| Schedule of condensed financial information of unconsolidated real estate ventures |
The following table presents the combined condensed financial position of the Company's unconsolidated real estate ventures as of September 30, 2020 and December 31, 2019 (in thousands):
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|
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|
|
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|
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|
September 30, 2020 |
|
December 31, 2019 |
| ASSETS |
|
|
|
| Self storage properties, net |
$ |
1,803,992 |
|
|
$ |
1,835,235 |
|
| Other assets |
26,094 |
|
|
22,413 |
|
| Total assets |
$ |
1,830,086 |
|
|
$ |
1,857,648 |
|
| LIABILITIES AND EQUITY |
|
|
|
| Debt financing |
$ |
989,819 |
|
|
$ |
989,182 |
|
| Other liabilities |
23,462 |
|
|
20,487 |
|
| Equity |
816,805 |
|
|
847,979 |
|
| Total liabilities and equity |
$ |
1,830,086 |
|
|
$ |
1,857,648 |
|
|
|
|
|
The following tables present the combined condensed operating information of the Company's unconsolidated real estate ventures for the three and nine months ended September 30, 2020 and 2019 (in thousands):
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|
Three Months Ended September 30, |
|
2020 |
|
2019 |
| Total revenue |
$ |
41,878 |
|
|
$ |
41,600 |
|
| Property operating expenses |
13,005 |
|
|
12,727 |
|
| Net operating income |
28,873 |
|
|
28,873 |
|
| Supervisory, administrative and other expenses |
(2,780) |
|
|
(2,750) |
|
| Depreciation and amortization |
(15,320) |
|
|
(20,788) |
|
| Interest expense |
(10,303) |
|
|
(9,934) |
|
|
|
|
|
| Acquisition and other expenses |
(381) |
|
|
(314) |
|
| Net income (loss) |
$ |
89 |
|
|
$ |
(4,913) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2020 |
|
2019 |
| Total revenue |
$ |
121,846 |
|
|
$ |
122,253 |
|
| Property operating expenses |
37,554 |
|
|
37,815 |
|
| Net operating income |
84,292 |
|
|
84,438 |
|
| Supervisory, administrative and other expenses |
(8,089) |
|
|
(8,109) |
|
| Depreciation and amortization |
(45,711) |
|
|
(64,502) |
|
| Interest expense |
(30,867) |
|
|
(29,895) |
|
| Loss on sale of self storage properties |
— |
|
|
(806) |
|
| Acquisition and other expenses |
(800) |
|
|
(1,141) |
|
| Net loss |
$ |
(1,175) |
|
|
$ |
(20,015) |
|
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|
|
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