CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Real estate |
|
|
| Self storage properties |
$ 1,147,201
|
$ 838,941
|
| Less accumulated depreciation |
(68,100)
|
(39,614)
|
| Self storage properties, net |
1,079,101
|
799,327
|
| Cash and cash equivalents |
6,665
|
9,009
|
| Restricted cash |
2,712
|
2,120
|
| Debt issuance costs, net |
4,740
|
6,346
|
| Other assets, net |
8,648
|
15,944
|
| Total assets |
1,101,866
|
832,746
|
| Liabilities |
|
|
| Debt financing |
570,612
|
597,691
|
| Accounts payable and accrued liabilities |
9,694
|
10,012
|
| Distributions payable |
0
|
6,763
|
| Deferred revenue |
5,513
|
4,176
|
| Total liabilities |
$ 585,819
|
$ 618,642
|
| Commitments and contingencies (Note 12) |
|
|
| Equity |
|
|
| Common shares of beneficial interest, par value $0.01 per share. 250,000,000 and 1,000 shares authorized, 23,015,751 and 1,000 shares issued and outstanding at December 31, 2015 and 2014, respectively |
$ 230
|
$ 0
|
| Additional paid-in capital |
236,392
|
0
|
| Retained earnings |
11
|
0
|
| Accumulated other comprehensive loss |
0
|
0
|
| Total shareholders' equity |
236,633
|
0
|
| Noncontrolling interests |
279,414
|
214,104
|
| Total equity |
516,047
|
214,104
|
| Total liabilities and equity |
$ 1,101,866
|
$ 832,746
|