Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Real estate    
Self storage properties $ 3,807,621 $ 3,639,192
Less accumulated depreciation (473,019) (443,623)
Self storage properties, net 3,334,602 3,195,569
Cash and cash equivalents 19,513 18,723
Restricted cash 3,297 2,978
Debt issuance costs, net 2,293 2,496
Investment in unconsolidated real estate ventures 199,277 202,533
Other assets, net 69,751 68,149
Operating lease right-of-use assets 22,903 23,129
Total assets 3,651,636 3,513,577
Liabilities    
Debt financing 1,932,770 1,916,971
Accounts payable and accrued liabilities 42,347 47,043
Interest rate swap liabilities 52,044 77,918
Operating lease liabilities 24,569 24,756
Deferred revenue 18,286 16,414
Total liabilities 2,070,016 2,083,102
Commitments and contingencies (Note 11)
Equity    
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 8,732,719 and 8,732,719 issued and outstanding at March 31, 2021 and December 31, 2020, respectively, at liquidation preference 218,318 218,318
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 75,186,127 and 71,293,117 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 752 713
Additional paid-in capital 1,156,378 1,050,714
Distributions in excess of earnings (259,155) (251,704)
Accumulated other comprehensive loss (31,642) (49,084)
Total shareholders' equity 1,084,651 968,957
Noncontrolling interests 496,969 461,518
Total equity 1,581,620 1,430,475
Total liabilities and equity $ 3,651,636 $ 3,513,577