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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net interest income        
Interest income $ 63,318 $ 74,339 $ 130,881 $ 149,955
Interest expense (38,066) (44,095) (78,200) (86,757)
Net interest income 25,252 30,244 52,681 63,198
Property and other income        
Property operating income 25,178 21,727 50,283 44,278
Other income 2,921 3,248 6,020 6,304
Total property and other income 28,099 24,975 56,303 50,582
Expenses        
Property operating expense 7,903 5,443 16,548 11,295
Transaction, investment and servicing expense 391 820 1,013 1,655
Interest expense on real estate 6,748 6,773 13,531 12,282
Depreciation and amortization 8,953 7,941 19,343 15,937
Increase of current expected credit loss reserve 39,901 28,966 114,312 68,579
Impairment of operating real estate 45,216 0 45,216 0
Compensation and benefits (including $3,150, $3,102, $5,320 and $5,398 of equity-based compensation expense, respectively) 9,578 9,368 18,349 18,173
Operating expense 3,008 3,273 6,207 6,746
Total expenses 121,698 62,584 234,519 134,667
Other income        
Other gain (loss), net (142) 177 189 832
Loss before equity in earnings of unconsolidated ventures and income taxes (68,489) (7,188) (125,346) (20,055)
Equity in earnings (loss) of unconsolidated ventures 0 0 0 9,055
Income tax expense (194) (310) (446) (700)
Net loss (68,683) (7,498) (125,792) (11,700)
Net loss attributable to noncontrolling interests:        
Investment entities 823 12 827 87
Net loss attributable to BrightSpire Capital, Inc. common stockholders $ (67,860) $ (7,486) $ (124,965) $ (11,613)
Net loss per common share - basic (in dollars per share) $ (0.53) $ (0.06) $ (0.99) $ (0.09)
Net loss per common share - diluted (in dollars per share) $ (0.53) $ (0.06) $ (0.99) $ (0.09)
Weighted average shares of common stock outstanding - basic (in shares) 127,986,000 127,173,000 127,656,000 126,920,000
Weighted average shares of common stock outstanding - diluted (in shares) 127,986,000 127,173,000 127,656,000 126,920,000