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Other assets (Tables)

12 Months Ended

Dec. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of 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 date 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 statements 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.

Schedule of Accounts, Notes, Loans and Financing 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

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- References

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets.

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