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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Self storage rental revenue $ 7,236,715 $ 6,236,956 $ 20,761,136 $ 14,612,097
Ancillary operating revenue 47,287 51,520 136,165 130,136
Total revenues 7,284,002 6,288,476 20,897,301 14,742,233
Operating expenses:        
Property operating expenses 2,762,121 2,575,424 8,456,260 6,444,257
Property operating expenses – affiliates 1,303,465 1,408,501 3,871,108 3,235,619
General and administrative 1,470,060 1,467,393 4,617,858 3,980,374
Depreciation 3,196,083 3,162,895 9,543,705 7,393,300
Intangible amortization expense 654,050 1,428,618 2,532,196 3,266,554
Acquisition expense - affiliates 130,311 132,678 444,364 413,577
Other property acquisition expenses 67,441 204,939 171,283 943,277
Total operating expenses 9,583,531 10,380,448 29,636,774 25,676,958
Operating loss (2,299,529) (4,091,972) (8,739,473) (10,934,725)
Other income (expense):        
Interest expense (4,458,658) (4,722,504) (13,701,532) (11,286,226)
Interest expense - debt issuance costs (272,173) (350,460) (826,098) (1,162,080)
Derivative fair value adjustment (1,849,878) 990,147 (86,205) 885,694
Other 85,233 186,717 430,381 336,922
Foreign currency adjustment 818,394 (2,351,612) (2,539,244) (1,753,102)
Net loss (7,976,611) (10,339,684) (25,462,171) (23,913,517)
Less: Distributions to preferred unitholders in our Operating Partnership       (271,250)
Less: Distributions to preferred stockholders (3,148,361) (3,131,250) (9,399,516) (5,218,750)
Less: Accretion of preferred equity costs 0 0 0 (189,920)
Net loss attributable to the noncontrolling interests in our Operating Partnership 181,273 297,677 609,423 723,552
Net loss attributable to Strategic Storage Trust V1, Inc. common stockholders $ (10,943,699) $ (13,173,257) $ (34,252,264) $ (28,869,885)
Class P Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Net loss per share-diluted $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Weighted average shares outstanding - basic 11,208,277 11,022,812 11,170,643 10,952,871
Weighted average shares outstanding - diluted 11,208,277 11,022,812 11,170,643 10,952,871
Class A Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Net loss per share-diluted $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Weighted average shares outstanding - basic 3,372,159 2,738,704 3,364,818 2,435,541
Weighted average shares outstanding - diluted 3,372,159 2,738,704 3,364,818 2,435,541
Class T Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Net loss per share-diluted $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Weighted average shares outstanding - basic 5,343,460 4,862,280 5,323,178 4,242,103
Weighted average shares outstanding - diluted 5,343,460 4,862,280 5,323,178 4,242,103
Class W Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Net loss per share-diluted $ (0.46) $ (0.69) $ (1.52) $ (1.6)
Weighted average shares outstanding - basic 700,079 564,151 695,342 452,641
Weighted average shares outstanding - diluted 700,079 564,151 695,342 452,641
Class Y Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.46)   $ (1.52)  
Net loss per share-diluted $ (0.46)   $ (1.52)  
Weighted average shares outstanding - basic 2,770,034   1,867,148  
Weighted average shares outstanding - diluted 2,770,034   1,867,148  
Class Z Common Stock        
Other income (expense):        
Net loss per share-basic $ (0.46)   $ (1.52)  
Net loss per share-diluted $ (0.46)   $ (1.52)  
Weighted average shares outstanding - basic 171,225   142,804  
Weighted average shares outstanding - diluted 171,225   142,804