Annual report pursuant to Section 13 and 15(d)

INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables)

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INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables)
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
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 December 31, 2023 and December 31, 2022 (dollars in thousands):
December 31,
2023 2022
ASSETS
Self storage properties, net 1,831,110  1,891,203 
Other assets 37,826  36,873 
Total assets $ 1,868,936  $ 1,928,076 
LIABILITIES AND EQUITY
Debt financing 1,003,223  1,002,301 
Other liabilities 28,333  23,808 
Equity 837,380  901,967 
Total liabilities and equity $ 1,868,936  $ 1,928,076 
The following table presents the combined condensed operating information of the Company's unconsolidated real estate ventures for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands):
Year Ended December 31,
2023 2022 2021
Total revenue $ 214,292  $ 212,832  $ 187,861 
Property operating expenses (59,740) (57,306) (50,829)
Supervisory, administrative and other expenses
 (14,146) (13,955) (12,288)
Depreciation and amortization (68,333) (68,289) (61,628)
Interest expense (41,665) (41,657) (41,658)
Acquisition and other expenses (459) (899) (511)
Net income $ 29,949  $ 30,726  $ 20,947