Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
Investment in storage facilities:    
Land $ 269,450 $ 240,651
Building, equipment, and construction in progress 1,314,477 1,179,305
Real estate investment property, at cost, total 1,583,927 1,419,956
Less: accumulated depreciation (297,147) (271,797)
Investment in storage facilities, net 1,286,780 1,148,159
Cash and cash equivalents 6,573 5,766
Accounts receivable 2,413 2,377
Receivable from unconsolidated joint venture 502 253
Investments in unconsolidated joint ventures 30,911 19,730
Prepaid expenses 4,948 4,408
Other assets 8,361 4,848
Total Assets 1,340,488 1,185,541
Liabilities    
Line of credit 114,000 10,000
Term notes 475,000 400,000
Accounts payable and accrued liabilities 30,365 23,991
Deferred revenue 5,929 4,925
Fair value of interest rate swap agreements 8,649 10,528
Mortgages payable 74,182 78,954
Total Liabilities 708,125 528,398
Noncontrolling redeemable Operating Partnership Units at redemption value 12,601 12,480
Shareholders' Equity    
Common stock $.01 par value, 100,000,000 shares authorized, 27,834,616 shares outstanding (27,650,829 at December 31, 2010) 290 288
Additional paid-in capital 820,641 816,986
Dividends in excess of net income (165,629) (148,264)
Accumulated other comprehensive loss (8,365) (10,254)
Treasury stock at cost, 1,171,886 shares (27,175) (27,175)
Total Shareholders' Equity 619,762 631,581
Noncontrolling interest - consolidated joint venture   13,082
Total Equity 619,762 644,663
Total Liabilities and Shareholders' Equity $ 1,340,488 $ 1,185,541