XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.24.3

Investments in Unconsolidated Real Estate Entities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of investments in unconsolidated real estate ventures | Net investments in unconsolidated real estate entities and cash distributions in unconsolidated real estate ventures consist of the following:
| Number of Stores |  | Equity Ownership % |  | Excess Profit % (1) |  | September 30, |  | December 31,
| 2024 |  | 2023
PRISA Self Storage LLC | 85 |  | 4% |  | 4% |  | $ | 9,110 |  |  | $ | 9,435 |
HF1 Sovran HHF Storage Holdings LLC | 37 |  | 20% |  | 20% |  | 102,901 |  |  | 105,339 |
Storage Portfolio II JV LLC | 36 |  | 10% |  | 30% |  | (9,219) |  |  | (8,314) |
Storage Portfolio IV JV LLC | 32 |  | 10% |  | 30% |  | 47,491 |  |  | 48,184 |
Storage Portfolio I LLC | 24 |  | 34% |  | 49% |  | (43,430) |  |  | (42,487) |
PR II EXR JV LLC | 23 |  | 25% |  | 25% |  | 106,456 |  |  | 108,160 |
HF2 Sovran HHF Storage Holdings II LLC | 22 |  | 15% |  | 15% |  | 41,039 |  |  | 41,613 |
HF5 Life Storage-HIERS Storage LLC | 17 |  | 20% |  | 20% |  | 25,450 |  |  | 26,051 |
HF6 191 V Life Storage Holdings LLC | 17 |  | 20% |  | 20% |  | 11,315 |  |  | 12,702 |
ESS-CA TIVS JV LP | 16 |  | 55% |  | 55%-65% |  | 27,794 |  |  | 29,128 |
VRS Self Storage, LLC | 16 |  | 45% |  | 54% |  | (17,312) |  |  | (16,386) |
HF10 Life Storage HHF Wasatch Holdings LLC | 16 |  | 20% |  | 20% |  | 19,581 |  |  | 20,019 |
Other unconsolidated real estate ventures (2) (3) | 119 |  | 10%-50% |  | 10%-50% |  | 314,864 |  |  | 317,104 |
SmartStop Self Storage REIT, Inc. Preferred Stock (4) | n/a |  | n/a |  | n/a |  | 200,000 |  |  | 200,000 |
Strategic Storage Trust VI, Inc. Preferred Stock (5) | n/a |  | n/a |  | n/a |  | 150,000 |  |  | 150,000 |
Net Investments in and Cash distributions in unconsolidated real estate entities | 460 |  |  |  |  |  | $ | 986,040 |  |  | $ | 1,000,548 |
(1) Includes pro-rata equity ownership share and promoted interest. (2) In August 2024, the ESS Bristol Investments LLC unconsolidated joint venture sold five of its eight stores to another of the Company's unconsolidated joint ventures, and the Company recognized a gain of $10,324 for its pro rata share of the transaction. The Company then acquired its partner's membership interest in the remaining three stores held by ESS Bristol Investments LLC, which is now presented under real estate assets, net on the Company's condensed consolidated balance sheets. (3) In September 2024, the Company sold its membership interest in the Alan Jathoo JV LLC unconsolidated joint venture, which held nine stores, to its partner in such joint venture and recognized a gain of $3,406 on the transaction. This gain and the gain from the ESS Bristol Investments LLC transaction are presented in equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and sale of a joint venture interest on the Company's condensed consolidated statements of operations for the three months ended September 30, 2024. (4) In October 2019, the Company invested $200,000 in shares of convertible preferred stock of SmartStop with a dividend rate of 6.25% per annum, subject to increase after five years. The preferred shares are generally not redeemable for five years, except in the case of a change of control or initial listing of SmartStop. Dividend income from this investment is included on the equity in earnings and dividend income from unconsolidated real estate entities line on the Company's condensed consolidated statements of operations. (5) In May 2023, the Company invested $150,000 in shares of convertible preferred stock of Strategic Storage with a dividend rate of 8.35% per annum, subject to increase after five years. The preferred shares are generally not redeemable for three years, except in the case of a change of control or initial listing of Strategic Storage. Dividend income from this investment is included on the equity in earnings and dividend income from unconsolidated real estate entities on the Company's condensed consolidated statements of operations.

X
- Definition Tabular disclosure of information related to real estate joint ventures. + References No definition available. + Details
Name: | exr_ScheduleOfRealEstateJointVenturesTableTextBlock
Namespace Prefix: | exr_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration