Balance Sheet

v3.24.2.u1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Real estate
Self storage properties	$ 5,818,388	$ 5,792,174
Less accumulated depreciation	(961,977)	(874,359)
Self storage properties, net	4,856,411	4,917,815
Cash and cash equivalents	58,975	64,980
Restricted cash	8,064	22,713
Debt issuance costs, net	7,055	8,442
Investment in unconsolidated real estate ventures	230,295	211,361
Other assets, net	138,522	134,002
Assets held for sale, net	0	550,199
Operating lease right-of-use assets	21,779	22,299
Total assets	5,321,101	5,931,811
Liabilities
Debt financing	3,365,836	3,658,205
Accounts payable and accrued liabilities	93,042	92,766
Interest rate swap liabilities	0	3,450
Operating lease liabilities	23,731	24,195
Deferred revenue	21,427	27,354
Total liabilities	3,504,036	3,805,970
Commitments and contingencies (Note 11)
Equity
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 75,169,162 and 82,285,995 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	752	823
Additional paid-in capital	1,293,694	1,509,563
Distributions in excess of earnings	(469,768)	(449,907)
Accumulated other comprehensive income	25,881	21,058
Total shareholders' equity	1,191,210	1,422,188
Noncontrolling interests	625,855	703,653
Total equity	1,817,065	2,125,841
Total liabilities and equity	5,321,101	5,931,811
Series A Preferred Shares
Equity
Series A and B Preferred shares of beneficial interest, shares authorized, issued and outstanding at liquidation preference	225,439	225,439
Series B Preferred Shares
Equity
Series A and B Preferred shares of beneficial interest, shares authorized, issued and outstanding at liquidation preference	$ 115,212	$ 115,212

- Definition

Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.

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