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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Rental income $ 121,859,000 $ 123,436,000 $ 100,199,000
Dividend income from real estate equity securities 5,591,000 9,658,000 6,273,000
Total revenues 162,058,000 167,927,000 114,025,000
Expenses:      
Operating, maintenance, and management 44,317,000 42,519,000 33,882,000
Real estate taxes and insurance 21,132,000 20,768,000 15,702,000
Hotel expenses 19,252,000 20,990,000 3,836,000
Asset management fees to affiliate 13,678,000 14,012,000 9,982,000
General and administrative expenses 10,700,000 9,853,000 7,664,000
Foreign currency transaction (gain) loss, net (29,038,000) 7,445,000 2,912,000
Depreciation and amortization 51,930,000 58,871,000 45,041,000
Interest expense 48,130,000 40,510,000 29,138,000
Impairment charges on real estate and related intangibles 18,493,000 10,971,000 0
Impairment charges on goodwill 8,098,000 2,808,000 0
Total expenses 206,692,000 228,747,000 148,157,000
Other income (loss):      
Gain from remeasurement of prior equity interest 0 0 2,009,000
Income from NIP 0 0 97,000
(Loss) income from unconsolidated entities (8,019,000) (1,373,000) 1,621,000
Casualty-related gain 0 27,000 51,000
Other interest income 228,000 194,000 348,000
(Loss) gain on real estate equity securities (51,943,000) 28,632,000 (14,814,000)
Gain (loss) on sale of real estate 46,513,000 30,261,000 (110,000)
Gain (loss) on extinguishment of debt 2,367,000 (4,757,000) 415,000
Gain from consolidation of previously unconsolidated entity 18,742,000 0 0
Transaction and related costs 0 (2,984,000) (6,018,000)
Subordinated performance fee due upon termination to affiliate 0 (1,678,000) 1,720,000
Total other income (loss), net 7,888,000 48,322,000 (14,681,000)
Net loss before income taxes (36,746,000) (12,498,000) (48,813,000)
Income tax provision (4,924,000) 0 0
Net loss (41,670,000) (12,498,000) (48,813,000)
Net (income) loss attributable to noncontrolling interests (530,000) 2,310,000 738,000
Net loss attributable to redeemable noncontrolling interest 81,000 146,000 56,000
Preferred stock dividends (1,123,000) (913,000) (989,000)
Net loss attributable to common stockholders $ (43,242,000) $ (10,955,000) $ (49,008,000)
Net loss per common share, basic (in dollars per share) $ (0.44) $ (0.11) $ (0.65)
Net loss per common share diluted (in dollars per share) $ (0.44) $ (0.11) $ (0.65)
Weighted-average number of common shares outstanding, basic (in shares) 103,522,696 96,967,983 75,407,976
Weighted-average number of common shares outstanding, diluted (in shares) 103,522,696 96,967,983 75,407,976
Hotel revenues      
Revenues:      
Revenue from contract with customer $ 30,749,000 $ 30,806,000 $ 3,718,000
Other operating income      
Revenues:      
Revenue from contract with customer $ 3,859,000 $ 4,027,000 $ 3,835,000