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Prepaid Expenses and Other Assets, net
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses and Other Assets, net Prepaid Expenses and Other Assets, net
The following table represents the Company’s prepaid expenses and other assets, net as of:
December 31, 2024December 31, 2023
Non-real estate investments$50,373 $48,581 
Deferred tax assets8 2,412 
Interest rate derivative assets4,325 6,441 
Prepaid insurance10,074 10,611 
Deferred financing costs, net2,165 4,316 
Prepaid property tax2,129 2,075 
Other21,040 19,709 
PREPAID EXPENSES AND OTHER ASSETS, NET
$90,114 $94,145 

Non-Real Estate Investments

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 on non-real estate investments on the Consolidated Statements of Operations. The Company recognized a net unrealized loss of $4.0 million, a net unrealized loss of $3.0 million and a net unrealized gain of $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively, due to the observable changes in fair value. Over the life of the investments, the Company has recognized a net unrealized gain of $6.8 million due to the observable changes in fair value.

Stock Purchase Warrants
The Company holds investments in stock purchase warrants that give the Company rights to purchase a fixed number of shares of common stock of a non-real estate investee. The warrants meet the definition of a derivative and are measured at fair value based on Level 2 inputs. Changes in the fair value of the derivative assets are included in unrealized loss on non-real estate investments on the Consolidated Statements of Operations. The Company recognized no unrealized gain or loss, an unrealized loss of $0.1 million and an unrealized gain of $1.6 million for the years ended December 31, 2024, 2023 and 2022, respectively, due to the observable changes in fair value. As of December 31, 2024 and 2023, the fair value of the warrants was zero