| 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, 2021 and December 31, 2020 (in thousands):
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|
September 30, 2021 |
|
December 31, 2020 |
| ASSETS |
|
|
|
| Self storage properties, net |
$ |
1,755,082 |
|
|
$ |
1,799,522 |
|
| Other assets |
27,805 |
|
|
24,397 |
|
| Total assets |
$ |
1,782,887 |
|
|
$ |
1,823,919 |
|
| LIABILITIES AND EQUITY |
|
|
|
| Debt financing |
$ |
1,001,148 |
|
|
$ |
1,000,464 |
|
| Other liabilities |
22,145 |
|
|
21,612 |
|
| Equity |
759,594 |
|
|
801,843 |
|
| Total liabilities and equity |
$ |
1,782,887 |
|
|
$ |
1,823,919 |
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|
|
|
|
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, 2021 and 2020 (in thousands):
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Three Months Ended September 30, |
|
2021 |
|
2020 |
| Total revenue |
$ |
49,234 |
|
|
$ |
41,878 |
|
| Property operating expenses |
13,470 |
|
|
13,005 |
|
| Net operating income |
35,764 |
|
|
28,873 |
|
| Supervisory, administrative and other expenses |
(3,210) |
|
|
(2,780) |
|
| Depreciation and amortization |
(15,368) |
|
|
(15,320) |
|
| Interest expense |
(10,420) |
|
|
(10,303) |
|
|
|
|
|
| Acquisition and other expenses |
(92) |
|
|
(381) |
|
| Net income |
$ |
6,674 |
|
|
$ |
89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
| Total revenue |
$ |
139,015 |
|
|
$ |
121,846 |
|
| Property operating expenses |
37,781 |
|
|
37,554 |
|
| Net operating income |
101,234 |
|
|
84,292 |
|
| Supervisory, administrative and other expenses |
(9,106) |
|
|
(8,089) |
|
| Depreciation and amortization |
(46,250) |
|
|
(45,711) |
|
| Interest expense |
(31,240) |
|
|
(30,867) |
|
|
|
|
|
| Acquisition and other expenses |
(349) |
|
|
(800) |
|
| Net income (loss) |
$ |
14,289 |
|
|
$ |
(1,175) |
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|
|
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|