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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Rental revenue $ 184,235,000 $ 182,515,000 $ 543,636,000 $ 529,734,000
Fee and other income 10,664,000 6,666,000 27,548,000 20,583,000
Total revenues 194,899,000 189,181,000 571,184,000 550,317,000
Expenses:        
Operating 80,316,000 75,502,000 226,248,000 216,889,000
Depreciation and amortization 60,071,000 60,263,000 182,920,000 181,778,000
General and administrative 16,672,000 15,460,000 49,938,000 46,307,000
Transaction related costs 242,000 132,000 843,000 323,000
Total expenses 157,301,000 151,357,000 459,949,000 445,297,000
Other income (expense):        
(Loss) income from real estate related fund investments (22,000) 2,060,000 (92,000) (37,034,000)
Income (loss) from unconsolidated real estate related funds 109,000 (721,000) 199,000 (867,000)
Loss from unconsolidated joint ventures (981,000) (28,974,000) (3,098,000) (63,138,000)
Interest and other income, net 3,517,000 4,115,000 26,830,000 10,007,000
Interest and debt expense (43,805,000) (39,102,000) (124,078,000) (112,440,000)
(Loss) income before income taxes (3,584,000) (24,798,000) 10,996,000 (98,452,000)
Income tax expense (619,000) (263,000) (1,328,000) (1,124,000)
Net (loss) income (4,203,000) (25,061,000) 9,668,000 (99,576,000)
Less net (income) loss attributable to noncontrolling interests in:        
Consolidated joint ventures (6,959,000) (4,887,000) (18,434,000) (15,879,000)
Consolidated real estate related funds 581,000 20,934,000 408,000 57,412,000
Operating Partnership 893,000 629,000 716,000 3,849,000
Net loss attributable to common stockholders $ (9,688,000) $ (8,385,000) $ (7,642,000) $ (54,194,000)
Loss per Common Share - Basic:        
Loss per common share $ (0.04) $ (0.04) $ (0.04) $ (0.25)
Weighted average common shares outstanding 217,314,706 217,043,022 217,208,809 216,871,778
Loss per Common Share - Diluted:        
Loss per common share $ (0.04) $ (0.04) $ (0.04) $ (0.25)
Weighted average common shares outstanding 217,314,706 217,043,022 217,208,809 216,871,778