XML 89 R68.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Reporting - NOI for Reportable Segment & Reconciles NOI to Net Income (Loss) (Detail) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUE:                      
Rental and other property revenue                 $ 638,913 $ 659,841 $ 627,414
Other income                 1,122 1,142 1,111
Total revenue $ 160,963 $ 160,135 $ 158,402 $ 160,534 $ 167,046 $ 168,607 $ 163,955 $ 161,374 640,035 660,983 628,525
Operating Expenses:                      
Repairs and maintenance                 (29,923) (27,081) (24,033)
Advertising expenses                 8,049 7,110 5,414
Total same-store operating expenses                 235,588 244,330 232,275
Total reportable segments NOI                 403,325 415,511 395,139
Adjustments:                      
Property management expenses                 (29,923) (27,081) (24,033)
General and administrative expenses                 (24,245) (22,766) (26,260)
Depreciation and amortization                 (220,854) (218,968) (252,849)
Casualty losses (gains), net                 (3,935) (925) 8,866
Interest expense                 (76,141) (89,921) (86,955)
(Loss on impairment) gain on sale of real estate assets, net                 (9,862) (66,547) 111,756
Gain (loss) on extinguishment of debt                 200 (124) 0
Other (loss) income, net                 (1) (427) 1,558
Income (loss) from investments in unconsolidated real estate entities                 347 (4,488) (2,169)
Merger and integration costs                 0 0 (5,505)
Restructuring costs               (3,213) 0 (3,213) 0
Net income (loss) $ (1,100) $ 12,620 $ 10,555 $ 17,961 $ (41,654) $ 3,986 $ 10,988 $ 8,872 40,033 (17,807) 120,659
Same Store Segment                      
REVENUE:                      
Rental and other property revenue                 602,584 585,277 558,203
Operating Expenses:                      
Real estate taxes                 69,863 72,518 72,406
Property insurance                 15,698 14,618 11,683
Personnel expenses                 49,504 45,592 45,347
Utilities                 30,210 28,296 28,026
Repairs and maintenance                 (19,791) (20,122) (18,484)
Contract services                 21,846 21,584 18,998
Advertising expenses                 7,578 6,342 4,852
Other property operating expenses                 6,510 6,625 6,891
Total same-store operating expenses                 221,000 215,697 206,687
Total reportable segments NOI                 381,584 369,580 351,516
Non Same Store Segment                      
REVENUE:                      
Rental and other property revenue                 36,329 74,564 69,211
Operating Expenses:                      
Total same-store operating expenses                 14,588 28,633 25,588
Total reportable segments NOI                 $ 21,741 $ 45,931 $ 43,623