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Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental revenue (including reimbursable) $ 38,172 $ 31,167 $ 110,226 $ 89,347
Interest income on loans receivable 3,272 2,244 8,458 5,145
Other revenue 0 550 0 550
Total revenues 41,444 33,961 118,684 95,042
Operating expenses        
Property 4,494 3,883 12,578 11,350
General and administrative 4,287 5,133 15,266 15,299
Depreciation and amortization 20,438 15,804 56,522 46,599
Provisions for impairment 9,838 1,538 17,336 4,374
Transaction costs 26 143 201 267
Total operating expenses 39,083 26,501 101,903 77,889
Other (expense) income        
Interest expense, net (7,965) (3,946) (21,749) (13,412)
(Loss) gain on sales of real estate, net (132) 373 874 669
Loss on debt extinguishment 0 0 0 (128)
Total other (expense) income, net 416 367 (2,451) 586
Total other (expense) income, net (7,681) (3,206) (23,326) (12,285)
Net (loss) income before income taxes (5,320) 4,254 (6,545) 4,868
Income tax (expense) benefit (2) (15) (31) 60
Net (loss) income (5,322) 4,239 (6,576) 4,928
Net (loss) income attributable to noncontrolling interests (27) 24 (35) 32
Net (loss) income attributable to common stockholders $ (5,295) $ 4,215 $ (6,541) $ 4,896
Amounts available to common stockholders per common share:        
Basic (in dollars per share) $ (0.07) $ 0.06 $ (0.09) $ 0.08
Diluted (in dollars per share) $ (0.07) $ 0.06 $ (0.09) $ 0.08
Weighted average common shares:        
Basic (in shares) 77,610,680 67,112,587 74,822,286 62,123,334
Diluted (in shares) 77,610,680 68,048,369 74,822,286 62,897,957
Other comprehensive income:        
Net (loss) income $ (5,322) $ 4,239 $ (6,576) $ 4,928
Change in value on derivatives, net (20,164) 6,466 (11,456) 6,875
Total comprehensive (loss) income (25,486) 10,705 (18,032) 11,803
Comprehensive (loss) income attributable to noncontrolling interests (138) 78 (95) 86
Comprehensive (loss) income attributable to common stockholders $ (25,348) $ 10,627 $ (17,937) $ 11,717