v3.20.4
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 47,786,000 $ 28,423,000
Restricted cash 2,252,000 3,103,000
Accounts receivable, net 4,446,000 5,249,000
Real estate assets, held-for-sale, net 0 16,948,000
Real estate securities, available-for-sale 3,223,000 3,052,000
Other current assets 14,410,000 17,521,000
Total Current Assets 72,117,000 74,296,000
Restricted cash, noncurrent 795,000 438,000
Property and equipment, net of accumulated depreciation 169,425,000 179,641,000
Operating lease right-of-use assets 192,828,000 215,308,000
Intangibles, net of accumulated amortization 15,124,000 17,565,000
Other investments 0 24,020,000
Other assets 6,765,000 4,723,000
Total Assets 457,054,000 515,991,000
Current Liabilities    
Obligations under finance leases 6,470,000 6,154,000
Membership deposit liabilities 14,692,000 10,791,000
Accounts payable and accrued expenses 29,596,000 25,877,000
Deferred revenue 23,010,000 26,268,000
Other current liabilities 28,217,000 23,968,000
Total Current Liabilities 101,985,000 93,058,000
Credit facilities and obligations under finance leases - noncurrent 12,751,000 13,125,000
Operating lease liabilities - noncurrent 167,837,000 187,675,000
Junior subordinated notes payable 51,182,000 51,192,000
Membership deposit liabilities, noncurrent 99,862,000 95,805,000
Deferred revenue, noncurrent 9,953,000 6,283,000
Other liabilities 3,447,000 3,278,000
Total Liabilities 447,017,000 450,416,000
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 1,347,321 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, 496,000 shares of 8.05% Series C Cumulative Redeemable Preferred Stock, and 620,000 shares of 8.375% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, issued and outstanding as of December 31, 2020 and 2019 61,583,000 61,583,000
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 67,323,592 and 67,068,751 shares issued and outstanding at December 31, 2020 and 2019, respectively 673,000 671,000
Additional paid-in capital 3,178,704,000 3,177,183,000
Accumulated deficit (3,232,391,000) (3,175,572,000)
Accumulated other comprehensive income 1,468,000 1,710,000
Total Equity 10,037,000 65,575,000
Total Liabilities and Equity $ 457,054,000 $ 515,991,000

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