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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Rental income $ 55,952 $ 62,540 $ 115,179 $ 129,513
Expenses:        
Property operating expense 5,658 6,919 12,337 14,029
Property tax expense 4,513 5,545 9,023 11,367
Property management fees 359 430 769 952
General and administrative expenses 9,116 12,030 18,796 21,758
Corporate operating expenses to related parties 169 341 336 718
Depreciation and amortization 22,998 30,472 46,413 61,827
Real estate impairment provision 6,505 397,373 7,881 397,373
Total expenses 49,318 453,110 95,555 508,024
Income before other income (expenses) 6,634 (390,570) 19,624 (378,511)
Other income (expenses):        
Interest expense (15,845) (16,068) (31,994) (33,082)
Other income, net 5,167 2,747 9,213 3,959
Net loss from investment in unconsolidated entity 0 (17,508) 0 (32,169)
(Loss) gain from disposition of assets (57) (9,701) 9,120 20,909
Goodwill impairment provision 0 0 (4,594) 0
Transaction expenses 0 (21,303) 0 (24,490)
Net (loss) income (4,101) (452,403) 1,369 (443,384)
Distributions to redeemable preferred shareholders 0 0 0 (2,376)
Preferred units redemption 0 (4,970) 0 (4,970)
Net loss (income) attributable to noncontrolling interests 333 40,909 (112) 40,324
Net (loss) income attributable to controlling interests (3,768) (416,464) 1,257 (410,406)
Distributions to redeemable noncontrolling interests attributable to common shareholders 0 (13) 0 (36)
Net (loss) income attributable to common shareholders $ (3,768) $ (416,477) $ 1,257 $ (410,442)
Net income (loss) attributable to common shareholders per share, basic (in usd per share) $ (0.11) $ (11.59) $ 0.03 $ (11.43)
Net income (loss) attributable to common shareholders per share, diluted (in usd per share) $ (0.11) $ (11.59) $ 0.03 $ (11.43)
Weighted average number of common shares outstanding, basic (in shares) 36,349,950 35,922,706 36,329,485 35,960,804
Weighted average number of common shares outstanding, diluted (in shares) 36,349,950 35,922,706 36,329,485 35,960,804