| Schedule of condensed financial information of joint ventures |
The following table presents the condensed financial position of the unconsolidated real estate venture as of June 30, 2017 and December 31, 2016 (in thousands):
|
|
|
|
|
|
|
|
|
|
June 30, 2017 |
|
December 31, 2016 |
ASSETS |
|
|
|
Self storage properties, net |
$ |
655,233 |
|
|
$ |
614,754 |
|
Other assets |
14,141 |
|
|
19,936 |
|
Total assets |
$ |
669,374 |
|
|
$ |
634,690 |
|
LIABILITIES AND EQUITY |
|
|
|
Debt financing |
$ |
317,192 |
|
|
$ |
317,047 |
|
Other liabilities |
5,764 |
|
|
4,498 |
|
Equity |
346,418 |
|
|
313,145 |
|
Total liabilities and equity |
$ |
669,374 |
|
|
$ |
634,690 |
|
|
|
|
|
The following table presents the condensed operating information of the unconsolidated real estate venture for the three and six months ended June 30, 2017 (in thousands):
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2017 |
|
Six Months Ended
June 30, 2017 |
Total revenue |
$ |
13,059 |
|
|
$ |
25,566 |
|
Property operating expenses |
4,432 |
|
|
8,500 |
|
Net operating income |
8,627 |
|
|
17,066 |
|
Supervisory, administrative and other expenses |
(941 |
) |
|
(1,839 |
) |
Depreciation and amortization |
(7,676 |
) |
|
(15,165 |
) |
Interest expense |
(2,802 |
) |
|
(5,628 |
) |
Acquisition and other expenses |
(267 |
) |
|
(633 |
) |
Net loss |
$ |
(3,059 |
) |
|
$ |
(6,199 |
) |
|
|
|
|
|