Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 44

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 44
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 income taxes to our net operating income for the three and six months ended June 30, 2025 and 2024 (dollars in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Income before income taxes$31,078 $32,821 $51,717 $128,795 All OtherManagement fees and other revenue(12,230)(9,522)(24,365)(18,596)General and administrative expenses12,804 16,189 25,949 31,863 Depreciation and amortization47,612 46,710 95,728 94,041 Other4,500 3,375 8,976 6,867 Interest expense41,269 37,228 81,744 75,345 Equity in losses of unconsolidated real estate ventures3,945 4,449 9,684 6,079 Acquisition and integration costs2,040 480 4,485 987 Non-operating income(462)(337)(822)(435)Gain on sale of self storage properties(9,571)(2,668)(10,996)(63,841)Net operating income$120,985 $128,725 $242,100 $261,105 

14. SUBSEQUENT EVENTS

2023 Joint Venture AcquisitionOn July 22, 2025, the 2023 Joint Venture acquired one property located in Tennessee for approximately $21.8 million. The 2023 Joint Venture financed the acquisition with capital contributions from the 2023 JV Members, of which the Company contributed approximately $5.4 million. Disposition of Self Storage Properties

On July 22, 2025, the Company sold two self storage properties which were classified as held for sale as of June 30, 2025, to an unaffiliated third party for net proceeds of approximately $6.0 million. 

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ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

We make forward-looking statements in this report that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "int