v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Real estate    
Self storage properties $ 5,821,364 $ 5,792,174
Less accumulated depreciation (1,006,543) (874,359)
Self storage properties, net 4,814,821 4,917,815
Cash and cash equivalents 69,886 64,980
Restricted cash 8,539 22,713
Debt issuance costs, net 6,343 8,442
Investment in unconsolidated real estate ventures 257,381 211,361
Other assets, net 211,176 134,002
Assets held for sale, net 0 550,199
Operating lease right-of-use assets 21,515 22,299
Total assets 5,389,661 5,931,811
Liabilities    
Debt financing 3,428,304 3,658,205
Accounts payable and accrued liabilities 108,424 92,766
Interest rate swap liabilities 7,774 3,450
Operating lease liabilities 23,493 24,195
Deferred revenue 20,778 27,354
Total liabilities 3,588,773 3,805,970
Commitments and contingencies (Note 11)
Equity    
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 14,692,381 and 14,685,716 issued (in series) and outstanding at September 30, 2024 and December 31, 2023, respectively, at liquidation preference 340,818 340,651
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 76,216,680 and 82,285,995 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 762 823
Additional paid-in capital 1,124,533 1,509,563
Distributions in excess of earnings (498,787) (449,907)
Accumulated other comprehensive income 19,543 21,058
Total shareholders' equity 986,869 1,422,188
Noncontrolling interests 814,019 703,653
Total equity 1,800,888 2,125,841
Total liabilities and equity $ 5,389,661 $ 5,931,811

Source