SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

The Company anticipates the estimated useful lives of its assets by class to be generally as follows:



Buildings			25-40 years
Building improvements			10-40 years
Tenant improvements			Shorter of lease term or expected useful life
Tenant origination and absorption costs			Remaining term of related leases, including below-market renewal periods
Real estate subsidies & tax abatements			Remaining term of agreement
Furniture, fixtures & equipment			3-12 years

Schedule of Earnings Per Share

The following table summarizes the computation of basic and diluted net loss per common share for the years ended December 31, 2023, 2022 and 2021 (in thousands, except per share data):


	Year Ended December 31,
	2023		2022		2021
Numerator:
Net loss	$	(146,477)	$	(41,670)	$	(12,498)
Net loss (income) attributable to noncontrolling interests	2,326		(530)		2,310
Net loss attributable to redeemable noncontrolling interest	—		81		146
Preferred stock dividends	—		(1,123)		(913)
Adjustment to redemptions value of noncontrolling cumulative convertible redeemable preferred stock	—		(1,800)		—
Net loss attributable to common stockholders (for net loss per common share, basic and diluted)	$	(144,151)	$	(45,042)	$	(10,955)

Denominator:
Weighted-average number of common shares outstanding, basic and diluted	103,642,866		103,522,696		96,967,983

Net loss per common share, basic and diluted	$	(1.39)	$	(0.44)	$	(0.11)