SmartStop Self Storage REIT Inc
For the period ended Dec 31, 2023. Filed Mar 18, 2024.
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FY2023 · Filed Mar 18, 2024
SMA$39.69+2.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
December 31, 2023 and 2022
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Real estate facilities: | ||
| Land | $430,868,563 | $420,522,591 |
| Buildings | 1,401,981,394 | 1,377,311,421 |
| Site improvements | 91,896,415 | 89,371,633 |
| 1,924,746,372 | 1,887,205,645 | |
| Accumulated depreciation | (255,844,284) | (202,682,688) |
| 1,668,902,088 | 1,684,522,957 | |
| Construction in process | 5,976,946 | 4,490,926 |
| Real estate facilities, net | 1,674,879,034 | 1,689,013,883 |
| Cash and cash equivalents | 45,079,371 | 39,486,588 |
| Restricted cash | 8,347,805 | 6,551,803 |
| Investments in unconsolidated real estate ventures (Note 4) | 35,831,600 | 28,522,082 |
| Investments in and advances to Managed REITs | 34,390,866 | 62,371,167 |
| Deferred tax assets | 4,449,665 | — |
| Other assets, net | 21,701,107 | 34,131,543 |
| Intangible assets, net of accumulated amortization | 1,170,100 | 15,553,303 |
| Trademarks, net of accumulated amortization | 15,770,588 | 15,911,765 |
| Goodwill | 53,643,331 | 53,643,331 |
| Debt issuance costs, net of accumulated amortization | 377,258 | 2,031,922 |
| Total assets | $1,895,640,725 | $1,947,217,387 |
| LIABILITIES, TEMPORARY EQUITY, AND EQUITY | ||
| Debt, net | $1,087,401,334 | $1,068,371,956 |
| Accounts payable and accrued liabilities | 28,977,714 | 28,151,741 |
| Due to affiliates | 415,980 | 409,730 |
| Distributions payable | 9,155,808 | 9,324,453 |
| Deferred tax liabilities | 6,193,675 | 6,205,620 |
| Total liabilities | 1,132,144,511 | 1,112,463,500 |
| Commitments and contingencies (Note 12) | ||
| Redeemable common stock | 71,277,195 | 76,578,073 |
| Preferred stock, $0.001 par value; 200,000,000 shares authorized: | ||
| Series A Convertible Preferred Stock, $0.001 par value; 200,000 shares authorized; 200,000 and 200,000 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively, with aggregate liquidation preferences of $203,150,685 and $203,150,685 at December 31, 2023 and December 31, 2022, respectively | 196,356,107 | 196,356,107 |
| Equity: | ||
| SmartStop Self Storage REIT, Inc.: | ||
| Class A common stock, $0.001 par value; 350,000,000 shares authorized; 88,761,135 and 88,853,454 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | 88,762 | 88,853 |
| Class T common stock, $0.001 par value; 350,000,000 shares authorized; 8,113,827 and 8,085,550 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | 8,114 | 8,085 |
| Additional paid-in capital | 894,856,554 | 894,283,954 |
| Distributions | (324,190,556) | (266,151,517) |
| Accumulated deficit | (167,270,293) | (164,524,595) |
| Accumulated other comprehensive income | 847,183 | 3,654,682 |
| Total SmartStop Self Storage REIT, Inc. equity | 404,339,764 | 467,359,462 |
| Noncontrolling interests in our Operating Partnership | 91,488,207 | 94,405,766 |
| Other noncontrolling interests | 34,941 | 54,479 |
| Total noncontrolling interests | 91,523,148 | 94,460,245 |
| Total equity | 495,862,912 | 561,819,707 |
| Total liabilities, temporary equity and equity | $1,895,640,725 | $1,947,217,387 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.