Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Total revenues $ 37,122 $ 39,178 $ 112,428 $ 126,499
Operating expenses:        
Property operating 17,284 16,643 49,629 48,399
General and administrative 4,607 4,468 14,341 13,961
Depreciation and amortization 14,709 19,913 45,659 83,031
Impairments 63,698 0 84,910 25,365
Transaction related 114 105 253 382
Total operating expenses 100,412 41,129 194,792 171,138
Other (expenses) income:        
Interest expense, net (7,880) (8,170) (24,052) (24,374)
Gain on disposition of real estate assets 3,265 0 4,156 0
Loss on extinguishment of debt, net 0 0 0 (1,078)
Other (expense) income, net (799) 208 (250) 580
Equity in loss of unconsolidated joint venture, net (256) (218) (773) (497)
Total other (expenses) income, net (5,670) (8,180) (20,919) (25,369)
Loss before taxes (68,960) (10,131) (103,283) (70,008)
Provision for income taxes (67) (76) (200) (226)
Net loss (69,027) (10,207) (103,483) (70,234)
Net income attributable to non-controlling interest (8) (10) (16) (16)
Net loss attributable to common stockholders $ (69,035) $ (10,217) $ (103,499) $ (70,250)
Weighted average shares outstanding - basic (in shares) 56,313 55,948 56,204 55,887
Weighted average shares outstanding - diluted (in shares) 56,313 55,948 56,204 55,887
Basic net loss per share attributable to common stockholders (in dollars per share) $ (1.23) $ (0.18) $ (1.84) $ (1.26)
Diluted net loss per share attributable to common stockholders (in dollars per share) $ (1.23) $ (0.18) $ (1.84) $ (1.26)
Rental        
Total revenues $ 36,918 $ 38,976 $ 111,817 $ 125,894
Fee income from unconsolidated joint venture        
Total revenues $ 204 $ 202 $ 611 $ 605