Other Assets, Net (Tables)

9 Months Ended

Sep. 30, 2023

Other Assets, Net.

Summary of other assets, net

	September 30, 2023		December 31, 2022
	(In thousands)
Prepaid expenses	$	27,427	$	16,440
Derivative financial instruments, at fair value		79,421		61,622
Deferred financing costs, net		12,732		5,516
Deposits		584		483
Operating lease right-of-use assets (1)		61,122		1,383
Investments in funds (2)		20,366		16,748
Other investments (3)		3,446		3,524
Other		12,805		11,312
Total other assets, net	$	217,903	$	117,028

(1) Includes our corporate office lease at 4747 Bethesda Avenue as of September 30, 2023.

(2) Consists of investments in real estate-focused technology companies, which are recorded at their fair value based on their reported net asset value. During the three and nine months ended September 30, 2023, unrealized gains (losses) related to these investments were ($492,000) and $1.2 million. During the three and nine months ended September 30, 2022, unrealized gains (losses) related to these investments were ($267,000) and $928,000. During the three and nine months ended September 30, 2023, realized losses related to these investments were $165,000 and $483,000. Unrealized gains (losses) and realized losses were included in "Interest and other income, net" in our statements of operations.

(3) Primarily consists of equity investments that are carried at cost. During the three and nine months ended September 30, 2023, realized gains related to these investments were $436,000. During the three and nine months ended September 30, 2022, realized gains (losses) related to these investments were ($300,000) and $13.8 million. Realized gains (losses) were included in "Interest and other income, net" in our statements of operations.