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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenue from tenants $ 121,013 $ 138,666 $ 378,333 $ 432,010
Expenses:        
Property operating 12,669 15,164 38,640 48,894
Impairment charges 55,433 38,483 125,560 70,212
Merger, transaction and other costs 1,623 1,901 5,204 4,230
General and administrative 11,834 10,937 39,376 39,346
Equity-based compensation 3,059 2,309 9,490 6,622
Depreciation and amortization 44,780 52,746 146,750 166,572
Goodwill impairment 0 0 7,134 0
Total expenses 129,398 121,540 372,154 335,876
Operating (loss) income before (loss) gain on dispositions of real estate investments (8,385) 17,126 6,179 96,134
(Loss) gain on dispositions of real estate investments (5,797) (4,280) (5,938) 35,702
Operating income (14,182) 12,846 241 131,836
Other income (expense):        
Interest expense (45,307) (59,504) (152,092) (196,081)
Loss on extinguishment and modification of debt (4,121) (317) (8,887) (13,464)
Gain (Loss) on derivative instruments 2,271 (4,747) (10,408) (2,650)
Unrealized gains (losses) on undesignated foreign currency advances and other hedge ineffectiveness 31 0 (12,644) 1,332
Other income 1,820 76 3,551 381
Total other expense, net (45,306) (64,492) (180,480) (210,482)
Net loss before income tax (59,488) (51,646) (180,239) (78,646)
Income tax expense (3,092) (1,312) (9,367) (3,420)
Loss from continuing operations (62,580) (52,958) (189,606) (82,066)
Income (loss) from discontinued operations 2,464 (12,677) (84,032) (42,984)
Net loss (60,116) (65,635) (273,638) (125,050)
Preferred stock dividends (10,935) (10,936) (32,807) (32,808)
Net loss attributable to common stockholders $ (71,051) $ (76,571) $ (306,445) $ (157,858)
Basic and Diluted Loss Per Share:        
Net loss per share from continuing operations, basic (in dollars per share) $ (0.33) $ (0.28) $ (1.00) $ (0.50)
Net loss per share from continuing operations, diluted (in dollars per share) (0.33) (0.28) (1.00) (0.50)
Net income (loss) per share from discontinued operations, basic (in dollars per share) 0.01 (0.05) (0.37) (0.19)
Net income (loss) per share from discontinued operations, diluted (in dollars per share) 0.01 (0.05) (0.37) (0.19)
Net loss per share attributable to common stockholders — Basic (in dollars per share) (0.32) (0.33) (1.37) (0.69)
Net loss per share attributable to common stockholders — Diluted (in dollars per share) $ (0.32) $ (0.33) $ (1.37) $ (0.69)
Weighted average common shares outstanding:        
Weighted average shares outstanding — Basic (in shares) 220,890,626 230,463,241 224,670,455 230,388,121
Weighted average shares outstanding — Diluted (in shares) 220,890,626 230,463,241 224,670,455 230,388,121