| 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, 2023 and December 31, 2022 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2023 |
|
December 31, 2022 |
| ASSETS |
|
|
|
| Self storage properties, net |
$ |
1,860,305 |
|
|
$ |
1,891,203 |
|
| Other assets |
38,464 |
|
|
36,873 |
|
| Total assets |
$ |
1,898,769 |
|
|
$ |
1,928,076 |
|
| LIABILITIES AND EQUITY |
|
|
|
| Debt financing |
$ |
1,002,762 |
|
|
$ |
1,002,301 |
|
| Other liabilities |
27,697 |
|
|
23,808 |
|
| Equity |
868,310 |
|
|
901,967 |
|
| Total liabilities and equity |
$ |
1,898,769 |
|
|
$ |
1,928,076 |
|
|
|
|
|
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, 2023 and 2022 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
2023 |
|
2022 |
| Total revenue |
$ |
53,685 |
|
|
$ |
53,601 |
|
| Property operating expenses |
15,113 |
|
|
14,335 |
|
| Net operating income |
38,572 |
|
|
39,266 |
|
| Supervisory, administrative and other expenses |
(3,561) |
|
|
(3,540) |
|
| Depreciation and amortization |
(17,260) |
|
|
(17,298) |
|
| Interest expense |
(10,419) |
|
|
(10,416) |
|
|
|
|
|
| Acquisition and other income (expenses) |
45 |
|
|
(233) |
|
| Net income |
$ |
7,377 |
|
|
$ |
7,779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
2023 |
|
2022 |
| Total revenue |
$ |
107,437 |
|
|
$ |
102,599 |
|
| Property operating expenses |
30,162 |
|
|
28,144 |
|
| Net operating income |
77,275 |
|
|
74,455 |
|
| Supervisory, administrative and other expenses |
(7,090) |
|
|
(6,742) |
|
| Depreciation and amortization |
(35,143) |
|
|
(32,680) |
|
| Interest expense |
(20,830) |
|
|
(20,826) |
|
|
|
|
|
| Acquisition and other expenses |
(187) |
|
|
(507) |
|
| Net income |
$ |
14,025 |
|
|
$ |
13,700 |
|
|
|
|
|
|