

 
$
60,249



(1) Includes a valuation allowance of $2.1 million.

Operating notes receivable reported above includes amounts due from tenants with remaining terms exceeding one year totaling $3.9 million as of June 30, 2015 and $3.6 million as of December 31, 2014; we carried allowances for estimated losses for $312,000 of the June 30, 2015 balance and $252,000 of the December 31, 2014 balance.