2019 Q4 Form 10-Q Financial Statement

#000150370719000031 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $72.91M $72.78M $73.47M
YoY Change -0.94% -1.25%
Cost Of Revenue $46.00M $45.36M $47.36M
YoY Change -4.21% 10.18%
Gross Profit $26.91M $27.42M $26.12M
YoY Change 4.99% -16.88%
Gross Profit Margin 36.9% 37.67% 35.55%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.16M $25.63M
YoY Change -36.93% 4.8%
% of Gross Profit 58.95% 98.14%
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $17.22M $17.68M
YoY Change -2.6% 12.69%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$11.64M -$23.29M
YoY Change -50.01% -10.13%
Income Tax $17.00K $10.00K
% Of Pretax Income
Net Earnings -$26.57M -$14.62M -$6.604M
YoY Change -65.58% 121.44% -85.12%
Net Earnings / Revenue -36.45% -20.09% -8.99%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 188.9M shares 189.0M shares 187.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $41.88M $29.18M $37.98M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $21.39M $21.39M $21.39M
YoY Change 0.0% 0.0% -3.28%
Intangibles
YoY Change
Long-Term Investments $268.9M $282.6M
YoY Change 1.73%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.141B $2.173B $2.350B
YoY Change -5.44% -7.53% -21.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $1.474B $1.480B $1.519B
YoY Change -3.05% -2.57% -23.08%
SHAREHOLDERS EQUITY
Retained Earnings -$1.041B -$1.015B -$865.7M
YoY Change 8.59% 17.21% 29.67%
Common Stock $1.704B $1.705B $1.693B
YoY Change 0.25% 0.7% 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $662.4M $687.9M $825.7M
YoY Change
Total Liabilities & Shareholders Equity $2.141B $2.173B $2.350B
YoY Change -5.44% -7.53% -21.68%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$26.57M -$14.62M -$6.604M
YoY Change -65.58% 121.44% -85.12%
Depreciation, Depletion And Amortization $16.16M $25.63M
YoY Change -36.93% 4.8%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2018Q4 us-gaap Equity Method Investments
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264319000 USD
CY2019Q3 us-gaap Equity Method Investments
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282553000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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0 USD
CY2019Q3 us-gaap Finance Lease Liability
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1809000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due
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1984000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
83000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
505000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
597000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
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636000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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163000 USD
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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175000 USD
us-gaap Finance Lease Principal Payments
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424000 USD
CY2019Q3 us-gaap Finance Lease Right Of Use Asset
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3200000 USD
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.058
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2018Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
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14559000 USD
CY2019Q3 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
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6888000 USD
CY2018Q4 us-gaap Furniture And Fixtures Gross
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CY2019Q3 us-gaap Furniture And Fixtures Gross
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97182000 USD
CY2018Q3 us-gaap General And Administrative Expense
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2818000 USD
us-gaap General And Administrative Expense
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9927000 USD
CY2019Q3 us-gaap General And Administrative Expense
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2807000 USD
us-gaap General And Administrative Expense
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8210000 USD
CY2018Q4 us-gaap Goodwill
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21387000 USD
CY2019Q3 us-gaap Goodwill
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21387000 USD
us-gaap Impairment Of Real Estate
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5200000 USD
us-gaap Impairment Of Real Estate
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10100000 USD
us-gaap Increase Decrease In Due To Related Parties
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6170000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-78630000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-11643000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-43122000 USD
CY2019Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3037000 USD
us-gaap Income Loss From Equity Method Investments
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-7666000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
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10000 USD
us-gaap Income Tax Expense Benefit
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40000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17000 USD
us-gaap Income Tax Expense Benefit
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38000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-5691000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-5064000 USD
us-gaap Increase Decrease In Due To Related Parties
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8945000 USD
CY2018Q3 us-gaap Income Loss From Equity Method Investments
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16631000 USD
us-gaap Income Loss From Equity Method Investments
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3907000 USD
us-gaap Increase Decrease In Other Operating Assets
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-1918000 USD
us-gaap Increase Decrease In Other Operating Assets
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644000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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265000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-743000 USD
us-gaap Increase Decrease In Receivables
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-2257000 USD
us-gaap Increase Decrease In Receivables
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790000 USD
CY2018Q4 us-gaap Intangible Assets Net Including Goodwill
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36326000 USD
CY2019Q3 us-gaap Intangible Assets Net Including Goodwill
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28655000 USD
CY2018Q3 us-gaap Interest Expense
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17677000 USD
us-gaap Interest Expense
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52408000 USD
CY2019Q3 us-gaap Interest Expense
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17218000 USD
us-gaap Interest Expense
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51908000 USD
us-gaap Interest Income Operating
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7088000 USD
CY2018Q4 us-gaap Investment Building And Building Improvements
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1580058000 USD
CY2019Q3 us-gaap Investment Building And Building Improvements
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1561978000 USD
CY2018Q3 us-gaap Investment Income Investment Expense
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0 USD
us-gaap Investment Income Investment Expense
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3824000 USD
CY2019Q3 us-gaap Investment Income Investment Expense
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0 USD
us-gaap Investment Income Investment Expense
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0 USD
CY2018Q3 us-gaap Investment Income Net
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1943000 USD
us-gaap Investment Income Net
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7088000 USD
CY2019Q3 us-gaap Investment Income Net
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1946000 USD
us-gaap Investment Income Net
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5771000 USD
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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264319000 USD
CY2019Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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282553000 USD
CY2018Q4 us-gaap Land
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236736000 USD
CY2019Q3 us-gaap Land
Land
236036000 USD
CY2018Q4 us-gaap Land Improvements
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22453000 USD
CY2019Q3 us-gaap Land Improvements
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22939000 USD
CY2018Q4 us-gaap Lease Incentive Receivable
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1254000 USD
CY2019Q3 us-gaap Lease Incentive Receivable
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1719000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
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171878000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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10919000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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14910000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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23760000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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8360000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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68268000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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35139000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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34282000 USD
CY2018Q4 us-gaap Liabilities
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1520042000 USD
CY2019Q3 us-gaap Liabilities
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1479658000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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2264416000 USD
CY2019Q3 us-gaap Liabilities And Stockholders Equity
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2173018000 USD
CY2019Q3 us-gaap Long Term Debt
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CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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870057000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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18820000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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466622000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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76253000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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5765000 USD
CY2018Q4 us-gaap Minority Interest
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5699000 USD
CY2019Q3 us-gaap Minority Interest
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CY2018Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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150000 USD
CY2018Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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160000 USD
CY2018Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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221000 USD
CY2019Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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72000 USD
CY2019Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
67000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
74000 USD
CY2018Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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58600000 USD
CY2019Q3 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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55649000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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34691000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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20000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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20043000 USD
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-400000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-397000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-400000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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-6604000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-74366000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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-50387000 USD
CY2018Q1 us-gaap Noncontrolling Interest Increase From Business Combination
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71000 USD
CY2018Q2 us-gaap Noncontrolling Interest Increase From Business Combination
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218000 USD
us-gaap Provision For Doubtful Accounts
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595000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Number Of Operating Segments
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5 segment
CY2019Q3 us-gaap Number Of Real Estate Properties
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75 property
CY2019Q3 us-gaap Number Of Units In Real Estate Property
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10515 unit
CY2018Q3 us-gaap Noncontrolling Interest Increase From Business Combination
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106000 USD
CY2019Q1 us-gaap Noncontrolling Interest Increase From Business Combination
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256000 USD
CY2019Q2 us-gaap Noncontrolling Interest Increase From Business Combination
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62000 USD
CY2019Q3 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
112000 USD
us-gaap Noninterest Income
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220271000 USD
CY2018Q4 us-gaap Notes Payable
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CY2019Q3 us-gaap Notes Payable
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CY2018Q3 us-gaap Operating Lease Lease Income
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39986000 USD
us-gaap Operating Lease Lease Income
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119626000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
40410000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
121168000 USD
CY2018Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2200000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
10400000 USD
CY2019Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4200000 USD
us-gaap Operating Lease Variable Lease Income
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12300000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
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33405000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
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10919000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
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14635000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
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35096000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
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34240000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
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68268000 USD
CY2018Q4 us-gaap Operating Loss Carryforwards
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73500000 USD
CY2018Q4 us-gaap Other Assets
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14460000 USD
CY2019Q3 us-gaap Other Assets
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14759000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous
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320000 USD
CY2019Q3 us-gaap Other Assets Miscellaneous
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316000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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786000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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200000 USD
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786000 USD
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CY2018Q4 us-gaap Other Intangible Assets Net
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380000 USD
CY2019Q3 us-gaap Other Intangible Assets Net
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380000 USD
CY2018Q4 us-gaap Other Liabilities
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5834000 USD
us-gaap Payments Of Debt Extinguishment Costs
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97000 USD
us-gaap Payments Of Debt Extinguishment Costs
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0 USD
us-gaap Payments For Repurchase Of Common Stock
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4669000 USD
CY2018Q3 us-gaap Other Operating Income
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us-gaap Other Operating Income
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2692000 USD
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85000 USD
us-gaap Other Operating Income
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1445000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Financing Costs
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284000 USD
us-gaap Payments Of Financing Costs
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708000 USD
us-gaap Payments To Acquire Equity Method Investments
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4470000 USD
us-gaap Payments To Acquire Equity Method Investments
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39801000 USD
us-gaap Payments To Minority Shareholders
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531000 USD
us-gaap Payments To Minority Shareholders
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213000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2018Q4 us-gaap Preferred Stock Shares Authorized
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CY2019Q3 us-gaap Preferred Stock Shares Authorized
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CY2019Q3 us-gaap Preferred Stock Shares Authorized
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CY2018Q4 us-gaap Preferred Stock Shares Issued
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CY2019Q3 us-gaap Preferred Stock Shares Issued
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0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2018Q4 us-gaap Preferred Stock Value
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0 USD
CY2019Q3 us-gaap Preferred Stock Value
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0 USD
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
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3536000 USD
CY2019Q3 us-gaap Prepaid Expense Current And Noncurrent
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3829000 USD
CY2015Q1 us-gaap Proceeds From Issuance Initial Public Offering
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1100000000 USD
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
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26342000 USD
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
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4876000 USD
us-gaap Proceeds From Minority Shareholders
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395000 USD
us-gaap Proceeds From Minority Shareholders
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430000 USD
us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Notes Payable
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12800000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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35771000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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0 USD
us-gaap Proceeds From Sale Of Real Estate
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11784000 USD
us-gaap Proceeds From Sale Of Real Estate
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19618000 USD
CY2018Q1 us-gaap Profit Loss
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CY2018Q2 us-gaap Profit Loss
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CY2018Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2019Q1 us-gaap Profit Loss
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CY2019Q2 us-gaap Profit Loss
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CY2019Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2018Q4 us-gaap Real Estate Investment Property At Cost
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1949997000 USD
us-gaap Provision For Doubtful Accounts
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2105000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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171083000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
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215610000 USD
CY2019Q3 us-gaap Real Estate Investment Property At Cost
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1939629000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
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1778914000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
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1724019000 USD
CY2018Q4 us-gaap Real Estate Investments
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1778914000 USD
CY2019Q3 us-gaap Real Estate Investments
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1724019000 USD
CY2018Q3 us-gaap Realized Investment Gains Losses
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726000 USD
us-gaap Realized Investment Gains Losses
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4221000 USD
CY2019Q3 us-gaap Realized Investment Gains Losses
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204000 USD
us-gaap Realized Investment Gains Losses
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5926000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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500000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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453000 USD
us-gaap Repayments Of Notes Payable
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20492000 USD
us-gaap Repayments Of Notes Payable
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45868000 USD
CY2018Q4 us-gaap Restricted Cash
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CY2019Q3 us-gaap Restricted Cash
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CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Business and Organization</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NorthStar Healthcare Income, Inc., together with its consolidated subsidiaries (the &#8220;Company&#8221;), was formed to acquire, originate and asset manage a diversified portfolio of equity, debt and securities investments in healthcare real estate, directly or through joint ventures, with a focus on the mid-acuity senior housing sector, which the Company defines as assisted living (&#8220;ALF&#8221;), memory care (&#8220;MCF&#8221;), skilled nursing (&#8220;SNF&#8221;), independent living (&#8220;ILF&#8221;) facilities and continuing care retirement communities (&#8220;CCRC&#8221;), which may have independent living, assisted living, skilled nursing and memory care available on one campus. The Company also invests in other healthcare property types, including medical office buildings (&#8220;MOB&#8221;), hospitals, rehabilitation facilities and ancillary healthcare services businesses. The Company&#8217;s investments are predominantly in the United States, but it also selectively makes international investments. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company was formed in October 2010 as a Maryland corporation and commenced operations in February 2013. The Company elected to be taxed as a real estate investment trust (&#8220;REIT&#8221;) under the Internal Revenue Code of 1986, as amended (the &#8220;Internal Revenue Code&#8221;), commencing with the taxable year ended December 31, 2013. The Company conducts its operations so as to continue to qualify as a REIT for U.S. federal income tax purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Substantially all of the Company&#8217;s business is conducted through NorthStar Healthcare Income Operating Partnership, LP (the &#8220;Operating Partnership&#8221;). The Company is the sole general partner of the Operating Partnership. The limited partners of the Operating Partnership are NorthStar Healthcare Income Advisor, LLC (the &#8220;Prior Advisor&#8221;) and NorthStar Healthcare Income OP Holdings, LLC (the &#8220;Special Unit Holder&#8221;), each an affiliate of the Company&#8217;s sponsor. The Prior Advisor invested </font><font style="font-family:inherit;font-size:10pt;">$1,000</font><font style="font-family:inherit;font-size:10pt;"> in the Operating Partnership in exchange for common units and the Special Unit Holder invested </font><font style="font-family:inherit;font-size:10pt;">$1,000</font><font style="font-family:inherit;font-size:10pt;"> in the Operating Partnership and was issued a separate class of limited partnership units (the &#8220;Special Units&#8221;), which are collectively recorded as non-controlling interests on the accompanying consolidated balance sheets as of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. As the Company issued shares, it contributed substantially all of the proceeds from its continuous, public offerings to the Operating Partnership as a capital contribution. As of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company&#8217;s limited partnership interest in the Operating Partnership was </font><font style="font-family:inherit;font-size:10pt;">99.99%</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s charter authorizes the issuance of up to </font><font style="font-family:inherit;font-size:10pt;">400.0 million</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock with a par value of </font><font style="font-family:inherit;font-size:10pt;">$0.01</font><font style="font-family:inherit;font-size:10pt;"> per share and up to </font><font style="font-family:inherit;font-size:10pt;">50.0 million</font><font style="font-family:inherit;font-size:10pt;"> shares of preferred stock with a par value of </font><font style="font-family:inherit;font-size:10pt;">$0.01</font><font style="font-family:inherit;font-size:10pt;"> per share. The board of directors of the Company is authorized to amend its charter, without the approval of the stockholders, to increase the aggregate number of authorized shares of capital stock or the number of shares of any class or series that the Company has authority to issue.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company completed its initial public offering (the &#8220;Initial Offering&#8221;) on February 2, 2015 by raising gross proceeds of </font><font style="font-family:inherit;font-size:10pt;">$1.1 billion</font><font style="font-family:inherit;font-size:10pt;">, including </font><font style="font-family:inherit;font-size:10pt;">108.6 million</font><font style="font-family:inherit;font-size:10pt;"> shares issued in its initial primary offering (the &#8220;Initial Primary Offering&#8221;) and </font><font style="font-family:inherit;font-size:10pt;">2.0 million</font><font style="font-family:inherit;font-size:10pt;"> shares issued pursuant to its distribution reinvestment plan (the &#8220;DRP&#8221;). In addition, the Company completed its follow-on offering (the &#8220;Follow-On Offering&#8221;) on January 19, 2016 by raising gross proceeds of </font><font style="font-family:inherit;font-size:10pt;">$700.0 million</font><font style="font-family:inherit;font-size:10pt;">, including </font><font style="font-family:inherit;font-size:10pt;">64.9 million</font><font style="font-family:inherit;font-size:10pt;"> shares issued in its follow-on primary offering (the &#8220;Follow-on Primary Offering&#8221;) and </font><font style="font-family:inherit;font-size:10pt;">4.2 million</font><font style="font-family:inherit;font-size:10pt;"> shares issued pursuant to the DRP. The Company refers to its Initial Primary Offering and its Follow-on Primary Offering collectively as the &#8220;Primary Offering&#8221; and its Initial Offering and Follow-On Offering collectively as the &#8220;Offering.&#8221; In December 2015, the Company registered an additional </font><font style="font-family:inherit;font-size:10pt;">30.0 million</font><font style="font-family:inherit;font-size:10pt;"> shares to be offered pursuant to the DRP and continues to offer such shares, however, as of February 1, 2019, the Company suspended payment of monthly distributions to stockholders. From inception through </font><font style="font-family:inherit;font-size:10pt;">November&#160;7, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company raised total gross proceeds of </font><font style="font-family:inherit;font-size:10pt;">$2.0 billion</font><font style="font-family:inherit;font-size:10pt;">, including </font><font style="font-family:inherit;font-size:10pt;">$232.6 million</font><font style="font-family:inherit;font-size:10pt;"> in DRP proceeds.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is externally managed and has </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> employees. The Company is sponsored by Colony Capital, Inc. (NYSE: CLNY) (&#8220;Colony Capital&#8221; or the &#8220;Sponsor&#8221;), which was formed as a result of the mergers of NorthStar Asset Management Group Inc.(&#8220;NSAM&#8221;), its prior sponsor, with Colony Capital, Inc. (&#8220;Colony&#8221;) and NorthStar Realty Finance Corp. (&#8220;NorthStar Realty&#8221;) in January 2017. Effective June 25, 2018, the Sponsor changed its name from Colony NorthStar, Inc. to Colony Capital, Inc. and its ticker symbol from &#8220;CLNS&#8221; to &#8220;CLNY.&#8221; Following the mergers, the Sponsor became an internally-managed equity REIT, with a diversified real estate and investment management platform. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colony Capital manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, non-traded and traded REITs and registered investment companies. The Company&#8217;s advisor, CNI NSHC Advisors, LLC (the &#8220;Advisor&#8221;), is a subsidiary of Colony Capital and manages its day-to-day operations pursuant to an advisory agreement.</font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Estimates</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that could affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates and assumptions.</font></div></div>

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