Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 11

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 11
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ITEM 1. FINANCIAL STATEMENTS

NATIONAL STORAGE AFFILIATES TRUST 

CONDENSED CONSOLIDATED BALANCE SHEETS

 (dollars in thousands, except per share amounts)

(Unaudited)

June 30,December 31,20252024ASSETSReal estateSelf storage properties$5,826,852 $5,864,134 Less accumulated depreciation(1,131,235)(1,051,638)Self storage properties, net4,695,617 4,812,496 Cash and cash equivalents26,121 50,408 Restricted cash1,824 345 Debt issuance costs, net4,244 5,632 Investment in unconsolidated real estate ventures231,360 246,193 Other assets, net195,453 218,482 Assets held for sale, net6,000 — Operating lease right-of-use assets20,666 20,906 Total assets$5,181,285 $5,354,462 LIABILITIES AND EQUITYLiabilitiesDebt financing$3,402,659 $3,449,087 Accounts payable and accrued liabilities93,613 98,657 Interest rate swap liabilities4,041 471 Operating lease liabilities22,683 22,888 Deferred revenue20,607 20,012 Total liabilities3,543,603 3,591,115 Commitments and contingencies (Note 11)EquityPreferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 14,697,845 and 14,695,458 issued (in series) and outstanding at June 30, 2025 and December 31, 2024, respectively, at liquidation preference340,955 340,895 Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 76,558,740 and 76,344,661 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively765 763 Additional paid-in capital1,249,996 1,249,426 Distributions in excess of earnings(595,627)(530,652)Accumulated other comprehensive income5,993 15,548 Total shareholders' equity1,002,082 1,075,980 Noncontrolling