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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE        
Property rental $ 119,811 $ 125,900 $ 368,445 $ 370,960
Third-party real estate services, including reimbursements 21,845 25,842 67,972 90,694
Other revenue 5,958 5,280 18,667 15,301
Total revenue 147,614 157,022 455,084 476,955
EXPENSES        
Depreciation and amortization 50,056 56,726 157,597 178,130
Property operating 36,380 40,198 112,469 109,929
Real estate taxes 14,738 18,259 47,870 55,127
General and administrative:        
Corporate and other 12,072 12,105 42,669 38,475
Third-party real estate services 21,230 25,542 72,422 80,035
Share-based compensation related to Formation Transaction and special equity awards 548 3,480 4,369 12,866
Transaction and other costs 1,746 2,951 4,632 8,911
Total expenses 136,770 159,261 442,028 483,473
OTHER INCOME (EXPENSE)        
Income (loss) from unconsolidated real estate ventures, net (13,867) 20,503 (12,829) 23,513
Interest and other income, net 984 192 16,902 163
Interest expense (17,932) (17,243) (50,251) (50,312)
Gain on the sale of real estate, net     158,631 11,290
Loss on the extinguishment of debt (1,444)   (3,073)  
Total other income (expense) (32,259) 3,452 109,380 (15,346)
INCOME (LOSS) BEFORE INCOME TAX EXPENSE (21,415) 1,213 122,436 (21,864)
Income tax expense (166) (217) (2,600) (4,527)
NET INCOME (LOSS) (21,581) 996 119,836 (26,391)
Net (income) loss attributable to redeemable noncontrolling interests 2,546 (103) (15,712) 2,472
Net (income) loss attributable to noncontrolling interests (258)   (174) 1,108
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (19,293) $ 893 $ 103,950 $ (22,811)
EARNINGS (LOSS) PER COMMON SHARE:        
EARNINGS (LOSS) PER COMMON SHARE - BASIC $ (0.17) $ 0.00 $ 0.86 $ (0.18)
EARNINGS (LOSS) PER COMMON SHARE - DILUTED $ (0.17) $ 0.00 $ 0.86 $ (0.18)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC 114,360 131,351 120,741 131,456
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED 114,360 131,351 120,741 131,456