Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 31

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 31
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 acquired one self storage property, consisting of approximately 55,000 rentable square feet configured in approximately 600 storage units for approximately $18.0 million. The 2023 Joint Venture financed the acquisition with capital contributions from the 2023 JV Members, of which the Company contributed approximately $4.5 million.As of June 30, 2025, the 2023 Joint Venture owned and operated 19 self storage properties containing approximately 1.3 million rentable square feet, configured in approximately 8,000 storage units and located across three states.2018 Joint VentureAs of June 30, 2025, the Company's unconsolidated real estate venture, formed in September 2018 with an affiliate of Heitman America Real Estate REIT LLC (the "2018 Joint Venture"), in which the Company has a 25% ownership interest, owned and operated 104 self storage properties containing approximately 7.9 million rentable square feet, configured in approximately 65,000 storage units and located across 17 states.2016 Joint VentureAs of June 30, 2025, the Company's unconsolidated real estate venture, formed in September 2016 with a state pension fund advised by Heitman Capital Management LLC (the "2016 Joint Venture"), in which the Company has a 25% ownership interest, owned and operated 81 properties containing approximately 5.7 million rentable square feet, configured in approximately 47,000 storage units and located across 13 states.The following table presents the combined condensed financial position of the Company's unconsolidated real estate ventures as of June 30, 2025 and December 31, 2024 (dollars in thousands):June 30, 2025December 31, 2024ASSETSSelf storage properties$2,722,906 $2,700,632 Less accumulated depreciation(485,283)(445,006)Self storage properties, net2,237,623 2,255,626 Other assets36,406 43,513 Total assets$2,274,029 $2,299,139 LIABILITIES AND EQUITYDebt financing$1,213,748 $1,213,169 Other liabilities32,547 37,206 Equity1,027,734 1,048,764 Total liabilities and equity$2,274,029 $2,299,139