Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Real estate    
Self storage properties $ 6,556,603 $ 6,391,572
Less accumulated depreciation (824,647) (772,661)
Self storage properties, net 5,731,956 5,618,911
Cash and cash equivalents 44,330 35,312
Restricted cash 7,506 6,887
Debt issuance costs, net 10,247 1,393
Investment in unconsolidated real estate ventures 223,139 227,441
Other assets, net 144,666 156,228
Operating lease right-of-use assets 23,581 23,835
Total assets 6,185,425 6,070,007
Liabilities    
Debt financing 3,643,585 3,551,179
Accounts payable and accrued liabilities 78,603 80,377
Interest rate swap liabilities 7,983 483
Operating lease liabilities 25,528 25,741
Deferred revenue 24,652 23,213
Total liabilities 3,780,351 3,680,993
Commitments and contingencies (Note 11)
Equity    
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 88,296,142 and 89,842,145 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 883 898
Additional paid-in capital 1,689,136 1,777,984
Distributions in excess of earnings (420,408) (396,650)
Accumulated other comprehensive income 25,153 40,530
Total shareholders' equity 1,635,415 1,648,201
Noncontrolling interests 769,659 740,813
Total equity 2,405,074 2,389,014
Total liabilities and equity 6,185,425 6,070,007
Series A Preferred Shares    
Equity    
Series A and B Preferred shares of beneficial interest, shares authorized, issued and outstanding at liquidation preference 225,439 225,439
Series B Preferred Shares    
Equity    
Series A and B Preferred shares of beneficial interest, shares authorized, issued and outstanding at liquidation preference $ 115,212 $ 0