XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Revenue from tenants $ 329,355 $ 381,612 $ 374,914
Operating expenses:      
Property operating and maintenance 205,813 243,548 234,185
Impairment charges 40,951 36,446 55,969
Operating fees to related parties 24,206 23,922 23,414
Acquisition and transaction related 2,714 173 362
General and administrative 16,828 21,572 20,530
Depreciation and amortization 79,926 81,053 81,032
Total expenses 370,438 406,714 415,492
Operating loss before gain on sale of real estate investments (41,083) (25,102) (40,578)
Gain on sale of real estate investments 3,648 5,230 8,790
Operating loss (37,435) (19,872) (31,788)
Other income (expense):      
Interest expense (47,900) (51,519) (56,059)
Interest and other income 61 44 7
Gain (loss) on non-designated derivatives 37 (102) (68)
Total other expenses (47,802) (51,577) (56,120)
Loss before income taxes (85,237) (71,449) (87,908)
Income tax expense (203) (4,061) (399)
Net loss (85,440) (75,510) (88,307)
Net loss (income) attributable to non-controlling interests 260 (303) 393
Allocation for preferred stock (7,762) (2,968) (173)
Net loss attributable to common stockholders (92,942) (78,781) (88,087)
Other comprehensive income (loss):      
Unrealized gain (loss) on designated derivatives 25,332 (32,630) (11,625)
Comprehensive loss attributable to common stockholders $ (67,610) $ (111,411) $ (99,712)
Weighted-average common shares outstanding - Basic (in shares) [1] 100,534,438 100,312,245 100,093,694
Weighted-average common shares outstanding - Diluted (in shares) [1] 100,534,438 100,312,245 100,093,694
Net loss per common share attributable to common stockholders - Basic (in usd per share) [1] $ (0.92) $ (0.79) $ (0.88)
Net loss per common share attributable to common stockholders - Diluted (in usd per share) [1] $ (0.92) $ (0.79) $ (0.88)
[1] Retroactively adjusted for the effects of the Stock Dividends (see Note 1).