Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 39,683 $ 79,235
Restricted cash 4,299 3,326
Accounts receivable, net 6,341 7,518
Real estate assets, held-for-sale, net 33,355 75,862
Real estate securities, available-for-sale 3,071 2,953
Other current assets 20,471 20,505
Total current assets 107,220 189,399
Restricted cash, noncurrent 258 258
Property and equipment, net of accumulated depreciation 177,619 132,605
Operating lease right-of-use assets 225,666  
Intangibles, net of accumulated amortization 20,115 48,388
Other investments 23,300 22,613
Other assets 4,897 8,684
Total assets 559,075 401,947
Current liabilities    
Obligations under finance leases 7,675 5,489
Deferred revenue 10,905 18,793
Accounts payable and accrued expenses 41,375 45,284
Real estate liabilities, held-for-sale 33 2,947
Other current liabilities 28,075 22,285
Total current liabilities 96,856 103,659
Credit facilities and obligations under finance leases - noncurrent 15,433 10,489
Operating lease liabilities - noncurrent 195,347  
Junior subordinated notes payable 51,196 51,200
Membership deposit liabilities, noncurrent 94,156 90,684
Deferred revenue, noncurrent 5,930 6,016
Other liabilities 3,035 5,232
Total liabilities 461,953 267,280
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 June 30, 2019 and December 31, 2018 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 67,033,104 and 67,027,104 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 670 670
Additional paid-in capital 3,178,478 3,175,843
Accumulated deficit (3,145,487) (3,105,307)
Accumulated other comprehensive income 1,878 1,878
Total equity 97,122 134,667
Total liabilities and equity 559,075 401,947
Membership deposit liabilities    
Current liabilities    
Deferred revenue $ 8,793 $ 8,861