v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Revenue | |||
| Real estate rental revenue | $ 241,935,000 | $ 227,911,000 | $ 209,380,000 |
| Revenue, type [Extensible Enumeration] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] |
| Expenses | |||
| Property operating and maintenance | $ 56,282,000 | $ 50,985,000 | $ 47,384,000 |
| Real estate taxes and insurance | 32,419,000 | 28,845,000 | 26,617,000 |
| Property management | 8,861,000 | 8,108,000 | 7,436,000 |
| General and administrative | 24,969,000 | 25,887,000 | 28,258,000 |
| Transformation costs | 0 | 6,339,000 | 9,686,000 |
| Depreciation and amortization | 95,935,000 | 88,950,000 | 91,722,000 |
| Real estate impairment | 0 | 41,860,000 | 0 |
| Total expenses | 218,466,000 | 250,974,000 | 211,103,000 |
| Real estate operating income (loss) | 23,469,000 | (23,063,000) | (1,723,000) |
| Other income (expense) | |||
| Interest expense | (37,835,000) | (30,429,000) | (24,940,000) |
| Loss on extinguishment of debt, net | (147,000) | (54,000) | (4,917,000) |
| Other income | 1,410,000 | 569,000 | 712,000 |
| Total other income (expense) | (36,572,000) | (29,914,000) | (29,145,000) |
| Net loss | $ (13,103,000) | $ (52,977,000) | $ (30,868,000) |
| Basic (in dollars per share) | $ (0.15) | $ (0.61) | $ (0.36) |
| Diluted (in dollars per share) | $ (0.15) | $ (0.61) | $ (0.36) |
| Weighted average shares outstanding – basic (in shares) | 87,920 | 87,735 | 87,388 |
| Weighted average shares outstanding – diluted (in shares) | 87,920 | 87,735 | 87,388 |
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- Definition Costs Of Goods And Services Sold, Property Management No definition available.
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- Definition Property Operating And Maintenance No definition available.
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- Definition Transformation Costs No definition available.
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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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 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 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 interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. 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 The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of real estate taxes and insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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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- References No definition available.
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- Definition Indicates type of revenue from product and service. Includes, but is not limited to, revenue from contract with customer and other sources. No definition available.
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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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