Other Assets, Net and Accounts Payable and Other Liabilities

3 Months Ended

Mar. 31, 2023

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

Other Assets, Net and Accounts Payable and Other Liabilities

5. Other Assets, Net and Accounts Payable and Other Liabilities

Other assets, net and accounts payable and other liabilities are comprised of the following for the periods presented:

	March 31,			December 31,
(in thousands)	2023			2022
Other Assets, Net:
Lease intangibles, net (Note 6)	$	94,600		$	102,374
Derivative financial instruments (Note 8)		35,867			54,902
Deferred charges, net (a)		29,568			28,478
Accrued interest receivable (Note 3)		19,922			18,082
Prepaid expenses		12,358			15,872
Due from seller		3,036			3,036
Income taxes receivable		1,906			1,876
Deposits		711			1,624
Corporate assets, net		1,200			1,287
Other receivables		1,262			2,060
	$	200,430		$	229,591
(a) Deferred Charges, Net:
Deferred leasing and other costs (a)	$	66,646		$	63,920
Deferred financing costs related to line of credit		9,494			9,494
		76,140			73,414
Accumulated amortization		(46,572	)		(44,936	)
Deferred charges, net	$	29,568		$	28,478
Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 6)	$	76,313		$	78,416
Accounts payable and accrued expenses		57,216			59,922
Deferred income		33,132			34,503
Tenant security deposits, escrow and other		16,877			16,582
Lease liability - finance leases, net (Note 11)		7,128			7,022
Derivative financial instruments (Note 8)		1,171			46
	$	191,837		$	196,491

a)Effective January 1, 2023, the Company implemented compensation plans for its internal leasing representatives to adopt a commission structure paid in connection with new, renewal, and modified leases. At March 31, 2023, deferred leasing and other costs include direct and incremental capitalized internal leasing commissions incurred in connection with executed lease agreements, which are amortized on a straight-line basis over the terms of the related leases.