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Real Estate Assets
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]  
Real Estate Assets REAL ESTATE ASSETS
The components of real estate assets are summarized as follows:
September 30, 2024December 31, 2023
Land$4,923,702 $4,904,705 
Buildings, improvements and other intangibles22,032,745 21,664,224 
Right of use asset - finance lease143,286 143,842 
Intangible assets - tenant relationships322,771 321,019 
Intangible lease rights27,743 27,743 
27,450,247 27,061,533 
Less: accumulated depreciation and amortization(3,168,088)(2,624,405)
Net operating real estate assets24,282,159 24,437,128 
Real estate under development/redevelopment103,333 118,745 
Real estate assets, net$24,385,492 $24,555,873 
Real estate assets held for sale included in real estate assets, net$131,527 $— 
In September 2024, the Company amended existing triple-net lease agreements for land and buildings related to 27 stores that had initially been entered into in June and August 2019. The Company also entered into new triple-net lease agreements for land and buildings related to 12 additional stores. Both the initial 27 stores and the additional 12 stores added to the triple net lease structure are categorized as operating leases and have been presented in real estate assets - operating lease right-of-use assets and operating lease liabilities on the Company's condensed consolidated balance sheets.
As of September 30, 2024, the Company had 17 stores classified as held for sale which are included in real estate assets, net. Of the 17 stores, nine had an estimated fair value, net of selling costs, less than the carrying value of the assets. During the three and nine months ended September 30, 2024, the Company recorded estimated losses of $8,961 and $63,620, respectively, in loss on real estate assets held for sale on the Company's condensed consolidated statements of operations. Assets held for sale are included in the self-storage operations segment of the Company’s segment information.