Other Assets, Net

12 Months Ended

Dec. 31, 2024

Other Assets, Net

Other Assets, Net

9.          Other Assets, Net

The following is a summary of other assets, net:

	December 31,
	2024		2023
	(In thousands)
Prepaid expenses	$	10,834	$	13,215
Derivative financial instruments, at fair value		25,682		42,341
Deferred financing costs, net		7,280		10,199
Operating lease right-of-use assets		44,034		60,329
Investments in funds (1)		27,665		21,785
Other investments (2)		3,237		3,487
Other		12,586		12,125
Total other assets, net	$	131,318	$	163,481

(1) Consists of investments in real estate-focused technology companies which are recorded at their fair value based on their reported net asset value. For each of the three years in the period ended December 31, 2024, unrealized gains were $4.8 million, $1.3 million and $2.1 million related to these investments. For each of the three years in the period ended December 31, 2024, realized losses related to these investments were $1.3 million, $758,000 and $1.2 million. Unrealized and realized gains (losses) were included in "Interest and other income, net" in our consolidated statements of operations.

(2) Primarily consists of equity investments that are carried at cost. For each of the three years in the period ended December 31, 2024, realized gains (losses) were ($250,000), $436,000 and $13.5 million related to these investments, which were included in "Interest and other income, net" in our consolidated statements of operations.