XML 34 R22.htm IDEA: XBRL DOCUMENT
v3.22.2

Prepaid Expenses and Other Assets, net | 6 Months Ended
--- | ---
Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Prepaid Expenses and Other Assets, net | Prepaid Expenses and Other Assets, net The following table summarizes the Company’s prepaid expenses and other assets, net as of:
| June 30, 2022 |  | December 31, 2021
Deposits and pre-development costs for future acquisitions | $ | — |  |  | $ | 47,605 |
Prepaid insurance | 16,830 |  |  | 5,442 |
Non-real estate investments | 44,302 |  |  | 31,447 |
Stock purchase warrant | 286 |  |  | 1,664 |
Deferred financing costs | 6,805 |  |  | 7,750 |
Prepaid property tax | — |  |  | 2,192 |
Interest rate derivative assets | 4,411 |  |  | 368 |
Inventory | 1,981 |  |  | 1,578 |
Other | 24,536 |  |  | 20,954 |
PREPAID EXPENSES AND OTHER ASSETS, NET | $ | 99,151 |  |  | $ | 119,000 |
Non-Real Estate Investments The Company measures its investments in common stock and convertible preferred stock at fair value based on Level 1 and Level 2 inputs, respectively. The Company measures its investments in funds that do not have a readily determinable fair value using the Net Asset Value (“NAV”) practical expedient and uses NAV reported without adjustment unless it is aware of information indicating the NAV reported does not accurately reflect the fair value of the investment. Changes in the fair value of these non-real estate investments are included in unrealized (loss) gain on non-real estate investments on the Consolidated Statements of Operations. The Company recognized an unrealized loss of $1.4 million and an unrealized gain of $1.2 million on its non-real estate investments due to the observable changes in fair value during the three and six months ended June 30, 2022, respectively. The Company recognized an unrealized gain of $5.1 million and $9.0 million on its non-real estate investments due to the observable changes in fair value during the three and six months ended June 30, 2021, respectively. Stock Purchase Warrant The Company holds an investment in a stock purchase warrant that gives the Company the right to purchase a fixed number of shares of common stock of a non-real estate investee. The warrant meets the definition of a derivative and is measured at fair value based on Level 2 inputs. Changes in the fair value of the derivative asset are included in unrealized (loss) gain on non-real estate investments on the Consolidated Statements of Operations. The Company recognized an unrealized loss of $0.4 million and $1.4 million due to the change in the fair value of the stock purchase warrant during the three and six months ended June 30, 2022, respectively. The Company recognized an unrealized loss of $0.1 million and an unrealized gain of $1.8 million due to the change in the fair value of the stock purchase warrant during the three and six months ended June 30, 2021, respectively.

X
- References No definition available. + Details
Name: | us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_OtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration