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CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income from rental operations      
Income from rental operations $ 120,339 $ 116,051 $ 114,280
Expenses from rental operations      
Operating expenses, excluding real estate taxes 48,858 44,781 43,672
Real estate taxes 12,078 11,624 11,052
Depreciation and amortization 21,495 21,350 21,544
Interest 18,282 18,329 18,630
(Gain)/loss on lease terminations   (22) 146
Total expenses from rental operations 100,713 96,062 95,044
Administration of REIT      
Administration of REIT 4,112 4,100 5,144
Total expenses 104,825 100,162 100,188
Income from operations 15,514 15,889 14,092
Other income      
Equity in income of unconsolidated affiliates 759 634 1,016
Other income 301 273 85
Gain on sale of real estate and non-real estate investments   3,715 2,049
Gain on change in control of real estate investments     2,186
Gain on sale of investment in equity method investee     3
(Loss)/gain on involuntary conversion (515) 1,467 452
Total other income 545 6,089 5,791
Net income 16,059 21,978 19,883
Net income attributable to noncontrolling interest in operating partnership 10,647 14,768 13,634
Net income attributable to noncontrolling interest in partially owned properties (122) (164) (265)
Net income attributable to Sterling Real Estate Trust $ 5,534 $ 7,374 $ 6,514
Net income per common share, basic and diluted $ 0.60 $ 0.84 $ 0.78
Comprehensive income:      
Net income $ 16,059 $ 21,978 $ 19,883
Other comprehensive gain - change in fair value of interest rate swaps 67 35 80
Comprehensive income 16,126 22,013 19,963
Comprehensive income attributable to noncontrolling interest 10,569 14,628 13,423
Comprehensive income attributable to Sterling Real Estate Trust 5,557 7,385 6,540
Real Estate Rental Income      
Income from rental operations      
Income from rental operations $ 120,339 109,933 108,118
Tenant Reimbursements      
Income from rental operations      
Income from rental operations   $ 6,118 $ 6,162