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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues and grant income:        
Resident fees and services $ 476,834 $ 416,206 $ 1,386,965 $ 1,235,458
Real estate revenue 46,980 46,970 140,963 141,134
Grant income 0 1,064 0 7,445
Total revenues and grant income 523,814 464,240 1,527,928 1,384,037
Expenses:        
Property operating expenses 417,128 374,603 1,223,321 1,117,298
Rental expenses 13,150 14,574 40,200 44,422
General and administrative 11,921 11,342 35,495 36,169
Business acquisition expenses 3,537 1,024 6,334 2,244
Depreciation and amortization 44,246 49,273 132,277 138,644
Total expenses 489,982 450,816 1,437,627 1,338,777
Other income (expense):        
Interest expense (including amortization of deferred financing costs, debt discount/premium and loss on debt and derivative extinguishments) (30,395) (42,005) (97,429) (122,006)
(Loss) gain in fair value of derivative financial instruments (8,967) 3,402 (2,162) 8,200
(Loss) gain on dispositions of real estate investments, net (4) 31,981 2,257 29,777
Impairment of real estate investments 0 (12,510) 0 (12,510)
Loss from unconsolidated entities (2,123) (505) (4,363) (924)
Gain on re-measurement of previously held equity interest 0 0 0 726
Foreign currency gain (loss) 2,689 (1,704) 2,345 372
Other income, net 2,138 1,755 7,107 5,952
Total net other expense (36,662) (19,586) (92,245) (90,413)
Loss before income taxes (2,830) (6,162) (1,944) (45,153)
Income tax expense (263) (284) (1,227) (775)
Net loss (3,093) (6,446) (3,171) (45,928)
Net (income) loss attributable to noncontrolling interests (1,033) 457 (2,868) 1,884
Net loss attributable to controlling interest $ (4,126) $ (5,989) $ (6,039) $ (44,044)
Net loss per share of Common Stock, Class T common stock and Class I common stock attributable to controlling interest — basic (in dollars per share) $ (0.03) $ (0.09) $ (0.05) $ (0.67)
Net loss per share of Common Stock, Class T common stock and Class I common stock attributable to controlling interest — diluted (in dollars per share) $ (0.03) $ (0.09) $ (0.05) $ (0.67)
Weighted average number of shares of Common Stock, Class T common stock and Class I common stock outstanding — basic (in shares) 133,732,745 66,048,991 122,893,049 66,036,253
Weighted average number of shares of Common Stock, Class T common stock and Class I common stock outstanding — diluted (in shares) 133,732,745 66,048,991 122,893,049 66,036,253
Other comprehensive income (loss):        
Foreign currency translation adjustments $ 303 $ (180) $ 272 $ 66
Total other comprehensive income (loss) 303 (180) 272 66
Comprehensive loss (2,790) (6,626) (2,899) (45,862)
Comprehensive (income) loss attributable to noncontrolling interests (1,033) 457 (2,868) 1,884
Comprehensive loss attributable to controlling interest $ (3,823) $ (6,169) $ (5,767) $ (43,978)