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Consolidated Statements of Operations - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES:      
Rental and other property income $ 138,310,000 $ 166,587,000 $ 196,331,000
Hotel income 35,672,000 35,576,000 45,082,000
Expense reimbursements 10,023,000 16,646,000 12,502,000
Interest and other income 13,719,000 17,567,000 12,016,000
REVENUES 197,724,000 236,376,000 265,931,000
EXPENSES:      
Rental and other property operating 80,171,000 101,585,000 124,703,000
Asset management and other fees to related parties 24,451,000 30,251,000 33,882,000
Interest 27,702,000 36,338,000 34,385,000
General and administrative 9,167,000 5,479,000 7,961,000
Transaction costs (Note 16) 938,000 11,862,000 340,000
Depreciation and amortization 53,228,000 58,364,000 71,968,000
Impairment of real estate (Note 2) 0 13,100,000 0
EXPENSES 195,657,000 256,979,000 273,239,000
Gain on sale of real estate (Note 3) 0 401,737,000 39,666,000
INCOME FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES 2,067,000 381,134,000 32,358,000
Provision for income taxes 925,000 1,376,000 1,646,000
NET INCOME FROM CONTINUING OPERATIONS 1,142,000 379,758,000 30,712,000
DISCONTINUED OPERATIONS:      
Income from operations of assets held for sale (Note 7) 0 0 3,853,000
Gain on disposition of assets held for sale (Note 7) 0 0 0
NET INCOME FROM DISCONTINUED OPERATIONS 0 0 3,853,000
NET INCOME 1,142,000 379,758,000 34,565,000
Net income attributable to noncontrolling interests (21,000) (21,000) (18,000)
NET INCOME ATTRIBUTABLE TO THE COMPANY 1,121,000 379,737,000 34,547,000
Redeemable preferred stock dividends declared and accumulated (Note 11) (15,423,000) (1,926,000) (9,000)
Redeemable preferred stock redemptions (Note 11) 4,000 2,000 0
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (14,298,000) $ 377,813,000 $ 34,538,000
BASIC AND DILUTED NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:      
Continuing operations (in usd per share) $ (0.33) $ 5.47 $ 0.34
Discontinued operations (in usd per share) 0.00 0.00 0.04
Net (loss) income (in usd per share) $ (0.33) $ 5.47 $ 0.38
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:      
Basic (in shares) 43,792 69,062 91,328
Diluted (in shares) 43,792 69,070 91,328