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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate facilities:    
Land $ 480,539 $ 430,869
Buildings 1,516,095 1,401,981
Site improvements 94,562 91,896
Real estate investment property, gross 2,091,196 1,924,746
Accumulated depreciation (305,132) (255,844)
Real estate investment property 1,786,064 1,668,902
Construction in process 9,503 5,977
Real estate facilities, net 1,795,567 1,674,879
Cash and cash equivalents 23,112 45,079
Restricted cash 6,189 8,348
Investments in unconsolidated real estate ventures (Note 4) 38,797 35,832
Investments in and advances to Managed REITs 57,722 34,391
Deferred tax assets 4,310 4,450
Other assets, net 33,538 21,701
Intangible assets, net of accumulated amortization 6,766 1,170
Trademarks, net of accumulated amortization 15,700 15,771
Goodwill 53,643 53,643
Debt issuance costs, net of accumulated amortization 6,723 377
Total assets [1] 2,042,067 1,895,641
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Debt, net 1,317,435 1,087,401
Accounts payable and accrued liabilities 38,113 28,978
Due to affiliates 362 416
Distributions payable 9,257 9,156
Deferred tax liabilities 5,954 6,194
Total liabilities 1,371,121 1,132,145
Commitments and contingencies (Note 12)
Equity:    
Additional paid-in capital 895,118 894,857
Distributions (382,160) (324,191)
Accumulated deficit (185,649) (167,270)
Accumulated other comprehensive income (1,708) 847
Total SmartStop Self Storage REIT, Inc. equity 325,698 404,340
Noncontrolling interests in our Operating Partnership 86,470 91,488
Other noncontrolling interests 380 35
Total noncontrolling interests 86,850 91,523
Total equity 412,548 495,863
Total liabilities, temporary equity and equity 2,042,067 1,895,641
Redeemable Common Stock    
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Redeemable common stock / Preferred stock 62,042 71,277
Series A Convertible Preferred Stock    
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Redeemable common stock / Preferred stock 196,356 196,356
Class A Common stock    
Equity:    
Common stock, value 89 89
Class T Common stock    
Equity:    
Common stock, value $ 8 $ 8
[1] Other than our investments in and advances to Managed REITs and investments in JV properties, substantially all of our investments in real estate facilities and intangible assets as well as our capital expenditures for the years ended and as of December 31, 2024 and 2023, 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.