Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (569) $ (13,986)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 30,192 15,311
Amortization of debt issuance costs 2,121 1,806
Amortization of debt discount and premium, net (1,260) 867
Loss on debt extinguishment 414 344
Unrealized (gain) loss on fair value of derivatives 68 142
Gain on sale of self storage properties 0 (1,426)
Issuance of subordinated performance units for related party payable 0 2,994
LTIP units issued for acquisition expenses 1,020 0
Equity-based compensation expense 2,375 1,000
Change in assets and liabilities, net of effects of business combinations:    
Restricted cash (864) 706
Other assets (714) (69)
Accounts payable and accrued liabilities 4,861 3,926
Deferred revenue (88) (427)
Net Cash Provided by Operating Activities 37,556 11,188
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (132,196) (165,904)
Capital expenditures (2,985) (2,688)
Note receivable from PROs 0 (12,813)
Deposits and advances for self storage property acquisitions (3,258) (1,096)
Expenditures for corporate furniture, equipment and other (291) (121)
Change in restricted cash designated for capital expenditures 219 237
Proceeds from sale of self storage properties 0 2,993
Net Cash Used in Investing Activities (138,511) (179,392)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares in IPO 278,070 0
Borrowings under debt financings 173,943 318,424
Proceeds from issuance of OP units 0 431
Receipts for OP unit subscriptions 1,011 0
Collection of receivables from issuance of OP equity 774 0
Principal payments under debt financings (324,247) (143,634)
Payment of dividends to common shareholders (3,453) 0
Distributions to noncontrolling interests (20,112) (7,189)
NSA Predecessor distributions and other 0 (429)
Change in restricted cash for financing activity (167) 0
Payment received on partner receivable 0 70
Debt issuance costs (1,717) (904)
Equity offering costs (5,370) (524)
Net Cash Provided by Financing Activities 98,732 166,245
Decrease in Cash and Cash Equivalents (2,223) (1,959)
CASH AND CASH EQUIVALENTS    
Beginning of period 9,009 11,196
End of period 6,786 9,237
Supplemental Cash Flow Information    
Cash paid for interest 15,719 30,825
Consideration exchanged in business combinations:    
Issuance of OP units and subordinated performance units 42,113 113,784
Deposits on acquisitions applied to purchase price 745 50
LTIP units vesting upon acquisition of properties 0 3,374
Assumption of mortgages payable 49,855 59,488
Note payable to related party to settle assumed mortgages 5,342 0
Other net liabilities assumed 870 2,302
OP units in exchange for receivable from seller 0 4,758
Notes receivable settled upon acquisition of properties 1,778 7,598
Fair value of noncontrolling interests in acquired subsidiaries 15,097 35,442
Issuance of OP units for settlement of subscription liability 293 5,863
Settlement of acquisition receivables from distributions 1,137 0
Increase in lender participation liability and related discount 0 770
(Decrease) increase in payables for deferred offering costs (1,342) 1,011
Settlement of debt issuance costs from borrowings 0 3,851
Settlement of offering costs from IPO proceeds $ 20,930 $ 0