Company: NSA-PB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048800
Chunk: 32

Company: National Storage Affiliates Trust
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 32
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$63,293 Property operating expenses(21,790)(19,471)Supervisory, administrative and other expenses(4,088)(4,150)Depreciation and amortization(20,771)(21,671)Interest expense(13,653)(13,650)Non-operating income (expense)430 (1,037)Net income$3,003 $3,314 Nine Months Ended September 30,20252024Total revenue$186,169 $180,105 Property operating expenses(65,615)(56,523)Supervisory, administrative and other expenses(12,116)(11,683)Depreciation and amortization(63,284)(60,441)Interest expense(41,033)(39,405)Non-operating income (expense)921 (192)Net income$5,042 $11,861 

 6. ACQUISITIONS AND DISPOSITIONS

AcquisitionsDuring the nine months ended September 30, 2025, the Company acquired four self storage properties and two annexes to existing properties for approximately $24.9 million. All of these acquisitions were acquired by the Company from third parties. The self storage property acquisitions were accounted for as asset acquisitions and accordingly, $0.2 million of transaction costs related to the acquisitions were capitalized as part of the basis of the acquired properties. The Company allocated the total purchase price of the acquired properties to the assets acquired and liabilities assumed based on their relative fair values. The Company allocated a portion of the purchase price to identifiable intangible assets consisting of customer in-place leases which were recorded at estimated fair values of $0.6 million resulting in a total fair value of $24.3 million allocated to real estate.The following table summarizes the investments in self storage property acquisitions completed by the Company during the nine months ended September 30, 2025 (dollars in thousands):Acquisitions closed during the Three Months Ended:Summary of Investment(1)Number of PropertiesCash and Acquisition CostsValue of EquityOtherTotalMarch 31, 20253 $12,434 $— $1,060 $13,494 June 30, 20251 11,328 — 48 11,376 September 30, 2025— — — — — Total4 $23,762 $— $1,108 $24,870 (1)Investment amounts