Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Investment in storage facilities:    
Land $ 594,879 $ 480,176
Building, equipment, and construction in progress 2,238,107 2,011,526
Real estate investment property, at cost, total 2,832,986 2,491,702
Less: accumulated depreciation (479,859) (465,195)
Investment in storage facilities, net 2,353,127 2,026,507
Cash and cash equivalents 6,373 7,032
Accounts receivable 4,203 6,805
Receivable from unconsolidated joint ventures 659 929
Investment in unconsolidated joint ventures 64,985 62,520
Prepaid expenses 7,236 5,431
Fair value of interest rate swap agreements   550
Other assets 12,900 9,048
Total Assets 2,449,483 2,118,822
Liabilities    
Line of credit 141,000 79,000
Term notes, net of financing fees 746,831 746,650
Accounts payable and accrued liabilities 38,065 47,839
Deferred revenue 8,138 7,511
Fair value of interest rate swap agreements 26,846 15,343
Mortgages payable 1,959 1,993
Total Liabilities 962,839 898,336
Noncontrolling redeemable Operating Partnership Units at redemption value 24,213 18,171
Shareholders' Equity    
Common stock $.01 par value, 100,000,000 shares authorized, 39,399,691 shares outstanding at March 31, 2016 (36,710,673 at December 31, 2015) 394 367
Additional paid-in capital 1,664,549 1,388,343
Dividends in excess of net income (176,429) (171,980)
Accumulated other comprehensive loss (26,511) (14,415)
Total Shareholders' Equity 1,462,003 1,202,315
Noncontrolling interest in consolidated subsidiary 428  
Total Equity 1,462,431 1,202,315
Total Liabilities and Shareholders' Equity $ 2,449,483 $ 2,118,822