XML 11 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Rental and other revenues $ 42,343 $ 42,342 $ 84,602 $ 86,836
Operating expenses:        
Property operating expenses 16,314 17,492 32,585 35,237
General and administrative 4,327 3,820 8,055 7,531
Depreciation and amortization 16,063 14,723 31,189 29,798
Impairment of real estate 102,229 0 102,229 0
Total operating expenses 138,933 36,035 174,058 72,566
Operating (loss)/income (96,590) 6,307 (89,456) 14,270
Interest expense:        
Contractual interest expense (8,339) (8,129) (16,618) (16,228)
Amortization of deferred financing costs and debt fair value (380) (343) (734) (661)
Interest expense, net (8,719) (8,472) (17,352) (16,889)
Net loss on disposition of real estate property 0 (1,462) 0 (1,462)
Net loss (105,309) (3,627) (106,808) (4,081)
Net income attributable to non-controlling interests in properties (57) (125) (228) (260)
Net loss attributable to the Company (105,366) (3,752) (107,036) (4,341)
Preferred stock distributions (1,855) (1,855) (3,710) (3,710)
Net loss attributable to common stockholders $ (107,221) $ (5,607) $ (110,746) $ (8,051)
Net loss per common share:        
Basic $ (2.66) $ (0.14) $ (2.75) $ (0.2)
Diluted $ (2.66) $ (0.14) $ (2.75) $ (0.2)
Weighted average common shares outstanding:        
Basic 40,358 40,154 40,332 40,126
Diluted 40,358 40,154 40,332 40,126
Dividend distributions declared per common share $ 0.1 $ 0.1 $ 0.2 $ 0.2