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CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income from rental operations        
Income from rental operations $ 30,173 $ 29,055 $ 90,275 $ 86,802
Expenses from rental operations        
Operating expenses, excluding real estate taxes 12,344 11,311 36,355 34,022
Real estate taxes 3,036 2,889 9,084 8,633
Depreciation and amortization 5,322 5,274 16,213 15,907
Interest 4,521 4,557 13,819 13,632
Total expenses from rental operations 25,223 24,031 75,471 72,194
Administration of REIT        
Administration of REIT 969 1,460 3,051 3,703
Total expenses 26,192 25,491 78,522 75,897
Income from operations 3,981 3,564 11,753 10,905
Other income        
Equity in income of unconsolidated affiliates 235 161 629 445
Other income 70 45 186 206
Gain on sale of real estate and non-real estate investments   3,214   4,298
(Loss)/gain on involuntary conversion (816) 100 (487) 1,467
Total other income (expense) (511) 3,520 328 6,416
Net income 3,470 7,084 12,081 17,321
Net income attributable to noncontrolling interest in operating partnership 2,312 4,739 8,034 11,651
Net income attributable to noncontrolling interest in partially owned properties (55) (34) (101) (127)
Net income attributable to Sterling Real Estate Trust $ 1,213 $ 2,379 $ 4,148 $ 5,797
Net income per common share, basic and diluted $ 0.13 $ 0.27 $ 0.45 $ 0.66
Comprehensive income:        
Net income $ 3,470 $ 7,084 $ 12,081 $ 17,321
Other comprehensive gain - change in fair value of interest rate swaps 6 8 14 32
Comprehensive income 3,476 7,092 12,095 17,353
Comprehensive income attributable to noncontrolling interest 2,261 4,710 7,942 11,546
Comprehensive income attributable to Sterling Real Estate Trust 1,215 2,382 4,153 5,807
Real Estate Rental Income        
Income from rental operations        
Income from rental operations $ 30,173 27,591 $ 90,275 82,205
Tenant Reimbursements        
Income from rental operations        
Income from rental operations   $ 1,464   $ 4,597