v3.25.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Total revenues $ 200,477 $ 200,373 $ 403,949 $ 395,995
EXPENSES        
Property operating expenses 62,068 59,867 122,430 119,354
Property management expenses 8,046 7,733 18,238 15,930
Depreciation and amortization 77,190 82,384 155,795 162,138
General and administrative expenses 8,831 9,286 15,835 19,622
Other expenses, net 8,897 6,814 16,927 14,915
Property management and operating expenses 165,032 166,084 329,225 331,959
Interest income 6,958 2,044 14,567 4,096
Interest expense (92,248) (31,232) (186,085) (66,514)
Loss on extinguishment of debt in conjunction with a property sale (922) 0 (2,030) 0
Loss on extinguishment of debt related to the Merger 0 (28,328) 0 (28,328)
Gain on dispositions of real estate, net 135,874 3,282 241,400 3,282
(Loss) gain on derivative instruments, net (1,882) 5,207 (15,559) 14,781
Loss from unconsolidated real estate partnerships (2,921) (2,200) (6,531) (9,050)
Merger-related costs 0 (164,728) 0 (167,928)
Income (loss) before income tax expense 80,304 (181,666) 120,486 (185,625)
Income tax expense (244) (535) (264) (854)
Net income (loss) 80,060 (182,201) 120,222 (186,479)
Net income attributable to noncontrolling interests in consolidated real estate partnerships (29,746) (867) (31,550) (1,968)
Net income (loss) attributable to the AIR Operating Partnership 50,314 (183,068) 88,672 (188,447)
Net income attributable to the AIR Operating Partnership's preferred unitholders (1,153) (1,627) (2,307) (3,241)
Net loss attributable to participating securities 0 0 0 66
Net income (loss) attributable to the AIR Operating Partnership’s common unitholders $ 49,161 $ (184,695) $ 86,365 $ (191,622)
Net (loss) income attributable to the AIR Operating Partnership's common unitholders per unit – basic (in dollars per share) $ 0.33 $ (1.20) $ 0.57 $ (1.24)
Weighted average common units outstanding - basic (in shares) 151,100 154,290 152,222 154,307
Weighted average common units outstanding - diluted 153,373 154,290 154,414 154,307
Rental and other property revenues        
REVENUES        
Total revenues $ 195,402 $ 197,129 $ 394,329 $ 389,511
Other revenues        
REVENUES        
Total revenues $ 5,075 $ 3,244 $ 9,620 $ 6,484