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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total revenues $ 394,535 $ 421,795 $ 794,800 $ 845,845
Expenses        
Property operating 166,879 180,515 337,984 360,172
General and administrative 9,027 13,396 18,681 25,888
Management fees 22,178 26,514 44,944 58,510
Depreciation and amortization 173,654 185,889 346,504 372,287
Total expenses 371,738 406,314 748,113 816,857
Other expense        
Loss from unconsolidated real estate ventures (4,525) (1,705) (6,354) (5,673)
Income from investments in real estate debt, net 18,494 12,374 38,130 52,871
Net gain on dispositions of real estate 14,087 573 23,777 2,656
Interest expense (150,891) (158,188) (303,118) (312,221)
Other expense, net (105,292) (22,376) (192,026) (6,748)
Total other expense (228,127) (169,322) (439,591) (269,115)
Net loss (205,330) (153,841) (392,904) (240,127)
Net loss attributable to non-controlling interests in consolidated joint ventures 1,204 705 2,283 892
Net loss attributable to non-controlling interests in Operating Partnership 10,229 7,415 19,544 12,168
Net loss attributable to stockholders $ (193,897) $ (145,721) $ (371,077) $ (227,067)
Net loss per share of common stock, basic $ (0.49) $ (0.36) $ (0.93) $ (0.55)
Net loss per share of common stock, diluted $ (0.49) $ (0.36) $ (0.93) $ (0.55)
Weighted-average shares of common stock outstanding, basic 399,564,483 406,479,897 400,276,392 413,628,674
Weighted-average shares of common stock outstanding, diluted 399,564,483 406,479,897 400,276,392 413,628,674
Comprehensive loss:        
Net loss $ (205,330) $ (153,841) $ (392,904) $ (240,127)
Other comprehensive income (loss) item:        
Foreign currency translation adjustments 47,535 (4,746) 69,743 (14,359)
Other comprehensive income (loss) 47,535 (4,746) 69,743 (14,359)
Comprehensive loss (157,795) (158,587) (323,161) (254,486)
Rental revenue        
Revenues        
Total revenues 386,801 412,464 780,851 825,547
Other revenue        
Revenues        
Total revenues $ 7,734 $ 9,331 $ 13,949 $ 20,298