Company: NSA-PB
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048800
Chunk: 106

Company: National Storage Affiliates Trust
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 106
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 condensed consolidated statements of cash flows for the nine months ended September 30, 2025 and 2024, are presented below (dollars in thousands):

Nine Months Ended September 30,20252024Recurring capital expenditures$15,657 $9,187 Value enhancing capital expenditures9,729 2,675 Acquisitions capital expenditures1,219 1,611 Total capital expenditures26,605 13,473 Change in accrued capital spending(2,577)(468)Capital expenditures per statement of cash flows$24,028 $13,005 

Financing Activities

Cash used in our financing activities was $299.4 million for the nine months ended September 30, 2025 compared to $763.1 million of cash used in financing activities for the nine months ended September 30, 2024. Our primary uses of financing cash flows for the nine months ended September 30, 2025 were for principal payments on existing debt of $532.3 million (which included $530.7 million of principal repayments under the Revolver and $1.6 million of scheduled fixed rate mortgage principal amortization payments), distributions to common shareholders of $131.0 million, distributions to noncontrolling interests of $100.8 million and distributions to preferred shareholders of $15.3 million. Our sources of financing cash flows for the nine months ended September 30, 2025 primarily consisted of $486.8 million of borrowings under our Revolver. 

Credit Facility and Term Loan Facilities

As of September 30, 2025, our credit facility provided for total borrowings of $1.355 billion, consisting of the following components: (i) a Revolver which provides for a total borrowing commitment up to $950.0 million, whereby we may borrow, repay and re-borrow amounts under the Revolver, (ii) a $275.0 million Term Loan D and (iii) a $130.0 million Term Loan E. The Revolver is set to mature in January 2027; provided that we may elect up to two times to extend the maturity by six months each up to January 2028 by paying an extension fee for each such election of 0.0625% of the total borrowing commitment thereunder at the time of extension and meeting other customary conditions with respect to compliance. The Term Loan D matures in July 2026 and the Term Loan E matures in March 2027. The Revolver, Term