Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 24,816 $ 79,235
Restricted cash 3,163 3,326
Accounts receivable, net 5,243 7,518
Real estate assets, held-for-sale, net 27,833 75,862
Real estate securities, available-for-sale 2,914 2,953
Other current assets 18,615 20,505
Total current assets 82,584 189,399
Restricted cash, noncurrent 931 258
Property and equipment, net of accumulated depreciation 185,737 132,605
Operating lease right-of-use assets 220,197  
Intangibles, net of accumulated amortization 18,208 48,388
Other investments 23,648 22,613
Other assets 4,601 8,684
Total assets 535,906 401,947
Current liabilities    
Obligations under finance leases 6,222 5,489
Membership deposit liabilities 10,766 8,861
Accounts payable and accrued expenses 38,032 45,284
Deferred revenue 7,627 18,793
Real estate liabilities, held-for-sale 21 2,947
Other current liabilities 28,697 22,285
Total current liabilities 91,365 103,659
Credit facilities and obligations under finance leases - noncurrent 14,397 10,489
Operating lease liabilities - noncurrent 191,442  
Junior subordinated notes payable 51,194 51,200
Membership deposit liabilities, noncurrent 93,988 90,684
Deferred revenue, noncurrent 6,170 6,016
Other liabilities 3,694 5,232
Total liabilities 452,250 267,280
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 September 30, 2019 and December 31, 2018 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 67,050,556 and 67,027,104 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 670 670
Additional paid-in capital 3,178,655 3,175,843
Accumulated deficit (3,158,901) (3,105,307)
Accumulated other comprehensive income 1,649 1,878
Total equity 83,656 134,667
Total liabilities and equity $ 535,906 $ 401,947