| Schedule of Significant Expenses |
The table below details the significant expenses for the three and six months ended June 30, 2026 and 2025. | | | | | | | | | | | | | | | | | | THREE MONTHS ENDED JUNE 30, | SIX MONTHS ENDED JUNE 30, | | Dollars in thousands | | 2026 | 2025 | 2026 | 2025 | | Significant Segment Expenses: | | | | | | | Property taxes | | $ | 25,463 | | $ | 29,029 | | $ | 51,488 | | $ | 57,839 | | | Personnel | | 26,154 | | 24,221 | | 50,715 | | 48,600 | | | Utilities | | 20,750 | | 22,189 | | 41,792 | | 44,140 | | | Maintenance | | 24,369 | | 24,746 | | 50,117 | | 53,493 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Totals | | $ | 96,736 | | $ | 100,185 | | $ | 194,112 | | $ | 204,072 | |
The following schedule reconciles net loss to segment expenses for the three and six months ended June 30, 2026 and 2025. | | | | | | | | | | | | | | | | THREE MONTHS ENDED JUNE 30, | SIX MONTHS ENDED JUNE 30, | | Dollars in thousands | 2026 | 2025 | 2026 | 2025 | | Revenue | $ | 281,849 | | $ | 297,502 | | $ | 560,839 | | $ | 596,478 | | | Property taxes | (25,463) | | (29,029) | | (51,488) | | (57,839) | | | Personnel | (26,154) | | (24,221) | | (50,715) | | (48,600) | | | Utilities | (20,750) | | (22,189) | | (41,792) | | (44,140) | | | Maintenance | (24,369) | | (24,746) | | (50,117) | | (53,493) | | Other segment expenses 1 | (16,606) | | (27,494) | | (36,631) | | (47,033) | | | Transaction costs | (1,473) | | (593) | | (2,410) | | (1,604) | | | Depreciation and amortization | (128,065) | | (153,476) | | (257,051) | | (309,510) | | | Gain on sales of real estate properties and other assets | 3,713 | | 20,004 | | 14,490 | | 22,907 | | | Interest expense | (45,146) | | (53,346) | | (89,036) | | (108,157) | | | Loss on extinguishment of debt | (1,698) | | — | | (1,718) | | — | | | Impairment of real estate properties and credit loss recoveries (reserves) | (42,741) | | (142,348) | | (41,757) | | (154,429) | | | Equity income from unconsolidated joint ventures | 2,929 | | 158 | | 3,425 | | 159 | | | Interest and other (expense) income, net | 19 | | (366) | | 27 | | (271) | | | Net loss | $ | (43,955) | | $ | (160,144) | | $ | (43,934) | | $ | (205,532) | |
|