XML 82 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Rental income $ 81,363,000 $ 82,746,000 $ 129,265,000
Other operating income 5,327,000 5,021,000 7,136,000
Interest income from real estate debt securities 369,000 2,018,000 1,782,000
Dividend income from real estate equity securities 6,099,000 6,002,000 2,531,000
Total revenues 93,158,000 95,787,000 140,714,000
Expenses:      
Operating, maintenance, and management 29,294,000 29,110,000 42,611,000
Real estate taxes and insurance 12,631,000 11,762,000 17,404,000
Asset management fees to affiliate 8,158,000 8,525,000 10,686,000
General and administrative expenses 7,456,000 7,784,000 5,983,000
Foreign currency transaction loss (gain), net 12,498,000 (10,141,000) 15,298,000
Depreciation and amortization 34,004,000 35,006,000 53,446,000
Interest expense 28,849,000 31,054,000 37,149,000
Other-than-temporary impairment of debt securities 0 2,500,000 0
Total expenses 132,890,000 115,600,000 182,577,000
Other income (loss):      
Income from NIP 0 428,000 2,073,000
Equity in income (loss) of unconsolidated entities 6,621,000 (9,830,000) (6,037,000)
Casualty-related loss (506,000) 0 0
Other interest income 2,120,000 1,884,000 1,105,000
Gain (loss) on real estate equity securities 20,379,000 (19,010,000) 0
Gain on sale of real estate 34,077,000 80,594,000 255,935,000
Loss on extinguishment of debt (1,106,000) (493,000) (478,000)
Transaction and related costs (4,462,000) 0 0
Subordinated performance fee due upon termination to affiliate (32,640,000) 0 0
Total other income, net 24,483,000 53,573,000 252,598,000
Net (loss) income before income taxes (15,249,000) 33,760,000 210,735,000
Income tax benefit (provision) 68,000 (436,000) (155,000)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total (15,181,000) 33,324,000 210,580,000
Net (income) loss attributable to noncontrolling interests (2,101,000) 222,000 64,000
Net (loss) income attributable to common stockholders $ (17,282,000) $ 33,546,000 $ 210,644,000
Net (loss) income per common share, basic and diluted (in dollars per share) $ (0.26) $ 0.57 $ 3.77
Weighted-average number of common shares outstanding, basic and diluted (in shares) 66,443,585 58,738,732 55,829,708