XML 63 R52.htm IDEA: XBRL DOCUMENT v3.25.2
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE ENTITIES (Details)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended
Apr. 30, 2025
USD ($)
property
jointVenture
Mar. 31, 2025
property
Feb. 04, 2025
USD ($)
May 31, 2023
USD ($)
Oct. 31, 2019
USD ($)
Jun. 30, 2025
USD ($)
property
Mar. 31, 2025
USD ($)
property
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
property
Jun. 30, 2024
USD ($)
Apr. 04, 2025
USD ($)
Dec. 31, 2024
USD ($)
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           414       414      
Investment balance           $ 1,012,156       $ 1,012,156     $ 1,257,019
Investments in unconsolidated real estate entities           1,088,983       1,088,983     1,332,338
Cash distributions in unconsolidated real estate ventures           (76,827)       (76,827)     (75,319)
Assumed debt           $ 258,000 $ 0 $ 0 $ 0 $ 258,000 $ 0    
PRISA Self Storage LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           85       85      
Equity Ownership %           4.00%       4.00%      
Excess Profit %           4.00%       4.00%      
Investment balance           $ 8,815       $ 8,815     8,967
HF1 Sovran HHF Storage Holdings LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           37       37      
Equity Ownership %           49.00%       49.00%      
Investment balance           $ 302,275       $ 302,275     304,526
HF1 Sovran HHF Storage Holdings LLC | Minimum                          
Schedule of Equity Method Investments [Line Items]                          
Excess Profit %           49.00%       49.00%      
HF1 Sovran HHF Storage Holdings LLC | Maximum                          
Schedule of Equity Method Investments [Line Items]                          
Excess Profit %           59.00%       59.00%      
Storage Portfolio II JV LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           36       36      
Equity Ownership %           10.00%       10.00%      
Excess Profit %           30.00%       30.00%      
Investment balance           $ (10,085)       $ (10,085)     (9,584)
Storage Portfolio IV JV LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           32       32      
Equity Ownership %           10.00%       10.00%      
Excess Profit %           30.00%       30.00%      
Investment balance           $ 46,626       $ 46,626     47,150
Storage Portfolio I LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           24       24      
Equity Ownership %           34.00%       34.00%      
Excess Profit %           49.00%       49.00%      
Investment balance           $ (43,951)       $ (43,951)     (43,803)
ESS CA-TIVS JV LP                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           0       0      
Equity Ownership %           55.00%       55.00%      
Investment balance           $ 0       $ 0     27,217
ESS CA-TIVS JV LP | Minimum                          
Schedule of Equity Method Investments [Line Items]                          
Excess Profit %           55.00%       55.00%      
ESS CA-TIVS JV LP | Maximum                          
Schedule of Equity Method Investments [Line Items]                          
Excess Profit %           65.00%       65.00%      
HF2 Sovran HHF Storage Holdings II LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           22       22      
Equity Ownership %           49.00%       49.00%      
Investment balance           $ 113,120       $ 113,120     114,034
HF2 Sovran HHF Storage Holdings II LLC | Minimum                          
Schedule of Equity Method Investments [Line Items]                          
Excess Profit %           49.00%       49.00%      
HF2 Sovran HHF Storage Holdings II LLC | Maximum                          
Schedule of Equity Method Investments [Line Items]                          
Excess Profit %           59.00%       59.00%      
HF5 Life Storage-HIERS Storage LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           17       17      
Equity Ownership %           20.00%       20.00%      
Excess Profit %           20.00%       20.00%      
Investment balance           $ 24,842       $ 24,842     25,192
HF6 191 V Life Storage Holdings LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           17       17      
Equity Ownership %           20.00%       20.00%      
Excess Profit %           20.00%       20.00%      
Investment balance           $ 10,175       $ 10,175     10,821
PR II EXR JV LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property   6       0 6     0      
Equity Ownership %   25.00%         25.00%            
Excess Profit %           25.00%       25.00%      
Investment balance           $ 0       $ 0     105,909
Number of properties acquired | property   6         6            
Number of properties exchanged | property   17         17            
Number of properties in portfolio | property   23         23            
Ownership percentage after transaction   100.00%                      
PR II EXR JV LLC | Partner                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property   17         17            
Number of properties acquired | property   17         17            
Equity ownership percentage exchanged   75.00%         75.00%            
Number of properties exchanged | property   6         6            
VRS Self Storage, LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           16       16      
Equity Ownership %           45.00%       45.00%      
Excess Profit %           54.00%       54.00%      
Investment balance           $ (18,226)       $ (18,226)     (17,557)
HF10 Life Storage HHF Wasatch Holdings LLC                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           16       16      
Equity Ownership %           20.00%       20.00%      
Excess Profit %           20.00%       20.00%      
Investment balance           $ 18,620       $ 18,620     19,295
Other unconsolidated real estate ventures                          
Schedule of Equity Method Investments [Line Items]                          
Number of Stores | property           112       112      
Investment balance           $ 309,945       $ 309,945     314,852
Other unconsolidated real estate ventures | Minimum                          
Schedule of Equity Method Investments [Line Items]                          
Equity Ownership %           10.00%       10.00%      
Excess Profit %           10.00%       10.00%      
Other unconsolidated real estate ventures | Maximum                          
Schedule of Equity Method Investments [Line Items]                          
Equity Ownership %           50.00%       50.00%      
Excess Profit %           50.00%       50.00%      
Strategic Storage Growth Trust III, Inc. Preferred Stock                          
Schedule of Equity Method Investments [Line Items]                          
Investment balance           $ 100,000       $ 100,000     0
Strategic Storage Trust VI, Inc. Preferred Stock                          
Schedule of Equity Method Investments [Line Items]                          
Investment balance           150,000       150,000     150,000
Dividend rate, percentage       8.35%                  
Dividend rate increase, threshold       5 years                  
Redemption period       3 years                  
Investment in shares       $ 150,000                  
SmartStop Self Storage REIT, Inc. Preferred Stock                          
Schedule of Equity Method Investments [Line Items]                          
Investment balance         $ 200,000 $ 0       $ 0   $ 200,000 $ 200,000
Investment, preferred dividend rate         7.00%                
ESS-NYFL JV LP and ESS-CA TIVS JV LP                          
Schedule of Equity Method Investments [Line Items]                          
Equity Ownership % 100.00%                        
Value of real estate asset acquired $ 436,797                        
Assumed debt $ 258,000                        
Number of properties acquired | property 27                        
Number of joint ventures | jointVenture 2                        
Strategic Storage Growth Trust III, Inc.                          
Schedule of Equity Method Investments [Line Items]                          
Investment balance     $ 100,000                    
Dividend rate, percentage     8.85%                    
Dividend rate increase, threshold     5 years                    
Redemption period     5 years