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ACQUISITIONS AND DISPOSITIONS
 3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
ACQUISITIONS AND DISPOSITIONS ACQUISITIONS AND DISPOSITIONS
The following table shows the Company’s acquisitions of stores for the three months ended March 31, 2025 and 2024. The table excludes purchases of raw land and improvements made to existing assets. All store acquisitions are considered asset acquisitions under ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.”
Total
PeriodNumber of StoresCash PaidLoan AssumedFinance Lease LiabilityInvestments in Real Estate VenturesNet Liabilities/ (Assets) AssumedValue of Equity IssuedReal estate assets
Q1 202517136,025 — — 105,471 847 $5,878 248,221 
Q1 2024635,084 — — — 171 $— 35,255 
On March 31, 2025, the Company closed on the transfer and distribution of membership interests in its PR II EXR JV LLC joint venture. The Company exchanged its 25% ownership interest in 17 properties for its partner's 75% ownership interest in six properties. The portfolio consisted of 23 properties; therefore, the Company now owns 100% of the six properties, and its partner now owns 100% of the 17 properties, which the Company will continue to manage.
Dispositions
The Company disposed of 11 previously held for sale stores during the three months ended March 31, 2025 for approximately $124,855, resulting in a gain of $39,520. This amount is shown net of $3,759 in losses related to the sale of three land parcels and three properties listed for sale during the quarter where the estimated fair value, net of selling costs, was less than the net carrying value of the assets. The net gain is shown on the Company’s condensed consolidated statements of operations for the three months ended March 31, 2025, presented as gain on real estate assets held for sale and sold, net.