Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Real estate    
Self storage properties $ 6,579,167 $ 6,391,572
Less accumulated depreciation (877,707) (772,661)
Self storage properties, net 5,701,460 5,618,911
Cash and cash equivalents 44,022 35,312
Restricted cash 3,299 6,887
Debt issuance costs, net 9,607 1,393
Investment in unconsolidated real estate ventures 219,060 227,441
Other assets, net 160,618 156,228
Operating lease right-of-use assets 23,325 23,835
Total assets 6,161,391 6,070,007
Liabilities    
Debt financing 3,639,547 3,551,179
Accounts payable and accrued liabilities 87,007 80,377
Interest rate swap liabilities 0 483
Operating lease liabilities 25,314 25,741
Deferred revenue 25,122 23,213
Total liabilities 3,776,990 3,680,993
Commitments and contingencies (Note 11)
Equity    
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 88,649,794 and 89,842,145 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 886 898
Additional paid-in capital 1,692,741 1,777,984
Distributions in excess of earnings (445,813) (396,650)
Accumulated other comprehensive income 36,906 40,530
Total shareholders' equity 1,625,371 1,648,201
Noncontrolling interests 759,030 740,813
Total equity 2,384,401 2,389,014
Total liabilities and equity 6,161,391 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