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Other Assets, Net

3 Months Ended

Mar. 31, 2024

6.Other Assets, Net

The following is a summary of other assets, net:


	March 31, 2024		December 31, 2023

	(In thousands)
Prepaid expenses	$	12,863	$	13,215
Derivative financial instruments, at fair value		47,116		42,341
Deferred financing costs, net		9,469		10,199
Operating lease right-of-use assets ⁽¹⁾		59,529		60,329
Investments in funds ⁽²⁾		22,874		21,785
Other investments ⁽³⁾		3,487		3,487
Other		12,683		12,125
Total other assets, net	$	168,021	$	163,481

(1)	Includes our corporate office lease at 4747 Bethesda Avenue.

(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 months ended March 31, 2024 and 2023, unrealized gains related to these investments were $497,000 and $2.0 million. During the three months ended March 31, 2024 and 2023, realized losses related to these investments

were $439,000 and $129,000. Unrealized gains 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.