XML 58 R48.htm IDEA: XBRL DOCUMENT
v3.23.1

Debt - Schedule of Summarized Real Estate Secured Debt (Parenthetical) (Detail) $ in Millions |  |  | 3 Months Ended |  |
--- | --- | --- | --- | --- | ---
Apr. 15, 2021 CAD ($) | Mar. 17, 2021 USD ($) Property | Mar. 31, 2023 USD ($) Property | Dec. 31, 2022 USD ($) | Apr. 19, 2022
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt Instrument Carrying Amount |  |  |  | $ 1,085,295,720 |  |  |
BMO Loan | Oakville III Property |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Proceeds from line of credit |  | $ 16.3 |  |  |  |  |
2032 Private Placement Notes |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Senior notes maturity date |  |  |  | Apr. 19, 2032 |  |  |
Debt Instrument Carrying Amount |  |  |  | $ 150,000,000 |  | $ 150,000,000 |
Interest rate |  |  |  | 5.28% | [1] |  | 4.53%
Interest Accruing on Notes |  |  |  | 5.28% |  |  |
CDOR | BMO Loan | Oakville III Property |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  | 2.25% |  |  |  |  |
KeyBank SST IV CMBS Loan |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Number of properties encumbered | Property |  |  | 7 |  |  |  |
Senior notes maturity date |  |  | Feb. 01, 2030 |  |  |  |
Debt Instrument Carrying Amount |  |  | $ 40,500,000 |  |  |  |
Fixed Rate Secured Debt | KeyBank CMBS Loan |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Number of properties encumbered | Property |  |  |  | 29 |  |  |
Senior notes maturity date | [2] |  |  | Aug. 01, 2026 |  |  |
Debt Instrument Carrying Amount | [2] |  |  | $ 92,342,830 |  | 92,784,412 |
Fixed Rate Secured Debt | KeyBank Property Loan |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Number of properties encumbered | Property |  |  |  | 5 |  |  |
Fixed Rate Secured Debt | CMBS Loan |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Number of properties encumbered | Property |  |  |  | 10 |  |  |
Senior notes maturity date | [3] |  |  | Feb. 01, 2029 |  |  |
Debt Instrument Carrying Amount | [3] |  |  | $ 104,000,000 |  | $ 104,000,000 |
[1] | This note accrued interest at a rate of 4.53% for the three months ended March 31, 2023. As of March 31, 2023, a Total Leverage Ratio Event (as defined below) had occurred, and the interest rate on such Note increased to 5.28% prospectively. For additional information regarding this loan, see below.
[2] | This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at which time both interest and principal payments became due monthly. The separate assets of these encumbered properties are not available to pay our other debts.
[3] | This fixed rate, interest only loan encumbers 10 properties (Myrtle Beach I, Myrtle Beach II, Port St. Lucie, Plantation, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Ft Pierce, Nantucket Island). The separate assets of these encumbered properties are not available to pay our other debts.

X
- Definition Interest Accruing On Notes + References No definition available. + Details
Name: | ck0001585389_InterestAccruingOnNotes
Namespace Prefix: | ck0001585389_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of real estate properties encumbered. + References No definition available. + Details
Name: | ck0001585389_NumberOfRealEstatePropertiesEncumbered
Namespace Prefix: | ck0001585389_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(2)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_DebtInstrumentMaturityDate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3255-108585 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(f)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ProceedsFromLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_CreditFacilityAxis=ck0001585389_BMOLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=ck0001585389_OakvilleIIIPropertyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ck0001585389_TwothousandthirtytwoprivateplacementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=ck0001585389_CanadianDealerOfferedRatesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ck0001585389_KeyBankSstIvCmbsLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ck0001585389_KeybankCmbsLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ck0001585389_KeyBankPropertyLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=ck0001585389_CMBSLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |