Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 33,983 $ 18,791
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 54,946 38,299
Amortization of debt issuance costs 1,613 1,493
Amortization of debt discount and premium, net (1,181) (1,557)
Loss on debt extinguishment 0 136
Gain on sale of self storage properties (5,743) 0
LTIP units issued for acquisition expenses 0 56
Equity-based compensation expense 2,844 1,913
Equity in losses of unconsolidated real estate venture 2,260 0
Distributions from unconsolidated real estate venture 3,766 0
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (1,320) (681)
Accounts payable and accrued liabilities 4,444 9,993
Deferred revenue (740) (133)
Net Cash Provided by Operating Activities 94,872 68,310
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (209,680) (323,822)
Capital expenditures (10,011) (7,980)
Investments in and advances to unconsolidated real estate venture (12,647) (4,873)
Distributions from unconsolidated real estate venture 250 0
Deposits and advances for self storage property and other acquisitions (2,273) (5,415)
Expenditures for corporate furniture, equipment and other (294) (472)
Proceeds from sale of self storage properties 17,529 0
Net Cash Used In Investing Activities (217,126) (342,562)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares 0 238,712
Proceeds from issuance of subordinated performance units 7,000 0
Borrowings under debt financings 540,400 498,500
Receipts for OP unit subscriptions 848 799
Collection of receivables from issuance of OP equity 0 570
Principal payments under debt financings (344,915) (401,204)
Payment of dividends to common shareholders (33,591) (17,593)
Distributions to noncontrolling interests (41,825) (33,392)
Debt issuance costs (2,037) (4,904)
Equity offering costs (607) (512)
Net Cash Provided By Financing Activities 125,273 280,976
Increase in Cash, Cash Equivalents and Restricted Cash 3,019 6,724
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 15,337 9,377
End of period 18,356 16,101
Supplemental Cash Flow Information    
Cash paid for interest $ 23,775 $ 16,501