Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 41,843 $ 33,983
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 66,226 54,946
Amortization of debt issuance costs 1,883 1,613
Amortization of debt discount and premium, net (1,110) (1,181)
Gain on sale of self storage properties (391) (5,743)
Equity-based compensation expense 2,808 2,844
Equity in (earnings) losses of unconsolidated real estate ventures (290) 2,260
Distributions from unconsolidated real estate ventures 4,256 3,766
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (3,456) (1,320)
Accounts payable and accrued liabilities 10,369 4,444
Deferred revenue 1,525 (740)
Net Cash Provided by Operating Activities 123,663 94,872
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (264,367) (209,680)
Capital expenditures (14,476) (10,011)
Investments in and advances to unconsolidated real estate ventures (165,642) (12,647)
Distributions from unconsolidated real estate ventures 0 250
Deposits and advances for self storage property and other acquisitions (21,174) (2,273)
Expenditures for corporate furniture, equipment and other (136) (294)
Proceeds from sale of self storage properties 5,259 17,529
Net Cash Used In Investing Activities (460,536) (217,126)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares 175,691 0
Proceeds from issuance of subordinated performance units 0 7,000
Borrowings under debt financings 652,500 540,400
Receipts for OP unit subscriptions 606 848
Principal payments under debt financings (386,995) (344,915)
Payment of dividends to common shareholders (45,156) (33,591)
Distributions to preferred shareholders (7,763) 0
Distributions to noncontrolling interests (46,487) (41,825)
Debt issuance costs (1,863) (2,037)
Equity offering costs (318) (607)
Net Cash Provided By Financing Activities 340,215 125,273
Increase in Cash, Cash Equivalents and Restricted Cash 3,342 3,019
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 16,407 15,337
End of period 19,749 18,356
Supplemental Cash Flow Information    
Cash paid for interest $ 29,402 $ 23,775