Company: NSA-PB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048800
Chunk: 74

Company: National Storage Affiliates Trust
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 74
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 in a private placement to certain institutional investors.

September 2028, September 2031 and 2034 Senior Unsecured Notes

On September 5, 2024, our operating partnership issued $75.0 million of 5.40% senior unsecured notes due September 5, 2028, $125.0 million of 5.55% senior unsecured notes due September 5, 2031, and $150.0 million of 5.74% senior unsecured notes due September 5, 2034 in a private placement to certain institutional investors.

Equity Transactions

Issuance of Common Shares

During the nine months ended September 30, 2025, after receiving notices of redemption from certain OP unitholders, we elected to issue 586,068 common shares to such holders in exchange for 586,068 OP units in satisfaction of the operating partnership's redemption obligations.

Issuance and Redemption of OP Equity

During the nine months ended September 30, 2025, we issued 144,238 OP units upon the conversion of an equivalent number of LTIP units, redeemed 100,960 OP units for cash, and redeemed 9,387 Series A-1 preferred units for an equivalent number of Series A Preferred Shares. 

Dividends and Distributions

During the nine months ended September 30, 2025, the Company paid $131.0 million of distributions to common shareholders, $15.3 million of distributions to preferred shareholders and distributed $100.8 million to noncontrolling interests.

On August 13, 2025, our board of trustees declared a cash dividend and distribution, respectively, of $0.57 per common share and OP unit to shareholders and OP unitholders of record as of September 15, 2025. On August 13, 2025, our board of trustees also declared cash distributions of $0.375 per Series A Preferred Share, Series B Preferred Share and Series A-1 preferred unit to shareholders and unitholders of record as of September 15, 2025.

Off-Balance Sheet Arrangements

Except as disclosed in the notes to our financial statements, as of September 30, 2025, we did not have any relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purposes entities, which typically are established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.