Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Real estate    
Self storage properties $ 3,314,849 $ 3,091,719
Less accumulated depreciation (363,527) (337,822)
Self storage properties, net 2,951,322 2,753,897
Cash and cash equivalents 18,689 20,558
Restricted cash 3,997 3,718
Debt issuance costs, net 3,067 3,264
Investment in unconsolidated real estate ventures 213,497 214,061
Other assets, net 64,503 65,441
Operating lease right-of-use assets 23,798 23,306
Total assets 3,278,873 3,084,245
Liabilities    
Debt financing 1,731,669 1,534,047
Accounts payable and accrued liabilities 40,127 37,966
Interest rate swap liabilities 84,703 19,943
Operating lease liabilities 25,243 24,665
Deferred revenue 16,076 15,523
Total liabilities 1,897,818 1,632,144
Commitments and contingencies (Note 11)
Equity    
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 8,732,719 and 8,727,119 issued and outstanding at March 31, 2020 and December 31, 2019, at liquidation preference 218,318 218,178
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 68,027,212 and 59,659,108 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 680 597
Additional paid-in capital 970,786 905,763
Distributions in excess of earnings (213,447) (197,075)
Accumulated other comprehensive loss (52,855) (7,833)
Total shareholders' equity 923,482 919,630
Noncontrolling interests 457,573 532,471
Total equity 1,381,055 1,452,101
Total liabilities and equity $ 3,278,873 $ 3,084,245