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Other Assets, Net

6 Months Ended

Jun. 30, 2024

6.Other Assets, Net

The following is a summary of other assets, net:


	June 30, 2024		December 31, 2023

	(In thousands)
Prepaid expenses	$	10,188	$	13,215
Derivative financial instruments, at fair value		42,116		42,341
Deferred financing costs, net		8,740		10,199
Operating lease right-of-use assets		45,238		60,329
Investments in funds ⁽¹⁾		24,119		21,785
Other investments ⁽²⁾		3,487		3,487
Other		12,546		12,125
Total other assets, net	$	146,434	$	163,481

(1)

Consists of investments in real estate-focused technology companies, which are recorded at their fair value based on their reported net asset value. During the three and six months ended June 30, 2024, unrealized gains related to these investments were $797,000 and $1.3 million. During the three and six months ended June 30, 2023, unrealized gains (losses) related to these investments were ($338,000) and $1.7 million. During the three and six months ended June 30, 2024, realized losses related to these investments were $183,000 and $622,000. During the three and six months ended June 30, 2023, realized losses related to these investments were $189,000 and $318,000. Unrealized gains (losses) and realized losses were included in "Interest and other income, net" in our statements of operations.

(2)	Primarily consists of equity investments that are carried at cost.