OTHER ASSETS, NET

12 Months Ended

Dec. 31, 2025


7. OTHER ASSETS, NET

The following is a summary of Other Assets, Net outstanding as of December 31, 2025 and 2024 (in thousands):


	2025		2024
Other assets, net:
Deferred leasing commissions and costs	$	61,479	$	55,266
Deferred financing expenses(1)	16,308		9,037
Office equipment, including capital lease assets, and other	30,062		26,557
Corporate intangible assets	6,703		6,703
Total depreciable and amortizable assets	114,552		97,563
Accumulated depreciation and amortization	(59,326)		(53,330)
Net depreciable and amortizable assets	55,226		44,233
Accounts receivable, net(2)	52,032		46,099
Accounts receivable - affiliates	1,525		1,310
Secured loan receivable(3)	17,395		—
Deferred rent receivable, net(4)	80,669		71,954
Derivative assets	177		4,510
Prepaid expenses and other	14,029		13,071
Investment in third parties	6,876		6,731
Investment in marketable securities	16,355		7,420
Total other assets, net	$	244,284	$	195,328

(1)Deferred financing expenses per the above table are related to our revolving credit facility, and as such we have elected to classify them as an asset rather than as a contra-liability.

(2)Net of $2.6 million and $2.2 million of general reserves for uncollectible amounts as of December 31, 2025 and 2024, respectively. Receivables that were removed for tenants considered to be non-creditworthy were $6.5 million and $6.8 million as of December 31, 2025 and 2024, respectively.

(3)Secured loan receivable relates to the financing provided for the sale of one of our properties during the year ended December 31, 2025. See Note 4.

(4)Net of $4.3 million and $4.4 million of receivables removed as of December 31, 2025 and 2024, respectively, related to straight-line rent for tenants previously or currently considered to be non-creditworthy.

Phillips Edison & Company, Inc. 10-K