Consolidated Statements of Operations - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| REVENUE: | |||
| Rental and other property revenue | $ 656,481,000 | $ 638,913,000 | $ 659,841,000 |
| Other revenue | 1,215,000 | 1,122,000 | 1,142,000 |
| Total revenue | 657,696,000 | 640,035,000 | 660,983,000 |
| EXPENSES: | |||
| Property operating expenses | 239,157,000 | 235,588,000 | 244,330,000 |
| Property management expenses | 30,107,000 | 29,923,000 | 27,081,000 |
| General and administrative expenses | 23,966,000 | 24,245,000 | 22,766,000 |
| Depreciation and amortization expense | 243,241,000 | 220,854,000 | 218,968,000 |
| Casualty losses | 1,314,000 | 3,935,000 | 925,000 |
| Total expenses | 537,785,000 | 514,545,000 | 514,070,000 |
| Interest expense | (78,998,000) | (76,141,000) | (89,921,000) |
| Gain on sale (loss on impairment) of real estate assets, net | 6,147,000 | (9,862,000) | (66,547,000) |
| (Loss) gain on extinguishment of debt | (67,000) | 200,000 | (124,000) |
| Other Nonoperating Income (Expense) | (352,000) | (1,000) | (427,000) |
| Income (loss) from investments in unconsolidated real estate entities | 11,066,000 | 347,000 | (4,488,000) |
| Restructuring costs | 0 | 0 | (3,213,000) |
| Net income (loss) | 57,707,000 | 40,033,000 | (17,807,000) |
| (Income) loss allocated to noncontrolling interest | (1,149,000) | (742,000) | 580,000 |
| Net income (loss) allocable to common shares | $ 56,558,000 | $ 39,291,000 | $ (17,227,000) |
| Earnings (loss) per share: | |||
| Basic (in dollars per share) | $ 0.24 | $ 0.17 | $ (0.08) |
| Diluted (in dollars per share) | $ 0.24 | $ 0.17 | $ (0.08) |
| Weighted-average shares: | |||
| Basic (in shares) | 233,923,616 | 224,798,958 | 224,414,443 |
| Diluted (in shares) | 234,750,431 | 225,584,306 | 224,414,443 |
| X | ||||||||||
- Definition Represents operating expenses related to cost of property. No definition available.
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| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of (gain) loss for an event or transaction that is unusual in nature or occurs infrequently, or both. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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