Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Real estate    
Self storage properties $ 2,832,745 $ 2,637,723
Less accumulated depreciation (267,796) (246,261)
Self storage properties, net 2,564,949 2,391,462
Cash and cash equivalents 15,878 13,181
Restricted cash 3,545 3,182
Debt issuance costs, net 1,017 1,260
Investment in unconsolidated real estate ventures 238,606 245,125
Other assets, net 48,926 75,053
Operating lease right-of-use assets 23,110 0
Total assets 2,896,031 2,729,263
Liabilities    
Debt financing 1,414,926 1,278,102
Accounts payable and accrued liabilities 37,682 33,130
Operating lease liabilities 24,166 0
Deferred revenue 16,069 15,732
Total liabilities 1,492,843 1,326,964
Commitments and contingencies (Note 11)
Equity    
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 6,900,000 issued and outstanding at March 31, 2019 and December 31, 2018, at liquidation preference 172,500 172,500
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 shares authorized, 56,698,686 and 56,654,009 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 567 567
Additional paid-in capital 839,162 844,276
Distributions in excess of earnings (126,309) (114,122)
Accumulated other comprehensive income 7,526 13,618
Total shareholders' equity 893,446 916,839
Noncontrolling interests 509,742 485,460
Total equity 1,403,188 1,402,299
Total liabilities and equity $ 2,896,031 $ 2,729,263