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Prepaid Expenses and Other Current Assets and Other Assets

6 Months Ended

Jun. 30, 2025

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
	June 30, 2025		December 31, 2024

		(in thousands)
Short-term investments	$	1,551	$	254,534
Short-term loans receivable ⁽¹⁾		—		115,281
Prepaid real estate taxes		2,520		3,564
Interest receivable		2,874		4,359
Prepaid insurance		4,207		1,704
Prepaid taxes		6,093		11,496
Prepaid ground rent		3,189		3,638
Other current assets		20,641		22,757
Total prepaid expenses and other current assets	$	41,075	$	417,333

The Company’s other assets are comprised of the following:



	As of		As of
	June 30, 2025		December 31, 2024

		(in thousands)
Straight-line rent receivable	$	421,860	$	417,572
Interest rate swap asset ⁽²⁾		10,333		50,589
Loans receivable		55,356		59,326
Deferred lease costs, net		9,388		8,836
Deferred tax asset - long term		47,395		53,974
Long-term investments		15,962		20,779
Other		81,353		46,021
Total other assets	$	641,647	$	657,097

(1)On March 17, 2023 (as amended through March 6, 2025), the Company entered into a loan with one of its unconsolidated joint ventures. The total outstanding principal balance of the loan was $115.0 million as of December 31, 2024. The total outstanding principal balance of the loan was repaid on March 21, 2025. The funding of the loan and the receipt of funds were recorded in Repayment (funding) of loan to unconsolidated joint venture on the Consolidated Statements of Cash Flows.

(2)Refer to Note 17 for more information on the Company’s interest rate swaps.