XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental income $ 23,871 $ 21,669 $ 67,808 $ 59,879
Other operating income 888 1,317 2,722 4,219
Interest income from real estate debt securities 0 0 0 369
Dividend income from real estate equity securities 2,986 2,296 5,339 4,414
Total revenues 27,745 25,282 75,869 68,881
Expenses:        
Operating, maintenance, and management costs 7,888 8,156 22,258 21,254
Real estate taxes and insurance 3,791 3,278 10,570 9,556
Asset management fees to affiliates 2,426 2,093 6,867 5,954
General and administrative expenses 1,960 2,038 6,302 5,586
Foreign currency transaction loss (gain), net 445 5,344 (12,338) 10,634
Depreciation and amortization 9,470 9,239 27,417 25,276
Interest expense 6,274 7,359 19,055 21,776
Total expenses 32,254 37,507 80,131 100,036
Other income (loss):        
Gain from remeasurement of prior equity interest 2,009 0 2,009 0
Income from NIP 0 0 52 0
Equity in income (loss) of unconsolidated entities 519 (419) 1,512 6,677
Casualty-related gain 0 0 51 (506)
Other interest income 19 536 297 1,862
(Loss) gain on real estate equity securities (6,527) 3,845 (21,620) 19,304
Change in subordinated performance fee due upon termination to affiliate 1,121 0 814 0
Gain on sale of real estate 0 10,559 0 18,128
Loss on extinguishment of debt 0 (6) 0 (861)
Total other (loss) income, net (2,859) 14,515 (16,885) 44,604
Net (loss) income (7,368) 2,290 (21,147) 13,449
Net loss (income) attributable to noncontrolling interests 43 (1,518) 115 (2,145)
Net loss attributable to redeemable noncontrolling interest 23 0 23 0
Preferred stock dividends (191) 0 (788) 0
Net (loss) income attributable to common stockholders $ (7,493) $ 772 $ (21,797) $ 11,304
Net (loss) income per common share, basic and diluted (in dollars per share) $ (0.11) $ 0.01 $ (0.32) $ 0.17
Weighted-average number of common shares outstanding, basic and diluted (in shares) 69,225,212 66,326,646 68,179,046 66,564,532