| 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 June 30, 2021 and December 31, 2020 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2021 |
|
December 31, 2020 |
| ASSETS |
|
|
|
| Self storage properties, net |
$ |
1,769,759 |
|
|
$ |
1,799,522 |
|
| Other assets |
25,969 |
|
|
24,397 |
|
| Total assets |
$ |
1,795,728 |
|
|
$ |
1,823,919 |
|
| LIABILITIES AND EQUITY |
|
|
|
| Debt financing |
$ |
1,000,916 |
|
|
$ |
1,000,464 |
|
| Other liabilities |
20,951 |
|
|
21,612 |
|
| Equity |
773,861 |
|
|
801,843 |
|
| Total liabilities and equity |
$ |
1,795,728 |
|
|
$ |
1,823,919 |
|
|
|
|
|
The following tables present the combined condensed operating information of the Company's unconsolidated real estate ventures for the three and six months ended June 30, 2021 and 2020 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
2021 |
|
2020 |
| Total revenue |
$ |
46,086 |
|
|
$ |
39,730 |
|
| Property operating expenses |
12,523 |
|
|
11,371 |
|
| Net operating income |
33,563 |
|
|
28,359 |
|
| Supervisory, administrative and other expenses |
(3,014) |
|
|
(2,640) |
|
| Depreciation and amortization |
(15,360) |
|
|
(15,245) |
|
| Interest expense |
(10,415) |
|
|
(10,300) |
|
|
|
|
|
| Acquisition and other expenses |
(136) |
|
|
(20) |
|
| Net income |
$ |
4,638 |
|
|
$ |
154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
2021 |
|
2020 |
| Total revenue |
$ |
89,781 |
|
|
$ |
79,968 |
|
| Property operating expenses |
24,311 |
|
|
24,549 |
|
| Net operating income |
65,470 |
|
|
55,419 |
|
| Supervisory, administrative and other expenses |
(5,896) |
|
|
(5,309) |
|
| Depreciation and amortization |
(30,882) |
|
|
(30,391) |
|
| Interest expense |
(20,820) |
|
|
(20,564) |
|
|
|
|
|
| Acquisition and other expenses |
(257) |
|
|
(419) |
|
| Net income (loss) |
$ |
7,615 |
|
|
$ |
(1,264) |
|
|
|
|
|
|