v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues [Abstract]      
Rental income $ 448,848 $ 442,322 $ 437,338
Expenses:      
Real estate taxes 61,679 62,563 60,053
Other operating expenses 37,056 38,547 38,192
Depreciation and amortization 165,227 171,987 178,728
General and administrative 36,961 30,454 31,164
Acquisition and other transaction related costs 0 0 287
Loss on impairment of real estate 6,081 0 156
Total expenses 307,004 303,551 308,580
Interest and other income 6,716 11,427 7,911
Interest expense (264,559) (292,536) (288,537)
(Loss) gain on sale of real estate (1,376) 0 1,710
Loss on extinguishment of debt (5,070) 0 (359)
Loss before income taxes and equity in earnings of unconsolidated joint venture (122,445) (142,338) (150,517)
Income tax expense (104) (162) (104)
Equity in earnings of unconsolidated joint venture 19,981 5,332 902
Net loss (102,568) (137,168) (149,719)
Net loss attributable to noncontrolling interests 36,381 41,499 41,730
Net loss attributable to common shareholders (66,187) (95,669) (107,989)
Other comprehensive loss:      
Unrealized gain (loss) on derivatives 360 (13,925) (17,999)
Less: unrealized (gain) loss on derivatives attributable to noncontrolling interests (131) 2,689 6,267
Other comprehensive gain (loss) attributable to common shareholders 229 (11,236) (11,732)
Comprehensive loss attributable to common shareholders $ (65,958) $ (106,905) $ (119,721)
Weighted average common shares outstanding (basic) (in shares) 66,006 65,697 65,430
Weighted average common shares outstanding - diluted (in shares) 66,006 65,697 65,430
Net loss per share attributable to common shareholders, basic (in dollars per share) $ (1.00) $ (1.46) $ (1.65)
Net loss per share attributable to common shareholders, diluted (in dollars per share) $ (1.00) $ (1.46) $ (1.65)