| 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, 2022 and December 31, 2021 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
December 31, 2021 |
| ASSETS |
|
|
|
| Self storage properties, net |
$ |
1,906,941 |
|
|
$ |
1,741,538 |
|
| Other assets |
44,033 |
|
|
23,562 |
|
| Total assets |
$ |
1,950,974 |
|
|
$ |
1,765,100 |
|
| LIABILITIES AND EQUITY |
|
|
|
| Debt financing |
$ |
1,002,070 |
|
|
$ |
1,001,378 |
|
| Other liabilities |
29,853 |
|
|
19,493 |
|
| Equity |
919,051 |
|
|
744,229 |
|
| Total liabilities and equity |
$ |
1,950,974 |
|
|
$ |
1,765,100 |
|
|
|
|
|
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, 2022 and 2021 (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
2022 |
|
2021 |
| Total revenue |
$ |
55,262 |
|
|
$ |
49,234 |
|
| Property operating expenses |
14,773 |
|
|
13,470 |
|
| Net operating income |
40,489 |
|
|
35,764 |
|
| Supervisory, administrative and other expenses |
(3,635) |
|
|
(3,210) |
|
| Depreciation and amortization |
(17,764) |
|
|
(15,368) |
|
| Interest expense |
(10,415) |
|
|
(10,420) |
|
|
|
|
|
| Acquisition and other expenses |
(204) |
|
|
(92) |
|
| Net income |
$ |
8,471 |
|
|
$ |
6,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2022 |
|
2021 |
| Total revenue |
$ |
157,861 |
|
|
$ |
139,015 |
|
| Property operating expenses |
42,917 |
|
|
37,781 |
|
| Net operating income |
114,944 |
|
|
101,234 |
|
| Supervisory, administrative and other expenses |
(10,377) |
|
|
(9,106) |
|
| Depreciation and amortization |
(50,444) |
|
|
(46,250) |
|
| Interest expense |
(31,241) |
|
|
(31,240) |
|
|
|
|
|
| Acquisition and other expenses |
(711) |
|
|
(349) |
|
| Net income |
$ |
22,171 |
|
|
$ |
14,289 |
|
|
|
|
|
|