Company: NSA-PB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022674
Chunk: 28

Company: National Storage Affiliates Trust
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 28
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 $0.1 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 $0.3 million resulting in a total fair value of $13.2 million allocated to real estate.The following table summarizes the investments in self storage property acquisitions completed by the Company during the three months ended March 31, 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 (1)Investment amounts include investments classified as annexes to existing properties. Dispositions

During the three months ended March 31, 2025, the Company sold two self storage properties to third parties for net proceeds of approximately $9.8 million. The Company recorded a net gain on the dispositions of $1.4 million.

7. OTHER ASSETS

Other assets consist of the following (dollars in thousands):March 31, 2025December 31, 2024Customer in-place leases, net of accumulated amortization of $777 and $380, respectively $995 $1,058 Receivables:Trade, net6,835 8,689 Tenant insurance, former PROs and other8,564 10,169 Receivable from unconsolidated real estate ventures4,853 8,057 Property acquisition deposits369 198 Interest rate swaps12,249 22,596 Prepaid expenses and other7,859 11,392 Corporate furniture, equipment and other, net2,726 2,916 Trade names12,256 12,256 Management contracts, net of accumulated amortization of $9,983 and $9,117, respectively41,982 42,848 Tenant reinsurance intangible assets, net of accumulated amortization of $7,176 and $6,264, respectively89,209 90,121 Goodwill8,182 8,182 Total$196,079 $218,482 Amortization expense related to customer in-place leases amounted