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Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES:        
Rental and other property income $ 45,048,000 $ 57,414,000 $ 161,813,000 $ 181,886,000
Expense reimbursements 4,717,000 3,884,000 10,273,000 10,128,000
Interest and other income 5,619,000 3,034,000 11,546,000 9,295,000
REVENUES 55,384,000 64,332,000 183,632,000 201,309,000
EXPENSES:        
Rental and other property operating 26,058,000 31,723,000 76,267,000 95,300,000
Asset management and other fees to related parties 6,896,000 8,496,000 23,459,000 25,503,000
Interest 9,359,000 10,276,000 28,645,000 24,386,000
General and administrative 1,342,000 2,226,000 4,668,000 6,299,000
Transaction costs (Note 16) 242,000 53,000 11,870,000 320,000
Depreciation and amortization 13,472,000 17,724,000 45,464,000 54,262,000
Impairment of real estate 0 0 13,100,000 0
EXPENSES 57,369,000 70,498,000 203,473,000 206,070,000
Gain on sale of real estate (Note 3) 74,715,000 14,927,000 378,732,000 39,666,000
INCOME FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES 72,730,000 8,761,000 358,891,000 34,905,000
Provision for income taxes 339,000 379,000 1,193,000 1,040,000
NET INCOME FROM CONTINUING OPERATIONS 72,391,000 8,382,000 357,698,000 33,865,000
DISCONTINUED OPERATIONS:        
Income from operations of assets held for sale (Note 7) 0 703,000 0 3,061,000
NET INCOME FROM DISCONTINUED OPERATIONS 0 703,000 0 3,061,000
NET INCOME 72,391,000 9,085,000 357,698,000 36,926,000
Net loss (income) attributable to noncontrolling interests 4,000 3,000 (10,000) (9,000)
NET INCOME ATTRIBUTABLE TO THE COMPANY 72,395,000 9,088,000 357,688,000 36,917,000
Redeemable preferred stock dividends (138,000) 0 (241,000) 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 72,257,000 $ 9,088,000 $ 357,447,000 $ 36,917,000
BASIC AND DILUTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS PER SHARE:        
Continuing operations (in usd per share) $ 1.25 $ 0.10 $ 4.86 $ 0.36
Discontinued operations (in usd per share) 0.00 0.01 0.00 0.03
Net income (in usd per share) $ 1.25 $ 0.10 $ 4.86 $ 0.39
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 57,876 87,045 73,503 93,772
Diluted (in shares) 57,876 87,045 73,503 93,772