Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Real estate    
Self storage properties $ 1,147,201 $ 838,941
Less accumulated depreciation (68,100) (39,614)
Self storage properties, net 1,079,101 799,327
Cash and cash equivalents 6,665 9,009
Restricted cash 2,712 2,120
Debt issuance costs, net 4,740 6,346
Other assets, net 8,648 15,944
Total assets 1,101,866 832,746
Liabilities    
Debt financing 570,612 597,691
Accounts payable and accrued liabilities 9,694 10,012
Distributions payable 0 6,763
Deferred revenue 5,513 4,176
Total liabilities $ 585,819 $ 618,642
Commitments and contingencies (Note 12)
Equity    
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 and 1,000 shares authorized, 23,015,751 and 1,000 shares issued and outstanding at December 31, 2015 and 2014, respectively $ 230 $ 0
Additional paid-in capital 236,392 0
Retained earnings 11 0
Accumulated other comprehensive loss 0 0
Total shareholders' equity 236,633 0
Noncontrolling interests 279,414 214,104
Total equity 516,047 214,104
Total liabilities and equity $ 1,101,866 $ 832,746