CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (2,771)us-gaap_ProfitLoss | $ (2,803)us-gaap_ProfitLoss |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 9,877nsa_DeprecationDepletionandAmortizationExcludingFinancingCostsandDiscounts | 3,837nsa_DeprecationDepletionandAmortizationExcludingFinancingCostsandDiscounts |
Amortization of debt issuance costs | 990us-gaap_AmortizationOfFinancingCosts | 407us-gaap_AmortizationOfFinancingCosts |
Amortization of debt discount and premium, net | (353)us-gaap_AmortizationOfDebtDiscountPremium | 912us-gaap_AmortizationOfDebtDiscountPremium |
Unrealized loss on fair value of derivatives | 126us-gaap_UnrealizedGainLossOnDerivatives | 6us-gaap_UnrealizedGainLossOnDerivatives |
LTIP units issued for acquisition expenses | 366us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims | 0us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims |
Equity-based compensation expense | 638us-gaap_ShareBasedCompensation | 342us-gaap_ShareBasedCompensation |
Change in assets and liabilities, net of effects of business combinations: | ||
Restricted cash | (100)us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities | (488)us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities |
Other assets | (559)us-gaap_IncreaseDecreaseInOtherOperatingAssets | (527)us-gaap_IncreaseDecreaseInOtherOperatingAssets |
Accounts payable and accrued liabilities | 1,147us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 100us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
Deferred revenue | 287us-gaap_IncreaseDecreaseInDeferredRevenue | 160us-gaap_IncreaseDecreaseInDeferredRevenue |
Net Cash Provided by Operating Activities | 9,648us-gaap_NetCashProvidedByUsedInOperatingActivities | 1,946us-gaap_NetCashProvidedByUsedInOperatingActivities |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Acquisition of self storage properties | (6,991)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (1,850)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
Capital expenditures | (1,020)us-gaap_PaymentsForCapitalImprovements | (464)us-gaap_PaymentsForCapitalImprovements |
Notes receivable from PROs | 0us-gaap_OriginationOfNotesReceivableFromRelatedParties | (4,831)us-gaap_OriginationOfNotesReceivableFromRelatedParties |
Deposits and advances for self storage property acquisitions | (381)us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions | 0us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions |
Expenditures for corporate furniture and equipment | (33)us-gaap_PaymentsToAcquireFurnitureAndFixtures | (24)us-gaap_PaymentsToAcquireFurnitureAndFixtures |
Increase in restricted cash designated for capital expenditures | (24)us-gaap_IncreaseInRestrictedCash | (107)us-gaap_IncreaseInRestrictedCash |
Net Cash Used in Investing Activities | (8,449)us-gaap_NetCashProvidedByUsedInInvestingActivities | (7,276)us-gaap_NetCashProvidedByUsedInInvestingActivities |
Proceeds from: | ||
Borrowings under debt financings | 21,000us-gaap_ProceedsFromIssuanceOfLongTermDebt | 5,000us-gaap_ProceedsFromIssuanceOfLongTermDebt |
Issuance of OP units | 0us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits | 431us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits |
OP unit subscriptions | 500us-gaap_ProceedsFromPartnershipContribution | 0us-gaap_ProceedsFromPartnershipContribution |
Collection of receivables from issuance of OP equity | 372us-gaap_ProceedsFromContributedCapital | 0us-gaap_ProceedsFromContributedCapital |
Principal payments under debt financings | (16,489)us-gaap_RepaymentsOfLongTermDebt | (501)us-gaap_RepaymentsOfLongTermDebt |
Distributions to partners of OP | (6,288)us-gaap_DistributionMadeToLimitedPartnerCashDistributionsPaid | (1,648)us-gaap_DistributionMadeToLimitedPartnerCashDistributionsPaid |
NSA Predecessor distributions and other | 0us-gaap_PaymentsOfDistributionsToAffiliates | (429)us-gaap_PaymentsOfDistributionsToAffiliates |
Payments for: | ||
Debt issuance costs | (584)us-gaap_PaymentsOfDebtIssuanceCosts | (131)us-gaap_PaymentsOfDebtIssuanceCosts |
Deferred offering costs | (391)us-gaap_PaymentsOfStockIssuanceCosts | (64)us-gaap_PaymentsOfStockIssuanceCosts |
Net Cash (Used In) Provided by Financing Activities | (1,880)us-gaap_NetCashProvidedByUsedInFinancingActivities | 2,658us-gaap_NetCashProvidedByUsedInFinancingActivities |
Decrease in Cash and Cash Equivalents | (681)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (2,672)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
CASH AND CASH EQUIVALENTS | ||
Beginning of period | 9,009us-gaap_CashAndCashEquivalentsAtCarryingValue | 11,196us-gaap_CashAndCashEquivalentsAtCarryingValue |
End of period | 8,328us-gaap_CashAndCashEquivalentsAtCarryingValue | 8,524us-gaap_CashAndCashEquivalentsAtCarryingValue |
Supplemental Cash Flow Information | ||
Cash paid for interest | 6,241us-gaap_InterestPaidNet | 4,492us-gaap_InterestPaidNet |
Consideration exchanged in business combinations: | ||
Issuance of OP units and subordinated performance units | 8,954nsa_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationUnitsIssuedValue | 0nsa_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationUnitsIssuedValue |
Assumption of mortgages payable | 16,442us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1 | 0us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1 |
Note payable to related party to settle assumed mortgages | 4,054nsa_NoncashOrPartNoncashAcquisitionNotesPayableToRelatedParty | 0nsa_NoncashOrPartNoncashAcquisitionNotesPayableToRelatedParty |
Other net liabilities assumed | 70us-gaap_NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1 | 5us-gaap_NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1 |
Notes receivable settled upon acquisition of properties | 1,778nsa_NoncashOrPartNoncashAcquisitionNoteReceivableSettledUponPropertyAcquisition | 50nsa_NoncashOrPartNoncashAcquisitionNoteReceivableSettledUponPropertyAcquisition |
Fair value of noncontrolling interests in acquired subsidiaries | 6,770nsa_NoncashOrPartNoncashAcquisitionNoncontrollingInterestAcquiredInSubsidiariesFairValue | 0nsa_NoncashOrPartNoncashAcquisitionNoncontrollingInterestAcquiredInSubsidiariesFairValue |
Issuance of OP units for settlement of subscription liability | 0nsa_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationOptionsIssuedInSettlementofLiability | 5,863nsa_NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationOptionsIssuedInSettlementofLiability |
Settlement of acquisition receivables from distributions | 141nsa_NoncashOrPartNoncashAcquisitionSettlementOfReceivablesWithPartners | 0nsa_NoncashOrPartNoncashAcquisitionSettlementOfReceivablesWithPartners |
Increase in lender participation liability and related discount | $ 0nsa_IncreaseInLenderLiabilitiesAndRelatedDiscounts | $ 770nsa_IncreaseInLenderLiabilitiesAndRelatedDiscounts |
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Deprecation, Depletion and Amortization, Excluding Financing Costs and Discounts No definition available.
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Increase In Lender Liabilities And Related Discounts No definition available.
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Noncash Or Part Noncash Acquisition, Noncash Financial Or Equity Instrument Consideration, Options Issued In Settlement of Liability No definition available.
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Noncash Or Part Noncash Acquisition, Noncash Financial Or Equity Instrument Consideration, Units Issued, Value No definition available.
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Noncash Or Part Noncash Acquisition, Noncontrolling Interest Acquired In Subsidiaries, Fair Value No definition available.
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Noncash Or Part Noncash Acquisition, Note Receivable Settled Upon Property Acquisition No definition available.
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Noncash Or Part Noncash Acquisition, Notes Payable To Related Party No definition available.
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Noncash Or Part Noncash Acquisition, Settlement Of Receivables With Partners No definition available.
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- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash distribution paid to unit-holder of limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash outflow associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. No definition available.
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- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of debt that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of liabilities that an entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition that are not presented as a separate disclosure or otherwise listed in the existing taxonomy. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for a loan, supported by a promissory note, granted to related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net cash outflow or inflow from the amount given in advance to show intention to complete the acquisition piece of land, anything permanently fixed to it, including buildings, structures on it, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The distributions of earnings to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow for acquisition of furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received by a corporation from a shareholder during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the issuance of common limited partners units during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the capital received in cash from a partner in a partnership during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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