v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues [Abstract]        
Rental income $ 110,936 $ 108,945 $ 334,938 $ 331,801
Expenses:        
Real estate taxes 15,205 15,339 45,021 46,349
Other operating expenses 8,781 8,897 27,908 28,426
Depreciation and amortization 41,034 43,205 123,995 130,203
General and administrative 10,586 7,237 28,486 22,865
Loss on impairment of real estate 6,081 0 6,081 0
Total expenses 81,687 74,678 231,491 227,843
Interest and other income 1,585 3,134 5,577 8,921
Interest expense (63,470) (73,936) (201,197) (220,797)
Loss on extinguishment of debt 0 0 (5,070) 0
Loss before income taxes and equity in earnings of unconsolidated joint venture (32,636) (36,535) (97,243) (107,918)
Income tax expense (31) (33) (89) (102)
Equity in earnings of unconsolidated joint venture 2,236 1,161 5,338 5,232
Net loss (30,431) (35,407) (91,994) (102,788)
Net loss attributable to noncontrolling interests 8,866 10,417 27,587 31,220
Net loss attributable to common shareholders (21,565) (24,990) (64,407) (71,568)
Other comprehensive loss:        
Unrealized loss on derivatives (626) (8,972) (370) (15,328)
Less: unrealized loss on derivatives attributable to noncontrolling interests 244 1,988 154 3,408
Other comprehensive loss attributable to common shareholders (382) (6,984) (216) (11,920)
Comprehensive loss attributable to common shareholders $ (21,947) $ (31,974) $ (64,623) $ (83,488)
Weighted average common shares outstanding - basic (in shares) 66,089 65,769 65,951 65,651
Weighted average common shares outstanding - diluted (in shares) 66,089 65,769 65,951 65,651
Net loss per share attributable to common shareholders, basic (in dollars per share) $ (0.33) $ (0.38) $ (0.98) $ (1.09)
Net loss per share attributable to common shareholders, diluted (in dollars per share) $ (0.33) $ (0.38) $ (0.98) $ (1.09)