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Other assets (Notes) | 12 Months Ended
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Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | The following table summarizes the components of other assets as of December 31, 2024 and 2023 (in thousands):
| December 31,
| 2024 |  | 2023
Acquired in-place leases | $305,144 |  | $461,613
Deferred compensation plan | 47,727 |  | 40,365
Deferred financing costs – unsecured senior line of credit | 49,056 | (1) | 30,897
Deposits | 21,768 |  | 25,863
Furniture, fixtures, equipment, and software | 39,558 |  | 26,560
Net investment in direct financing lease | 41,503 |  | 40,097
Notes receivable | 120,546 | (2) | 15,841
Operating lease right-of-use assets | 764,472 | (3) | 516,452
Other assets | 96,690 |  | 88,453
Prepaid expenses | 33,567 |  | 30,969
Property, plant, and equipment | 141,275 |  | 144,784
Total | $1,661,306 |  | $1,421,894
(1)Increase is primarily due to the amendment and restatement of our unsecured senior line of credit to extend the maturity da te from January 22, 2028 to January 22, 2030, which was completed in September 2024. Refer to Note 10 – “Secured and unsecured senior debt” to our consolidated financial sta tements for additional information. (2)Increase is attributable to the seller financing provided in December 2024 to the buyers of our real estate assets. Refer to "Notes receivable” below for additional information. (3)Includes the operating lease right-of-use asset related to an amendment executed in July 2024 to our existing ground lease agreement at the Alexandria Technology Square® Megacampus. Refer to “Leases in which we are the lessee” in Note 5 – “Leases” to our consolidated financial statements for additional information. Notes receivable Our notes receivable as of December 31, 2024 consisted of the following (dollars in thousands):
Notes Receivable |  | Effective Interest Rate |  | Maturity Date |  | Balance
Secured by real estate assets in San Diego |  | 8.6% |  | 7/5/29 |  | $103,427
Other |  |  |  |  |  | 17,356
Less: provision for expected credit losses |  |  |  |  |  | (237)
Notes receivable |  |  |  |  |  | $120,546
Our notes receivable represent held-to-maturity debt securities carried at amortized costs and are generally secured by real estate. Under the current expected credit losses accounting standard, we are required to estimate and, if necessary, recognize expected credit losses related to these notes. We do not have a history of losses on such securities; therefore, we utilize available information on historical losses for the commercial real estate industry. We determine expected credit losses for our notes receivable using historical industry losses and considering loan-specific information, including credit ratings of the borrowers, estimated fair values of underlying real estate assets, loan-to-value ratios, the presence of guarantors, and/or other available information. During the three months ended December 31, 2024, we recognized a provision for expected credit losses of $237 thousand related to our notes receivabl e, reducing the notes receivable balance in our consolidated balance sheet and other income in our consolidated statement of operations accordingly. This provision will be reevaluated periodically, with any necessary adjustments recognized in the corresponding period.

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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