v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 17, 2026
Jun. 30, 2025
Jun. 17, 2026
Jun. 30, 2025
Rental income $ 18,359        
Expenses:          
Real estate taxes 2,045        
Utility expenses 1,081        
Other operating expenses 4,019        
Depreciation and amortization 8,094        
Loss on impairment of real estate 0        
Transaction related costs 0        
General and administrative 1,263        
Total expenses 16,502        
Gain on sale of real estate 0        
Fair value adjustment of warrants 1,491 $ 0   $ 0 $ 0
Interest and other income 949        
Interest expense (including net amortization of debt premiums, discounts and issuance costs of $236, $2,130 and $11,364, respectively) (6,544)        
Net gain on early extinguishment of debt 0        
Reorganization items, net (894)        
Loss before income tax expense and equity in net earnings (losses) of investees (3,141)        
Income tax expense (38)        
Equity in net earnings (losses) of investees 92        
Net loss $ (3,087)        
Weighted average common shares outstanding (basic) (in shares) 21,954        
Weighted average common shares outstanding (diluted) (in shares) 21,954        
Per common share amounts (basic and diluted):          
Net loss, basic (in dollars per share) $ (0.14)        
Net loss, diluted (in dollars per share) $ (0.14)        
Predecessor          
Rental income   98,473 $ 114,499 207,341 228,114
Expenses:          
Real estate taxes   10,736 12,111 23,830 25,569
Utility expenses   4,664 5,683 13,743 13,250
Other operating expenses   26,303 31,237 56,585 62,442
Depreciation and amortization   54,436 43,838 98,519 87,571
Loss on impairment of real estate   0 2,426 0 2,426
Transaction related costs   0 3,940 0 4,816
General and administrative   4,213 4,816 8,512 9,874
Total expenses   100,352 104,051 201,189 205,948
Gain on sale of real estate   0 159 0 (4,578)
Fair value adjustment of warrants     0 0 0
Interest and other income   368 788 799 1,950
Interest expense (including net amortization of debt premiums, discounts and issuance costs of $236, $2,130 and $11,364, respectively)   (42,341) (52,507) (84,548) (105,885)
Net gain on early extinguishment of debt   0 148 0 (95)
Reorganization items, net   (745,342) 0 (804,874) 0
Loss before income tax expense and equity in net earnings (losses) of investees   (789,194) (40,964) (882,471) (86,442)
Income tax expense   (207) (94) (61) (231)
Equity in net earnings (losses) of investees   382 (128) 492 (380)
Net loss   $ (789,019) $ (41,186) $ (882,040) $ (87,053)
Weighted average common shares outstanding (basic) (in shares)   72,916 71,282 73,267 70,275
Weighted average common shares outstanding (diluted) (in shares)   72,916 71,282 73,267 70,275
Per common share amounts (basic and diluted):          
Net loss, basic (in dollars per share)   $ (10.82) $ (0.58) $ (12.04) $ (1.24)
Net loss, diluted (in dollars per share)   $ (10.82) $ (0.58) $ (12.04) $ (1.24)