v3.25.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Real estate facilities:    
Land $ 538,799 $ 480,539
Buildings 1,769,744 1,516,095
Site improvements 101,637 94,562
Real estate investment property, gross 2,410,180 2,091,196
Accumulated depreciation (349,789) (305,132)
Real estate investment property 2,060,391 1,786,064
Construction in process 7,747 9,503
Real estate facilities, net 2,068,138 1,795,567
Cash and cash equivalents 47,806 23,112
Restricted cash 6,406 6,189
Investments in unconsolidated real estate ventures (Note 4) 41,896 38,797
Investments in and advances to Managed REITs 110,624 57,722
Deferred tax assets 4,437 4,310
Other assets, net 25,263 33,538
Intangible assets, net of accumulated amortization 13,340 6,766
Trademarks, net of accumulated amortization 15,700 15,700
Goodwill 53,643 53,643
Debt issuance costs, net of accumulated amortization 4,026 6,723
Total assets [1] 2,391,279 2,042,067
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Debt, net 1,041,661 1,317,435
Accounts payable and accrued liabilities 45,325 38,113
Due to affiliates 12 362
Distributions payable 8,559 9,257
Deferred tax liabilities 6,492 5,954
Total liabilities 1,102,049 1,371,121
Commitments and contingencies (Note 12)
Equity:    
Additional paid-in capital 1,839,823 895,118
Distributions (440,850) (382,160)
Accumulated deficit (197,189) (185,649)
Accumulated other comprehensive income (loss) 268 (1,708)
Total SmartStop Self Storage REIT, Inc. equity 1,202,107 325,698
Noncontrolling interests in our Operating Partnership 87,123 86,470
Other noncontrolling interests 0 380
Total noncontrolling interests 87,123 86,850
Total equity 1,289,230 412,548
Total liabilities, temporary equity and equity 2,391,279 2,042,067
Common Stock    
Equity:    
Common stock, value 31 0
Class A Common stock    
Equity:    
Common stock, value 22 89
Class T Common stock    
Equity:    
Common stock, value 2 8
Series A Convertible Preferred Stock    
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Redeemable common stock / Preferred stock 0 196,356
Redeemable Common Stock    
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Redeemable common stock / Preferred stock $ 0 $ 62,042
[1] Other than our investments in and advances to Managed REITs and our investments in JV Properties, substantially all of our investments in real estate facilities and intangible assets as well as our capital expenditures for the nine months and year ended September 30, 2025 and December 31, 2024, respectively, were associated with our self storage platform. Please see Note 3 – Real Estate of the Notes to the Consolidated Financial Statements for additional detail.