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Condensed Consolidated Statements of Operation - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES    
Total revenues $ 195,622 $ 211,993
EXPENSES    
Property operating expenses 59,542 67,777
Property management expenses 8,197 7,676
Depreciation and amortization 79,754 95,666
General and administrative expenses 10,336 7,180
Other expenses, net 11,246 3,660
Operating expenses 169,075 181,959
Interest income 2,052 1,525
Interest expense (35,282) (36,187)
Loss on extinguishment of debt 0 (2,008)
Gain (loss) on derivative instruments, net 9,574 (2,138)
Loss from unconsolidated real estate partnerships (6,850) (1,035)
Loss before income tax expense (3,959) (9,809)
Income tax expense (319) (139)
Net loss (4,278) (9,948)
Noncontrolling interests:    
Net income attributable to noncontrolling interests in consolidated real estate partnerships (1,101) (685)
Net income attributable to preferred noncontrolling interests in AIR Operating Partnership (1,570) (1,570)
Net loss attributable to common noncontrolling interests in AIR Operating Partnership 357 826
Net income attributable to noncontrolling interests (2,314) (1,429)
Net loss attributable to AIR (6,592) (11,377)
Net income attributable to AIR preferred stockholders (44) (43)
Net loss (income) attributable to participating securities 66 (37)
Net loss attributable to AIR common stockholders $ (6,570) $ (11,457)
Net loss attributable to AIR common stockholders per share - basic (in dollars per share) $ (0.05) $ (0.08)
Net loss attributable to AIR common stockholders per share - diluted (in dollars per share) $ (0.05) $ (0.08)
Weighted average common shares/units outstanding - basic (in shares) 144,550,000 148,810,000
Weighted average common shares/units outstanding - diluted 144,550,000 148,810,000
Rental and other property revenues    
REVENUES    
Total revenues $ 192,382 $ 209,923
Other revenues    
REVENUES    
Total revenues $ 3,240 $ 2,070