CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2025 |
Sep. 30, 2024 |
Sep. 30, 2025 |
Sep. 30, 2024 |
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| Income Statement [Abstract] | ||||||
| Revenue from tenants | $ 86,026 | $ 88,940 | $ 257,801 | $ 266,056 | ||
| Operating expenses: | ||||||
| Property operating and maintenance | 53,845 | 56,407 | 165,880 | 166,557 | ||
| Impairment charges | 6,641 | 8,829 | 33,752 | 11,498 | ||
| Operating fees to related parties | 0 | 6,391 | 0 | 19,181 | ||
| Termination fees to related parties | 0 | 8,409 | 0 | 106,650 | ||
| Acquisition and transaction related | 91 | 5,187 | 639 | 5,686 | ||
| General and administrative | 5,671 | 5,502 | 15,642 | 16,938 | ||
| Depreciation and amortization | 18,029 | 20,720 | 60,274 | 63,386 | ||
| Total expenses | 84,277 | 111,445 | 276,187 | 389,896 | ||
| Operating gain (loss) before gain on sale of real estate investments | 1,749 | (22,505) | (18,386) | (123,840) | ||
| Gain on sale of real estate investments | 626 | 1,579 | 28,267 | 1,354 | ||
| Operating income (loss) | 2,375 | (20,926) | 9,881 | (122,486) | ||
| Other expense: | ||||||
| Interest expense | (15,060) | (18,007) | (45,425) | (52,142) | ||
| Interest and other income | 294 | 548 | 512 | 1,077 | ||
| Gain on extinguishment of debt | 0 | 0 | 257 | 0 | ||
| (Loss) gain on non-designated derivatives | (77) | (2,384) | (46) | 449 | ||
| Total other expenses, net | (14,843) | (19,843) | (44,702) | (50,616) | ||
| Loss before income taxes | (12,468) | (40,769) | (34,821) | (173,102) | ||
| Income tax benefit | (66) | 0 | (60) | (135) | ||
| Net loss | (12,534) | (40,769) | (34,881) | (173,237) | ||
| Net (income) loss attributable to non-controlling interests | (21) | 77 | (44) | 529 | ||
| Allocation for preferred stock | (3,326) | (3,450) | (10,162) | (10,350) | ||
| Net loss attributable to common stockholders | (15,881) | (44,142) | (45,087) | (183,058) | ||
| Other comprehensive loss: | ||||||
| Unrealized loss on designated derivatives | (1,881) | (10,167) | (9,080) | (9,163) | ||
| Comprehensive loss attributable to common stockholders | $ (17,762) | $ (54,309) | $ (54,167) | $ (192,221) | ||
| Weighted-average shares outstanding - Basic (in shares) | [1] | 28,296,919 | 28,291,594 | 28,296,600 | 28,283,017 | |
| Weighted-average shares outstanding - Diluted (in shares) | [1] | 28,296,919 | 28,291,594 | 28,296,600 | 28,283,017 | |
| Net loss per share attributable to common stockholders - Basic (in usd per share) | [1] | $ (0.56) | $ (1.56) | $ (1.59) | $ (6.47) | |
| Net loss per share attributable to common stockholders - Diluted (in usd per share) | [1] | $ (0.56) | $ (1.56) | $ (1.59) | $ (6.47) | |
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- Definition Operating Income (Loss) Before Gain (Loss) on Sale of Real Estate Investments No definition available.
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- Definition Termination Fees, Related Party No definition available.
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- Definition Amount of expense for acquisition-related cost incurred to effect business combination. Includes, but is not limited to, finder's fee; advisory, legal, accounting, valuation, and other professional and consulting fees; and general administrative cost, including cost of maintaining internal acquisition department. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Costs of sales and operating expenses for the period incurred from transactions with related parties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, after tax and reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness, attributable to parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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