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Prepaid Expenses and Other Current Assets and Other Assets | 9 Months Ended
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Sep. 30, 2023
Prepaid Expenses and Other Current Assets and Other Assets [Abstract] |
Prepaid Expenses and Other Current Assets and Other Assets | 5.PREPAID EXPENSES AND OTHER CURRENT ASSETS AND OTHER ASSETS The Company’s prepaid expenses and other current assets are comprised of the following:
|  | As of |  | As of
|  | September 30, 2023 |  | December 31, 2022
|  |  | (in thousands)
Short-term investments |  | $ | 1,141 |  | $ | 1,331
Prepaid real estate taxes |  |  | 4,707 |  |  | 3,333
Interest receivable |  |  | 4,213 |  |  | 529
Prepaid taxes |  |  | 10,426 |  |  | 10,639
Prepaid ground rent |  |  | 4,213 |  |  | 3,867
Other current assets |  |  | 20,850 |  |  | 13,450
Total prepaid expenses and other current assets |  | $ | 45,550 |  | $ | 33,149
The Company’s other assets are comprised of the following:
|  | As of |  | As of
|  | September 30, 2023 |  | December 31, 2022
|  |  | (in thousands)
Straight-line rent receivable |  | $ | 410,611 |  | $ | 388,638
Interest rate swap asset (1) |  |  | 143,252 |  |  | 182,860
Loans receivable (2) |  |  | 135,845 |  |  | 39,922
Deferred lease costs, net |  |  | 8,262 |  |  | 7,747
Deferred tax asset - long term |  |  | 68,248 |  |  | 16,173
Long-term investments |  |  | 31,569 |  |  | 40,696
Other |  |  | 47,444 |  |  | 46,337
Total other assets |  | $ | 845,231 |  | $ | 722,373
(1)Refer to Note 17 for more information on the Company’s interest rate swaps. (2)On March 17, 2023 (and as amended on August 25, 2023), the Company entered into a loan with one of its unconsolidated joint ventures (“the Investee”). As part of the loan agreement, the Investee may borrow up to $120.0 million in aggregate principal amount, consisting of a $73.0 million initial term loan and $47.0 million of delayed draw term loans. The final maturity date of the loans is January 31, 2027. The loans accrue interest at a variable rate, adjusting monthly, plus the applicable margin. Interest on the loans is received monthly. The funding of the loans is recorded in Other investing activities on the Consolidated Statements of Cash Flows. As of September 30, 2023, the outstanding principal balance of the loan was $93.0 million and was accruing interest at 10.067%.

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