| 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, 2022 and December 31, 2021 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2022 |
|
December 31, 2021 |
| ASSETS |
|
|
|
| Self storage properties, net |
$ |
1,916,189 |
|
|
$ |
1,741,538 |
|
| Other assets |
37,770 |
|
|
23,562 |
|
| Total assets |
$ |
1,953,959 |
|
|
$ |
1,765,100 |
|
| LIABILITIES AND EQUITY |
|
|
|
| Debt financing |
$ |
1,001,839 |
|
|
$ |
1,001,378 |
|
| Other liabilities |
23,553 |
|
|
19,493 |
|
| Equity |
928,567 |
|
|
744,229 |
|
| Total liabilities and equity |
$ |
1,953,959 |
|
|
$ |
1,765,100 |
|
|
|
|
|
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, 2022 and 2021 (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
2022 |
|
2021 |
| Total revenue |
$ |
53,601 |
|
|
$ |
46,086 |
|
| Property operating expenses |
14,335 |
|
|
12,523 |
|
| Net operating income |
39,266 |
|
|
33,563 |
|
| Supervisory, administrative and other expenses |
(3,540) |
|
|
(3,014) |
|
| Depreciation and amortization |
(17,298) |
|
|
(15,360) |
|
| Interest expense |
(10,416) |
|
|
(10,415) |
|
|
|
|
|
| Acquisition and other expenses |
(233) |
|
|
(136) |
|
| Net income |
$ |
7,779 |
|
|
$ |
4,638 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
2022 |
|
2021 |
| Total revenue |
$ |
102,599 |
|
|
$ |
89,781 |
|
| Property operating expenses |
28,144 |
|
|
24,311 |
|
| Net operating income |
74,455 |
|
|
65,470 |
|
| Supervisory, administrative and other expenses |
(6,742) |
|
|
(5,896) |
|
| Depreciation and amortization |
(32,680) |
|
|
(30,882) |
|
| Interest expense |
(20,826) |
|
|
(20,820) |
|
|
|
|
|
| Acquisition and other expenses |
(507) |
|
|
(257) |
|
| Net income |
$ |
13,700 |
|
|
$ |
7,615 |
|
|
|
|
|
|