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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
REVENUE $ 43,910 $ 46,934 $ 88,316 $ 92,542
EXPENSES        
Property operating expenses, excluding real estate taxes 12,360 13,942 25,828 28,746
Real estate taxes 5,410 5,574 10,875 10,806
Property management expense 1,345 1,445 2,899 2,999
Casualty loss 913 92 1,240 733
Depreciation and amortization 18,156 18,437 36,316 36,548
General and administrative expenses 3,202 3,549 6,630 7,355
TOTAL EXPENSES 41,386 43,039 83,788 87,187
Operating income (loss) 2,524 3,895 4,528 5,355
Interest expense (6,940) (7,590) (13,851) (15,486)
Loss on extinguishment of debt (17) (407) (17) (409)
Interest and other income (loss) 538 468 (2,239) 892
Income (loss) before gain (loss) on sale of real estate and other investments, and gain (loss) on litigation settlement (3,895) (3,634) (11,579) (9,648)
Gain (loss) on sale of real estate and other investments (190) 615 (190) 669
Gain (loss) on litigation settlement 0 6,286 0 6,286
NET INCOME (LOSS) (4,085) 3,267 (11,769) (2,693)
Dividends to preferred unitholders (160) (160) (320) (217)
Net (income) loss attributable to noncontrolling interests – Operating Partnership 447 (148) 1,139 595
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities (5) 154 140 730
Net income (loss) attributable to controlling interests (3,803) 3,113 (10,810) (1,585)
Dividends to preferred shareholders (1,609) (1,706) (3,314) (3,411)
Discount on redemption of preferred shares 25 0 298 0
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (5,387) $ 1,407 $ (13,826) $ (4,996)
BASIC        
NET EARNINGS (LOSS) PER COMMON SHARE - BASIC (in dollars per share) $ (0.44) $ 0.11 $ (1.13) $ (0.43)
DILUTED        
NET EARNINGS (LOSS) PER COMMON SHARE - DILUTED (in dollars per share) $ (0.44) $ 0.11 $ (1.13) $ (0.43)