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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Rental income $ 120,495 $ 128,068 $ 121,859
Total revenues 133,525 145,416 162,058
Expenses:      
Operating, maintenance, and management 45,967 45,699 44,317
Real estate taxes and insurance 23,410 28,300 21,132
Hotel expenses 6,874 6,944 19,252
Asset management fees to affiliates 15,551 15,415 13,678
General and administrative expenses 11,665 10,476 10,700
Foreign currency transaction loss (gain), net 3,156 18,712 (29,038)
Depreciation and amortization 41,069 47,868 51,930
Interest expense, net 71,892 68,216 48,130
Impairment charges on real estate and related intangibles 76,090 64,849 18,493
Impairment charges on goodwill 0 4,488 8,098
Total expenses 295,674 310,967 206,692
Other income (loss):      
Loss from unconsolidated entities, net (35,397) (54,758) (8,019)
Other income 1,765 2,907 228
Loss on real estate equity securities, net (12,076) (4,598) (51,943)
Gain on sale of real estate, net 119,018 82,099 46,513
(Loss) gain on extinguishment of debt (6,033) 0 2,367
Gain from consolidation of previously unconsolidated entity 0 0 18,742
Total other income, net 67,277 25,650 7,888
Net loss before income taxes (94,872) (139,901) (36,746)
Income tax provision (10,000) (6,576) (4,924)
Net loss (104,872) (146,477) (41,670)
Net loss (income) attributable to noncontrolling interests 4,035 2,326 (530)
Net loss attributable to redeemable noncontrolling interest 0 0 81
Preferred stock dividends 0 0 (1,123)
Net loss attributable to common stockholders $ (100,837) $ (144,151) $ (43,242)
Net loss per common share, basic (in dollars per share) $ (0.98) $ (1.39) $ (0.44)
Net loss per common share, diluted (in dollars per share) $ (0.98) $ (1.39) $ (0.44)
Weighted-average number of common shares outstanding, basic (in shares) 103,083,547 103,642,866 103,522,696
Weighted-average number of common shares outstanding, diluted (in shares) 103,083,547 103,642,866 103,522,696
Hotel revenues      
Revenues:      
Revenue $ 9,061 $ 9,153 $ 30,749
Other operating income      
Revenues:      
Revenue $ 3,969 $ 8,195 $ 9,450