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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
REVENUE $ 45,608 $ 43,035
EXPENSES    
Property operating expenses, excluding real estate taxes 14,804 14,246
Real estate taxes 5,232 5,021
Casualty loss 641 50
Depreciation and amortization 18,111 20,516
General and administrative expenses 3,806 3,619
TOTAL EXPENSES 44,148 44,829
Operating income (loss) 1,460 (1,794)
Interest expense (7,896) (8,296)
Loss on extinguishment of debt (2) (121)
Interest income 407 673
Other income 17 16
Income (loss) before gain (loss) on sale of real estate and other investments and income (loss) from discontinued operations (6,014) (9,522)
Gain (loss) on sale of real estate and other investments 54 2,304
Income (loss) from continuing operations (5,960) (7,218)
Income (loss) from discontinued operations 0 13,882
NET INCOME (LOSS) (5,960) 6,664
Dividends to preferred unitholders (57) 0
Net (income) loss attributable to noncontrolling interests – Operating Partnership 743 (580)
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities 576 520
Net income (loss) attributable to controlling interests (4,698) 6,604
Dividends to preferred shareholders (1,705) (1,705)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (6,403) $ 4,899
Earnings (loss) per common share from continuing operations – basic and diluted (in dollars per share) $ (0.54) $ (0.63)
Earnings (loss) per common share from discontinued operations – basic and diluted (in dollars per share) 0.00 1.04
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED (in dollars per share) $ (0.54) $ 0.41
Management Service    
EXPENSES    
Property management expense $ 1,554 $ 1,377