Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate    
Self storage properties $ 5,892,406 $ 5,798,188
Less accumulated depreciation (624,368) (578,717)
Self storage properties, net 5,268,038 5,219,471
Cash and cash equivalents 26,616 25,013
Restricted cash 2,531 2,862
Debt issuance costs, net 2,121 2,433
Investment in unconsolidated real estate ventures 184,547 188,187
Other assets, net 115,607 102,417
Operating lease right-of-use assets 21,951 22,211
Total assets 5,621,411 5,562,594
Liabilities    
Debt financing 2,999,751 2,940,931
Accounts payable and accrued liabilities 60,678 59,262
Interest rate swap liabilities 3,821 33,757
Operating lease liabilities 23,751 23,981
Deferred revenue 23,366 22,208
Total liabilities 3,111,367 3,080,139
Commitments and contingencies (Note 11)
Equity    
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 8,744,935 and 8,736,719 issued and outstanding at March 31, 2022 and December 31, 2021, respectively, at liquidation preference 218,623 218,418
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 91,461,720 and 91,198,929 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 915 912
Additional paid-in capital 1,830,732 1,866,773
Distributions in excess of earnings (315,024) (291,263)
Accumulated other comprehensive income (loss) 11,734 (19,611)
Total shareholders' equity 1,746,980 1,775,229
Noncontrolling interests 763,064 707,226
Total equity 2,510,044 2,482,455
Total liabilities and equity $ 5,621,411 $ 5,562,594