Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 33

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 33
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,328 — 48 11,376 Total4 $23,762 $— $1,108 $24,870 (1)Investment amounts include investments classified as annexes to existing properties. DispositionsDuring the six months ended June 30, 2025, the Company sold ten self storage properties to third parties for net proceeds of approximately $67.1 million. The Company recorded a net gain on the dispositions of approximately $11.0 million.

19

Assets Held for SaleAs of June 30, 2025, the Company classified as held for sale two self storage properties that were sold to a third party in July 2025.

7. OTHER ASSETS

Other assets consist of the following (dollars in thousands):June 30, 2025December 31, 2024Customer in-place leases, net of accumulated amortization of $675 and $380, respectively $840 $1,058 Receivables:Trade, net8,243 8,689 Tenant insurance, former PROs and other9,532 10,169 Receivable from unconsolidated real estate ventures4,104 8,057 Property acquisition deposits320 198 Interest rate swaps9,164 22,596 Prepaid expenses and other10,749 11,392 Corporate furniture, equipment and other, net2,650 2,916 Trade names12,256 12,256 Management contracts, net of accumulated amortization of $10,849 and $9,117, respectively41,116 42,848 Tenant reinsurance intangible assets, net of accumulated amortization of $8,088 and $6,264, respectively88,297 90,121 Goodwill8,182 8,182 Total$195,453 $218,482 Amortization expense related to customer in-place leases amounted to $0.5 million and $0.4 million for the three months ended June 30, 2025 and 2024, respectively and $0.9 million and $1.4 million for the six months ended June 30, 2025 and 2024, respectively. Amortization expense related to management contracts amounted to $0.9 million and $0.4 million for the three months ended June 30, 2025 and 2024, respectively and $2.3 million and $0.7 million