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CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Total Shareholders’ Equity
$0.001 Par Value Common Stock
Additional Paid-In Capital
Distributions in Excess of Accumulated Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Balance - beginning of period (in shares) at Dec. 31, 2023     14,620,919        
Balance - beginning of period at Dec. 31, 2023 $ 681,430 $ 677,009 $ 15 $ 855,554 $ (142,960) $ (35,600) $ 4,421
Net Lease Office Properties              
Net income (loss) (15,348) (15,391)     (15,391)   43
Shares issued (in shares)     164,199        
Shares issued 1 1   12 (11)    
Amortization of stock-based compensation expense 150 150   150      
Distributions to noncontrolling interests (151)           (151)
Other comprehensive income (loss):              
Foreign currency translation adjustments (2,226) (2,226)       (2,226)  
Unrealized gain on derivative instruments 784 784       784  
Balance - end of period (in shares) at Jun. 30, 2024     14,785,118        
Balance - end of period at Jun. 30, 2024 664,640 660,327 $ 15 855,716 (158,362) (37,042) 4,313
Balance - beginning of period (in shares) at Mar. 31, 2024     14,785,118        
Balance - beginning of period at Mar. 31, 2024 651,607 647,225 $ 15 855,641 (170,813) (37,618) 4,382
Net Lease Office Properties              
Net income (loss) 12,473 12,451     12,451   22
Amortization of stock-based compensation expense 75 75   75      
Distributions to noncontrolling interests (91)           (91)
Other comprehensive income (loss):              
Foreign currency translation adjustments 4 4       4  
Unrealized gain on derivative instruments 572 572       572  
Balance - end of period (in shares) at Jun. 30, 2024     14,785,118        
Balance - end of period at Jun. 30, 2024 $ 664,640 660,327 $ 15 855,716 (158,362) (37,042) 4,313
Balance - beginning of period (in shares) at Dec. 31, 2024 14,814,075   14,814,075        
Balance - beginning of period at Dec. 31, 2024 $ 585,403 581,228 $ 15 855,813 (234,443) (40,157) 4,175
Net Lease Office Properties              
Net income (loss) (81,005) (81,048)     (81,048)   43
Distributions to noncontrolling interests (181)           (181)
Other comprehensive income (loss):              
Foreign currency translation adjustments (166) (166)       (166)  
Unrealized gain on derivative instruments $ 0            
Balance - end of period (in shares) at Jun. 30, 2025 14,814,075   14,814,075        
Balance - end of period at Jun. 30, 2025 $ 504,051 500,014 $ 15 855,813 (315,491) (40,323) 4,037
Balance - beginning of period (in shares) at Mar. 31, 2025     14,814,075        
Balance - beginning of period at Mar. 31, 2025 586,229 582,123 $ 15 855,813 (233,951) (39,754) 4,106
Net Lease Office Properties              
Net income (loss) (81,518) (81,540)     (81,540)   22
Distributions to noncontrolling interests (91)           (91)
Other comprehensive income (loss):              
Foreign currency translation adjustments (569) (569)       (569)  
Unrealized gain on derivative instruments $ 0            
Balance - end of period (in shares) at Jun. 30, 2025 14,814,075   14,814,075        
Balance - end of period at Jun. 30, 2025 $ 504,051 $ 500,014 $ 15 $ 855,813 $ (315,491) $ (40,323) $ 4,037