|9 Months Ended|
Sep. 30, 2021
|Subsequent Events [Abstract]|
|SUBSEQUENT EVENTS||SUBSEQUENT EVENTS
Self Storage Property Acquisitions
Subsequent to September 30, 2021, the Company acquired 39 self storage properties for approximately $325.7 million. Consideration for these acquisitions included approximately $302.5 million of net cash, the assumption of approximately $2.6 million of other working capital liabilities and OP equity of approximately $20.6 million (consisting of the issuance of 297,934 OP units and 42,763 subordinated performance units).
Subsequent to September 30, 2021, the Company sold 125,000 of its common shares through the ATM program at an average offering price of $59.16 per share, resulting in net proceeds to the Company of approximately $7.4 million, after deducting compensation payable by the Company to such agents and offering expenses. The Company used the net proceeds for self storage property acquisitions and to repay borrowings outstanding under its Revolver.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef