XML 140 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated and Combined Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUE      
Property rentals $ 436,625 $ 401,595 $ 389,810
Tenant reimbursements 37,985 37,661 40,476
Third-party real estate services, including reimbursements 63,236 33,882 29,467
Other income 5,167 5,381 10,854
Total revenue 543,013 478,519 470,607
EXPENSES      
Depreciation and amortization 161,659 133,343 144,984
Property operating 111,055 100,304 101,511
Real estate taxes 66,434 57,784 58,874
General and administrative:      
Corporate and other 47,131 48,753 44,424
Third-party real estate services 51,919 19,066 18,217
Share-based compensation related to Formation Transaction 29,251 0 0
Transaction and other costs 127,739 6,476 0
Total operating expenses 595,188 365,726 368,010
OPERATING INCOME (LOSS) (52,175) 112,793 102,597
Loss from unconsolidated real estate ventures, net (4,143) (947) (4,283)
Interest and other income, net 1,788 2,992 2,557
Interest expense (58,141) (51,781) (50,823)
Loss on extinguishment of debt (701) 0 0
Gain on bargain purchase 24,376 0 0
INCOME (LOSS) BEFORE INCOME TAX BENEFIT (EXPENSE) (88,996) 63,057 50,048
Income tax benefit (expense) 9,912 (1,083) (420)
NET INCOME (LOSS) (79,084) 61,974 49,628
Net loss attributable to redeemable noncontrolling interests 7,328 0 0
Net loss attributable to noncontrolling interest 3 0 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (71,753) $ 61,974 $ 49,628
EARNINGS (LOSS) PER COMMON SHARE:      
Basic (in dollars per share) $ (0.70) $ 0.62 $ 0.49
Diluted (in dollars per share) $ (0.70) $ 0.62 $ 0.49
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - basic and diluted (in shares) 105,359 100,571 100,571
DIVIDENDS DECLARED PER COMMON SHARE (in dollars pre share) $ 0.45 $ 0 $ 0