
	June 30, 2025		December 31, 2024
Acquired in-place leases	$255,170		$305,144
Deferred compensation plan	49,943		47,727
Deferred financing costs – unsecured senior line of credit	44,231		49,056
Deposits	29,772		21,768
Furniture, fixtures, equipment, and software	54,352		39,558
Net investment in leases	60,271		41,503
Notes receivable	216,762		120,546
Operating lease right-of-use assets	717,125	(1)	764,472
Other assets	101,423		96,690
Prepaid expenses	27,109		33,567
Property, plant, and equipment	131,933		141,275
Total	$1,688,091		$1,661,306

(1)Refer to “Leases in which we are the lessee" section within Note 5 – “Leases” for information about the decrease in this balance since December 31, 2024.

Our notes receivable as of June 30, 2025 and December 31, 2024 consisted of the following (dollars in thousands):


	As of June 30, 2025
	Weighted Average
Notes Receivable	Effective Interest Rate	Maturity Date	Balance	December 31, 2024
Secured by real estate assets in San Diego	10.1%	11/4/28	$199,505	$103,427
Secured by real estate assets in Greater Boston	4.6%	12/16/29	17,730	17,356
Less: provision for expected credit losses			(473)	(237)
Notes receivable			$216,762	$120,546

Our notes receivable represent held-to-maturity debt securities carried at amortized costs and are generally secured by real

estate. Under the current expected credit losses accounting standard, we are required to estimate and, if necessary, recognize a

provision for expected credit losses related to these notes. We do not have a history of losses on such securities; therefore, we utilize

available information on historical losses for the commercial real estate industry. We determine expected credit losses for our notes

receivable using historical industry losses and considering loan-specific information, including credit ratings of the borrowers, estimated

fair values of underlying real estate assets, loan-to-value ratios, the presence of guarantors, and/or other available information. During

the three months ended June 30, 2025, no adjustment to the provision for expected credit losses related to our notes receivable was