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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE        
Property rental $ 120,592 $ 117,036 $ 244,625 $ 248,634
Third-party real estate services, including reimbursements 22,862 22,157 45,646 46,127
Other revenue 8,641 6,312 14,786 12,709
Total revenue 152,095 145,505 305,057 307,470
EXPENSES        
Depreciation and amortization 49,218 49,479 102,649 107,541
Property operating 35,912 35,445 71,524 76,089
Real estate taxes 14,424 14,946 29,648 33,132
General and administrative:        
Corporate and other 15,093 14,782 31,216 30,597
Third-party real estate services 22,105 24,143 45,928 51,192
Share-based compensation related to Formation Transaction and special equity awards   1,577 351 3,821
Transaction and other costs 3,492 1,987 5,964 2,886
Total expenses 140,244 142,359 287,280 305,258
OTHER INCOME (EXPENSE)        
Income (loss) from unconsolidated real estate ventures, net 510 (2,107) 943 1,038
Interest and other income, net 2,281 1,672 6,358 15,918
Interest expense (25,835) (16,041) (52,677) (32,319)
Gain on the sale of real estate, net   158,767 40,700 158,631
Loss on the extinguishment of debt (450) (1,038) (450) (1,629)
Total other income (expense) (23,494) 141,253 (5,126) 141,639
INCOME (LOSS) BEFORE INCOME TAX EXPENSE (11,643) 144,399 12,651 143,851
Income tax expense (611) (2,905) (595) (2,434)
NET INCOME (LOSS) (12,254) 141,494 12,056 141,417
Net (income) loss attributable to redeemable noncontrolling interests 1,398 (18,248) (1,965) (18,258)
Net loss attributable to noncontrolling interests 311 29 535 84
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (10,545) $ 123,275 $ 10,626 $ 123,243
EARNINGS (LOSS) PER COMMON SHARE:        
EARNINGS (LOSS) PER COMMON SHARE - BASIC $ (0.10) $ 1.02 $ 0.09 $ 0.99
EARNINGS (LOSS) PER COMMON SHARE - DILUTED $ (0.10) $ 1.02 $ 0.09 $ 0.99
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC 109,695 121,316 111,862 123,984
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED 109,695 121,316 111,862 123,984