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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenue:    
Investment interest income $ 6,921 $ 18,865
Investment interest expense (4,163) (10,549)
Net interest margin 2,758 8,316
Property income 3,307 8,816
Fee and other income 88 1,209
Total revenue 6,153 18,341
Expenses:    
Interest expense 3,996 6,771
Real estate operating expense 2,003 5,790
Property management expenses   1,931
General and administrative expenses:    
Compensation expense 2,229 2,925
Other general and administrative expense 3,451 6,338
Total general and administrative expenses 5,680 9,263
Acquisition and integration expenses   133
Provision (benefit) for loan losses (583) 8,032
Depreciation and amortization expense 1,384 3,443
Total expenses 12,480 35,363
Operating (Loss) Income (6,327) (17,022)
Interest and other income (expense), net 104 349
Gains (losses) on assets 303 (937)
Gains (losses) on extinguishments of debt (285) (991)
Asset impairment (26) (9,191)
Change in fair value of financial instruments 30 87
Income (loss) before taxes (6,201) (27,705)
Net income (loss) (6,201) (27,705)
(Income) loss allocated to preferred shares (5,063) (6,389)
Net income (loss) allocable to common shares $ (11,264) $ (34,094)
Earnings (loss) per share-Basic:    
Earnings (loss) per share-Basic $ (6.11) $ (18.55)
Weighted-average shares outstanding-Basic [1] 1,844,037 1,837,493
Earnings (loss) per share-Diluted:    
Earnings (loss) per share-Diluted $ (6.11) $ (18.55)
Weighted average shares outstanding-Diluted [1] 1,844,037 1,837,493
[1] All share and per-share amounts have been retroactively adjusted to reflect the Reverse Stock Split for all periods presented herein.