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Noncontrolling Interests
9 Months Ended
Sep. 30, 2021
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
At September 30, 2021, the noncontrolling interests represent (i) third-party equity interests in subsidiaries owning 24 operating self-storage facilities and five self-storage facilities that are under construction and (ii) 231,978 partnership units held by third-parties in a subsidiary that are convertible on a one-for-one basis (subject to certain limitations) into common shares of the Company at the option of the unitholder (collectively, the “Noncontrolling Interests”). At September 30, 2021, the Noncontrolling Interests cannot require us to redeem their interests, other than pursuant to a liquidation of the subsidiary.
During the nine months ended September 30, 2021 and 2020, we allocated a total of $4.1 million and $2.8 million, respectively, of income to these interests; and we paid $4.5 million and $4.0 million, respectively, in distributions to these interests.
During the nine months ended September 30, 2021 and 2020, Noncontrolling Interests contributed $2.4 million and $2.3 million, respectively, to our subsidiaries.