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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Rental revenue $ 164,687,000 $ 184,235,000 $ 511,741,000 $ 543,636,000
Fee and other income 8,272,000 10,664,000 25,282,000 27,548,000
Total revenues 172,959,000 194,899,000 537,023,000 571,184,000
Expenses:        
Operating 79,392,000 80,316,000 232,326,000 226,248,000
Depreciation and amortization 57,766,000 60,071,000 176,707,000 182,920,000
General and administrative 16,340,000 16,672,000 58,112,000 49,938,000
Transaction related costs 9,981,000 242,000 10,840,000 843,000
Total expenses 163,479,000 157,301,000 477,985,000 459,949,000
Other income (expense):        
Loss from real estate related fund investments (18,000) (22,000) (67,000) (92,000)
Income (loss) from unconsolidated real estate related funds 71,000 109,000 (79,000) 199,000
Income (loss) from unconsolidated joint ventures 661,000 (981,000) 2,620,000 (3,098,000)
Interest and other income, net 3,112,000 3,517,000 10,953,000 26,830,000
Interest and debt expense (44,419,000) (43,805,000) (129,903,000) (124,078,000)
(Loss) income before income taxes (31,113,000) (3,584,000) (57,438,000) 10,996,000
Income tax benefit (expense) 831,000 (619,000) 1,430,000 (1,328,000)
Net (loss) income (30,282,000) (4,203,000) (56,008,000) 9,668,000
Less net (income) loss attributable to noncontrolling interests in:        
Consolidated joint ventures (279,000) (6,959,000) (5,095,000) (18,434,000)
Consolidated real estate related funds (688,000) 581,000 (2,556,000) 408,000
Operating Partnership 2,302,000 893,000 4,901,000 716,000
Net (loss) income attributable to common stockholders $ (28,947,000) $ (9,688,000) $ (58,758,000) $ (7,642,000)
Loss per Common Share - Basic:        
Loss per common share - basic $ (0.13) $ (0.04) $ (0.27) $ (0.04)
Weighted average common shares outstanding 220,512,867 217,314,706 219,254,194 217,208,809
Loss per Common Share - Diluted:        
Loss per common share - diluted $ (0.13) $ (0.04) $ (0.27) $ (0.04)
Weighted average common shares outstanding 220,512,867 217,314,706 219,254,194 217,208,809