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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Rental revenue $ 179,678,000 $ 165,506,000 $ 359,401,000 $ 347,219,000
Fee and other income 7,730,000 7,156,000 16,884,000 13,917,000
Total revenues 187,408,000 172,662,000 376,285,000 361,136,000
Expenses:        
Operating 74,192,000 71,078,000 145,932,000 141,387,000
Depreciation and amortization 61,735,000 62,627,000 122,849,000 121,515,000
General and administrative 16,632,000 16,224,000 33,266,000 30,847,000
Transaction related costs 423,000 63,000 601,000 191,000
Total expenses 152,982,000 149,992,000 302,648,000 293,940,000
Other income (expense):        
Loss from real estate related fund investments (27,000) (42,644,000) (70,000) (39,094,000)
(Loss) income from unconsolidated real estate related funds (15,000) 32,000 90,000 (146,000)
Loss from unconsolidated joint ventures (771,000) (28,402,000) (2,117,000) (34,164,000)
Interest and other income, net 3,893,000 2,967,000 23,313,000 5,892,000
Interest and debt expense (40,004,000) (36,879,000) (80,273,000) (73,338,000)
(Loss) income before income taxes (2,498,000) (82,256,000) 14,580,000 (73,654,000)
Income tax expense (362,000) (573,000) (709,000) (861,000)
Net (loss) income (2,860,000) (82,829,000) 13,871,000 (74,515,000)
Less net (income) loss attributable to noncontrolling interests in:        
Consolidated joint ventures (6,269,000) (5,351,000) (11,475,000) (10,992,000)
Consolidated real estate related funds 589,000 37,301,000 (173,000) 36,478,000
Operating Partnership 721,000 3,341,000 (177,000) 3,220,000
Net (loss) income attributable to common stockholders $ (7,819,000) $ (47,538,000) $ 2,046,000 $ (45,809,000)
(Loss) Income per Common Share - Basic:        
(Loss) income per common share $ (0.04) $ (0.22) $ 0.01 $ (0.21)
Weighted average common shares outstanding 217,204,870 217,003,931 217,155,278 216,784,737
(Loss) Income per Common Share - Diluted:        
(Loss) income per common share $ (0.04) $ (0.22) $ 0.01 $ (0.21)
Weighted average common shares outstanding 217,204,870 217,003,931 217,208,977 216,784,737