ADDED
Business Activities As of December 31, 2025, the Company had 36 total employees and owned and operated, or managed, through its wholly owned subsidiaries, thirteen stores.
As of December 31, 2025, these properties totaled 966,567 net leasable square feet and offered 7,044 storage units.
We did not complete any self storage property acquisitions in 2025.
Our Financing Strategy Our financing strategy is to seek to minimize the cost of our capital to maximize the returns generated for our stockholders.
Management s Discussion and Analysis of Financial Condition and Results of Operations.
In 2025, this included anti-harassment training, cybersecurity training, and store manager training.
Sustainability We are focused on building our Company for the long-term to generate sustainable growth.
To that end, we have established a cross-functional Sustainability committee (the "Sustainability Committee"), comprised of management, responsible for establishing our sustainability priorities and objectives.
Certain investors are increasingly taking into account environmental, social, and governance ("ESG") factors, including climate risks, in determining whether to invest in companies.
Our use of or failure to adopt advancements in information technology, such as artificial intelligence, may hinder or prevent us from achieving strategic objectives or otherwise harm our business.
REMOVED
Business Activities As of December 31, 2024, the Company had 33 total employees and owned and operated, or managed, through its wholly owned subsidiaries, thirteen stores.
As of December 31, 2024, these properties totaled 967,187 net leasable square feet and offered 7,049 storage units.
We did not complete any self storage property acquisitions in 2024.
Our Financing Strategy Our financing strategy is to minimize the cost of our capital in order to maximize the returns generated for our stockholders.
On June 24, 2016, certain wholly owned subsidiaries of the Company ( Term Loan Secured Subsidiaries ) entered into a loan agreement and certain other related agreements (collectively, the Term Loan Agreement ) between the Term Loan Secured Subsidiaries and Insurance Strategy Funding IV, LLC (the Term Loan Lender ).
Under the Term Loan Agreement, the Term Loan Secured Subsidiaries borrowed from Term Loan Lender the principal amount of $20 million pursuant to a promissory note (the Term Loan Promissory Note ).
The Term Loan Promissory Note bears interest at a rate equal to 4.192% per annum and is due to mature on July 1, 2036.
Pursuant to a security agreement (the Term Loan Security Agreement ), the obligations under the Term Loan Agreement are secured by certain real estate assets owned by the Term Loan Secured Subsidiaries.
acted as Special Purpose Vehicle Agent of the Term Loan Lender.
The Company entered into a non-recourse guaranty (the Term Loan Guaranty and together with the Term Loan Agreement, the Term Loan Promissory Note and the Term Loan Security Agreement, the Term Loan Documents ) to guarantee the payment to the Term Loan Lender of certain obligations of the Term Loan Secured Subsidiaries under the Term Loan Agreement.