XML 19 R4.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Self storage rental revenue $ 20,990,999 $ 8,698,972 $ 1,245,751
Ancillary operating revenue 169,065 91,035 20,021
Total revenues 21,160,064 8,790,007 1,265,772
Operating expenses:      
Property operating expenses 9,190,888 3,835,556 628,189
Property operating expenses – affiliates 4,625,560 1,899,807 274,787
General and administrative 5,290,049 2,289,610 764,130
Depreciation 10,542,315 4,526,912 603,413
Intangible amortization expense 4,437,083 2,064,048 320,576
Acquisition expense - affiliates 564,746 573,899 353,511
Other property acquisition expenses 1,037,225 874,679 957,517
Total operating expenses 35,687,866 16,064,511 3,902,123
Operating loss (14,527,802) (7,274,504) (2,636,351)
Other income (expense):      
Interest expense (16,104,501) (4,865,029) (608,432)
Interest expense – debt issuance costs (1,499,924) (1,097,941) (137,825)
Derivative fair value adjustment (1,881,402)    
Equity in loss of unconsolidated affiliate     (57,104)
Other 546,615 2 (136)
Foreign currency adjustment 528,949 (1,142,611) (174,463)
Net loss (32,938,065) (14,380,083) (3,614,311)
Less: Distributions to preferred unitholders in our Operating Partnership (271,250)    
Less: Distributions to preferred stockholders (8,350,000)    
Less: Accretion of preferred equity costs (189,920)    
Net loss attributable to the noncontrolling interests in our Operating Partnership 968,721 637,728 628,966
Net loss attributable to Strategic Storage Trust V1, Inc. common stockholders $ (40,780,514) $ (13,742,355) $ (2,985,345)
Class P Common Stock      
Other income (expense):      
Net loss per share-basic $ (2.19) $ (1.16) $ (1.52)
Net loss per share-diluted $ (2.19) $ (1.16) $ (1.52)
Weighted average shares outstanding - basic 10,982,858 9,866,463 1,970,391
Weighted average shares outstanding - diluted 10,982,858 9,866,463 1,970,391
Class A Common Stock      
Other income (expense):      
Net loss per share-basic $ (2.19) $ (1.16)  
Net loss per share-diluted $ (2.19) $ (1.16)  
Weighted average shares outstanding - basic 2,619,151 747,639  
Weighted average shares outstanding - diluted 2,619,151 747,639  
Class T Common Stock      
Other income (expense):      
Net loss per share-basic $ (2.19) $ (1.16)  
Net loss per share-diluted $ (2.19) $ (1.16)  
Weighted average shares outstanding - basic 4,484,873 1,155,211  
Weighted average shares outstanding - diluted 4,484,873 1,155,211  
Class W Common Stock      
Other income (expense):      
Net loss per share-basic $ (2.19) $ (1.16)  
Net loss per share-diluted $ (2.19) $ (1.16)  
Weighted average shares outstanding - basic 505,476 92,916  
Weighted average shares outstanding - diluted 505,476 92,916  
Class Y Common Stock      
Other income (expense):      
Net loss per share-basic $ (2.19)    
Net loss per share-diluted $ (2.19)    
Weighted average shares outstanding - basic 20,629    
Weighted average shares outstanding - diluted 20,629    
Class Z Common Stock      
Other income (expense):      
Net loss per share-basic $ (2.19)    
Net loss per share-diluted $ (2.19)    
Weighted average shares outstanding - basic 1,354    
Weighted average shares outstanding - diluted 1,354