Company: NSA-PB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048800
Chunk: 9

Company: National Storage Affiliates Trust
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 9
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ITEM 1. FINANCIAL STATEMENTS

NATIONAL STORAGE AFFILIATES TRUST 

CONDENSED CONSOLIDATED BALANCE SHEETS

 (dollars in thousands, except per share amounts)

(Unaudited)

September 30,December 31,20252024ASSETSReal estateSelf storage properties$5,841,786 $5,864,134 Less accumulated depreciation(1,175,690)(1,051,638)Self storage properties, net4,666,096 4,812,496 Cash and cash equivalents26,295 50,408 Restricted cash1,571 345 Debt issuance costs, net3,533 5,632 Investment in unconsolidated real estate ventures235,385 246,193 Other assets, net189,055 218,482 Operating lease right-of-use assets20,367 20,906 Total assets$5,142,302 $5,354,462 LIABILITIES AND EQUITYLiabilitiesDebt financing$3,403,399 $3,449,087 Accounts payable and accrued liabilities109,632 98,657 Interest rate swap liabilities4,481 471 Operating lease liabilities22,394 22,888 Deferred revenue20,355 20,012 Total liabilities3,560,261 3,591,115 Commitments and contingencies (Note 11)EquityPreferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 14,704,845 and 14,695,458 issued (in series) and outstanding at September 30, 2025 and December 31, 2024, respectively, at liquidation preference341,130 340,895 Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 76,940,983 and 76,344,661 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively769 763 Additional paid-in capital1,252,488 1,249,426 Distributions in excess of earnings(626,122)(530,652)Accumulated other comprehensive income4,860 15,548 Total shareholders' equity973,125 1,075,980 Noncontrolling interests608,916 687,367 Total equity1,582