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, 2018
Dec. 31, 2017
Real estate    
Self storage properties $ 2,411,453 $ 2,275,233
Less accumulated depreciation (188,407) (170,358)
Self storage properties, net 2,223,046 2,104,875
Cash and cash equivalents 15,262 13,366
Restricted cash 2,929 3,041
Debt issuance costs, net 1,943 2,185
Investment in unconsolidated real estate venture 90,092 89,093
Other assets, net 58,637 52,615
Assets held for sale 0 1,555
Total assets 2,391,909 2,266,730
Liabilities    
Debt financing 1,069,600 958,097
Accounts payable and accrued liabilities 24,079 24,459
Deferred revenue 13,542 12,687
Total liabilities 1,107,221 995,243
Commitments and contingencies (Note 11)
Equity    
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 6,900,000 issued and outstanding at March 31, 2018 and December 31, 2017, at liquidation preference 172,500 172,500
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 shares authorized, 50,438,731 and 50,284,934 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 504 503
Additional paid-in capital 700,762 711,467
Distributions in excess of earnings (61,956) (55,729)
Accumulated other comprehensive income 17,485 12,282
Total shareholders' equity 829,295 841,023
Noncontrolling interests 455,393 430,464
Total equity 1,284,688 1,271,487
Total liabilities and equity $ 2,391,909 $ 2,266,730