Investments in Unconsolidated Real Estate Entities (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments in Real Estate Entities And Equity in Earnings of Real Estate Entities

The following table sets forth our investments in, and equity in earnings of, the Unconsolidated Real Estate Entities (amounts in thousands):


	Investments in Unconsolidated Real Estate Entities at December 31,				Equity in Earnings of Unconsolidated Real Estate for the Year Ended December 31,
	2022		2021		2022		2021		2020

PSB	$	—	$	515,312	$	80,596	$	207,722	$	64,835
Shurgard	275,752		313,451		26,385		24,371		15,662
Total	$	275,752	$	828,763	$	106,981	$	232,093	$	80,497

The following tables represent summarized financial information for PSB and Shurgard in aggregate derived from their respective reported financial statements prepared under US GAAP before our basis difference adjustments for the years ended December 31, 2022, 2021, and 2020 (amounts in thousands). Due to the complete sale of our equity investment in PSB in July 2022, the summarized financial information for 2022 includes PSB's financial activities through June 30, 2022, which represents the most practical date of such reported information prior to the transaction.


	Year Ended December 31,
	2022		2021		2020

Revenues	$	572,192	$	790,461	$	721,393
Costs of operations	193,868		263,398		242,992
Operating income	220,948		333,624		290,901
Gain on sale of real estate	128,743		359,904		27,234
Net Income	299,226		639,062		275,680


	At December 31,
	2022		2021

Real estate assets	$	1,391,806	$	3,437,115
Other assets	289,420		481,403
Total assets	$	1,681,226	$	3,918,518

Debt	$	860,977	$	943,276
Other liabilities	224,701		298,787
Noncontrolling interests	2,659		262,243
Shareholders' equity	592,889		2,414,212
Total liabilities and equity	$	1,681,226	$	3,918,518