XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Self storage rental revenue $ 6,236,956 $ 2,616,424 $ 14,612,097 $ 5,397,596
Ancillary operating revenue 51,520 25,347 130,136 70,253
Total revenues 6,288,476 2,641,771 14,742,233 5,467,849
Operating expenses:        
Property operating expenses 2,575,424 1,143,608 6,444,257 2,556,677
Property operating expenses – affiliates 1,408,501 558,360 3,235,619 1,235,607
General and administrative 1,467,393 551,885 3,980,374 1,582,971
Depreciation 3,162,895 1,342,091 7,393,300 2,940,413
Intangible amortization expense 1,428,618 610,992 3,266,554 1,307,786
Acquisition expense - affiliates 132,678 168,414 413,577 425,576
Other property acquisition expenses 204,939 136,345 943,277 679,677
Total operating expenses 10,380,448 4,511,695 25,676,958 10,728,707
Operating loss (4,091,972) (1,869,924) (10,934,725) (5,260,858)
Other income (expense):        
Interest expense (4,722,504) (1,440,811) (11,286,226) (2,630,787)
Interest expense - debt issuance costs (350,460) (202,037) (1,162,080) (789,725)
Derivative fair value adjustment 990,147   885,694  
Other 186,717 176 336,922 (1,176)
Foreign currency adjustment (2,351,612) (1,114,214) (1,753,102) (1,278,049)
Net loss (10,339,684) (4,626,810) (23,913,517) (9,960,595)
Less: Distributions to preferred unitholders in our Operating Partnership     (271,250)  
Less: Distributions to preferred stockholders (3,131,250)   (5,218,750)  
Less: Accretion of preferred equity costs     (189,920)  
Net loss attributable to the noncontrolling interests in our Operating Partnership 297,677 180,574 723,552 483,605
Net loss attributable to Strategic Storage Trust V1, Inc. common stockholders $ (13,173,257) $ (4,446,236) $ (28,869,885) $ (9,476,990)
Class P Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Net loss per share-diluted $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Weighted average shares outstanding - basic 11,022,812 10,733,250 10,952,871 9,549,798
Weighted average shares outstanding - diluted 11,022,812 10,733,250 10,952,871 9,549,798
Class A Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Net loss per share-diluted $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Weighted average shares outstanding - basic 2,465,629 957,515 2,192,694 383,363
Weighted average shares outstanding - diluted 2,465,629 957,515 2,192,694 383,363
Class T Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Net loss per share-diluted $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Weighted average shares outstanding - basic 4,521,921 1,535,885 3,945,156 554,899
Weighted average shares outstanding - diluted 4,521,921 1,535,885 3,945,156 554,899
Class W Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Net loss per share-diluted $ (0.71) $ (0.33) $ (1.65) $ (0.9)
Weighted average shares outstanding - basic 558,149 135,536 447,826 55,425
Weighted average shares outstanding - diluted 558,149 135,536 447,826 55,425