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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Self storage rental revenue $ 6,946,834 $ 4,487,714 $ 13,524,421 $ 8,375,141
Ancillary operating revenue 49,554 46,441 88,878 78,616
Total revenues 6,996,388 4,534,155 13,613,299 8,453,757
Operating expenses:        
Property operating expenses 2,765,425 2,067,652 5,694,139 3,868,833
Property operating expenses – affiliates 1,287,048 1,003,774 2,567,643 1,827,118
General and administrative 1,593,060 1,630,650 3,147,798 2,512,981
Depreciation 3,172,390 2,296,874 6,347,622 4,230,405
Intangible amortization expense 838,548 960,402 1,878,146 1,837,936
Acquisition expense - affiliates 135,630 142,727 314,053 280,899
Other property acquisition expenses 49,801 636,532 103,842 738,338
Total operating expenses 9,841,902 8,738,611 20,053,243 15,296,510
Operating loss (2,845,514) (4,204,456) (6,439,944) (6,842,753)
Other income (expense):        
Interest expense (4,532,579) (3,438,534) (9,242,874) (6,563,722)
Interest expense - debt issuance costs (277,667) (603,077) (553,925) (811,620)
Derivative fair value adjustment 147,357 (104,453) 1,763,673 (104,453)
Other 157,331 144,823 345,149 150,205
Foreign currency adjustment (1,151,535) 1,066,664 (3,357,638) 598,510
Net loss (8,502,607) (7,139,033) (17,485,559) (13,573,833)
Less: Distributions to preferred unitholders in our Operating Partnership   (93,333)   (271,250)
Less: Distributions to preferred stockholders (3,085,113) (2,087,500) (6,251,155) (2,087,500)
Less: Accretion of preferred equity costs   (174,072)   (189,920)
Net loss attributable to the noncontrolling interests in our Operating Partnership 202,777 217,450 428,150 425,875
Net loss attributable to Strategic Storage Trust V1, Inc. common stockholders $ (11,384,943) $ (9,276,488) $ (23,308,564) $ (15,696,628)
Class P Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Net loss per share-diluted $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Weighted average shares outstanding - basic 11,163,181 10,953,437 11,150,159 10,917,182
Weighted average shares outstanding - diluted 11,163,181 10,953,437 11,150,159 10,917,182
Class A Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Net loss per share-diluted $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Weighted average shares outstanding - basic 3,369,755 2,418,643 3,360,831 2,280,059
Weighted average shares outstanding - diluted 3,369,755 2,418,643 3,360,831 2,280,059
Class T Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Net loss per share-diluted $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Weighted average shares outstanding - basic 5,322,378 4,251,266 5,291,281 3,926,875
Weighted average shares outstanding - diluted 5,322,378 4,251,266 5,291,281 3,926,875
Class W Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Net loss per share-diluted $ (0.5) $ (0.51) $ (1.06) $ (0.9)
Weighted average shares outstanding - basic 695,344 476,435 687,983 395,962
Weighted average shares outstanding - diluted 695,344 476,435 687,983 395,962
Class Y Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.5)   $ (1.06)  
Net loss per share-diluted $ (0.5)   $ (1.06)  
Weighted average shares outstanding - basic 1,872,410   1,406,340  
Weighted average shares outstanding - diluted 1,872,410   1,406,340  
Class Z Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.5)   $ (1.06)  
Net loss per share-diluted $ (0.5)   $ (1.06)  
Weighted average shares outstanding - basic 143,445   114,803  
Weighted average shares outstanding - diluted 143,445   114,803