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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE        
Property rental $ 117,036 $ 122,819 $ 248,634 $ 245,060
Third-party real estate services, including reimbursements 22,157 26,745 46,127 64,852
Other revenue 6,312 5,080 12,709 10,021
Total revenue 145,505 154,644 307,470 319,933
EXPENSES        
Depreciation and amortization 49,479 56,678 107,541 121,404
Property operating 35,445 35,000 76,089 69,731
Real estate taxes 14,946 18,558 33,132 36,868
General and administrative:        
Corporate and other 14,782 13,895 30,597 26,370
Third-party real estate services 24,143 25,557 51,192 54,493
Share-based compensation related to Formation Transaction and special equity awards 1,577 4,441 3,821 9,386
Transaction and other costs 1,987 2,270 2,886 5,960
Total expenses 142,359 156,399 305,258 324,212
OTHER INCOME (EXPENSE)        
Income (loss) from unconsolidated real estate ventures, net (2,107) 3,953 1,038 3,010
Interest and other income (loss), net 1,672 (38) 15,918 (29)
Interest expense (16,041) (16,773) (32,319) (33,069)
Gain on the sale of real estate, net 158,767 11,290 158,631 11,290
Loss on the extinguishment of debt (1,038)   (1,629)  
Total other income (expense) 141,253 (1,568) 141,639 (18,798)
INCOME (LOSS) BEFORE INCOME TAX (EXPENSE) BENEFIT 144,399 (3,323) 143,851 (23,077)
Income tax (expense) benefit (2,905) 5 (2,434) (4,310)
NET INCOME (LOSS) 141,494 (3,318) 141,417 (27,387)
Net (income) loss attributable to redeemable noncontrolling interests (18,248) 345 (18,258) 2,575
Net loss attributable to noncontrolling interests 29   84 1,108
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 123,275 $ (2,973) $ 123,243 $ (23,704)
EARNINGS (LOSS) PER COMMON SHARE:        
EARNINGS (LOSS) PER COMMON SHARE - BASIC $ 1.02 $ (0.03) $ 0.99 $ (0.19)
EARNINGS (LOSS) PER COMMON SHARE - DILUTED $ 1.02 $ (0.03) $ 0.99 $ (0.19)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC 121,316 131,480 123,984 131,510
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED 121,316 131,480 123,984 131,510