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SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Reconciliation of Net Operating Income of Reportable Segments | The following tables present revenues, NOI, capital expenditures and total assets for the three months ended March 31, 2025 and 2024 from our Residential segment as well as Other, and reconcile NOI to net loss as reported (in thousands):
| Three Months Ended March 31, 2025
| Residential |  | Other |  | Consolidated
Real estate rental revenue | $ | 57,007 |  |  | $ | 4,486 |  |  | $ | 61,493 |
Real estate expenses | 20,609 |  |  | 1,385 |  |  | 21,994 |
Net operating income | $ | 36,398 |  |  | $ | 3,101 |  |  | $ | 39,499 |
Property management expenses |  |  |  |  | (2,246) |
General and administrative expenses |  |  |  |  | (9,229) |
Depreciation and amortization |  |  |  |  | (23,239) |
Interest expense |  |  |  |  | (9,460) |
Net loss |  |  |  |  | $ | (4,675) |
Capital expenditures | $ | 5,663 |  |  | $ | 35 |  |  | $ | 5,698 |
Total assets | $ | 1,703,880 |  |  | $ | 123,699 |  |  | $ | 1,827,579 |
| Three Months Ended March 31, 2024
| Residential |  | Other |  | Consolidated
Real estate rental revenue | $ | 54,871 |  |  | $ | 4,642 |  |  | $ | 59,513 |
Real estate expenses | 20,358 |  |  | 1,361 |  |  | 21,719 |
Net operating income | $ | 34,513 |  |  | $ | 3,281 |  |  | $ | 37,794 |
Property management expenses |  |  |  |  | (2,218) |
General and administrative expenses |  |  |  |  | (6,196) |
Depreciation and amortization |  |  |  |  | (24,943) |
Interest expense |  |  |  |  | (9,494) |
Other income |  |  |  |  | 1,410 |
Net loss |  |  |  |  | $ | (3,647) |
Capital expenditures | $ | 13,565 |  |  | $ | 57 |  |  | $ | 13,622 |
Total assets | $ | 1,751,228 |  |  | $ | 125,311 |  |  | $ | 1,876,539 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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