Company: NSA-PB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022674
Chunk: 83

Company: National Storage Affiliates Trust
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 83
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$5,272 $2,771 Value enhancing capital expenditures— 1,825 Acquisitions capital expenditures199 903 Total capital expenditures5,471 5,499 Change in accrued capital spending260 (125)Capital expenditures per statement of cash flows$5,731 $5,374 

Financing Activities

Cash used in our financing activities was $106.5 million for the three months ended March 31, 2025 compared to $660.0 million of cash used in financing activities for the three months ended March 31, 2024. Our primary uses of financing cash flows for the three months ended March 31, 2025 were for principal payments on existing debt of $157.0 million (which included $156.5 million of principal repayments under the Revolver and $0.5 million of scheduled fixed rate mortgage principal amortization payments), distributions to common shareholders of $43.6 million, distributions to noncontrolling interests of $33.7 million and distributions to preferred shareholders of $5.1 million. Our sources of financing cash flows for the three months ended March 31, 2025 primarily consisted of $134.0 million of borrowings under our Revolver. 

Credit Facility and Term Loan Facilities

As of March 31, 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 Loan D and Term Loan E are not subject to any scheduled reduction or amortization payments prior to maturity. As of March 31, 2025, we had an expansion option under the credit facility, which, if exercised in full, would provide for a total borrowing