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STORAGE PROPERTIES | 3 Months Ended
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Mar. 31, 2017
STORAGE PROPERTIES |
STORAGE FACILITIES | 3. STORAGE PROPERTIES The book value of the Company’s real estate assets is summarized as follows:
|  | March 31, |  | December 31, |
|  | 2017 |  | 2016 |
|  | (in thousands) |
Land |  | $ | 651,119 |  | $ | 649,744 |
Buildings and improvements |  |  | 2,938,899 |  |  | 2,928,275 |
Equipment |  |  | 208,373 |  |  | 217,867 |
Construction in progress |  |  | 221,975 |  |  | 202,294 |
Storage properties |  |  | 4,020,366 |  |  | 3,998,180 |
Less: Accumulated depreciation |  |  | (693,146) |  |  | (671,364) |
Storage properties, net |  | $ | 3,327,220 |  | $ | 3,326,816 |
The following table summarizes the Company’s acquisition and disposition activity during the period beginning on January 1, 2016 through March 31, 2017:
|  |  |  |  |  | Number of |  | Purchase / Sale Price |
Asset/Portfolio |  | Market |  | Transaction Date |  | Stores |  | (in thousands) |
2016 Acquisitions: |  |  |  |  |  |  |  |  |  |
Metro DC Asset |  | Baltimore / DC |  | January 2016 |  | 1 |  | $ | 21,000 |
Texas Assets |  | Texas Markets - Major |  | January 2016 |  | 2 |  |  | 24,800 |
New York Asset |  | New York / Northern NJ |  | January 2016 |  | 1 |  |  | 48,500 |
Texas Asset |  | Texas Markets - Major |  | January 2016 |  | 1 |  |  | 11,600 |
Connecticut Asset |  | Connecticut |  | February 2016 |  | 1 |  |  | 19,000 |
Texas Asset |  | Texas Markets - Major |  | March 2016 |  | 1 |  |  | 11,600 |
Florida Assets |  | Florida Markets - Other |  | March 2016 |  | 3 |  |  | 47,925 |
Colorado Asset |  | Denver |  | April 2016 |  | 1 |  |  | 11,350 |
Texas Asset |  | Texas Markets - Major |  | April 2016 |  | 1 |  |  | 11,600 |
Texas Asset |  | Texas Markets - Major |  | May 2016 |  | 1 |  |  | 10,100 |
Texas Asset |  | Texas Markets - Major |  | May 2016 |  | 1 |  |  | 10,800 |
Illinois Asset |  | Chicago |  | May 2016 |  | 1 |  |  | 12,350 |
Illinois Asset |  | Chicago |  | May 2016 |  | 1 |  |  | 16,000 |
Massachusetts Asset |  | Massachusetts |  | June 2016 |  | 1 |  |  | 14,300 |
Nevada Assets |  | Las Vegas |  | July 2016 |  | 2 |  |  | 23,200 |
Arizona Asset |  | Phoenix |  | August 2016 |  | 1 |  |  | 14,525 |
Minnesota Asset |  | Minneapolis |  | August 2016 |  | 1 |  |  | 15,150 |
Colorado Asset |  | Denver |  | August 2016 |  | 1 |  |  | 15,600 |
Texas Asset |  | Texas Markets - Major |  | September 2016 |  | 1 |  |  | 6,100 |
Texas Asset |  | Texas Markets - Major |  | September 2016 |  | 1 |  |  | 5,300 |
Nevada Asset |  | Las Vegas |  | October 2016 |  | 1 |  |  | 13,250 |
North Carolina Asset |  | Charlotte |  | November 2016 |  | 1 |  |  | 10,600 |
Arizona Asset |  | Phoenix |  | November 2016 |  | 1 |  |  | 14,000 |
Nevada Asset |  | Las Vegas |  | December 2016 |  | 1 |  |  | 14,900 |
|  |  |  |  |  | 28 |  | $ | 403,550 |

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Subparagraph 4 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a -Article 5 + Details
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