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INVESTMENT ACTIVITY (Details) $ in Thousands |  |  |  |  | 3 Months Ended | 12 Months Ended | 15 Months Ended | 21 Months Ended
--- | --- | --- | --- | --- | --- | --- | --- | ---
Aug. 12, 2016 USD ($) | Apr. 18, 2016 USD ($) shares | Apr. 05, 2016 USD ($) | May 14, 2015 USD ($) shares | Mar. 31, 2017 USD ($) property facility | Dec. 31, 2016 USD ($) property | Jun. 30, 2016 USD ($) shares | Dec. 31, 2016 USD ($) item facility | Mar. 31, 2017 USD ($) facility | Sep. 30, 2016 property
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Storage facilities |  |  |  |  | $ 4,020,366 | $ 3,998,180 |  | $ 3,998,180 | $ 4,020,366 |
Restricted cash |  |  |  |  | 6,556 | 7,893 |  | $ 7,893 | $ 6,556 |
OP units issued (in shares) | shares |  | 61,224 |  | 20,408 |  |  |  |  |  |
Issuance of OP Shares |  | $ 1,500 |  | $ 500 |  |  |  |  |  |
Self storage in operation |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  |  |  |  |  |  | 3 |
Total Construction Costs |  |  |  |  |  |  |  |  | $ 73,700 |
Self storage under construction | PSI |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Development costs |  |  |  |  | 195,100 |  |  |  | $ 195,100 |
Expected construction cost |  |  |  |  | $ 321,100 |  |  |  |  |
Number of facilities under contract | facility |  |  |  |  | 6 |  |  |  |  |
Self-storage facilities located in New York |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  |  | 51.00% |  |
Number of joint ventures | item |  |  |  |  |  |  |  | 2 |  |
Self-storage Facility in Washington DC | PSI |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
OP units issued (in shares) | shares |  |  |  |  |  |  | 61,224 |  |  |
Issuance of OP Shares |  |  |  |  |  |  | $ 1,500 |  |  |
Self-storage Facility In North Palm Beach, FL |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  |  |  |  |  |  | 1 |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  |  |  | 100.00% |
Total Construction Costs |  |  |  |  |  |  |  |  | $ 9,700 |
Self-storage Facility in Queens, NY |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  |  |  |  |  |  | 1 |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  |  |  | 100.00% |
Total Construction Costs |  |  |  |  |  |  |  |  | $ 31,800 |
Minority ownership interest (as a percent) |  |  | 49.00% |  |  |  |  |  |  |
Amount of net proceeds applied to acquisitions closed during the year |  |  | $ 12,500 |  |  |  |  |  |  |
Self-storage Facility in Bronx, NY |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  |  |  |  |  |  | 1 |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  |  |  | 100.00% |
Total Construction Costs |  |  |  |  |  |  |  |  | $ 32,200 |
Minority ownership interest (as a percent) | 49.00% |  |  |  |  |  |  |  |  |
Amount of net proceeds applied to acquisitions closed during the year | $ 17,000 |  |  |  |  |  |  |  |  |
2017 Acquisitions |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  | 0 |  |  |  |  |
2016 Acquisitions |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  |  |  | 28 |  |
Aggregate purchase price |  |  |  |  |  |  |  | $ 403,550 |  |
2016 Acquisitions | Self storage under construction |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of facilities under contract | facility |  |  |  |  |  |  |  | 3 |  |
2016 Acquisitions | Self-storage facilities located in US |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  |  |  |  |  | 28 |  |
Aggregate purchase price |  |  |  |  |  |  |  | $ 403,600 |  |
Intangible value of the in-place leases |  |  |  |  |  | 18,800 |  | $ 18,800 |  |
Estimated life |  |  |  |  |  |  |  | 12 months |  |
Amortization expense |  |  |  |  | $ 3,900 |  |  |  |  |
Number of properties, assumed mortgage | facility |  |  |  |  |  |  |  | 1 |  |
Assumed mortgage debt, at fair value |  |  |  |  |  | 6,500 |  | $ 6,500 |  |
Outstanding principal balance of mortgage debt assumed on acquisitions |  |  |  |  |  | 6,300 |  | 6,300 |  |
Premium on debt assumed on acquisitions |  |  |  |  |  | $ 200 |  | $ 200 |  |
Real Estate Acquisition Expected in 2017 |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Deposit |  |  |  |  | $ 1,800 |  |  |  | 1,800 |
Number of facilities under contract | facility |  |  |  |  | 4 |  |  |  |  |
Expected aggregate purchase or sales price |  |  |  |  | $ 61,100 |  |  |  | $ 61,100 |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  | 28 |  |  |  | 28
Aggregate purchase price |  |  |  |  |  | $ 403,600 |  |  |  |
New York | Self storage under construction | PSI |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of facilities under contract | facility |  |  |  |  | 5 |  |  |  |  |
Massachusetts | Self storage under construction | PSI |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |
Number of facilities under contract | facility |  |  |  |  | 1 |  |  |  |  |

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