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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE    
Property rental $ 122,636 $ 124,033
Third-party real estate services, including reimbursements 17,868 22,784
Other revenue 4,680 6,145
Total revenue 145,184 152,962
EXPENSES    
Depreciation and amortization 56,855 53,431
Property operating 35,279 35,612
Real estate taxes 13,795 15,224
General and administrative:    
Corporate and other 14,973 16,123
Third-party real estate services 22,327 23,823
Share-based compensation related to Formation Transaction and special equity awards   351
Transaction and other costs 1,514 2,472
Total expenses 144,743 147,036
OTHER INCOME (EXPENSE)    
Income from unconsolidated real estate ventures, net 975 433
Interest and other income, net 2,100 4,077
Interest expense (30,160) (26,842)
Gain on the sale of real estate, net 197 40,700
Impairment loss (17,211)  
Total other income (expense) (44,099) 18,368
INCOME (LOSS) BEFORE INCOME TAX BENEFIT (43,658) 24,294
Income tax benefit 1,468 16
NET INCOME (LOSS) (42,190) 24,310
Net (income) loss attributable to redeemable noncontrolling interests 4,534 (3,363)
Net loss attributable to noncontrolling interests 5,380 224
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (32,276) $ 21,171
EARNINGS (LOSS) PER COMMON SHARE:    
EARNINGS (LOSS) PER COMMON SHARE - BASIC $ (0.36) $ 0.19
EARNINGS (LOSS) PER COMMON SHARE - DILUTED $ (0.36) $ 0.19
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC 92,635 114,052
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED 92,635 114,052