$STSFF
Smartstop Self Storage Reit Inc

2016 Q1 Form 10-Q Financial Statement

#000119312516591871 Filed on May 16, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $6.235M $3.007M
YoY Change 107.35%
Cost Of Revenue $2.497M $1.190M
YoY Change 109.8%
Gross Profit $3.738M $1.817M
YoY Change 105.75%
Gross Profit Margin 59.95% 60.42%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.457M $1.663M
YoY Change -12.36%
% of Gross Profit 38.99% 91.53%
Operating Expenses $5.926M
YoY Change
Operating Profit -$3.814M -$2.919M
YoY Change 30.68%
Interest Expense $482.2K $531.6K
YoY Change -9.29%
% of Operating Profit
Other Income/Expense, Net -$29.73K -$52.24K
YoY Change -43.1%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$4.505M -$4.980M
YoY Change -9.53%
Net Earnings / Revenue -72.26% -165.62%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 2.535M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $63.57M $11.82M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $317.3M $153.4M
YoY Change 106.92% 76194.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $52.17M $84.68M
YoY Change -38.39%
SHAREHOLDERS EQUITY
Retained Earnings -$22.19M -$7.376M
YoY Change 200.87%
Common Stock $292.0M $21.30M
YoY Change 1271.25% 2129606.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $262.8M $13.28M
YoY Change
Total Liabilities & Shareholders Equity $317.3M $153.4M
YoY Change 106.92% 76194.75%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$4.505M -$4.980M
YoY Change -9.53%
Depreciation, Depletion And Amortization $1.457M $1.663M
YoY Change -12.36%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $115.4M $8.154M
YoY Change 1315.38%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11816148
CY2016Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
42500000
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2016Q1 us-gaap Derivative Average Forward Exchange Rate1
DerivativeAverageForwardExchangeRate1
1.339 pure
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
3751286
CY2016Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1536052
CY2016Q1 us-gaap Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
-29678
CY2016Q1 us-gaap Liabilities
Liabilities
52171965
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7200000
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
292036297
CY2016Q1 us-gaap Secured Debt
SecuredDebt
46377093
CY2016Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
31336879
CY2016Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
709935
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-22192530
CY2016Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
5204408
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
262824890
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
317314767
CY2016Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
2347590
CY2016Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
507534
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
262795212
CY2016Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
163581675
CY2016Q1 us-gaap Other Assets
OtherAssets
9223616
CY2016Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
80261449
CY2016Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2312366
CY2016Q1 us-gaap Land
Land
63588013
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
477403
CY2016Q1 us-gaap Real Estate Investments
RealEstateInvestments
236228366
CY2016Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12700000
CY2016Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
3318664
CY2016Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5499751
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
63573265
CY2016Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
240732644
CY2016Q1 us-gaap Development In Process
DevelopmentInProcess
700130
CY2016Q1 us-gaap Assets
Assets
317314767
CY2016Q1 us-gaap Land Improvements
LandImprovements
13562956
CY2016Q1 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
7761947
CY2016Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
83580113
CY2016Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
235528236
CY2016Q1 ck0001585389 Accumulated Amortization Of Debt Issuance Costs
AccumulatedAmortizationOfDebtIssuanceCosts
200000
CY2016Q1 ck0001585389 Real Estate Investment Property At Cost Excluding Construction In Progress
RealEstateInvestmentPropertyAtCostExcludingConstructionInProgress
240732644
CY2016Q1 ck0001585389 Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Debt Premium
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDebtPremium
541791
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6531152
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
2146253
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
986886
CY2015Q4 us-gaap Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
-23244
CY2015Q4 us-gaap Liabilities
Liabilities
26371397
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5300000
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
187434752
CY2015Q4 us-gaap Secured Debt
SecuredDebt
23029775
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
0
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17687326
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
3755709
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
165875192
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
193446828
CY2015Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
1223483
CY2015Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
208483
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
165851948
CY2015Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
97941472
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
200000
CY2015Q4 us-gaap Other Assets
OtherAssets
6017845
CY2015Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2128806
CY2015Q4 us-gaap Land
Land
47653000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
410492
CY2015Q4 us-gaap Real Estate Investments
RealEstateInvestments
152874249
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
9200000
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3910966
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28104470
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
156244550
CY2015Q4 us-gaap Development In Process
DevelopmentInProcess
385408
CY2015Q4 us-gaap Assets
Assets
193446828
CY2015Q4 us-gaap Land Improvements
LandImprovements
10650078
CY2015Q4 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
3893528
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
152488841
CY2015Q4 ck0001585389 Accumulated Amortization Of Debt Issuance Costs
AccumulatedAmortizationOfDebtIssuanceCosts
16000
CY2015Q4 ck0001585389 Real Estate Investment Property At Cost Excluding Construction In Progress
RealEstateInvestmentPropertyAtCostExcludingConstructionInProgress
156244550
CY2016Q1 ck0001585389 Number Of Self Storage Facilities
NumberOfSelfStorageFacilities
40 Property
CY2015 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
25164607
CY2015 ck0001585389 Related Party Transaction Cash Paid
RelatedPartyTransactionCashPaid
29280359
CY2015Q1 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
0 shares
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
539534
CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1057471
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2959
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4979729
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4979729
CY2015Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
43217
CY2015Q1 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-6029
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-52244
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2918853
CY2015Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
123931
CY2015Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-3580205
CY2015Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
110530000
CY2015Q1 us-gaap Revenues
Revenues
3006780
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-3580205
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1121764
CY2015Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
555509
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1762349
CY2015Q1 us-gaap Interest Paid
InterestPaid
290502
CY2015Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
80236
CY2015Q1 us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
0
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-4979729
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
180596
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
0
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
2935729
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
CY2015Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11000000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2015Q1 us-gaap Increase In Restricted Cash
IncreaseInRestrictedCash
27870
CY2015Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
6497583
CY2015Q1 us-gaap Interest Expense
InterestExpense
531575
CY2015Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
329684
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8153893
CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
0
CY2015Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1662742
CY2015Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1114970
CY2015Q1 us-gaap Depreciation
Depreciation
574934
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
115939077
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
991059
CY2015Q1 us-gaap Cost Of Revenue
CostOfRevenue
1190114
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-45130
CY2015Q1 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
2824133
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
395673
CY2015Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
703522
CY2015Q1 us-gaap Costs And Expenses
CostsAndExpenses
5925633
CY2015Q1 us-gaap Proceeds From Issuance Of Preferred Limited Partners Units
ProceedsFromIssuanceOfPreferredLimitedPartnersUnits
49820000
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
99453
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5284996
CY2015Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
61200000
CY2015Q1 us-gaap Affiliate Costs
AffiliateCosts
424933
CY2015Q1 us-gaap Debt Issuance Costs
DebtIssuanceCosts
96749
CY2015Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2015Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
0
CY2015Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-45130
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-111193615
CY2015Q1 ck0001585389 Non Cash Transactions Offering Costs Included In Due To Affiliates
NonCashTransactionsOfferingCostsIncludedInDueToAffiliates
151811
CY2015Q1 ck0001585389 Non Cash Transactions Proceeds From Issuance Of Common Stock In Other Assets
NonCashTransactionsProceedsFromIssuanceOfCommonStockInOtherAssets
127345
CY2015Q1 ck0001585389 Accretion Of Fair Market Value Of Secured Debt
AccretionOfFairMarketValueOfSecuredDebt
19216
CY2015Q1 ck0001585389 Business Acquisition Cost Of Acquired Entity Transaction Cost
BusinessAcquisitionCostOfAcquiredEntityTransactionCost
2300000
CY2015Q1 ck0001585389 Business Combination Acquisition Related Costs Paid To Affiliates
BusinessCombinationAcquisitionRelatedCostsPaidToAffiliates
2044203
CY2015Q1 ck0001585389 Non Cash Transactions Distribution Payable
NonCashTransactionsDistributionPayable
125828
CY2015Q1 ck0001585389 Other Property Acquisition Expenses
OtherPropertyAcquisitionExpenses
304717
CY2015Q1 ck0001585389 Non Cash Transactions Deferred Financing Costs Included In Due To Affiliates
NonCashTransactionsDeferredFinancingCostsIncludedInDueToAffiliates
64006
CY2015Q1 ck0001585389 Business Acquisition Pro Forma Acquisition Related Costs
BusinessAcquisitionProFormaAcquisitionRelatedCosts
2300000
CY2015Q1 ck0001585389 Business Acquisition Pro Forma Net Income Loss Attributable To Common Stockholders
BusinessAcquisitionProFormaNetIncomeLossAttributableToCommonStockholders
-4519140
CY2015Q1 ck0001585389 Non Cash Transactions Other Assets Included In Due To Affiliates
NonCashTransactionsOtherAssetsIncludedInDueToAffiliates
77556
CY2015Q1 ck0001585389 Non Cash Transactions Distributions Payable To Preferred Unit Holders In Operating Partnership
NonCashTransactionsDistributionsPayableToPreferredUnitHoldersInOperatingPartnership
1028402
CY2015Q1 ck0001585389 Non Cash Transactions Offering Costs Included In Accounts Payable And Accrued Liabilities
NonCashTransactionsOfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
26260
CY2015Q1 ck0001585389 Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
7808883
CY2015Q1 ck0001585389 Non Cash Or Partial Non Cash Transaction Preferred Stock Issuance Costs
NonCashOrPartialNonCashTransactionPreferredStockIssuanceCosts
124862
CY2015Q1 ck0001585389 Non Cash Transactions Secured Debt Assumed Purchase Of Real Estate
NonCashTransactionsSecuredDebtAssumedPurchaseOfRealEstate
0
CY2015Q1 ck0001585389 Non Cash Transactions Purchase Of Real Estate In Accounts Payable And Accrued Liabilities
NonCashTransactionsPurchaseOfRealEstateInAccountsPayableAndAccruedLiabilities
984374
CY2015Q1 ck0001585389 Non Cash Transactions Additions To Real Estate In Accounts Payable And Accrued Liabilities
NonCashTransactionsAdditionsToRealEstateInAccountsPayableAndAccruedLiabilities
193936
CY2015Q1 ck0001585389 Redemption Of Common Stock
RedemptionOfCommonStock
0
CY2015Q1 ck0001585389 Ancillary Operating Income
AncillaryOperatingIncome
71051
CY2015Q1 ck0001585389 Non Cash Transactions Redemption Of Common Stock Included In Accounts Payable And Accrued Liabilities
NonCashTransactionsRedemptionOfCommonStockIncludedInAccountsPayableAndAccruedLiabilities
0
CY2015Q1 ck0001585389 Non Cash Transactions Foreign Currency Forward Contract Loss Included In Accounts Payable And Accrued Liabilities
NonCashTransactionsForeignCurrencyForwardContractLossIncludedInAccountsPayableAndAccruedLiabilities
0
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1124934
CY2015Q2 us-gaap Revenues
Revenues
4488212
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-1990815
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-4037637
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
5613146
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Trading Symbol
TradingSymbol
ck0001585389
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001585389
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 us-gaap Derivatives Methods Of Accounting Hedge Documentation
DerivativesMethodsOfAccountingHedgeDocumentation
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b><i>Foreign Currency Forward</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> During the first quarter of 2016, we entered into a foreign currency forward contract in order to hedge foreign currency exposure related to our investment in subsidiaries that hold properties we recently acquired in Canada. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. By entering into the forward contract and holding it to maturity, we are locked into a future currency exchange rate in an amount equal to and for the term of the forward contract. We have designated the foreign currency forward as a net investment hedge and changes in the fair value of the derivative are reported in other comprehensive income.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The forward contract has a notional amount of $42.5 million CAD, a duration of 12 months, and a forward rate of approximately 1.339. As of March&#xA0;31, 2016, the forward contract has a fair market value representing a liability of approximately $986,000 USD which is recorded in accounts payable and accrued liabilities in the accompanying consolidated balance sheets. The characteristics of this financial instrument, market data, and other comparative metrics utilized in determining this fair value are &#x201C;Level 2&#x201D; inputs as the term is defined in the accounting standard for fair value measurement.</p> </div>
CY2016Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-3798719
CY2016Q1 us-gaap Derivative Remaining Maturity1
DerivativeRemainingMaturity1
P12M
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1854702
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2013-01-08
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
STRATEGIC STORAGE TRUST II, INC.
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the useful lives of real estate assets and intangibles.</p> </div>
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>Note 1. Organization</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Strategic Storage Trust II, Inc., a Maryland corporation (the &#x201C;Company&#x201D;), was formed on January&#xA0;8, 2013 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in self storage facilities. The Company&#x2019;s year-end is December&#xA0;31. As used in this report, &#x201C;we,&#x201D; &#x201C;us,&#x201D; &#x201C;our,&#x201D; and &#x201C;Company&#x201D; refer to Strategic Storage Trust II, Inc.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Strategic Storage Holdings, LLC, a Delaware limited liability company (&#x201C;SSH&#x201D;), was the sponsor of our Offering (as defined below) through August&#xA0;31, 2014. Effective August&#xA0;31, 2014, SmartStop Self Storage, Inc. (&#x201C;SmartStop&#x201D;), entered into a series of transactions, agreements and amendments to its existing agreements and arrangements (such agreements and amendments hereinafter referred to collectively as the &#x201C;Self Administration and Investment Management Transaction&#x201D;) with SSH and its affiliates, pursuant to which, effective August&#xA0;31, 2014, SmartStop acquired the self storage advisory, asset management, property management and investment management businesses of SSH including SSH&#x2019;s sole membership interest in SmartStop Asset Management, LLC (formerly Strategic Storage Realty Group, LLC), which owns 97.5% of the economic interests (and 100% of the voting membership interests) of Strategic Storage Advisor II, LLC (our &#x201C;Advisor&#x201D;) and owns 100% of Strategic Storage Property Management II, LLC (our &#x201C;Property Manager&#x201D;).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On October&#xA0;1, 2015, SmartStop and Extra Space Storage Inc. (&#x201C;Extra Space&#x201D;), along with subsidiaries of each of SmartStop and Extra Space, closed on a merger transaction (the &#x201C;Merger&#x201D;) in which SmartStop was acquired by Extra Space for $13.75 per share in cash, representing an enterprise value of approximately $1.4 billion. At the closing of the Merger, SmartStop Asset Management, LLC, the owner of our Property Manager and majority and sole voting member of our Advisor, was sold to an entity controlled by H. Michael Schwartz, our Chairman of the Board of Directors, Chief Executive Officer and President, and became our sponsor (our &#x201C;Sponsor&#x201D;). The former executive management team of SmartStop continues to serve as the executive management team for our Sponsor. In addition, our management team remains the same, as well as the management team of our Advisor and Property Manager.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> We have no employees. Our Advisor, a Delaware limited liability company, was formed on January&#xA0;8, 2013. Our Advisor is responsible for managing our affairs on a day-to-day basis and identifying and making acquisitions and investments on our behalf under the terms of the advisory agreement we have with our Advisor (our &#x201C;Advisory Agreement&#x201D;). The officers of our Advisor are also officers of us and our Sponsor.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On August&#xA0;2, 2013, our Advisor purchased 100 shares of our common stock for $1,000 and became our initial stockholder. Our Articles of Amendment and Restatement, as amended, authorize 350,000,000 shares of Class&#xA0;A common stock, $0.001 par value per share (the &#x201C;Class A Shares&#x201D;) and 350,000,000 shares of Class T common stock, $0.001 par value per share (the &#x201C;Class T Shares&#x201D;) and 200,000,000 shares of preferred stock with a par value of $0.001. We are offering a maximum of $1.0 billion in common shares for sale to the public (the &#x201C;Primary Offering&#x201D;) and $95.0 million in common shares for sale pursuant to our distribution reinvestment plan (collectively, the &#x201C;Offering&#x201D;).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On January&#xA0;10, 2014, the Securities and Exchange Commission (&#x201C;SEC&#x201D;) declared our registration statement effective. On May&#xA0;23, 2014, we satisfied the $1.5 million minimum offering requirements of our Offering and commenced formal operations. On September&#xA0;28, 2015, we revised our Primary Offering and are now offering two classes of shares of common stock: Class&#xA0;A Shares and Class T Shares. As of March&#xA0;31, 2016, we had issued approximately 31.3&#xA0;million Class&#xA0;A Shares and approximately 1.8&#xA0;million Class T Shares in our Offering for gross proceeds of approximately $311.9 million and approximately $17.2 million, respectively. We intend to invest the net proceeds from the Offering primarily in self storage facilities and related self storage real estate investments. As of March&#xA0;31, 2016 we owned 40 properties and subsequent to March&#xA0;31, 2016 we acquired an additional nine properties (see Note 12).</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On April&#xA0;8, 2016, our board of directors, upon recommendation of its nominating and corporate governance committee, approved an estimated value per share of our common stock of $10.09 for our Class&#xA0;A Shares and Class T Shares based on the estimated value of our assets less the estimated value of our liabilities, or net asset value, divided by the number of shares outstanding on a fully diluted basis, calculated as of December&#xA0;31, 2015. See our Current Report on Form 8-K filed with the SEC on April&#xA0;11, 2016 for a description of the methodologies and assumptions used to determine, and the limitations of, the estimated value per share.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As a result of the calculation of our estimated value per share, effective on April&#xA0;14, 2016, the offering price of Class&#xA0;A Shares increased from $10.00 per share to $11.21 per share and the offering price of Class T Shares increased from $9.47 per share to $10.62 per share. Our board of directors determined the new per share offering price of each class of stock by taking the $10.09 estimated value per share and adding the per share up-front sales commissions and dealer manager fees to be paid with respect to the Class&#xA0;A Shares and Class T Shares, respectively, such that after the payment of such commissions and dealer manager fees, the net proceeds to us will be the same for both Class&#xA0;A Shares and Class T Shares. In addition, effective April&#xA0;21, 2016, shares sold pursuant to our distribution reinvestment plan are sold at $10.09 per share for Class&#xA0;A and Class T Shares.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Our operating partnership, Strategic Storage Operating Partnership II, L.P., a Delaware limited partnership (our &#x201C;Operating Partnership&#x201D;), was formed on January&#xA0;9, 2013. During 2013, our Advisor purchased limited partnership interests in our Operating Partnership for $200,000 and on August&#xA0;2, 2013, we contributed the initial $1,000 capital contribution we received to our Operating Partnership in exchange for the general partner interest. Our Operating Partnership owns, directly or indirectly through one or more special purpose entities, all of the self storage properties that we have acquired and the self storage properties we will acquire in the future. As of March&#xA0;31, 2016, we owned approximately 99.9% of the common units of limited partnership interests of our Operating Partnership. The remaining approximately 0.1% of the common units are owned by our Advisor. Our Operating Partnership had issued approximately 2.4&#xA0;million Series A Cumulative Redeemable Preferred Units (the &#x201C;Preferred Units&#x201D;) to SSTI Preferred Investor, LLC (the &#x201C;Preferred Investor&#x201D;), a wholly-owned subsidiary of SmartStop Self Storage Operating Partnership, L.P., the former operating partnership of SmartStop, in exchange for an investment in our Operating Partnership of approximately $59.5 million. Such Preferred Units were owned by Extra Space subsequent to the Merger. As of December&#xA0;31, 2015, we had redeemed all of the Preferred Units. As the sole general partner of our Operating Partnership, we have the exclusive power to manage and conduct the business of our Operating Partnership. We conduct certain activities through our taxable REIT subsidiary, Strategic Storage TRS II, Inc., a Delaware corporation (the &#x201C;TRS&#x201D;), which is a wholly-owned subsidiary of our Operating Partnership.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Our Property Manager was formed on January&#xA0;8, 2013 to manage our properties. Our Property Manager derives substantially all of its income from the property management services it performs for us. Our Property Manager may enter into sub-property management agreements with third party management companies and pay part of its management fee to such sub-property manager. At the closing of the Merger, we entered into new property management agreements with our Property Manager and our Property Manager entered into sub-property management agreements with an affiliate of Extra Space for the management of our properties in the United States. Furthermore, Extra Space acquired the rights to the &#x201C;SmartStop<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> Self Storage&#x201D; brand in the United States through the Merger and we can no longer utilize this brand in the United States. The properties we own were re-branded under the Extra Space name subsequent to the Merger. However, any properties owned or acquired in Canada will be managed by a subsidiary of our Sponsor and will continue to be branded using the SmartStop<sup style="font-size:85%; vertical-align:top">&#xAE;</sup> Self Storage brand.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Our dealer manager is Select Capital Corporation, a California corporation (our &#x201C;Dealer Manager&#x201D;). Our Dealer Manager is responsible for marketing our shares being offered pursuant to our Primary Offering. Our president owned, through a wholly-owned limited liability company, a 15% non-voting equity interest in our Dealer Manager through August&#xA0;31, 2014. Effective August&#xA0;31, 2014, SmartStop indirectly owned the 15% non-voting equity interest in our Dealer Manager, pursuant to the Self Administration and Investment Management Transaction. Effective October&#xA0;1, 2015, in connection with the Merger, the 15% non-voting equity interest in our Dealer Manager is now owned by our Sponsor. An affiliate of our Dealer Manager continues to own a 2.5% non-voting membership interest in our Advisor.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> As we accept subscriptions for shares of our common stock, we transfer substantially all of the net offering proceeds to our Operating Partnership as capital contributions in exchange for additional units of interest in our Operating Partnership. However, we are deemed to have made capital contributions in the amount of gross proceeds received from investors, and our Operating Partnership is deemed to have simultaneously paid the sales commissions and other costs associated with the Offering. In addition, our Operating Partnership is structured to make distributions with respect to limited partnership units that are equivalent to the distributions made to holders of common stock. Finally, a limited partner in our Operating Partnership may later exchange his or her limited partnership units in our Operating Partnership for shares of our common stock at any time after one year following the date of issuance of their limited partnership units, subject to certain restrictions outlined in our Operating Partnership&#x2019;s limited partnership agreement (the &#x201C;Operating Partnership Agreement&#x201D;). Our Advisor is prohibited from exchanging or otherwise transferring its limited partnership units so long as it is acting as our Advisor pursuant to our Advisory Agreement.</p> </div>
CY2016Q1 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
-1651475
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1300408
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2986
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4505204
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3795812
CY2016Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
15044039
CY2016Q1 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
47241
CY2016Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
115559728
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-29728
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-3814337
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
7077
CY2016Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1651475
CY2016Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-126888
CY2016Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3530157
CY2016Q1 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
80261449
CY2016Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
6777261
CY2016Q1 us-gaap Interest Expense
InterestExpense
482207
CY2016Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
0
CY2016Q1 us-gaap Dividends Common Stock
DividendsCommonStock
3868419
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
115408434
CY2016Q1 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
485042
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
69280821
CY2016Q1 us-gaap Revenues
Revenues
6234589
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-4508654
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
869131
CY2016Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
3800000
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
10810880
CY2016Q1 us-gaap Interest Paid
InterestPaid
456241
CY2016Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1051833
CY2016Q1 us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
2019933
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-4505204
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1667776
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-986350
CY2016Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
6196842
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
709935
CY2016Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
3300000
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1696285
CY2016Q1 us-gaap Increase In Restricted Cash
IncreaseInRestrictedCash
19670
CY2016Q1 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
872743
CY2016Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0
CY2016Q1 us-gaap Depreciation
Depreciation
1457284
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
111602709
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1854765
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
2496864
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3450
CY2016Q1 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
178813
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
694768
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
321280
CY2016Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2984
CY2016Q1 us-gaap Costs And Expenses
CostsAndExpenses
10048926
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
1651475
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
35468795
CY2016Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
13180312
CY2016Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
24598907
CY2016Q1 us-gaap Affiliate Costs
AffiliateCosts
701309
CY2016Q1 us-gaap Real Estate Improvements
RealEstateImprovements
608639
CY2016Q1 us-gaap Debt Issuance Costs
DebtIssuanceCosts
218108
CY2016Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1
CY2016Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2016Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
7077
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
10953418
CY2016Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-2907
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-74152324
CY2016Q1 ck0001585389 Preferred Units Distribution Description
PreferredUnitsDistributionDescription
The holders of the Preferred Units received current distributions (the “Current Distributions”) at a rate of a one-month LIBOR plus 6.5% per annum on the Liquidation Amount, payable monthly and calculated on an actual/360 basis. In addition to the Current Distributions, our Operating Partnership had the obligation to elect either (A) to pay the holder of the Preferred Units additional distributions monthly in an amount equal to: (i) 4.35% per annum of the Liquidation Amount through March 31, 2017; and (ii) beginning April 1, 2017, 6.35% per annum of the Liquidation Amount or (B) defer the additional distributions ( the “Deferred Distributions”) in an amount that accumulated monthly in an amount equal to (i) LIBOR plus 10.85% of the Deferred Distributions through March 31, 2017; and (ii) beginning April 1, 2017, LIBOR plus 12.85% of the Deferred Distributions.
CY2016Q1 ck0001585389 Non Cash Transactions Offering Costs Included In Due To Affiliates
NonCashTransactionsOfferingCostsIncludedInDueToAffiliates
283485
CY2016Q1 ck0001585389 Beneficial Non Voting Equity Interest
BeneficialNonVotingEquityInterest
0.15 pure
CY2016Q1 ck0001585389 Stock Issuable During Period Value Dividend Reinvestment Plan
StockIssuableDuringPeriodValueDividendReinvestmentPlan
95000000
CY2016Q1 ck0001585389 Non Cash Transactions Proceeds From Issuance Of Common Stock In Other Assets
NonCashTransactionsProceedsFromIssuanceOfCommonStockInOtherAssets
2498604
CY2016Q1 ck0001585389 Business Acquisition Fees Paid To Advisor
BusinessAcquisitionFeesPaidToAdvisor
1400000
CY2016Q1 ck0001585389 Accretion Of Fair Market Value Of Secured Debt
AccretionOfFairMarketValueOfSecuredDebt
35726
CY2016Q1 ck0001585389 Business Acquisition Cost Of Acquired Entity Transaction Cost
BusinessAcquisitionCostOfAcquiredEntityTransactionCost
2800000
CY2016Q1 ck0001585389 Business Combination Acquisition Related Costs Paid To Affiliates
BusinessCombinationAcquisitionRelatedCostsPaidToAffiliates
1623205
CY2016Q1 ck0001585389 Maximum Offering Cost Rate Incurred On Behalf Of Entity
MaximumOfferingCostRateIncurredOnBehalfOfEntity
0.035 pure
CY2016Q1 ck0001585389 Non Cash Transactions Distribution Payable
NonCashTransactionsDistributionPayable
1536052
CY2016Q1 ck0001585389 Other Property Acquisition Expenses
OtherPropertyAcquisitionExpenses
1220731
CY2016Q1 ck0001585389 Non Cash Transactions Deferred Financing Costs Included In Due To Affiliates
NonCashTransactionsDeferredFinancingCostsIncludedInDueToAffiliates
0
CY2016Q1 ck0001585389 Business Acquisition Pro Forma Acquisition Related Costs
BusinessAcquisitionProFormaAcquisitionRelatedCosts
2700000
CY2016Q1 ck0001585389 Maximum Period For Reimbursement Of Offering Cost
MaximumPeriodForReimbursementOfOfferingCost
P60D
CY2016Q1 ck0001585389 Business Acquisition Pro Forma Net Income Loss Attributable To Common Stockholders
BusinessAcquisitionProFormaNetIncomeLossAttributableToCommonStockholders
-2204564
CY2016Q1 ck0001585389 Real Estate Facilities Foreign Exchange Gain Loss Impact
RealEstateFacilitiesForeignExchangeGainLossImpact
-3618006
CY2016Q1 ck0001585389 Non Cash Transactions Other Assets Included In Due To Affiliates
NonCashTransactionsOtherAssetsIncludedInDueToAffiliates
0
CY2016Q1 ck0001585389 Non Cash Transactions Distributions Payable To Preferred Unit Holders In Operating Partnership
NonCashTransactionsDistributionsPayableToPreferredUnitHoldersInOperatingPartnership
0
CY2016Q1 ck0001585389 Non Cash Transactions Offering Costs Included In Accounts Payable And Accrued Liabilities
NonCashTransactionsOfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
65845
CY2016Q1 ck0001585389 Related Party Transaction Cash Paid
RelatedPartyTransactionCashPaid
12881261
CY2016Q1 ck0001585389 Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
8060123
CY2016Q1 ck0001585389 Non Cash Or Partial Non Cash Transaction Preferred Stock Issuance Costs
NonCashOrPartialNonCashTransactionPreferredStockIssuanceCosts
0
CY2016Q1 ck0001585389 Non Cash Transactions Secured Debt Assumed Purchase Of Real Estate
NonCashTransactionsSecuredDebtAssumedPurchaseOfRealEstate
12279762
CY2016Q1 ck0001585389 Minimum Percentage Of Ordinary Taxable Income To Be Distributed To Stockholders
MinimumPercentageOfOrdinaryTaxableIncomeToBeDistributedToStockholders
0.90 pure
CY2016Q1 ck0001585389 Non Cash Transactions Purchase Of Real Estate In Accounts Payable And Accrued Liabilities
NonCashTransactionsPurchaseOfRealEstateInAccountsPayableAndAccruedLiabilities
0
CY2016Q1 ck0001585389 Non Cash Transactions Additions To Real Estate In Accounts Payable And Accrued Liabilities
NonCashTransactionsAdditionsToRealEstateInAccountsPayableAndAccruedLiabilities
226396
CY2016Q1 ck0001585389 Redemption Of Common Stock
RedemptionOfCommonStock
9820
CY2016Q1 ck0001585389 Ancillary Operating Income
AncillaryOperatingIncome
37747
CY2016Q1 ck0001585389 Non Cash Transactions Redemption Of Common Stock Included In Accounts Payable And Accrued Liabilities
NonCashTransactionsRedemptionOfCommonStockIncludedInAccountsPayableAndAccruedLiabilities
527368
CY2016Q1 ck0001585389 Real Estate Facilities Depreciation Expense And Foreign Exchange Gain Loss Impact
RealEstateFacilitiesDepreciationExpenseAndForeignExchangeGainLossImpact
1448699
CY2016Q1 ck0001585389 Non Cash Transactions Foreign Currency Forward Contract Loss Included In Accounts Payable And Accrued Liabilities
NonCashTransactionsForeignCurrencyForwardContractLossIncludedInAccountsPayableAndAccruedLiabilities
986350
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-935471
CY2015Q3 us-gaap Revenues
Revenues
5053724
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-1854575
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-3739454
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
5989195
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-97622
CY2015Q4 us-gaap Revenues
Revenues
5356983
CY2015Q4 us-gaap Profit Loss
ProfitLoss
-1511945
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-2534121
CY2015Q4 us-gaap Costs And Expenses
CostsAndExpenses
5454605

Files In Submission

Name View Source Status
0001193125-16-591871-index-headers.html Edgar Link pending
0001193125-16-591871-index.html Edgar Link pending
0001193125-16-591871.txt Edgar Link pending
0001193125-16-591871-xbrl.zip Edgar Link pending
ck0001585389-20160331.xml Edgar Link completed
ck0001585389-20160331.xsd Edgar Link pending
ck0001585389-20160331_cal.xml Edgar Link unprocessable
ck0001585389-20160331_def.xml Edgar Link unprocessable
ck0001585389-20160331_lab.xml Edgar Link unprocessable
ck0001585389-20160331_pre.xml Edgar Link unprocessable
d140519d10q.htm Edgar Link pending
d140519dex311.htm Edgar Link pending
d140519dex312.htm Edgar Link pending
d140519dex321.htm Edgar Link pending
d140519dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending