Consolidated Statements of Operations - USD ($)
|
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
| Revenues: |
|
|
|
| Total revenues |
$ 168,764,571
|
$ 124,024,363
|
$ 109,528,549
|
| Operating expenses: |
|
|
|
| General and administrative |
23,265,196
|
16,471,199
|
10,461,453
|
| Depreciation |
40,946,406
|
32,294,627
|
29,605,278
|
| Intangible amortization expense |
12,422,205
|
9,777,116
|
11,493,394
|
| Self administration transaction expenses |
|
0
|
1,572,238
|
| Acquisition expenses – affiliates |
|
|
84,061
|
| Other acquisition expenses |
934,838
|
1,366,092
|
141,489
|
| Contingent earnout adjustment |
12,619,744
|
(2,500,000)
|
200,000
|
| Impairment of goodwill and intangible assets |
0
|
36,465,732
|
0
|
| Impairment of investments in Managed REITs |
0
|
4,376,879
|
0
|
| Write-off of equity interest and preexisting relationships in SST IV upon acquisition of control |
8,389,573
|
0
|
0
|
| Total operating expenses |
152,435,452
|
145,164,573
|
101,885,233
|
| Gain on sale of real estate |
178,631
|
0
|
3,944,696
|
| Income (loss) from operations |
16,507,750
|
(21,140,210)
|
11,588,012
|
| Other income (expense): |
|
|
|
| Interest expense |
(31,818,237)
|
(32,597,613)
|
(37,563,247)
|
| Interest expense – accretion of fair market value of secured debt |
110,942
|
130,682
|
131,611
|
| Interest expense – debt issuance costs |
(1,676,309)
|
(3,586,381)
|
(3,996,676)
|
| Net loss on extinguishment of debt |
(2,444,788)
|
0
|
(2,647,633)
|
| Gain resulting from acquisition of unconsolidated affiliates |
|
0
|
8,017,353
|
| Other, net |
(244,076)
|
5,986,719
|
(624,958)
|
| Net loss |
(19,564,718)
|
(51,206,803)
|
(25,095,538)
|
| Net loss attributable to the noncontrolling interests in our Operating Partnership |
2,663,123
|
6,901,931
|
2,010,959
|
| Less: Distributions to preferred stockholders |
(12,500,000)
|
(10,049,522)
|
(1,665,754)
|
| Net loss attributable to SmartStop Self Storage REIT, Inc. common stockholders |
(29,401,595)
|
(54,354,394)
|
(24,750,333)
|
| Self Storage Rental Revenue |
|
|
|
| Revenues: |
|
|
|
| Total revenues |
150,610,337
|
104,888,883
|
99,494,560
|
| Ancillary Operating Revenue |
|
|
|
| Revenues: |
|
|
|
| Total revenues |
7,552,597
|
5,286,042
|
3,706,700
|
| Managed REIT Platform Revenue |
|
|
|
| Revenues: |
|
|
|
| Total revenues |
6,322,970
|
8,048,630
|
3,068,306
|
| Reimbursable Costs from Managed REITs |
|
|
|
| Revenues: |
|
|
|
| Total revenues |
4,278,667
|
5,800,808
|
3,258,983
|
| Operating expenses: |
|
|
|
| Operating expenses |
4,278,667
|
5,800,808
|
3,258,983
|
| Property Operating Expenses |
|
|
|
| Operating expenses: |
|
|
|
| Operating expenses |
48,127,657
|
38,305,199
|
35,723,111
|
| Property Operating Expenses – Affiliates |
|
|
|
| Operating expenses: |
|
|
|
| Operating expenses |
|
|
6,605,670
|
| Managed REIT Platform Expenses |
|
|
|
| Operating expenses: |
|
|
|
| Operating expenses |
$ 1,451,166
|
$ 2,806,921
|
$ 2,739,556
|
| Class A Common stock |
|
|
|
| Other income (expense): |
|
|
|
| Net loss per share-basic and diluted |
$ (0.37)
|
$ (0.91)
|
$ (0.42)
|
| Weighted average shares outstanding-basic and diluted |
71,454,798
|
51,813,718
|
50,734,472
|
| Class T Common stock |
|
|
|
| Other income (expense): |
|
|
|
| Net loss per share-basic and diluted |
$ (0.37)
|
$ (0.91)
|
$ (0.42)
|
| Weighted average shares outstanding-basic and diluted |
7,983,576
|
7,802,689
|
7,607,654
|