Other Assets, Net and Accounts Payable and Other Liabilities

9 Months Ended

Sep. 30, 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:

	September 30,			December 31,
(in thousands)	2023			2022
Other Assets, Net:
Lease intangibles, net (Note 6)	$	90,039		$	102,374
Derivative financial instruments (Note 8)		74,479			54,902
Deferred charges, net (a)		30,486			28,478
Accrued interest receivable (Note 3)		24,039			18,082
Prepaid expenses		17,187			15,872
Due from seller		2,794			3,036
Income taxes receivable		1,340			1,876
Deposits		583			1,624
Corporate assets, net		1,016			1,287
Other receivables		1,535			2,060
	$	243,498		$	229,591
(a) Deferred Charges, Net:
Deferred leasing and other costs (a)	$	70,932		$	63,920
Deferred financing costs related to line of credit		9,691			9,494
		80,623			73,414
Accumulated amortization		(50,137	)		(44,936	)
Deferred charges, net	$	30,486		$	28,478
Accounts Payable and Other Liabilities:
Lease intangibles, net (Note 6)	$	68,785		$	78,416
Accounts payable and accrued expenses		67,709			59,922
Deferred income		34,565			34,503
Tenant security deposits, escrow and other		17,689			16,582
Lease liability - finance leases, net (Note 11)		32,838			7,022
Derivative financial instruments (Note 8)		—			46
	$	221,586		$	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 September 30, 2023, deferred leasing and other costs include direct and incremental capitalized internal leasing commissions incurred in connection with executed lease agreements of $1.7 million, which are amortized on a straight-line basis over the terms of the related leases.