EXR » Topics » Interest Expense

This excerpt taken from the EXR 10-Q filed Jun 5, 2009.
Interest ExpenseThe decrease in interest expense for the three months ended March 31, 2009 consists primarily of a decrease of $710 on corporate and property debt due to a decrease in interest rates compared to the same period in the prior year.  This decrease was slightly offset by new loans on properties acquired during 2008.

 

This excerpt taken from the EXR 10-Q filed May 11, 2009.
Interest ExpenseThe decrease in interest expense for the three months ended March 31, 2009 consists primarily of a decrease of $710 on corporate and property debt due to a decrease in interest rates compared to the same period in the prior year.  This decrease was slightly offset by new loans on properties acquired during 2008.

 

This excerpt taken from the EXR 10-Q filed Nov 7, 2007.
Interest Expense — The increase in interest expense for the three and nine months ended September 30, 2007 when compared to September 30, 2006 consists of  $888 and $3,850, respectively, related to new loans on properties acquired in 2007 and 2006, and $1,340  and $2,561, respectively, related to increased corporate interest related primarily to the exchangeable senior notes offering in March 2007.

 

This excerpt taken from the EXR 10-Q filed Aug 8, 2007.
Interest Expense — The increase in interest expense for the three and six months ended June 30, 2007 when compared to June 30, 2006 consists primarily of  $1,181 and $2,475, respectively, related to new loans on properties acquired in 2007 and 2006, and $1,596  and $1,221, respectively, related to increased corporate interest related primarily to the exchangeable senior notes offering in March 2007.

This excerpt taken from the EXR 10-Q filed Nov 14, 2005.

Interest Expense

 

Interest expense for the three and nine months ended September 30, 2005 increased $3,896 and $2,855, or 36% and 11%, respectively. The increase was primarily due to interest paid on the trust preferred debt and additional debt relating to the acquisition of properties.  In addition, the Company incurred interest expense relating to a bridge loan used to complete the SUSA transaction.  The Company also amortized non-recurring fees relating to the bridge loan of $865 which are included in interest expense.

 

This excerpt taken from the EXR 10-Q filed Aug 15, 2005.

Interest Expense

 

Interest expense for the three and six months ended June 30, 2005 decreased $913 and $1,041, or 11% and 7%, respectively. The decrease was primarily due to $1,772 paid for the defeasance of two CMBS loans and $675 of unamortized deferred financing costs associated with refinance borrowings as expense in interest in 2004 relating to participating mortgages on properties that were held in joint ventures or in properties that were consolidated due to certain guarantees. This amount was offset by increase interest related to additional debt incurred by the Company since June 30, 2004 and higher interest rates.

 

This excerpt taken from the EXR 10-Q filed May 10, 2005.

Interest Expense

 

Interest expense decreased $128, or 2%. This decrease was primarily due to $1,643 in interest in 2004 relating participating mortgages on properties that were held in joint ventures or in properties that were consolidated due to certain guarantees. The Company purchased its partners joint venture interest in these properties in August 2004 and the participating mortgages were eliminated. In addition, the Company was released of all guarantees relating to certain properties and the properties were subsequently deconsolidated in 2004. This amount was offset by additional debt incurred by the Company in the first quarter of 2005 and higher interest rates.

 

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