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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Revenue from tenants $ 116,929 $ 81,577 $ 211,872 $ 160,764
Operating expenses:        
Asset management fees to related party 8,296 7,922 16,122 15,243
Property operating expense 27,520 13,329 46,659 26,768
Impairment of real estate investments 58,954 91 64,896 91
Acquisition, transaction and other costs 206 136 485 178
Equity-based compensation 3,523 5,283 7,021 9,630
General and administrative 8,390 3,540 15,223 9,989
Depreciation and amortization 46,573 32,428 84,261 64,747
Total operating expenses 153,462 62,729 234,667 126,646
Operating (loss) income before gain on sale of real estate investments (36,533) 18,848 (22,795) 34,118
Gain on sale of real estate investments 13,438 11 67,007 297
Operating (loss) income (23,095) 18,859 44,212 34,415
Other (expense) income:        
Interest expense (28,329) (20,361) (52,069) (39,695)
Other income 944 20 962 44
Gain on non-designated derivatives 0 0 2,250 0
Total other expense, net (27,385) (20,341) (48,857) (39,651)
Net loss (50,480) (1,482) (4,645) (5,236)
Net loss (income) attributable to non-controlling interests 58 2 (6) 8
Allocation for preferred stock (5,837) (5,925) (11,674) (11,588)
Net loss attributable to common stockholders (56,259) [1] (7,405) [1] (16,325) (16,816)
Other comprehensive income (loss):        
Change in unrealized income on derivatives 0 (431) 0 2,053
Comprehensive income (loss) attributable to common stockholders [1] $ (56,259) $ (7,836) $ (16,325) $ (14,763)
Weighted-average shares outstanding - Basic (in shares) [2] 132,629,704 110,898,056 130,646,294 109,674,113
Weighted-average shares outstanding - Diluted (in shares) [2] 132,629,704 110,898,056 130,646,294 109,674,113
Net loss per share attributable to common stockholders — Basic ( in dollars per share) $ (0.43) $ (0.07) $ (0.13) $ (0.16)
Net loss per share attributable to common stockholders — Diluted ( in dollars per share) $ (0.43) $ (0.07) $ (0.13) $ (0.16)
[1] Holders of shares subject to repurchase are considered common stockholders.
[2] Includes 6,450,107 shares subject to repurchase issued to the Seller of the CIM Portfolio Acquisition for the three and six months ended June 30, 2022.