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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental income $ 21,411 $ 21,312 $ 64,171 $ 64,391
Expenses:        
Rental operating - expenses 3,769 3,800 11,398 10,169
Rental operating - payroll 1,969 1,915 5,515 5,831
Rental operating - real estate taxes 2,887 2,925 8,738 8,804
Subtotal - Rental operating expenses 8,625 8,640 25,651 24,804
Management fees 3,255 3,324 9,624 9,964
Transaction costs 2,759   2,759  
General and administrative 2,058 1,897 6,169 5,759
Loss on disposal of assets 54 30 146 149
Depreciation and amortization expense 10,040 9,912 30,150 29,580
Total expenses 26,791 23,803 74,499 70,256
Loss before net gain on disposition (5,380) (2,491) (10,328) (5,865)
Net gain on disposition of property 0 0 0 20,619
Income (loss) before other income (expense) (5,380) (2,491) (10,328) 14,754
Other income (expense):        
Interest income 1 60 14 188
Interest expense (3,990) (6,257) (13,844) (20,042)
Net loss (9,369) (8,688) (24,158) (5,100)
Other comprehensive income (loss):        
Designated derivatives, fair value adjustment (111) 48 (36) 130
Comprehensive loss $ (9,480) $ (8,640) $ (24,194) $ (4,970)
Weighted average common shares outstanding 60,207 60,237 60,243 61,015
Basic and diluted net loss per common share $ (0.16) $ (0.14) $ (0.40) $ (0.08)