EXR · 10-Q · 2026Q3 · Full report
Joint Venture Impairment Losses
Extra Space Storage Inc. · 2026-10-30 · Importance 59 · Surprise 82 · In source text
Extra Space fully impaired investments in two unconsolidated joint ventures during the third quarter of 2026, recognizing a $13.9 million loss. The comparable 2025 quarter included a $9.4 million net gain from selling the company’s membership interest in the Life Storage Spacemax LLC joint venture, which held six properties. The resulting year-over-year change in the joint-venture impairment and sale line was a $23.2 million adverse swing for the quarter and a $22.4 million adverse swing for the first nine months. Extra Space held interests in 408 stores in unconsolidated joint ventures at September 30, 2026, compared with 411 a year earlier.
Key facts
- During the three months ended September 30, 2026, Extra Space Storage fully impaired investments in two joint ventures, recording a loss of $13.883 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | realized | -39.9% | During the three months ended September 30, 2026, Extra Space Storage fully impaired investments in two joint ventures, recording a loss… |